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HB2595 - 104th General Assembly
BUSINESS TRUTH IN LENDING ACT
Last Action
Statutes Amended In Order of Appearance
New Act
Synopsis As Introduced
Creates the Small Business Financing Transparency Act. Sets forth provisions concerning registration requirements for persons providing commercial financing; additional registration information; registration expiration; functions, power, and duties; subpoena power of the Secretary of Financial and Professional Regulation; disclosure requirements; commercial financing disclosure forms approved for use in other states; violation of disclosure requirements; notification; suspension of registrations, civil penalties, and other discipline; investigation of complaints; confidentiality; appeal and review; registration fees; cease and desist orders; injunctions; exemptions; complaint disclosure; rules; violations; limitations on liability; beginning of registration; beginning of disclosure requirements; severability; and a commercial financing database. Amends the Freedom of Information Act and the Consumer Fraud and Deceptive Business Practices Act to make conforming changes. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 2/04/2025 | House | Filed with the Clerk by Rep. Curtis J. Tarver, II |
| 2/06/2025 | House | First Reading |
| 2/06/2025 | House | Referred to Rules Committee |
| 3/04/2025 | House | Assigned to Financial Institutions and Licensing Committee |
| 3/21/2025 | House | Rule 19(a) / Re-referred to Rules Committee |