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.

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.

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.