In another decision that blocks cannabis businesses from bankruptcy relief, a Colorado district court affirmed the dismissal of Chapter 11 bankruptcy petitions filed by companies that sold machinery and equipment used…
In a decision issued on October 31, 2019, the California Court of Appeal held that a lower court erred in enforcing a forum selection clause where it included a pre-dispute…
Taking effect in just two months on January 1, 2020, The California Consumer Privacy Act of 2018 (“CCPA”) empowers consumers with various rights when their personal information is collected by most businesses….
The Commissioner of the Department of Business Oversight is seeking comments on proposed regulations that (1) require all licensees under the California Financing Law to register through the NMLS (Nationwide…
As Sears continues to hang on by a thread, many unpaid Sears vendors have grown impatient with awaiting payments from the debtor as it continues operations. In late September, yet another group…
As the U.S. House of Representatives was passing HR 1595, the Secure and Fair Enforcement Banking Act of 2019 (SAFE Banking Act), the California Department of Business Oversight (DBO) issued guidance to…
As autumn’s leaves began to fall, the U.S. House of Representatives passed the Secure and Fair Enforcement Banking Act of 2019 (SAFE Banking Act), giving cannabis businesses long-awaited access to federal financial…
When President Trump signed H.R. 3311 into law, it was not unsurprising that the bill was pro-creditor to some extent. While Congress intended that the Small Business Reorganization Act (SBRA)…
When a creditor receives notice of a bankruptcy filing, not only is it informed of the commencement of a bankruptcy case, but it also receives notice of a federal court injunction…
On August 23, 2019, President Trump signed the Small Business Reorganization Act (SBRA) into law, intended to streamline bankruptcy reorganizations for small business debtors with limited aggregate liabilities. The SBRA…
President Trump signed the Small Business Reorganization Act (SBRA) on August 23, effective 180 days from this date. SBRA aims to assist small business debtors to resolve their outstanding debts…
Last week, on the final day of the legislative session, Friday the 13th in fact, the California Senate passed an extensive bill, AB 539, which adds and amends several provisions…
In general, any person engaging in the business of a finance lender or finance broker is required to obtain a California Finance Lenders (CFL) license. Anyone that conducts business without…
The California Financing Law, § 22000 et seq. (CFL) regulates finance lenders and brokers in the consumer and commercial loan business. The CFL defines a finance lender “any person who…
The California Financing Law (CFL) formerly known as the “California Finance Lenders Law” until 2017, regulates finance lenders and brokers who make and broker consumer and commercial loans, including a…
Recent blogs have discussed state agencies and the process of rulemaking to implement legislation. Rulemaking itself may be a painstakingly cumbersome and time-consuming procedure. There are different stages of the…
On May 13, 2019, the California Senate unanimously passed SB 472, first-of-its-kind state legislation that would regulate on-demand pay. The bill recognizes that earned income access (EIA) is not credit and imposes…
Lawmakers defer the adoption of regulations to the appropriate state agency implementing the legislative program. The agency begins the adoption process by engaging in preliminary rulemaking activities. At this point,…
Lawmakers primarily formulate, sponsor, and enact legislation to meet the needs of voters. Any law should improve the health, safety, and welfare of all. When legislators create new laws or…
After the California Supreme Court refused in July to hear the appeal of Gov. Gavin Newsom’s administration, it is now clear that the State of California must use proceeds awarded…
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