State v. Community Finance & Thrift Corporation

GRAY, Justice.

The State of Texas, through the Attorney General acting under Art. 4646b, Vernon’s Ann.Civ.St., brought this suit against Community Finance and Thrift Corporation and alleged that the defendant corporation was engaged in the business of habitually loaning money and charging usurious interest therefor. A permanent injunction restraining the defendant corporation from collecting, contracting for or attempting to collect usurious interest was prayed for.

A nonjury trial was had, a judgment was rendered denying any relief to the State and it has appealed.

At the trial the parties…