To assist equipment finance companies in tracking financial disclosure regulations that will impact their businesses, the Equipment Leasing and Finance Association developed a new interactive state-by-state disclosure map of legislative activity. This is the latest informational resource from the ELFA’s state advocacy team to help educate members about what they need to know about this important topic.
“For the first time, the industry has an easy-to-use tool to see the activity and access the litany of information in each state,” Scott Riehl, vice president of state government relations at the ELFA, said. “The interactive map is a continuation of ELFA’s nationwide efforts to protect and promote the industry’s interests while providing a running update on these state disclosure regulations sweeping the country.”
When using the map, users can hover their cursor over a state to view legislation status and details. When users click on a state, the map opens to the state’s actual enacted or proposed financial disclosure regulation. There are currently 16 states that have either passed or have financial disclosure legislation in progress. The map will be updated regularly.
Riehl and members of the ELFA’s state legislative and regulatory subcommittee have worked to exempt as many industry transactions as possible in order to reduce disclosure requirements on equipment finance companies and will continue to do so.
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