New commercial financing disclosure requirements will take effect in California on Dec. 9 and the Equipment Leasing and Finance Association is providing critical informational resources to help its members prepare.

“ELFA’s State advocacy team has been lobbying rigorously on the issue of disclosure laws since they were first introduced,” Scott Riehl, VP of state government relations at the ELFA, said. “With the effective date in California just a few weeks away, we are encouraging industry members to consult the association’s resources on this topic. In particular, the recordings of two webinars, which drew more than 1,000 participants and included detailed question-and-answer sessions, should be especially helpful for those who have questions about the new requirements.”

ELFA’s “Lender License and Enhanced Financial Disclosure” has a wide range of materials, including:

• An issue overview of state finance disclosure
• A recording of the July 28 webinar “Operational Preparedness: Are You Ready for the New CA and NY Disclosure Requirements?,” which attracted more than 580 participants. It includes the slide deck, in-depth Q&A session and webinar recap
• A recording of the first webinar held on Dec. 15, 2021, “ELFA State Advocacy New Year’s Resolutions: Prepare for Commercial Financing Disclosure Laws in New York and California,” which attracted more than 550 participants. Includes the slide deck, in-depth Q&A session and webinar recap.
• The State advocacy team’s legislative testimony and regulatory comments, requests for guidance and regulatory responses.