California Corporate & Securities Law

Over the last two years, I have written about California's nascent entry into public banking.  See Would You Bank On Los Angeles?, Governor Signs Bill Authorizing Public Banks - What Could Possibly Go Wrong?, and When, If Ever, Will California...

 A little over a year ago, California Governor Gavin Newsom signed  legislation, AB 857 (2019 Cal. Stats. ch. 442) local agencies to establish so-called "public banks", subject to approval by the Department of Financial Protection and Innovation and...

In August 2019, I never would have imagined that a banking regulator would be required customers to wear masks.  In today's changed world, banking regulators are doing just that.  The California Department of Business Oversight in its August monthly...

The California Department of Business Oversight regulates the money transmission business pursuant to the Money Transmission Act, Cal. Fin. Code § 2000 et seq.  The Act currently defines "money transmission" as any of the following:

Six years ago, I wrote about the enactment of legislation, AB 2364 (Wagner) intended to make it easier to levy on bank accounts.  The law requires a bank or financial institution with more than nine branch offices within California to designate one...

I have written several posts on SB 528 (Hueso), a bill that I considered a potential "sleeper". In my parlance, a "sleeper" is a bill that doesn't attract much attention but results in big changes.  SB 528 would have chartered the California...

Yesterday, I wrote about legislation that would authorize local governments to form their own local or regional public banks.  Senator Ben Hueso has a somewhat different idea.  He has introduced a bill, SB 528, that would establish the California...

In April, I kvetched about numerous outdated references in the California Corporations Code.  For example, several provisions of the Code continue to refer to the "Internal Revenue Code of 1954" more than three decades after the enactment of the...