Citizens' Nat. Bank of Kansas City v. Donnell
Citations
- 195 U.S. 369
- 25 S. Ct. 49
- 49 L. Ed. 238
- 1904 U.S. LEXIS 726
Syllabus
<p>Under §§ 5197, 5198, U. S. Rev. Stat., a national bank which compounds interest in a manner prohibited by the State .forfeits all interest even thoiigh the total interest amounts to less than the maximum rate permitted by the State.</p> <p>A national bank, met in an action by the plea of usury, may not avoid the forfeiture of all interest by then declaring an election to remit the excessive interest.</p>
How courts have described this case
Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.
- dismissing bank’s argument that 12% charge on overdrafts did not violate state law setting 8% ceiling on interest rates because, inter alia, the overdraft charge \was a penalty because of a failure to pay a debt when due\
- NBA follows state law and prohibits compounding of interest where that is prohibited by the state in which the bank is located
- charges for failure to pay a promissory note when due
- closing costs charged on real estate loans
Source: CourtListener parenthetical corpus (CC0).
Judges: Holmes
Read full opinion on CourtListenerSourced from CourtListener / Free Law Project (CC0).
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