Securities Investment Co. v. Finance Acceptance Corp.

COLEMAN, Justice.

This suit was filed by appellee, a licensee under the Texas Consumer Credit Code, against appellant, a company engaged in the business of loaning money to such consumer finance companies, to recover double the amount of alleged usurious interest paid by appellee to appellant. Appellant answered and filed a cross-action for the debt due to it by appellee and for foreclosure of its lien against appellee’s notes receivable. Appellee then amended its petition and, in addition to the cause of action based on usury, sought actual and exemplary damages by reason of the action of…