Standard Oil Company (Indiana) v. Williams

The plaintiff-appellee (Williams) is the holder of a credit card issued by the defendant-appellant (Standard). Williams filed a class action for recovery of certain monies paid to Standard, premised upon the theory that they constituted usury. In granting Williams’ motion for partial summary judgment, the trial court held, inter alia: “That the plaintiff and his class are entitled to recoup and recover the usurious interest charged by the defendants. . . .” This appeal ensues, with the threshold issue being whether the 1%% “Finance Charge” paid to Standard is usurious as defined by Indiana…