Feldman v. Kings Highway Savings Bank

— Action to recover twice the sum of $2,000, which sum of money was paid by plaintiff to defendant, a bank, the claim of the plaintiff being that the payment constituted interest in excess of 6% per annum on an indebtedness owing by him to the defendant. Such action is authorized by subdivision 1 of section 108 of the Banking Law. The admitted pleadings are as follows: The indebtedness, originally in the principal amount of $15,000, was evidenced by a bond and secured by a mortgage, both executed on March 11, 1949. The terms, so far as repayment and payment of interest were concerned, were…