Tag: Legal

Senate Bill 1286 (SB 1286), signed into law by California Governor Gavin Newsom on Sept. 24, 2024, will extend existing consumer debt collection protections in the state to small businesses and to the collection activities of business debt.

A federal judge in Kentucky partially blocked the Disadvantaged Business Enterprise program, a decades-old Department of Transportation program that aims to grant women- and minority-owned businesses equal footing when bidding on government contracts.

Escheatment is the legal process of transferring unclaimed or abandoned property to the state such as bank accounts, uncashed checks, credit balances or other funds that have not been claimed by customers or vendors within a specified period.

The credit department aims to maximize safe sales, requiring tough decisions. Denying credit is a last resort but sometimes essential.

Since Colorado first legalized medical cannabis in 1996, more than half of the U.S. has legalized marijuana for recreational use today. But possession and distribution or sale remains illegal under federal law—meaning any money that can be traced back to state cannabis operations could expose banks to significant regulatory risk.

Competition creates significant consumer benefits, including increased innovation, efficiency, variety, quality and lower prices. Antitrust laws, which prevent companies from unfairly dominating markets or stifling competition, ensure that customers have options. Why it matters: Understanding and complying with antitrust laws is essential in the credit industry to preserve competition, prevent violations that could lead to severe penalties including fines and imprisonment, and maintain a company’s reputation and future business opportunities.

After a brief respite of bipartisanship in January, the border security and foreign aid package is officially dead in the water, and the Senate’s busy legislative calendar has effectively stalled the bipartisan tax package that the House passed last week. In other words, everything is back to normal in D.C. On Wednesday, Jan. 31, the House passed, by a strong margin of 357-70, a bipartisan tax package that extended the increased child tax credit for another two years as well as several business tax provisions that were part of the Trump tax cuts in 2017. Most notably:

In response to global conflicts, the U.S. and its allies have increased economic sanctions and enforcement measures against various countries. Businesses can minimize their exposure to these changes by regularly monitoring sanction updates, understanding applicable laws, integrating sanctions compliance into regulatory processes and strengthening Know-Your-Customer (KYC) policies. Why it matters: The noticeable surge in, attention to and enforcement of international trade requirements and regulations underscore the need for credit managers to stay vigilant and be aware of potential …

In response to global conflicts, the U.S. and its allies have increased economic sanctions and enforcement measures against various countries. Businesses can minimize their exposure to these changes by regularly monitoring sanction updates, understanding applicable laws, integrating sanctions compliance into regulatory processes and strengthening Know-Your-Customer (KYC) policies. Why it matters: The noticeable surge in, attention to and enforcement of international trade requirements and regulations underscore the need for credit managers to stay vigilant and be aware of potential …