In response to a written request by the Small Business Finance Association, the Consumer Financial Protection Bureau issued a final preemption determination finding that the Truth in Lending Act does not preempt the commercial financing disclosure statutes in New York, California, Utah and Virginia. See our ALERTS dated Sept. 29, 2022 and Dec. 14, 2020 (New York); June 15, 2022 (California) and May 6, 2022 (Utah and Virginia) for our discussion of these laws. The CFPB issued the final determination after issuing a preliminary determination and undergoing notice-and-comment rulemaking. See our ALERT dated Dec. 8, 2022. Read More