Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Lawmakers split over APR disclosure for commercial financing; one member warns it could confuse borrowers
Summary
HB5211, concerning commercial financing and APR disclosure for unconventional revenue-based loans, prompted extended debate. One member argued APR could mislead borrowers because these loans are not structured like traditional loans; the chair defended the incremental regulatory approach and said Connecticut would monitor practice in New York and California.
HB5211, a commercial financing bill aimed at adding data-security and disclosure protections for certain financial products, drew an extended exchange on whether requiring APR disclosure is helpful or misleading for revenue-based, nonconventional loans.
A committee member (Representative Ochsah, S3) said…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
