CA Debt Settlement Bill is Amended to Exclude MCAs, Factoring and Only Include Loans

After deBanked reported on a commercial financing debt settlement bill moving its way through the state legislature in California, a committee promptly revised the whole thing to specify that it should be for commercial loans only. The language was revised to remove its applicability to “accounts receivable purchase transactions, including factoring, asset-based lending transactions, or lease financing transactions.”

The most recent version of the bill can be viewed here.