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Full-Text Articles in Law
American Usury Law And The Military Lending Act, Paul Kantwill, Christopher L. Peterson
American Usury Law And The Military Lending Act, Paul Kantwill, Christopher L. Peterson
Utah Law Faculty Scholarship
In 2006 Congress adopted the Military Lending Act (“MLA”) to protect active duty military service members and their families from high-cost, predatory loans. The core provision of the statute is a usury limit capping interest rates at no more than 36 percent per annum. The United States Department of Defense finalized regulations implementing the MLA in 2007 and then later issued substantially revised regulations in 2015. The MLA is America’s first modern, national usury law that is applicable to all types of creditors and was adopted after the evolution of our national credit card market. After over a decade, the …
Credit Is A Double Edge Sword, Mehrsa Baradaran
Credit Is A Double Edge Sword, Mehrsa Baradaran
Popular Media
This commentary, which appeared in the Atlantic on April 26, 2016 discusses the Marquette decision by the Supreme Court and how it de-stigmatized the practice of usury.
Usury And Loan Transfers, Roger Bernhardt, Alex Volkov
Usury And Loan Transfers, Roger Bernhardt, Alex Volkov
Publications
This Article is primarily concerned with the effect of transferring a mortgage loan from its originating loan broker to a group of small investors when that loan was at its inception usurious. However, because the rules applicable to that situation are not confined to mortgage law, we begin with a general explanation of usury rules before dealing with the particular real estate loan transaction mentioned.
Optimizing Consumer Credit Markets And Bankruptcy Policy, Ronald J. Mann
Optimizing Consumer Credit Markets And Bankruptcy Policy, Ronald J. Mann
Faculty Scholarship
This Article explores the relationship between consumer credit markets and bankruptcy policy. In general, I argue that the causative relationships running between borrowing and bankruptcy compel a new strategy for policing the conduct of lenders and borrowers in modern consumer credit markets. The strategy must be sensitive to the role of the credit card in lending markets and must recognize that both issuers and cardholders are well placed to respond to the increased levels of spending and indebtedness. In the latter parts of the Article, I recommend mandatory minimum payment requirements, a tax on distressed credit card debt, and the …
9th Annual Seminar On Legal Issues For Financial Institutions, Office Of Continuing Legal Education At The University Of Kentucky College Of Law, Joseph M. Scott Jr., M. Brooks Senn, John T. Mcgarvey, David C. Pottinger, Dorothy M. Pitt, James E. Sniegocki, Cynthia W. Young, John C. Deal, Scott W. Brinkman, David W. Harper, R. James Strauss, William L. Montague, John J. Holzknecht
9th Annual Seminar On Legal Issues For Financial Institutions, Office Of Continuing Legal Education At The University Of Kentucky College Of Law, Joseph M. Scott Jr., M. Brooks Senn, John T. Mcgarvey, David C. Pottinger, Dorothy M. Pitt, James E. Sniegocki, Cynthia W. Young, John C. Deal, Scott W. Brinkman, David W. Harper, R. James Strauss, William L. Montague, John J. Holzknecht
Continuing Legal Education Materials
Outline of speakers' presentations from the 9th Annual Seminar on Legal Issues for Financial Institutions held by UK/CLE on March 10-11, 1989.
Klett V. Security Acceptance Co. [Dissent], Jesse W. Carter
Klett V. Security Acceptance Co. [Dissent], Jesse W. Carter
Jesse Carter Opinions
Discount sales offered to a finance company as part of the security given by a businessman for a loan were not part of a usurious scheme because the transaction was made at the businessman's request.