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Beware Of Usury Laws When Receiving A Loan As A Business
  • Vandeventer Black LLP
  • USA
  • August 10 2018

"'Usury' is generally defined as a premium or compensation paid or stipulated to be paid for the use of money borrowed at a greater rate of interest


NYDFS recommends online lenders be subject to state licensure and usury limits in new report
  • Buckley Sandler LLP
  • USA
  • July 13 2018

On July 11, the New York Department of Financial Services (NYDFS or the Department) released a study of online lending in New York, as required by AB


Florida District Court of Appeal holds contract for used car not covered by state usury law
  • Buckley Sandler LLP
  • USA
  • May 4 2018

On April 25, a Florida District Court of Appeal held that a Florida usury law did not apply to the purchase of a used car because the contract for


Marketplace Lending Update 2: Another Rocky Mountain Remand
  • Cadwalader Wickersham & Taft LLP
  • USA
  • March 29 2018

In our prior Clients & Friends Memo “Who’s My Lender?” published on March 14, 2018, we analyzed two actions brought against marketplace lenders, one


The Court of Cassation on the relevance of “supervening usury” during the contractual relationship
  • Nctm Studio Legale
  • Italy
  • February 22 2018

The Joined Chambers of the Court of Cassation, in their judgement of 19 october 2017, take position on the relevance of "supervening usury" after the


On Cloaking Devices And Usury: Lender Can Be Sued If It Uses Corporate Shell To Cloak A Personal Loan As A Business Loan
  • Porzio Bromberg & Newman PC
  • USA
  • January 26 2018

Cloaking devices are common in sci-fi movies like Star Trek and Star Wars. They are used to render an object, usually a spaceship, invisible to nearly


New York Supreme Court Dismisses Defendant’s Usury Defense for Merchant Agreement
  • Riker Danzig Scherer Hyland & Perretti LLP
  • USA
  • November 30 2017

The Supreme Court of New York, Westchester County, recently granted a plaintiff’s motion to dismiss defendant’s affirmative defenses and counterclaims


Decision of Joint Chambers of the Italian Court of Cassation Put an End to “Supervened Usury”
  • Paul Hastings LLP
  • Italy
  • November 2 2017

The Italian Corte di Cassazione a Sezioni Unite (Joint Chambers of the Court of Cassation), with decision N. 24675 of 19 October 2017 has provided


Legislation Introduced to Codify “Valid-When-Made” Doctrine
  • Buckley Sandler LLP
  • USA
  • July 25 2017

On July 19, Representative Patrick McHenry (R-N.C.), the Vice Chairman of the House Financial Services Committee, and Representative Gregory Meeks


Missouri Court Finds that Overdraft Fees are Money Well Spent
  • Baker Sterchi Cowden & Rice LLC
  • USA
  • May 17 2017

Last month the Court of Appeals for the Western District of Missouri held that a Missouri Bank’s overdraft fee charged as part of its overdraft