Topic
Usury
137 published works
Commercial Case Notes
Decision of Whether Contract is Void as Usurious Was For Arbitrator, Not Court
By John Lundin
On August 2, 2024, Justice Cohen of the New York County Commercial Division issued a decision in Vaidya v. Itria Ventures LLC, 2024 NY Slip Op. 32709(U), holding that the…
Consumer Financial Services Law Monitor
Class Action Alleging Usurious Fees and Tips Filed Against FinTech Provider of Earned Wage Access Services
By Taylor Gess, Carlin McCrory, Caleb Rosenberg, Jeremy Rosenblum
A proposed class action lawsuit has been filed in the U.S. District Court for the Northern District of California against EarnIn, a FinTech provider of Earned Wage Access services, alleging…
Consumer Finance Monitor
Plaintiffs oppose Colorado’s motion for a stay of the preliminary injunction in the Colorado opt-out litigation
By Alan S. Kaplinsky, Burt M. Rublin, Mindy Harris, Joseph J. Schuster, Ronald K. Vaske
Very soon, briefing by the parties in the 10th Circuit will commence with respect to Colorado’s appeal of a preliminary injunction entered by the Federal District Court for the District…
Commercial Case Notes
Note With Criminally Usurious Interest Rate is Void
By John Lundin
On July 25, 2024, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Citilink Motors, LLC v. Joel K. Holding Co, LLC, 2024 NY Slip Op. 32560(U),…
Commercial Case Notes
Plaintiff Adequately Alleged That Merchant Cash Advance Agreement Was an Usurious Loan
By John Lundin
On July 26, 2024, the Fourth Department issued a decision in Oakshire Props., LLC v. Argus Capital Funding, LLC, 2024 NY Slip Op. 03943, holding that a plaintiff has adequately…
Commercial Case Notes
Merchant Cash Advance Agreement Not a Loan, and Thus Not Subject to Usury Laws
By John Lundin
On July 16, 2024, Justice Ruchelsman of the Kings County Commercial Division issued a decision in RDM Capital Funding v. Stellar Beach Rentals LLC, 2024 NY Slip Op. 32482(U), holding…
Consumer Finance Monitor
Colorado seeks stays of District Court proceedings and preliminary injunction
By Alan S. Kaplinsky, Burt M. Rublin, Mindy Harris, Ronald K. Vaske
We previously reported that, on July 18, the Colorado Attorney General and UCCC Administrator appealed to the 10th Circuit Court of Appeals challenging Judge Domenico’s order dated June 18 D.…
Commercial Case Notes
Side Letter Granting Lender Part Ownership of the Borrower Did Not Make the Related Loan Usurious
By John Lundin
On June 17, 2024, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Manna Capital Solutions LLC v. W & D Consultants Corp., 2024 NY Slip Op.…
Consumer Finance and Fintech Blog
Ninth Circuit Holds Loan Modification Made By Unlicensed Lender Violates State Usury Law
By A.J. Dhaliwal, Mehul Madia, Sherwin Root
In an April 16 unpublished opinion, the U.S. Ninth Circuit Court of Appeals affirmed the Bankruptcy Appellate Panel’s earlier decision finding that a mortgage lender not licensed in California violated…
California Corporate & Securities Law Blog
Judge Rules That A Front For Mexican Cartel Had The Capacity To Protect Its Own Interests
California Corporations Code Section 25118(b) provides an exemption from the state's usury limitations for loans. The exemption is subject to several conditions. One condition is the existence of either a…