A 4580
Requires certain disclosures by providers of commercial financing.
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- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill requires certain disclosures from commercial financing providers to recipients. Specifically, it mandates that brokers and providers of sales-based financing, closed-end financing, and factoring transactions must clearly outline the total financing amount, finance charge, estimated annual percentage rate, total repayment amount, and any associated fees. The bill aims to increase transparency and protect consumers by ensuring they understand the full cost of commercial financing.
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