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Consumer Financial Products CA Supreme Court

Troutman Pepper Locke

The Current State of the Holder Rule: Friend or Foe? — Moving the Metal: The Auto Finance Podcast

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In this episode of Moving the Metal: The Auto Finance Podcast, Brooke Conkle and Chris Capurso from Troutman Pepper Locke's Consumer Financial Services Practice Group examine the current status of the Federal Trade...more

Troutman Pepper Locke

Lemon Law Shakeup: Rodriguez vs. FCA US Has Unexpected Result – Moving The Metal Podcast

Troutman Pepper Locke on

In this episode, Brooke Conkle and Chris Capurso, attorneys in the firm’s Consumer Financial Services practice, are joined by Partner Ethan Ostroff to discuss the recent Supreme Court of California decision in Rodriguez vs....more

Patton Sullivan Brodehl LLP

Lenders Have No Duty to “Process, Review, and Respond Carefully and Completely” to Loan Modification Applications

One of the unresolved issues over the past several years in the realm of lender liability law is whether lenders owe tort duties to borrowers in connection with loan modification applications. Until now, case law has been all...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - October 2020

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Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more

Sheppard Mullin Richter & Hampton LLP

California Supreme Court Rules That Loans Not Subject To Usury Cap May Still Be Unconscionable

The California Supreme Court ruled on Monday, August 18, that an interest rate on a consumer loan in California could be deemed illegally high even if the loan is not subject to the state’s usury law. Consumer loans of...more

Goodwin

California Supreme Court Rules that Loans Can be Unconscionable Due to High Interest Rates, Despite Lack of Interest Rate Cap

Goodwin on

On August 13, 2018, the California Supreme Court answered a question certified to it by the Ninth Circuit, holding that a loan with a high interest rate can be unconscionable, even if the legislature specifically declined to...more

Womble Bond Dickinson

California Supreme Court Holds That High Interest Rates on Payday Loans Can be Unconscionable

Womble Bond Dickinson on

On August 13, 2018, the California Supreme Court in Eduardo De La Torre, et al. v. CashCall, Inc., held that interest rates on consumer loans of $2,500 or more could be found unconscionable under section 22302 of the...more

Ballard Spahr LLP

CA Supreme Court holds high-interest loans may be subject to price unconscionability attack

Ballard Spahr LLP on

Resolving an ambiguity in the California Finance Lender’s Law (CFLL), the California Supreme Court unanimously held that borrowers may use the unconscionability doctrine to challenge the interest rate on consumer loans of...more

Stinson LLP

California Supreme Court Rules that Consumer Loans Not Subject to Usury Cap May Still Be Deemed Unconscionable

Stinson LLP on

On Monday, August 13, the California Supreme Court unanimously ruled that the interest rate on a consumer loan in California can be deemed illegally high, even if the loan was not subject to the state’s usury cap....more

Ballard Spahr LLP

Calif. Supreme Court: High-Interest Loans May Be Subject to Price Unconscionability Attack

Ballard Spahr LLP on

Resolving an ambiguity in the California Finance Lender's Law (CFLL), the California Supreme Court unanimously held that borrowers may use the unconscionability doctrine to challenge the interest rate on consumer loans of...more

Allen Matkins

California Supreme Court Empowers The DBO And The Courts To Regulate Interest Rates

Allen Matkins on

Section 22303 of the California Financial Code establishes the maximum interest rates applicable to loans less than $2,500. The preceding section incorporates by reference the general Civil Code provision about contract...more

Mintz - Real Estate, Construction &...

California Usury Law: A Search for Clarity around Compound Interest

California usury law is addressed in multiple places: the California Constitution, statutes, case law, and initiative measures. Due to the patchwork nature of this body of law, differing interpretations and ambiguity are...more

Ballard Spahr LLP

California Supreme Court to Decide Key Finance Lender Law Usury and Unconscionability Issue

Ballard Spahr LLP on

Although the California Finance Lenders Law (the CFLL) does not limit the interest rates that may be charged on loans of $2,500 or more, Section 22302 of the law expressly states that loans made under the CFLL may be held...more

Orrick, Herrington & Sutcliffe LLP

California Supreme Court Declines to Extend Tribal Sovereign Immunity to Payday Lending Businesses

On December 22, 2016, the California Supreme Court issued People ex rel. Owen v. Miami Nation Enterprises. The decision found that certain tribal business entities that provided loans in California are not "arms of the tribe"...more

Ballard Spahr LLP

Tribal Sovereign Immunity Not a Bar to Payday Lending Enforcement Action, California Supreme Court Rules

Ballard Spahr LLP on

In a state enforcement action alleging violations of California's lending law and seeking to enjoin continued lending to state residents, the California Supreme Court has ruled that the two tribally affiliated entities that...more

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