Overbeck v. Sears, Roebuck and Co.

This case represents the latest, if not the last, consumer-oriented challenge to the legality of a revolving charge account under since-repealed general usury laws. Here plaintiff-appellant Karl Overbeck, individually and as the representative of the class of Indiana credit card customers of defendant-appellee Sears, Roebuck & Co. (Sears) during 1968 and 1969, seeks some $6,000,000 of allegedly usurious “interest” collected from the members of plaintiff class under the “Sears Revolving Charge Account.” The trial court, adhering to the logic which compelled our brethren of the First District…