Farmers' Bank v. . Hale

The question is whether, since the decision of this court that national banks in this State were subject to the usury laws of the State, and that the provisions of the national bank act, limiting forfeitures for taking usury, applied only to banks located in States and territories where no usury law existed, the act of the legislature, chapter 163, Laws of 1870, is operative to limit the forfeiture for taking usury by the State banks organized under the general banking law of this State to the interest only. It is claimed that this act in effect has repealed the usury laws of the State as to…