Contact us at (949) 353-6347

    California Commercial Loan Disclosure Rules Proposed For Comment

    In 2018, the California legislature enacted SB 1235 (Chapter 1011, Statutes of 2018).  This legislation requires that lenders make disclosures to borrowers in a "commercial financing" (as defined).  SB 1235 requires the Department of Business...

    Finance Lenders

    Department Issues "Opinion" That Deferred Payment Product Meets Definitions Of "Loans"

    As mentioned in my post last week, the Department of Business Oversight issued a press release shortly after Christmas announcing that it had issued a "legal opinion" concerning whether a point-of-sale product constitute loans for purposes of the...

    Finance Lenders, California Financing Law

    Another Foolish Inconsistency - This Time For Broker-Dealers

    Yesterday's post chided Glass, Lewis & Co., LLC for its inconsistent positions on majority rule.  Today's post tackles a foolish inconsistency in the California Codes.  Section 25217(c) of the California Corporations Code provides:

    broker-dealer, Broker-Dealers, Cal. Const. Art. XV, Finance Lender, Finance Lenders, Finance Lenders Law, In re Stephan, personal property broker, Section 22050, Section 25217

    Does The California Finance Lenders Law Prohibit "Table Funding"?

    A loan is "table funded" when at settlement it is contemporaneously assigned to the person that provides the funds.  Is table funding an illegal business practice under the California Finance Lenders Law?  The Fourth District Court of Appeal has its...

    Le v. Sunlan, table funding, White & Whitley Grp. v. Wilson, Finance Lenders, 10 CCR Section 146, Braden v. BH Fin. Services, Financial Code Section 22340, Financial Code Section 22600

    Will California Regulate Lead Generators?

    These are the new leads. These are the Glengarry leads. And to you they're gold, and you don't get them. Why? Because to give them to you is just throwing them away. They're for closers. I'd wish you good luck but you wouldn't know what to do with...

    SB 297, Finance Lenders, lead generators

    Consumer Loan, Commercial Loan or Neither?

    The California Finance Lenders Law imposes a licensing requirement on persons engaged in the business of a finance lender.  Cal. Fin. Code § 22100(a).  Chapter 2 of the CFLL imposes a host of requirements on "consumer loans" and Chapter 3 imposes a...

    Financial Code, Section 22502, Finance Lenders, 22550, Cal. Fin. Code, Section 22203, troisieme voie

    Finance Lenders Annual Report Deadline Is Nigh

    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 Business Oversight does not...

    Nones of April, SB 297, Finance Lenders, Finance Lenders Law, annual report, CFLL, finders, ides of march, Senator Bill Dodd

    Bill Introduced To Require Registration Of Finders Under The California Finance Lenders Law

    The California Finance Lenders Law, Financial Code § 22000 et seq., currently requires licensing of finance lenders and brokers.  A finance lender is defined as any person who is engaged in the business of making consumer loans or making commercial...

    Financial Code, SB 297, Section 22009, Finance Lenders, CFLL, finders, Senator Bill Dodd