Eyde v. Empire of America Federal Savings Bank

MEMORANDUM OPINION AND ORDER

ZATKOFF, District Judge.

This cause of action arises out of a dispute between the parties concerning prepayment premiums assessed against the Plaintiffs by the Defendants, for the prepayment of two promissory notes. Plaintiffs paid the premiums under protest and are now moving for Summary Judgment on their claim they are entitled to a refund.

I. FACTS

On October 9, 1973, Plaintiffs Patrick Eyde, Mary Ann Eyde and Michael G. Eyde borrowed Two Million Two Hundred Fifty Thousand Dollars ($2,250,000) from Metropolitan Savings Association (“Metropolitan”). In return,…