Posts from March 21st, 2022
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March
21
21
Marketplace Lender's Lawsuit Against California DFPI Challenges "True Lender" Recharacterization
Marketplace lender Opportunity Financial, LLC ("OppFi") has gone on the offensive against the California Department of Financial Protection and Innovation ("DFPI") to protect its bank partnership program against challenge on a "true lender" theory. On March 7, 2022, OppFi filed suit against the DFPI to ask the state court to declare that FinWise Bank, a Utah-chartered bank, is the true lender of loans facilitated through OppFi's online platform and funded by the bank.
The suit arises in response to the DFPI's threat of an enforcement action against OppFi on the basis that OppFi is the true lender of program loans instead of OppFi's partnering bank. A successful true lender challenge by the...
March
21
21
HOW TO FREEZE CALIFORNIA AVOCADOS
March
21
21
California REALTORS® urge Gov. Newsom to focus on homeownership after omitting in State of the State address
March 8, 2022
California REALTORS® urge Gov. Newsom to focus on homeownership after omitting in State of the State address
LOS ANGELES (March 8) – CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) President Otto Catrina today issued the following statement after Gov. Gavin Newsom's State of the State address:
"The State of the State will not improve until California acts to dramatically increase the supply of ownership housing to provide working Californians the stability and prosperity that homeownership provides.
"Working Californians today are excluded from the benefits of homeownership that middle-class Californians once took for granted. California's overall homeownership rate has declined to j...