Uniform Commercial Code: Core commercial law framework including Article 9 (Secured Transactions), Article 2 (Sales), and Article 3 (Negotiable Instruments). Essential for structuring receivables purchases.
Federal Assignment of Claims Act: Federal law governing the assignment of claims against the United States government, crucial if any receivables involve federal contracts.
Consumer Protection Laws: Including Truth in Lending Act, Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), and CFPB regulations.
Securities Laws: Securities Act of 1933 and Securities Exchange Act of 1934, particularly relevant if the receivables are to be securitized.
Banking Regulations: Including Bank Secrecy Act and Dodd-Frank Wall Street Reform Act, particularly regarding true sale opinions and banking requirements.
State-Specific Laws: Including state usury laws, state commercial codes, and state-specific consumer protection regulations that vary by jurisdiction.
Bankruptcy Code: Federal bankruptcy laws concerning true sale versus secured lending and bankruptcy remoteness considerations.
Tax Laws: IRS regulations regarding sale vs. financing treatment and state tax implications of receivables purchases.
Privacy Laws: Including Gramm-Leach-Bliley Act, state privacy laws, and GDPR compliance requirements for handling financial and personal information.
