Equitable Credit & Discount Co. v. Geier

. Opinion by

Mr. Justice Stern,

Plaintiff is a Pennsylvania corporation engaged in the business of making loans in excess of $300, secured in each instance by an agreement in the form either of a bailment lease or conditional sale contract whereby it obtains a lien, on the borrower’s automobilé. It made a loan to defendant in the sum of $325, repayment to be in twelve monthly instalments of $32.08 each, aggregating $384.96; this amounted to a charge for interest and fees of about 35% per annum, which was more than twice as much as would have been permitted under the terms of the Consumer…