Reeves v. First State Bank

McINERNEY, Presiding Judge.

This is an appeal challenging the sufficiency of the amount forfeited as usury under a contract for the loan of money.

First State Bank of Jones, Oklahoma sought to recover a balance due on a note after default of a monthly payment, and to foreclose the security interest. The trial court held that the note was usurious. Judgment was entered by direction to the jury in favor of the Bank for the unpaid balance of the face of the note, less twice the amount of interest charged for the loan. Possession of the security was given to Bank, and Reeves appeals.

Bank loaned…