The CMA previously updated its members on the negative impact of the California Court of Appeals decision in the Honchariw case. In that decision, the Court of Appeals held that a lender could not charge default interest on...

New State Laws That May Affect DFPI Licensees Highlights of 2022 Chaptered Legislation, a compendium of new state laws that may affect or be of interest to DFPI licensees, is now available on the Department’s website. The...

The California Court of Appeals recently published an opinion holding prohibiting charging default interest on the entire unpaid principal balance following a monthly payment default. As you all know, default interest is...

Broker-Dealer/Investment Adviser Renewals Due Dec. 12 A reminder that 2023 registration renewal statements and fees for the Broker Dealer/Investment Adviser (BDIA) program are due by Dec. 12, 2022. All registered firms may view...

From the Desk of the CMA’s General Counsel, Robert Finlay: Default interest is a hot button for borrowers, lenders and the courts. Most courts inherently do not like default interest because they see it as an improper...