On February 1, 2024, a New York trial court held that the amount of a loan, and not the amount actually advanced to the borrower, is the relevant measurement to determine if New York’s criminal usury statute applies....more
On September 20, 2022, the U.S. District Court for the Southern District of New York dismissed affirmative claims based on allegations of usury. In May 2021, the plaintiffs and the defendant entered into a funding agreement...more
On June 6, 2022, the U.S. District Court for the Southern District of New York found that a contractual New York choice-of-law provision precluded a borrower-plaintiff from obtaining summary judgment on a usury claim brought...more