Union Story Trust & Savings Bank v. Sayer

CARTER, Justice.

Plaintiff and three defendants appeal from judgments entered following jury trial of an action by plaintiff Union Story Trust and Savings Bank (the bank) to recover from defendants James Granzow, Bob Granzow and Paul Cooley (defendants) on a loan guaranty agreement, and a counterclaim by these defendants seeking (a) damages from the bank for claimed breach of its obligation to monitor distribution of construction loan funds, and (b) statutory penalties and attorney fees for alleged breach of the Iowa Consumer Credit Code in obtaining the loan guaranty agreements upon which its…