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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

Delaware’s No-Usury-Cap Rule Deemed Unenforceable as Contrary to New York Public Policy in FDCPA Class Action
  • K&L Gates
  • USA
  • April 3 2017

The Southern District of New York recently refused to enforce Delaware’s no-usury-cap rule in a long-running Fair Debt Collection Practices Act

New York Case Is a Win for the Merchant Cash Advance Industry
  • Pepper Hamilton LLP
  • USA
  • March 31 2017

Providers of cash advances repaid by sales of future receivables in New York can have greater confidence that these advances are not loans and are not