The short answer
As of August 2026, ten states require commercial financing disclosures: California, Connecticut, Florida, Georgia, Kansas, Missouri, New York, Texas, Utah and Virginia. Several now attach broker or provider registration to those regimes, and Texas has a hard registration deadline of 31 December 2026. New Jersey is frequently listed as enacted; its bill is still proposed.
The ten states with disclosure laws
These require a provider to give a merchant standardised cost disclosures before signing. What has to be disclosed, and in what format, varies.
| State | Notes |
|---|---|
| California | SB 362 took effect 1 January 2026, tightening rules for brokers who discuss pricing directly. Providers file an annual transaction report by 15 March. |
| Connecticut | Disclosure regime in force |
| Florida | Disclosure, with registration |
| Georgia | Disclosure, with registration |
| Kansas | Disclosure regime in force |
| Missouri | Disclosure regime in force |
| New York | Disclosure, with broker registration |
| Texas | HB 700 effective September 2025; registration deadline 31 December 2026 |
| Utah | Disclosure, with registration |
| Virginia | Disclosure, with registration |
Where brokers specifically have to register
This is the shift worth tracking. Disclosure obligations sit mostly on the funder. Registration obligations increasingly name brokers — and registration is the one a regulator can verify with a database query rather than an investigation.
Registration states, and the one with a deadline
What is commonly reported but not accurate
Worth stating plainly, because planning around a requirement that does not exist wastes money and planning around one that does can cost more.
- New Jersey is often listed among enacted states. Its bill remains proposed and has not been enacted.
- Several sources put the count at eleven states. Tracking by firms that follow this area puts it at ten as of August 2026.
- Business-to-business status is sometimes described as an exemption from these regimes. It is not — commercial financing disclosure laws exist precisely because the transactions are commercial.
What a broker should actually do
- Write down the states you place files in. Most shops have never made this list, and it is the input to every other question here.
- Check registration status for each state on that list, not the states you think of as your market.
- Put the Texas deadline in a calendar for well before December rather than during it.
- Ask each funder how they handle disclosure in the disclosure states — a merchant receiving a defective disclosure is a problem that reaches back to the file you placed.
- Keep your own record of what you told a merchant about pricing. In the states tightening broker conduct, that conversation is increasingly the regulated one.