California Federal Savings & Loan Ass'n v. Superior Court

Opinion

HASTINGS, J.—

This is a class action lawsuit against California Federal Savings and Loan Association (Cal Fed) in which the plaintiffs contend, among other things, that Cal Fed’s method of computing the “interest rate adjustment” on variable interest rate loans is designed to yield consistent interest rate increases, but almost never a decrease. The issue in this original proceeding is whether Cal Fed’s peremptory challenge (Code Civ. Proc., § 170.6) of the Honorable Norman Dowds was timely filed. We hold that it was not.

This action was filed in September 1984. In late 1985, Cal Fed…