Legal Opinion
First Nat'l Bank of Comanche v. Johnston
Supreme Court of Oklahoma
Decided February 12, 1935No. 24302PublishedCited by 1 opinion
1Opinion of the CourtRiley, J.
Plaintiff in error contends that because it is a national bank the usury laws of the state of Oklahoma do not apply; section 9522, O. S. 1931, is an additional penalty for usury; that the federal statutes, section 5198, Rev. Stats. U. S., and particularly 12 USCA sec. 94, is controlling and paramount.
There is fallacy in this contention. The power is vested in Congress to fix the exclusive penalty against the national bank for charging or collecting usury. First Nat. Bk. of Wellston v. Green, 56 Okla. 698, 155 P. 502; Pauls Valley Nat. Bk. v Mitchell, 55 Okla. 170, 154 P. 1188; First Nat. Bk.…
2Cases cited16 opinions
- Claflin v. HousemanSupreme Court of the United States · 1876
- Houston v. MooreSupreme Court of the United States · 1820
- Farmers' & Mechanics' National Bank v. DearingSupreme Court of the United States · 1875
- Douglas v. New York, New Haven & Hartford RailroadSupreme Court of the United States · 1929
- Lewis v. Fidelity & Deposit Co. of Md.Supreme Court of the United States · 1934
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3Cited by1 opinion
- American Automobile Ins. v. AlbertDistrict Court, D. Minnesota · 1952