Legal Opinion
Gavey Properties/762 v. First Financial Savings & Loan Association
Court of Appeals for the First Circuit
Decided May 10, 1988No. 87-1111PublishedCited by 20 opinions
1Opinion of the Court
EDITH H. JONES, Circuit Judge:
Appellant, Gavey Properties/762 (“Ga-vey”), seeks reversal of the summary judgment denying relief on its claim of usury against Appellee, First Financial Savings & Loan Association (“First Financial”). 1 The district court, interpreting 12 U.S.C. § 1730g(a), held that the loan was governed by Illinois law, which does not impose a commercial loan usury limit. We affirm the district court’s construction of the “most-favored lender” provision of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA).
BACKGROUND
Gavey, located in Texas,…
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- FirstSouth, F.A. v. Lawson Square, Inc. (In Re Lawson Square, Inc.)Court of Appeals for the First Circuit · 1987
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