California Corporate & Securities Law

Regulation U, 12 CFR § 221.1 – 221.125, imposes certain requirements for lenders, other than securities brokers and dealers, who extend credit secured by margin stock. Regulation U defines "purpose credit" as "any credit for the purpose, whether...

In this early January post, I noted the passing of one of the de minimis exemptions under the California Financing Law.  This exemption was available to any person who makes no more than one loan in a 12-month period if that loan is a commercial loan...

Every month of the year has an Ides.  See Why Husbands Should Listen To Their Wives . . .

Ladies and Gentlemen, Start Gathering Your Data!

The California Financing Law prohibits any person from engaging in the business of a finance lender without first obtaining a license from the Commissioner of Financial Protection & Innovation. Cal. Fin. Code § 22100(a). The CFL defines "Finance...

Last August, I alerted readers of this blog to the Department of Financial Protection & Innovation's determination to require all existing licensees under the California Financing Law to transition to the Nationwide Multistate Licensing System. The...

Sometimes cases go off in directions that I simply do not expect.   In most cases, I would expect to see the plaintiff contend that it was injured in some way.  However, that was not the case in Lagrisola v. North Am. Fin. Corp., 2021 U.S. Dist. LEXIS...

As 2021 begins drawing to close, the Department of Financial Protection & Innovation has released its 2020 Annual Report of Finance Lenders, Brokers, and PACE Administrators Licensed Under the California Financing Law. According to the report, the...

On the eve of the Great Depression, the United States Bureau of Printing and Engraving made a big change by introducing small bills. The Bureau reduced the size of bills by about 30% to save money on ink and paper - the downsizing allowed 12 bills...