Usury and Financial Lender's Licenses - Avoiding Issues...

Bank lending is down and is often subject to strict guidelines, giving private lenders an opportunity to make working capital and bridge loans to businesses.  But such lenders often want to charge more than the legally allowed interest rate of 10% under California law, and may need California Financial Lender’s Licenses to make loans in California.

Program Title: 
Usury and Financial Lender’s Licenses - Avoiding Issues With Private Financing

Date:
Thursday, June 8, 2017


Presented By:

Commercial Law & Bankruptcy Section


Program Description:

Bank lending is down and is often subject to strict guidelines, giving private lenders an opportunity to make working capital and bridge loans to businesses.  But such lenders often want to charge more than the legally allowed interest rate of 10% under California law, and may need California Financial Lender’s Licenses to make loans in California. 

This panel will explore usury law as both a shield and sword for the borrower, and how private lenders can avoid the trap of usury through various statutory exemptions and licensing.  Did you know that a borrower can recover treble damages from a lender which charges usurious rates?  Do points, late charges and other fees count in determining interest rates?  Can lenders avoid usury by joint venture agreements? 

 In addition, if lenders want to be licensed, what does the process look like and how can the lenders’ counsel get those license applications quickly approved by the Department of Business Oversight?


Speakers:

Susan R. Goldfarb, Proskauer
Tom McCurnin, Barton, Klugman & Oetting


Location:
Los Angeles County Bar Association
1055 W. 7th Street, 27th Floor
Los Angeles. CA 90017


CLE Credit: 
1 hr. CLE credit


Parking:

Self-Parking available for $10 with validation.


Times

Registration/Lunch: 11:30 a.m.
Program: 12:00 - 1:00 p.m.
Additional Information: This program is appropriate for all levels.


Prices:

CLE+ Members

FREE

Commercial Law & Bankruptcy Section Members

$55.00

LACBA Members

$70.00

All Others

$105.00

Law Student

$30.00

 

*CLE+ Members can purchase the meal below for an additional $25.00

When
6/8/2017 12:00 PM - 1:00 PM
Where
LACBA Offices 1055 W. 7th Street Suite 2700 Los Angeles, CA 90017


LACBA members or registered users, please sign in for member rates and online registration.
Sign In

Please click here for User Name and Password help.


Not a LACBA member?  Please create an account to register online.
Create Account

If you would prefer to register by phone with Visa, MasterCard or AMEX, please call LACBA Member Services at 800.456.0416, between 9:00 AM and 5:00 PM PST, Monday – Friday, and our Member Services team will be happy to assist you.  

While advance registration (both online and via phone) closes for most programs approximately 12-24 hours before event time (in order to allow for operational considerations), we would still like to have you join us, and you are more than welcome to register on-site and attend, unless the program is specifically noted as SOLD OUT.

Please note that use of recording devices is not permitted at LACBA programs.