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Home » Store » News » State Court not Proper Venue for Usury Claims Against U.S. Banks

State Court not Proper Venue for Usury Claims Against U.S. Banks

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Federal courts are the proper venue for lawsuits against national banks alleging violations of usury laws, even though the complaint is brought solely under state law, according to the Supreme Court of the United States. The June 2 decision, industry lawyers said, represents another blow to state regulation and “another in a long string of cases upholding federal preemption as dictated by Congress.
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