Opinion
S246541
11-14-2019
WISHNEV (SANFORD J.) v. THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
Opinion filed
We answer the Ninth Circuit's first question as follows. The provision in section 1916-2 prohibiting lenders from assessing compound interest “unless an agreement to that effect is clearly expressed in writing and signed by the party to be charged therewith” does not apply to lenders exempt under article XV.
Majority Opinion by Corrigan, J.
-- joined by Cantil-Sakauye, C. J., Chin, Liu, Cuéllar, Kruger, and Groban, JJ.