State v. Household Finance Corp. of San Antonio

GRAY, Justice.

The State of Texas, by its Attorney General acting under Art. 4646b, Vernon’s Ann.Civ.St., brought this suit against Household Finance Corporation of America seeking a permanent injunction restraining the corporation from collecting, contracting for or attempting to collect usurious interest from borrowers.

At a non jury trial a judgment was rendered denying any relief to the State and it has appealed.

At the trial the parties stipulated that appellee is a corporation authorized to do business in Texas; that it is engaged in the business of habitually loaning money and stipulated…