Marshall v. Fulton National Bank

McMurray, Judge.

Plaintiff executed a note payable to defendant, a national banking association organized and existing pursuant to the National Bank Act (12 USCA § 21 et seq.). The note was for $1,600 as proceeds of the loan, $31.92 in credit life insurance, plus finance charge of $290.72 ($260.72 interest and loan fee of $30). It was to be paid in 24 monthly installments of $80.11. The finance charge under the note was computed under the rates provided in the Georgia Industrial Loan Act (Ga. L. 1955, pp. 431, 432, Code Ann. Ch. 25-3).

By reason of plaintiffs default, defendant accelerated the…