Michigan National Bank v. Robertson

Respondents in these two cases purchased house trailers in Nebraska, executing and delivering notes and lien *592instruments to the local dealer who in turn negotiated them to the petitioner, a national bank located in Michigan. Respondents have now sued petitioner, alleging violations of the Nebraska Installment Loan Act and challenging the validity of the transactions and of the documents executed in connection therewith.1 Petitioner claimed that it could not be sued in Nebraska because of 12 U. S. C. § 942 and that 12 U. S. C. § 86, the federal usury provision,3 applied to the exclusion of the…