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Registration Begins Under Utah’s Commercial Financing Registration Act

Troutman Sanders

As we previously posted here , in March, Utah enacted its Commercial Financing Registration and Disclosure Act (CFRDA), requiring commercial financing providers to register with the Utah Department of Financial Institutions (DFI). Commercial financing transactions of more than $1,000,000.

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Luxury Car retailer in liquidation with debts of £1.14m

UK debt collections

Documents filed with Companies House yesterday (March 26) showed that BCA Partner Finance was the main creditor of Staffordshire-based Autovogue, which ceased trading in February – leaving a trail of dissatisfied customers. It stated: “With deep regret and a heavy heart Autovogue UK Limited has ceased trading.

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Utah Governor Signs Commercial Financing Registration and Disclosure Act

Troutman Sanders

On March 24, Utah’s governor signed the Commercial Financing Registration and Disclosure Act (CFRDA) into law. Under the CFRDA, beginning January 1, 2023, commercial financing providers must register with the Utah Department of Financial Institutions (Department) and provide certain disclosures.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Small Business Administration (SBA) began implementing additional policies aimed at expanding small business access to capital by modernizing SBA’s signature 7(a) and 504 loan programs. Banks reported that lending standards are currently on the tighter end of the range for all loan categories. dba DEBT Box.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

On September 20, the Senate Banking, Housing, and Urban Affairs Committee held a hearing on artificial intelligence (AI) in financial services. Increasingly, banks, brokers, and insurance companies are employing AI to process data, decide who can get a loan, and tailor financial products to customers.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures.