Sweeney v. Citicorp Person-To-Person Financial Center, Inc.

PRESIDING JUSTICE QUINLAN

delivered the opinion of the court:

Plaintiff, Michael B. Sweeney, filed the present action in the circuit court of Cook County on October 30, 1985, individually, and on behalf of a class of all those similarly situated, against Citicorp Person-to-Person Financial Center, Inc. (Citicorp Financial), and Citicorp Person-to-Person Financial Center of Illinois, Inc. (Citicorp Illinois). The plaintiff alleged that the defendants had violated the Illinois usury statute by contracting for interest payments in excess of the statutory limit through a scheme of loan splitting.…