December 15, 2021

Commercial Financing Disclosure Laws in New York and California


As state-level regulatory pressures mount, the Equipment Leasing and Finance Association will host a webinar designed to help the equipment finance industry prepare for state-level regulations that are expected to impact the industry in the near future. The webinar, “ELFA State Advocacy New Year’s Resolutions: Prepare for Commercial Financing Disclosure Laws in New York and California,” will take place on Dec. 15 from 1 p.m. to 2 p.m. EST.

“ELFA’s state government relations team has been working overtime monitoring bills that mandate disclosure and licensing of commercial financial services,” Ralph Petta, president and CEO of the ELFA, said. “Through our state advocacy efforts, the association has achieved critical wins in disclosure bills making their way through state legislatures around the nation. This work will continue in the year ahead, and we encourage all members to participate in this webinar to learn critical information and steps to prepare for new measures that could impact their businesses.”

The Dec. 15 webinar will provide attendees with the latest information and practical tips concerning commercial financing disclosure laws that are slated to take effect in 2022 in New York and California. It will also touch on regulations that could impact key areas, from usury laws to licensing requirements to the definition of a “true lease.” Overlaps and contradictions between and among state regulations could require redundant investments in technology, software and training, and there is a real worry about how quickly some of these new or proposed state-level regulations could move from proposal to fully-enacted policy.

The speakers at the webinar will include:

  • Scott Riehl, Vice President of State Government Relations at the Equipment Leasing and Finance Association
  • Moorari Shah, Partner at Sheppard Mullin Richter & Hampton
  • Bonnie Michael, Shareholder at Baker, Donelson, Bearman, Caldwell & Berkowitz
  • Jeff Taft, Partner at Mayer Brown

The event is part of the ELFA Wednesday Webinar series, designed to provide critical information to equipment finance professionals on essential hot topics. The webinar will feature an experienced panel and attendees will be invited to ask questions during an interactive Q&A session. To register, please visit the event website.

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