SFNet has submitted a letter in response to the Consumer Finance Protection Bureau’s (“CFPB”) request for comments regarding the CFPB’s position that the recent regulations enacted by California’s Department of Financial Protection and Innovation in support of the California’s Commercial Disclosure Act and the proposed regulations being promulgated by the Department of Financial Services of the State of New York in support of commercial loan disclosure provisions of the New York Commercial Finance Law do not preempt the federal Truth in Lending Act (“TILA”) and Regulation Z which implements TILA.

Visit SFNet's Deal Table