TILA will be used to finance small enterprises under federal legislation

On July 30, Congresswoman Nydia Velázquez (D-NY), chair of the House Small Business Committee, ad New legislation titled “Small Business Loan Disclosure and Broker Regulation Act,” which would amend TILA and subject small business financing transactions to APR disclosures. Federal legislation would follow similar state legislation passed in California and awaiting the governor’s signature...

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