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Allen Matkins

Judge Rules That A Front For Mexican Cartel Had The Capacity To Protect Its Own Interests

Allen Matkins on

California Corporations Code Section 25118(b) provides an exemption from the state's usury limitations for loans.  The exemption is subject to several conditions.  One condition is the existence of either a preexisting...more

Troutman Pepper

Opportunity Financial Scores Big Win in CA DFPI’s “True Lender” Lawsuit

Troutman Pepper on

A California state court recently denied a preliminary injunction sought by the California Department of Financial Protection and Innovation (the DFPI) in its long-running litigation against Opportunity Financial (OppFi)...more

King & Spalding

Ninth Circuit Addresses Issue of First Impression Concerning the Usury Defense Under California Law

King & Spalding on

On May 25, 2023, the U.S. Court of Appeals for the Ninth Circuit, in a two-to-one split decision, held that an exemption to California’s usury laws for certain “aggregate” loan amounts applies only to indebtedness of a single...more

Ballard Spahr LLP

California DFPI is Wrong on Both Law and Facts, per OppFi

Ballard Spahr LLP on

In its April 2023 Opposition to the California Department of Financial Protection and Innovation (DFPI) motion for preliminary injunction, Opportunity Financial, LLC (OppFi) presents a spirited riposte, drilling down into the...more

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