Rouse v. Peoples Leasing Company

This class action suit alleges the open-end automobile leases plaintiffs and those similarly situated entered into with defendant Peoples Leasing Company (PLC) were usurious. The trial court granted the defendants' motion for summary judgment, denied the plaintiffs' motion for partial summary judgment on the issue of whether the leases were substantially loans, and simultaneously decertified the class. We find the open-end leases are essentially loans and reverse the summary judgment. We remand to the trial court for determination whether the "loans" are usurious and for reconsideration of…