Each year, licensees under the California Financing Law (Cal. Fin. Code § 22000 et seq.) must file an annual report with the Department of Financial Protection & Innovation. The report is due on the Ides of March (the Ides of March). The DFPI uses...
It's Lupercalia! CFL Annual Reports Are Due In 30 Days
Posted on February 15, 2024
Court Rules That Debate And Litigation Do Not Necessarily A Controversy Make
Posted on December 08, 2023
In June of 2022, I reported on the adoption of commercial financial disclosure rules by the California Department of Financial Protection & Innovation. These rules were adopted pursuant legislation, SB 1235, that was enacted in 2018. In December of...
Will New DFPI Lending Rules Reduce The Availability And Raise The Cost Of Small Business Loans In California?
Posted on August 30, 2023
Three years ago, Governor Newsom signed AB 1864 into law. This legislation gave the Department of Financial Protection & Innovation the authority to define unfair, deceptive, and abusive acts and practices in connection with the offering or...
Legislator Proposes To Expand CFL To Encompass "Commercial Brokers"
Posted on March 01, 2023
The California Financing Law currently requires the licensing of "finance lenders" and "brokers". Cal. Fin. Code § 22100. A "finance lender" is defined to include "any person who is engaged in the business of making consumer loans or making...
Judge Rules CFL Applies To Cryptocurrency Lending
Posted on October 20, 2022
The California Financing Law prohibits any person from engaging in the business of a "finance lender" without a license from the Department of Financial Protection & Innovation. Cal. Fin. Code § 22100(a). The CFL provides that a "'finance lender' ...
OAL May Soon Decide Fate Of California's Proposed Commercial Financing Rules
Posted on June 08, 2022
In September 2018, then Governor Jerry Brown signed SB 1235 into law. SB 1235 added a new division to the Financial Code imposing specific loan disclosure requirements on providers of commercial financings. These disclosures include:
CFL Licensees: Beware Of The Ides Of March!
Posted on February 23, 2022
Every month of the year has an Ides. See Why Husbands Should Listen To Their Wives . . .
DFPI Grants Year-End Reprieve To CFL Licensees
Posted on December 21, 2021
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...
Plaintiffs Succeed In Arguing That They Suffered No Injury!
Posted on November 12, 2021
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...
