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On July 26, 2019, the California Department of Business Oversight (DBO) issued a draft regulation and draft disclosures to implement the state’s first-of-its-kind commercial financing disclosure law enacted last year. With this draft regulation, the DBO wades into uncharted waters in implementing the first law requiring disclosures of key terms in connection with certain commercial financings by non-banks.

Uncharted Waters: California Regulator Issues Draft Commercial Financing Disclosure Regulation

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Uncharted Waters: California Regulator Issues Draft Commercial Financing Disclosure Regulation