Simple days before Halloween, California enacted California Senate Costs 666, enforcing a set of constraints on the costs that industrial financers might charge their small company consumers. SB 666 carefully follows an August 2023 rulemaking by the California Department of Financial Security and Development targeting unreasonable, misleading, or violent acts or practices (“& ldquo; UDAAPs & rdquo;-RRB- in industrial funding and needing industrial financers to send yearly reports of their activities to the state. Provided California’& rsquo; s history as a bellwether, these advancements are an indicator that states are refrained from doing managing small company funding.
Mayer Brown’& rsquo; s Legal Update supplies more information for business that provide industrial funding in California.