Category Archives: Massachusetts

Massachusetts State Court Rejects Choice of Law Clause, Vacates Confessed Judgment

A business located in Massachusetts received financing from a small business funder. The parties’ agreement stated that in exchange for the financing provided, the funder would receive 15% of the business’ daily receipts which the funder would take by debiting $1,549 … Continue reading

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Despite Violation of Usury Statute, Lender Still Entitled to Full Contractual Interest Rate

A recent federal appellate decision highlights the discretion often afforded judges when deciding usury cases. The case involved a Massachusetts state court judgment that a lender had obtained against the guarantor of multiple business loans. When the guarantor failed to … Continue reading

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Multiple State Regulators Challenging Lender’s Use of Choice of Law Clause in Usury Enforcement Actions

A growing number of state regulators are challenging the use of choice of law provisions as a method of usury law compliance. On August 27, 2015, the Attorney General of North Carolina was granted an injunction against Western Sky Financial … Continue reading

Posted in Attorney General, Choice-of-Law, Civil Usury, Criminal Usury, D.C., Massachusetts, North Carolina, Tribal Immunity | Comments Off on Multiple State Regulators Challenging Lender’s Use of Choice of Law Clause in Usury Enforcement Actions

Ongoing Notice of Potentially Usurious Transactions Not Required in Massachusetts

BayNorth Realty Fund VI, L.P. v. Wickline, 87 Mass. App. Ct. 1109 (Mass. App. Ct. 2015) The defendant appealed the trial court’s ruling granting of partial summary judgment for the plaintiff.  The defendant claimed that the prepayment provision of the … Continue reading

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