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Financial Services Industry Finance Lender California

Allen Matkins

A Critical Prepositional Phrase Is Missing From This California Statute

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It is a peculiar hubris of California's legislators that they often presume to extend the application of the state's laws beyond its legal borders.  Corporations Code Section 2115, for example, presumes to apply multiple...more

Allen Matkins

California Bill Would Deem Some Lenders As Licensed

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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

Allen Matkins

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

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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

Allen Matkins

Court Of Appeal Finds No Private Right Of Action Against Unlicensed Lender

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Section 22100 of the California Financial Code prohibits persons from engaging in the business of a finance lender or broker without obtaining a license from the California Commissioner of Financial Protection & Innovation. ...more

Allen Matkins

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

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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

Allen Matkins

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

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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

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