Utah and Virginia recently became the first two states to require the registration of providers of merchant cash advances.  The new laws also include disclosure requirements.  (Although laws requiring disclosures for merchant cash advances already exist in California and New York, those laws have not yet become effective.)

Utah. … Continue Reading

On July 1, Virginia Governor Northam signed Senate Bill 1410 which amended several Virginia anti-discrimination statutes to prohibit discrimination based on “military status.”  For purposes of the various amendments, the term “military status” is defined as:

status as (i) an active military service member who performs full-time duty in the Armed Forces of the United States, or a reserve component thereof, including the United States National Guard and the Virginia National Guard, (ii) a veteran who was an active military service member discharged or released therefrom under conditions other than dishonorable, or (iii) a spouse or child of an active military service member or veteran, or an individual of any relationship to an active service member or veteran where the active service member or veteran provided more than one-half of the individual’s support for at least 180 days immediately preceding an alleged action that if proven would constitute unlawful discrimination under this chapter.… Continue Reading

Virginia’s Attorney General has announced that “he has secured more than $50 million in debt relief and ordered civil penalties” as a result of his lawsuit filed in state court in March 2018 against Future Income Payments, LLC; FIP, LLC; and their individual owner for allegedly making loans to Virginia consumers, many of whom were military veterans, that were falsely marketed as asset purchases.  … Continue Reading