• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

COMMERCIAL LENDER REGULATION & USURY

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

F

FITZ1

Guest
Help!

I was just given this assignment and can't find the answer.

Background: California construction firm bid on Fed Government contracts. Performance bonds were required, so company obtained loans to pay for bonds from Tennessee and Georgia lenders who were private financing companies and trust companies. Dispute exists between lender and borrower over amount owed on loans.

Question: What federal / state regulatory agencies oversee these types of transactions? What licenses or certifications are required for the lenders / loan brokers? What usury laws apply to the loans?

Thank you so much. Cali, TN and Ga state department of financial institutions agencies have indicated that private commercial transactions like these are unregulated and unlicensed. There must be something?

 



Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top