california

The 2021 increase to California’s homestead exemption to up to $600,000 stands to change the legal and economic relationship of guarantors with their lenders and vendors who make loans or sell goods or services on credit. Before examining this important change in California’s homestead exemption and its effect on guaranties, some perspective is needed on guaranties themselves.

The companies pledged to share data with regulators, abide by certain restrictions on pricing and submit to regular examinations. But the voluntary pacts stop short of placing restrictions on existing revenue models.

The state agency alleged potential violations of “unlawful, unfair, deceptive or abusive” practices by a dozen companies.

In 25 years at the helm, Brian Hall helped the Southern California credit union grow from $48 million of assets to nearly $600 million.

Kathie Kasper spent 24 years at the Livermore, Calif.-based institution, having started as a teller in 1976 and ultimately rising to the level of chief executive.