Category Archives: California Supreme Court Updates

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California Supreme Court Rules That Loans Not Subject To Usury Cap May Still Be Unconscionable

The California Supreme Court ruled on Monday, August 18, that an interest rate on a consumer loan in California could be deemed illegally high even if the loan is not subject to the state’s usury law. Consumer loans of $2,500 or more in California that are made by licensed California Finance Lenders are not subject to … Continue Reading

Lenders Beware – Oral Statements may Trump Written Agreements

By Kristy Young The California Supreme Court recently held that a borrower may rely upon oral promises to support a fraud claim against its lender even when such oral promises contradict the written agreement. In Riverisland Cold Storage, Inc. v. Fresno-Madera Production Credit Association, 55 Cal. 4th 1169 (2013), borrowers, after falling behind on their … Continue Reading
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