Under a California law taking effect in 2028, commercial financing licensing requirements have been substantially expanded — meaning that fintechs relying on limited regulatory enforcement will face risk from their own borrowers, who could use licensing failures to resist repayment, say attorneys at Husch Blackwell.
By Christopher Friedman and Alexandra McFall ( October 23, 2026, 4:50 PM EDT) -- California has substantially expanded its commercial financing licensing requirements, and borrowers may be able to avoid repaying companies that fail to obtain a required license....
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