Leasing News: NJ State Senate Unanimously Votes to Advance Legislation Requiring Small Business Lenders and Brokers Truth in Lending-Type Disclosures
December 27, 2018
Robert L. Hornby authored a Leasing News article titled, “NJ State Senate Unanimously Votes to Advance Legislation Requiring Small Business Lenders and Brokers Truth in Lending-Type Disclosures.” The article reviews the Senate Bill 2262 as it continues to progress through the legislative process. As discussed in the article, some of the more significant changes, which include changes from an earlier substituted bill, are that: (i) qualifying financing transactions have increased to $500,000; (ii) the disclosures for each type of transaction are (allegedly) better defined; and (iii) brokers now have a written disclosure requirement wholly independent from the financing company.
To read the full article, please visit the Leasing News website.