California is known for thinking outside of the box and being ahead of the curve in many ways, and that includes the regulation of non-traditional lenders. The California Financing Law (CFL) is remarkably and surprisingly broad in scope, potentially regulating virtually any party making loans that is not otherwise licensed as a lender. It covers a wide range of loans in large and small amounts, from multimillion dollar strategic loans, to small dollar loans among family members, to loans among affiliated companies, among other categories.This program, taught by Teresa Johnson and Catrine Brown from Arnold & Porter, will delve into the CFL and its regulation of consumer and commercial loans. The course will describe the exemptions, the application process, reporting requirements and regulations. It will also discuss potential pitfalls under the CFL. Finally, the program will also address recent developments, including the Commercial Financing Disclosure law enacted in September 2018, which requires “truth in lending” disclosures to small-scale commercial loans.
Teresa Johnson advises clients on corporate and finance matters and coordinates the firm's resources in leading the representation of various key clients. Her practice focuses on acting for lenders and borrowers in commercial credit and finance transactions, project-based finance, asset-based lending, syndicated financings, cross-border transactions, and debt securities. Ms. Johnson has particular experience in consumer lending and she frequently represents peer-to-peer and other non-traditional lenders. Her experience includes advising directors and officers of public and private companies in various corporate governance matters.
Ms. Johnson has been recognized by the Daily Journal as one of the top 25 corporate transaction attorneys on the publication's annual list of the "Top 100 Women Lawyers."
Ms. Johnson practiced in London for several years before returning to the United States. Ms. Johnson was a member of the Stanford Law Review.
Catrine Galler Brown's practice encompasses a range of corporate matters, including debt, securities and M&A. She often represents borrowers and lenders in secured and unsecured credit financing transactions and venture debt transactions, including working capital lines and acquisition financings.
While in law school, Ms. Brown served as a member of the Journal of International Law and Foreign Affairs and as a mentor for the Law Fellows Program.
Ms. Brown is proficient in French and Norwegian.