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...
Will New DFPI Lending Rules Reduce The Availability And Raise The Cost Of Small Business Loans In California?
Posted on August 30, 2023
Bill Would Prohibit Charging Certain Commercial Loan Fees To Small Businesses
Posted on April 14, 2023
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:
California's Commercial Loan Disclosure Requirements May Be Unconstitutional And/Or Preempted
Posted on April 06, 2023
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...
Can Usury Ever Be Waived?
Posted on May 30, 2017
California courts have defined "usury" as "the exacting, taking or receiving of a greater rate than is allowed by law, for the use or loan of money." Ross v. Wheeler 140 Cal. App. 217, 222 (1934). The California Constitution sets the maximum rate of...
