Topic
Usury
137 published works
Financial Services Perspectives
Supreme Court Declines to Review Second Circuit Decision Subjecting Defaulted Debt Buyers to State Usury Laws
By R. Aaron Chastain, Michael R. Pennington
On June 27, the United States Supreme Court declined to review the Second Circuit’s decision in Madden v. Midland Funding, LLC, 786 F.3d 246 (2d Cir. 2015). By denying Midland…
North Carolina Business Litigation Report
NC Attorney General Reaches $9 Million Settlement With “American Indian Business” Western Sky Over Usurious Loans
You will remember the North Carolina Attorney General's lawsuit against Western Sky Fin'l, LLC. It generated an opinion from the Business Court last year in which Judge McGuire enjoined the…
Consumer Financial Services Review
Madden Update: Solicitor General Says the Second Circuit Got it Wrong—But that the Decision Should Still Stand for Now
By David L. Beam, Steven M. Kaplan, Andrea Pincus
The controversial decision in Madden v. Midland Funding, LLC, was “incorrect” and “reflects an unduly crabbed conception of [National Bank Act] preemption,” said the Solicitor General and the Office of…
Consumer Finance Monitor
Vermont federal district court rules CFPA does not provide private right of action for alleged usurious loans; denies motion to dismiss EFTA claim
A Vermont federal district court recently issued a decision ruling on the defendants' motion to dismiss a class action involving allegations that an online tribal lending venture violated federal and…
Legal Profession Blog
Voluntary Discipline Petition Rejected For Usury Crimes
The Georgia Supreme Court rejected a petition for voluntary discipline of a one-year suspension for an attorney convicted of violat ing New York usury laws. In her petition, Temple, who became…
North Carolina Business Litigation Report
Business Court Enjoins Enforcement Of High Interest Rate Loans Made By American Indian-Related Business
Judge McGuire's opinion last week in Western Sky in State v. Western Sky Financial, LLC, 2015 NCBC 84 has a little bit of everything in it: choice of law, the…
FinTech Update
Peer-to-Peer Lenders May Need to Follow State-by-State Usury Laws
A recent court ruling suggests that FinTech lenders may need to follow state usury laws, depending on their business model. On August 12, 2015, the U.S. Court of Appeals for…
Legal Profession Blog
Usury Unfriendly
An Illinois attorney who operated a consumer lending business is the subject of a bar complaint alleging that he charged criminally usurious loans to his customers.Between March 2011 and October…
ContractsProf Blog
Thanksgiving Feast: Meredith Miller Top Ten List
This is a rather unconventional list. I have just gone back into our archives and picked out one my favorite Meredith posts from each of the ten years since she…
Delaware Corporate & Commercial Litigation Blog
Delaware Usury Rate and Post-Judgment Interest Rate Examined
Sequoia Presidential Yacht Group LLC v. FE Partners, LLC, C.A. No. 8270-VCG (Del. Ch. June 12, 2014). Issue Addressed: This letter ruling provides a useful review of the Delaware Usury…