California Corporate & Securities Law

The California Department of Financial Protection & Innovation recently issued is 2021 Annual Report of Operation of Finance Lenders, Brokers, and PACE Administrators Licensed Under the California Financing Law. The DFPI reports a nearly 12%...

The word "church" has an interesting ancestry.  It most likely began as a Germanic word that entered the Greek language and then moved on to English.  The Greek word, κυριακός, means for or of an owner, master or lord (κύριος means master or lord, as...

March 15 was the deadline established by California's Department of Financial Protection & Innovation for licensees under the California Financing Law to transition to the Nationwide Multistate Licensing System. I recently asked the DFPI about the...

Last week, Opportunity Financial, LLC filed a lawsuit challenging the Department of Financial Protection & Innovation's alleged threat to take enforcement action for violating AB 539, the so-called Fair Access to Credit Act. Enacted in 2019, AB 539...

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...