Commercial Financing Legislative developments
- Staff Writer
- 6 days ago
- 1 min read
A few updates on legislation around the country, according to the Revenue Based Finance Coalition (RBFC).
In New Jersey, bill S 1397/ A 865 has been amended to require APR disclosure for revenue/sales-based financing providers.
Pennsylvania HB 639, sponsored by Representative Kristine Howard (D), introduces truth-in-lending provisions and APR disclosure requirements for commercial financing non-bank providers.
In Puerto Rico, PC 889 its proposing disclosure, licensing, and transparency for what they call future income financing businesses. This would be under OCIF oversight.
As developments unfold, we will relay the information, but you can also visit the RBFC for more information.
