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A year ago, the U.S. Court of Appeals for the Ninth Circuit certified the case, De La Torre v. CashCall, S241434, to the California Supreme Court. The inquiry and question?  “Can the interest rate on consumer loans of $2500 or more governed by California Finance Code § 22303, render the loans unconscionable under California Finance Code § 22302?” The Federal court stated that deciding the issue itself would involve it in “impermissible economic policy-making.” In August 2018, the California Supreme Court held that otherwise legal loans may be held unconscionable under the CFLL and California courts indeed have the power to make such a determination.

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Factoring Can Ensure Timely Payment & Cash Flow

Unanticipated or unexpected growth may overwhelm a business, especially one that’s growing. Perhaps you’ve increased your marketing team and they’ve ably responded adding new accounts. As sales increase and expectations rise, so do the risks inherent in the business. However, there are ways a small business can more easily facilitate growth while minimizing all the corresponding associated pitfalls. One such way is to engage in the factoring services of a third party.

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Update On SB 1235 – August Amendments

SB 1235 targets commercial transactions by requiring some commercial lenders to disclose interest rates in some commercial loans. SB 1235 would require commercial finance companies to disclose various costs, rates, and fees. Since June, the bill has been amended again, this time most recently on August 24, with much of the explanatory language contained in the legislation’s definitions deleted.

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Online Lending And Small Business

While a primary need of small businesses is the funding to establish operations, the capital to maintain and expand business operations is just as important. Funding is necessary to pay employees, buy supplies, and market the business. And these are just some of the primary costs of operating a business as there are various other expenses depending on variables such as the type of business and related legal regulations.

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Advertising Rules For Brokers & Agents Changed In 2018

In 2018, California real estate agents and brokers became subject to a new set of regulations applicable to advertising by the enactment of AB 1650. Although the bill was signed into law by Governor Brown in August of 2016 (8/19/16), it did not become effective until January 1, 2018. The act in substance was referred to by California legislators as containing “uniform advertising standards.”

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Assembly Bill 3207 is a California bill aimed at commercial transactions that will change the law defining brokers in California. On August 6, 2018, the bill, in the committee process, was placed on suspense file by a unanimous vote.

Read more on Update On AB 3207: Bill Would Change Definition Of “Broker” Under California Law…

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Major Changes to Doing Leasing and Finance Business: SB 1235

SB 1235 is one of two bills in California aimed at commercial transactions that will change California’s Finance Laws. The bill is an act that would be added to Division 9.5 (commencing with Section 22800) to the Financial Code, relating to commercial financing. SB 1235, introduced by Senator Steve Glazer (D), was referred to the Senate Banking and Finance Committee, passing through committee on June 25, 2018.

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Major Changes to Doing Leasing and Finance Business: AB 3207

Assembly Bill 3207 is one of two bills in California aimed at commercial transactions that will change California’s Finance Laws. The bill is an act to amend Sections 22004, 22059, 22100, 22337, 22338, 22602, 22604, and 22701 of, and to add Sections 22005.5, 22010.5, 22050.1, 22337.5, 22338.5, and 22348 to, the Financial Code, relating to finance lending. The hearing date before the Banking & Finance Committee is scheduled for August 6, 2018.

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As summer began, the judges of the United States District Court for the Eastern District of California (E.D. Cal.) drafted a letter to the members of the United States Senate and House of Representatives providing notice of a current crisis as well as a warning that any exacerbation of this crisis will have serious and devastating consequences. The most significant consequence is that the eight million residents of the Eastern District face inaccessibility to the United States Federal Court system.

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Court of Appeal Decides Equitable Tolling Case

Today’s blog reviews a case where the plaintiffs were time-barred from filing their lawsuit by the statute of limitations, but tried to claim that the filing of a different lawsuit by a third-party satisfied the statute. In Reid v. City of San Diego - filed May 25, 2018, Fourth District, Div. One 2018 S.O.S. 2617, Plaintiffs, Yvonne Reid and Serena Wong, sued the City of San Diego (City) and the San Diego Tourism Marketing District (TMD) in a putative class action complaint, claiming that the defendants were charging “an illegal hotel tax.”

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