Bohlinger v. American Credit Co.

OPINION

FRANKS, Judge.

The day following the Supreme Court’s initial decision in Cumberland Capital Corp. v. Patty, 556 S.W.2d 516 (Tenn.1977), plaintiffs filed this suit alleging that defendants “consistently charge interest at a common rate and by a common method authorized by the Industrial Loan and Thrift Companies Act. The method so prescribed was held unconstitutional by the Supreme Court. . . . ” Plaintiffs sought certification as a class action as to plaintiffs and defendants, the issuance of a restraining order, the recovery of interest paid in excess of 10 per cent per annum, and an…