Bill Would Prohibit Charging Certain Commercial Loan Fees To Small Businesses

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

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?

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...