New York MCA Final Disclosure Laws

New York State, by all accounts the haven State for Merchant Cash Advances, ironically is also one of the first States to enact laws that require certain consumer like disclosures even for several commercial loans.

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New York MCA Laws Updated

SB 5740 applies to Merchant Cash Advance. In fact, New York law writers took the time to list a Merchant Cash Advance as one kind of non-bank lending the Statute is designed to govern.

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Tackle All Your Debt with A Debt Relief Attorney

These purported specialists fail to inform the debtor that they can only attempt to address unsecured debt such as credit cards and medical bills. A non-attorney is legally prohibited from giving legal advice & most are not qualified to deal with secured debt like real estate mortgages or car loansc

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New York Enacts APR Disclosure Laws

S.B. 5470 is a New York law requiring non-bank lenders to provide corporate borrowers specific disclosures in the loan paperwork and prior to formal consummation of the loan.

https://grantphillipslaw.com/n....ew-york-enacts-apr-d