Banking Sector, Lenders, California

Consumer Finance State Roundup - March 2025

Alston & Bird on 3/7/2025

The latest edition of the Consumer Finance State Roundup highlights recently enacted measures of potential interest from two states: California: Effective January 1, California Assembly Bill 3108 addresses mortgage fraud. ...more

California Bill Would Deem Some Lenders As Licensed

Allen Matkins on 5/30/2024

California generally requires that persons engaged in the business of making loans be licensed. If not licensed under some other statute (such as the banking, credit union or residential mortgage lending laws), a lender will...more

Court Ruling Deals Blow To DFPI's "True Lender" Theory

Allen Matkins on 11/15/2023

While the California Financing Law defines "finance lender", it does so in a very open-ended and nonspecific manner. Cal. Fin. Code § 22009 ("'Finance lender' includes any person who is engaged in the business of making...more

Finance Lenders: It's Time To Pay Your Annual Assessment

Allen Matkins on 10/4/2022

The California Financing Law requires each licensed lender, broker, and program administrator licensee to pay its pro rata share of all costs and expenses of the administration of the law, as estimated by the Commissioner,...more

Court: OTC Company Has The Capacity To Protect Its Own Interests

Allen Matkins on 7/26/2022

Notably, California has a constitutional limitation on interest rates (Cal. Const. Art. XV, Section 1). Section 25118 exempts certain evidences of indebtedness that meet specified conditions. One of these conditions is...more

California Bids Adieu To Its Tiniest De Minimis CFL Exemption

Allen Matkins on 1/3/2022

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). ...more