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- US District Court Holds Individual Guarantors Liable for Business Loan; Rejects Usury Challenge
- New York Court Recharacterizes Merchant Agreement as Loan, Vacates Confessed Judgment and Voids Transaction
- Increased Value of Pledged Stock Not Interest
- U.S. District Court Holds that Purchase of Future Settlement Proceeds Violates Kansas Usury Law
- Citing Madden v. Midland Funding, Colorado Regulator Challenges Bank Partnership Model
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The information and materials on this blog are provided for general informational purposes only and are not intended to be legal advice. The law changes frequently and varies from jurisdiction to jurisdiction. Being general in nature, the information and materials provided may not apply to any specific factual and/or legal set of circumstances. No attorney-client relationship is formed nor should any such relationship be implied. Nothing on this blog is intended to substitute for the advice of an attorney, especially an attorney licensed in your jurisdiction. If you require legal advice, please consult with a competent attorney licensed to practice in your jurisdiction.
Monthly Archives: January 2016
Iowa Supreme Court Finds NSF Charges Are Not Usurious Under Iowa Consumer Credit Code
A putative class action was filed against a state-chartered Iowa bank. The plaintiffs alleged that the bank had charged them nonsufficient fund (NSF) fees when the plaintiffs used their checking cards to create overdrafts in their checking accounts which the bank … Continue reading
Posted in Civil Usury, Iowa, Usury Cap
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Court Refuses to Apply Federal Preemption to Loan Servicer Despite Bank’s Continued Interest in Loan
In November 2014, the Pennsylvania Office of Attorney General (“OAG”) filed a complaint against a number of companies that did business with a group of payday lenders. The payday lenders were a Delaware bank and three tribal entities. The defendants provided marketing services … Continue reading
Posted in Attorney General, Civil Usury, Depository Institution Deregulation and Monetary Control Act, Federal Court, Pennsylvania
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Court Converts State Usury Action Against National Bank Into Federal Claim, Action Still Fails
A pro se plaintiff filed a usury action against Wells Fargo in Maryland state court. Wells Fargo removed the case to federal district court and filed a motion to dismiss. It argued that the plaintiff’s state law usury claim was completely preempted … Continue reading
Posted in Federal Court, Maryland, National Bank Act
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When it Comes to Usury Law, Be Careful What You Ask For
In a previous post, Creditor Fails to Navigate Usury Law “Minefield”, Ordered to Refund $1.3 Million to Debtor, I discussed a recent bankruptcy case in California. In the case, a lender had filed a claim in the borrower-debtor’s bankruptcy case. The … Continue reading
Posted in Bankruptcy, California, Choice-of-Law, Federal Court, Statute of Limitations, Usury Exceptions
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