Gerald J. Lindenberg v. First Federal Savings and Loan

This is as an appeal from the district court’s grant of partial summary judgment, 528 F.Supp. 440, against plaintiff as to counts two, three, four and a portion of count five of plaintiff-appellant’s complaint. Plaintiffs are challenging the lending practices of federally chartered savings and loans associations under both Georgia and federal law. Under Georgia law, the usury limitation in effect at the time a loan is made remains applicable throughout the life of the loan. Ga.Code Ann. § 57-106 (1977). Therefore, the usury rate could not be escalated at the time of assumption of the loan by…