- 1A bill to amend California's commercial financing disclosure law is advancing in the legislature.
- 2It aims to clarify deceptive marketing and the DFPI's enforcement authority.
- 3The latest version of the bill is available through the legislature's website.
A bill amending California's commercial financing disclosure law is moving through the state legislature. The measure, identified in the legislature's database as SB 362, is aimed at tightening the language of existing rules rather than creating a new regime.
What the bill says
According to the bill's own language, the act is intended "to strengthen the effect of existing law" by giving more clarity to market participants and to the Department of Financial Protection and Innovation (DFPI). The clarity it targets concerns two areas: deceptive marketing, and the DFPI's authority to enforce the law.
Where to read it
The latest version of the bill is posted on the California legislative information site, which shows a comparison of the amended text.
Why it matters
The commercial financing disclosure law governs how funders present cost and terms of financing to small businesses in California. Changes to its language and to the DFPI's enforcement authority would matter to funders, brokers and other providers that market in the state. The source did not describe specific new requirements or give a timeline for passage, so companies should monitor the bill's progress and read the amended text directly.
Source reporting: deBanked.
