Monthly Archives: August 2015

Debtor Permitted to Pursue Injunction Against Creditor Even After Creditor Ceases Collection Efforts

Debt collection is tricky business. While a creditor would love to be able to recover on their outstanding accounts, they have no desire to incur additional losses. So its understandable that when a creditor encounters a potentially litigious debtor the creditor may, in certain … Continue reading

Posted in Civil Usury, Federal Court, Louisiana, Sword vs. Shield | Comments Off on Debtor Permitted to Pursue Injunction Against Creditor Even After Creditor Ceases Collection Efforts

New York Choice-of-Law Statute Helps Creditor Overcome Usury Defense

An alternative litigation financing company provided a California law firm with a $6 million dollar line of credit. When the law firm failed to pay, the finance company filed suit for breach of contract. The contract provided that the parties’ agreement would … Continue reading

Posted in Choice-of-Law, New York, State Court | Comments Off on New York Choice-of-Law Statute Helps Creditor Overcome Usury Defense

Madden v. Midland Funding, LLC: What Does it Mean for Alternative Small Business Lending?

Here’s a link to an article I wrote for deBanked’s July/August magazine issue.

Posted in Civil Usury, Federal Court, New York, Newsury | Comments Off on Madden v. Midland Funding, LLC: What Does it Mean for Alternative Small Business Lending?

Ignoring Cease and Desist Letters – Just Don’t Do It

Usury law is complex. It is an area of law heavily burdened with obscure exceptions and antiquated nuances. Yet, one point is clear. Do Not Ignore Cease and Desist Letters No matter how clear the case law, sophisticated the compliance … Continue reading

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BofA Class Action Update – Extended Overdraft Charge Not Interest

The District Court granted BofA’s motion to dismiss. The Court found that the extended overdraft fee charged by the bank was not “interest” under the National Bank Act. In its decision, the Court noted that while no binding authority had … Continue reading

Posted in Civil Usury, Federal Court, Florida, States | Comments Off on BofA Class Action Update – Extended Overdraft Charge Not Interest

Florida Court of Appeals Finds Usury Does Not Violate Public Policy, Denies Temporary Injunction

The Florida Office of the Attorney General was granted a temporary injunction against CashCall, Inc. The Attorney General’s action was based on alleged violations by CashCall of Florida’s Deceptive and Unfair Trade Practices Act. The complaint alleged that CashCall charged … Continue reading

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