New York is now poised to impose Truth-in-Lending-like disclosure obligations on various types of commercial financing. On Feb. 1, the New York Department of Financial Services adopted final regulations implementing S.B. 5470 and S.B. 898.
CFPB Says ‘Show Me The (Consumer Unfriendly) Fine Print’
- CFPB proposes rule requiring nonbanks to “register” with the CFPB if they include certain terms and conditions in their form contracts, including in their website terms of use
- The registry would serve as a public database tracking firms that use form contracts to waive or limit certain consumer rights
- The CFPB intends to