Legislative & Regulatory Issues

SFNet is your advocate at the state and federal level. See below for past and current legislative and regulatory issues relevant to secured finance. If you have any questions or comments, contact our Advocacy Committee Staff Liaison, Michele Ocejo, at  mocejo@sfnet.com.

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SFNet Responds to SBA Working Capital Pilot Program

CFPB Issues Final Rule for Section 1071

California Law Will Require Certain Lenders and Factors to File an Annual Report Starting in 2025

SFNet Instrumental in Derailment of MD Financial Disclosure Bill

New York State to Consider Safe Harbor Amendment to Disclosure Law

SFNet Submits Letter in Opposition to Illinois Financial Disclosure Legislation

SFNet Responds to The BASEL III Endgame Interagency Notice of Proposed Rulemaking Modifying Bank Capital Requirements

Court Issues Summary Judgment in Favor of California DFPI

SFNet Prepares to Respond to Interagency Notice of Proposed Rulemaking Modifying Bank Capital Requirements

Federal Reserve Board Launches Data Collection to Gather More Information From Banks Affected by Large Bank Capital Proposal and Extends Comment Period

California Enacts Bill Prohibiting Certain Fees for Loans Under $500,000

SFNet Wins Safe Harbor Fight in California

Texas Judge Partially Blocks Small Business Loan Rule

SFNet Creates the SFNet Guide to the New York Commercial Finance Disclosure Laws and Regulations

Consumer Financial Protection Bureau Issues Small Entity Compliance Guide for Dodd-Frank 1071

SFNet Successful In Getting Carve Out for ABL and Factoring in Connecticut

CFPB Launches Dedicated Regulatory and Technical Support Program to Help Financial Institutions Implement and Comply with 1071 Final Rules

SFNet Testifies During Hearing on Connecticut Financial Disclosure Bill

Georgia, Illinois, Kansas and Mississippi Latest States to Push for Commercial Finance Disclosures

SFNet Submits a Letter in Response to the Consumer Finance Protection Bureau’s (“CFPB”) Request for Comments

SFNet Learns the Final Regulations Pertaining to CFPB Section 1071 of Dodd-Frank, Could Prove to be Unduly Burdensome

Listing of State-by-State Financial Disclosures Legislation 

SFNet Submits Comment Letter to the NY State Department of Financial Services in Response to Latest Disclosure Regulations

SFNet, SBA Agree to Revised EIDL Subordination Terms for Lenders Effective Immediately

Maryland Financial Disclosures Bill Dies in Committee

Missouri Financial Disclosure Bill Progresses

SFNet’s CEO, Rich Gumbrecht; SFNet’s Co-general Counsel, Jon Helfat; and Miin Chen, COO of Siena Lending Group, Testify in Front of the CT General Assembly Banking Committee

SFNet Advocacy Alert - Financial Disclosure bills, Similar to Those Passed Into law in NY and CA, Have Been Proposed in a few More States 

SFNet Submits Response to SBA’s COVID EIDL Program's Subordination Process

UPDATE: New York Court of Appeals Grants SFNet Opportunity to Weigh In on Important Article 9 Case

New York Department Of Financial Services Extends The Effective Date Of The State’s Commercial Finance Disclosure Legislation

Advocacy Alert: "Stop Wall Street Looting Act of 2021"

SFNet Makes Comments to NJ 2262

SFNet Continues to Express Concerns About the EIDL Program with Relevant Officials

Addendum To SNet Comment Letter Dated 11_17_21 Proposed Apr Calculation For Discount Factors

Comments to the Proposed Regulations for the Implementation of New York State’s Commercial Finance Disclosure Law (“CFDL”)

Proposed APR Calculation For Discount Factors

SFNet’s Opposition to the Permanent Editorial Board Commentary No. [ ] Injunction Against a Noncomplying Disposition Under Section 9-610 of the UCC

California DFPI Issues Latest Proposed Regulations for CA SB 1235

NY State Issues Draft Regulations for Financial Disclosure Law

SFNet Submits Comments on Out-of-Court Workouts to Financial Stability Board

SFNet Comments to CA Finance Disclosure Proposed Regulations

SFNet Submits Comment Letter to California DFPI

SFNet Preparing Response to Latest CA Disclosure Regulation Request For Comment

New York State Extends the Effective Date of its new Financial Disclosure Legislation to January 22, 2022

SFNet Provides Summary of Economic Aid Act

House/Senate Approve Next Round of Economic Stimulus

SFNet Comment Letter to California DBO on Proposed Regulations for Implementation of Commercial Financing Disclosures

SFNet Advocacy Alert: CFPB Section 1071 Rule Could Place Burden on Financial Institutions—ACTION REQUIRED

Paycheck Protection Program (PPP) Policy Update – Wednesday, October 7, 2020

Support Building for More Constructive ABL Integration Into Main Street Lending Programs

SFNet Calls on Non-Bank Members to Oppose New York Disclosure Measure

The Paycheck Protection Small Business Forgiveness Act

SBA and Treasury Announce Enhanced Transparency Regarding the Paycheck Protection Program

Covid-19 Economic Injury Disaster Loan Program
 
Bill Easing PPP Limits Signed by President

SFNet Sends Letter to SBA and Treasury in Support of Non-bank Lenders Under CARES Act

Summary Of NJ Proposed Legislation: Disclosure / Licensing for Factors and ABL 

CARES Act Paycheck Protection Loan Program: From the Secured Lender Perspective

Comments on Proposed Regulations for implementation of Commercial Financing Disclosures

Small Business Reorganization Act Takes Effect in February 2020

U.S. Senate Ratifies U.N. Receivables Convention

SFNet's Comment Letter to California DBO

Governor Brown Signs SB CA 1235

ARRC LIBOR Fallback Consultation Notice