Connecticut and Kansas recently joined California, New York, Florida, Utah, Virginia, and Georgia in enacting laws requiring lenders to provide consumer-like financing disclosures for certain
Continue Reading New Commercial Financing Laws Take Effect in Connecticut, Kansas
On Feb. 15, 2024, California Sen. Maria Elena Durazo (D-Los Angeles) introduced Senate Bill 1201 (SB 1201 or the Bill), which would impose new disclosure requirements on California companies. Amended
Continue Reading California Senate Passes State’s Version of Corporate Transparency Act
On May 2, 2024, Florida Gov. Ron DeSantis held a press conference where he signed Florida House Bill 989 (HB 989 or the Bill) into law. HB 989 amends section
Continue Reading New Florida Law Creates House Bill 3 Complaint, OFR Investigation Process, and Expands Applicability to Additional Financial Institutions
On May 8, 2024, the California Attorney General released a list of frequently asked questions (FAQs) to help businesses comply with SB 478, California’s soon-to-be effective “Hidden Fees Statute,”
Continue Reading California AG Publishes FAQs on California’s ‘Junk Fee’ Law
On April 1, 2024, California’s legislature introduced Assembly Bill 2863, which proposes amendments to California’s Automatic Renewal Law. If enacted, the proposed amendments would introduce stricter mandates for disclosures, consent, and cancellation processes and further align California’s ARL with the FTC’s proposed changes to its Negative Option Rule.
Continue Reading California Proposes Revisions to Autorenewal Law
Timothy A. Butler, a shareholder in GT’s Financial Regulatory & Compliance Practice, is quoted in a Los Angeles Times article titled “Perch charges diners ‘security’ fee at downtown
Continue Reading Tim Butler Quoted in LA Times Article on California ‘Junk Fees’
On March 1, 2024, New York Gov. Hochul signed into law chapter 102 of the laws of 2024, which is a chapter amendment1 to the New York LLC Transparency
Continue Reading NY Gov Signs Amended LLC Transparency Act
On Mar. 8, 2024, the Florida Senate passed (35 YEAS / 3 NAYS) Florida House Bill No. 989 (HB 989 or the Bill), potentially amending section 655.0323, Florida
Continue Reading New Florida Bill Creates Customer Complaint and Florida Office of Financial Regulation Investigation Process for House Bill 3, and Potentially Broadens the Scope of Financial Institutions Subject to House Bill 3
On Jan. 25, 2024, the Hawaii Department of Commerce and Consumer Affairs Division of Financial Institutions (DFI) and the Hawaii Technology Development Corporation (collectively, the “Agencies”) jointly issued a press
Continue Reading Hawaii’s Money Transmitters Modernization Act Will No Longer Apply to Cryptocurrency Activities
On Dec. 22, 2023, Montana Attorney General Austin Knudsen issued an opinion clarifying that certain Earned Wage Access products are not loans under either the Montana Consumer Loan Act or the Montana Deferred Deposit Loan Act.
Continue Reading Montana Attorney General Confirms Certain Earned Wage Access Products Are Not Loans