New York MCA Final Disclosure Laws
The final rules are a good start, but fall short in several areas. For example an MCA Funder is exempt from full disclosure if they are “partnered” with FDIC insured banks. Another shortfall is the inclusion of a $2,500,000 cap. Thus, commercial financing in excess of $2.5M is exempt from the CFDL. Hardly ideal.
https://grantphillipslaw.com/n....ew-york-mca-final-di
New York Enacts APR Disclosure Laws
The intent of S.B 5470 is to provide corporate and small business borrowers with more transparency surrounding their taking of credit, in order to allow for better, more informed decisions, a clearer understanding of how much is being borrowed and under what terms and to provide a corporate borrower with the ability to compare different offers of credit.
https://grantphillipslaw.com/n....ew-york-enacts-apr-d
Tackle All Your Debt with A Debt Relief Attorney
As an attorney licensed & practicing in Florida, New York and New Jersey, with a focus on Total Consumer Debt Relief, I am receiving more and more clients, who were once signed into an alleged debt settlement program, hired a non-attorney to address their debt or had already paid exorbitant amounts of money to such companies, and yet, their debt was NOT settled.
https://grantphillipslaw.com/t....ackle-all-your-debt-
New York MCA Final Disclosure Laws
This is significant development since New York’s Commercial Finance Disclosure Law (CFDL) went into effect August 1st, 2023 and in the law the CFDL has extended disclosure requirements ordinarily required for consumer lending to commercial financing instruments such as a merchant cash advance.
https://grantphillipslaw.com/n....ew-york-mca-final-di
Tackle All Your Debt with A Debt Relief Attorney
Only a Consumer National Debt Relief Attorney Can Help You With Total & Lasting Debt Elimination! This applies to most forms of debt, including but not limited to Merchant Cash Advance Loans, Payday Loans, Hard Money Loans, IRS Tax Debt, Medical Bills, Credit Card Debt and in certain instances even Student Loan Debt.
https://grantphillipslaw.com/t....ackle-all-your-debt-