NEW YORK COMMERCIAL FINANCE DISCLOSURE LAW

New York enacted the Commercial Finance Disclosure Law (“CFDL”), Financial Services Law (“FSL”) §§ 801-812 on December 23, 2020, to require consumer style disclosures for commercial finance transactions. The disclosures cover, among other things, the finance charge...

NY Commercial Finance Disclosure Law

On October 20, 2021, the New York Department of Financial Services (NYDFS) issued proposed rules under New York’s Commercial Financing Disclosure Law (CFDL). The CFDL will be effective January 1, 2022 and mandates consumer type disclosures for certain types of...