California Corporate & Securities Law

While the California Financing Law defines "finance lender", it does so in a very open-ended and nonspecific manner. Cal. Fin. Code § 22009 ("'Finance lender' includes any person who is engaged in the business of making consumer loans or making...

Beginning in January, "covered entities" will be prohibited from charging specified fees in connection with a commercial financing transaction with a "small business" or "small business" owner.  Cal. Stat. ch. 881 (SB 666). Although relatively brief,...

Yesterday's post concerned discussed Lagrisola v. North American Financial Corp., 2023 WL 7273708 (Nov. 3, 2023), in which the Court of Appeal held that a borrower had failed to plead a cause of action against an unlicensed lender under Section...

Section 22100 of the California Financial Code prohibits persons from engaging in the business of a finance lender or broker without obtaining a license from the California Commissioner of Financial Protection & Innovation. Section 22751 provides...

The many California laws are intended to protect borrowers.  The California Financing Law, for example, provides that it is to be liberally construed to, among other things, "protect borrowers against unfair practices by some lenders, having due...

Yesterday, the California Supreme Court issued its opinion in Law Finance Group, LLC v. Key, 2023 WL 4168752.  The Court's opinion answers the question of whether the deadline for seeking vacatur of an arbitral award set forth in Section 1288.2 of...

California Senator Dave Min has authored an unfortunately numbered bill, SB 666, that would prohibit a "covered entity"  from charging the following fees to a small business in connection with a commercial financing transaction: 

I have devoted several posts to a California commercial loan disclosure law that was enacted in 2018 - SB 1235 (Glazer). Although the bill became effective on January 1, 2019, lenders were not obligated to comply until the Department of Financial...

Lenders and brokers licensed under the California Finance Lenders Law must file an annual report by the Ides of March (i.e.,March 15) of each year.  Cal. Fin. Code § 22159.  This is a hard deadline and the Department of Financial Protection &...