CA SB1482

Expands the California Consumer Financial Protection Law (CCFPL) to include protection of small businesses from abusive financial practices, in addition to existing consumer protections

Prohibits commercial financing providers and brokers from taking a confession of judgment or power of attorney before a default occurs

Prohibits commercial financing providers and brokers from including provisions that authorize attachment or garnishment of a recipient's depository institution accounts

Prohibits unconscionable commercial financing transactions and provisions that restrict recipients from disclosing information about the terms and conditions of products or services offered by the registrant