Leader of Manatt’s Consumer Financial Services Practice Scott Pearson was quoted in American Banker about a new California regulation that will provide more disclosures to small businesses.
While the regulation ends a years-long regulatory process that some say will help businesses make financial decisions, Pearson told the publication the new regulation may not be straightforward. He said the various state requirements lenders have to navigate make the process “very costly and difficult” and ultimately could mean credit is more expensive for businesses.
Subscribers can read the American Banker article here.