Problems Encountered Under State Usury Laws Usury Laws, Hearings Before the Subcommittee on Financial Institutions of ..., 93-2 on S. 3817 ..., July 31, 1974, Volumes 22-23 |
From inside the book
Results 1-5 of 40
Page 7
... constitutional amendment . As we all know , a 10 - percent rate of interest today in terms of corporate borrowing is clearly well below prevailing rates . We have a prime rate today which is at 12 percent and has been at that level for ...
... constitutional amendment . As we all know , a 10 - percent rate of interest today in terms of corporate borrowing is clearly well below prevailing rates . We have a prime rate today which is at 12 percent and has been at that level for ...
Page 8
... constitutional problem which may require con- siderable time to resolve . In view of this and given the urgency of the problems developing in the credit markets currently , the Board sup- ports the emergency measure you proposed by S ...
... constitutional problem which may require con- siderable time to resolve . In view of this and given the urgency of the problems developing in the credit markets currently , the Board sup- ports the emergency measure you proposed by S ...
Page 11
... constitutional ceiling of 19 percent . We're going to run into really sizable economic problems if we don't get some change in the situation we presently have . I may have some disagreemnt with the Federal policy that has gotten us to ...
... constitutional ceiling of 19 percent . We're going to run into really sizable economic problems if we don't get some change in the situation we presently have . I may have some disagreemnt with the Federal policy that has gotten us to ...
Page 13
... constitutional provisions for lending to undertake a Constitutional amendment . Senator BROCK . We discussed as much as 5 years . I think the States have an opportunity for change . Mr. SMITH . I think it would be a mistake to adopt it ...
... constitutional provisions for lending to undertake a Constitutional amendment . Senator BROCK . We discussed as much as 5 years . I think the States have an opportunity for change . Mr. SMITH . I think it would be a mistake to adopt it ...
Page 16
... constitutional provision , the elaborate machinery simply cannot be cranked up in time to solve the very immediate dilemma . That , of course , mandates federal attention to an econo- mic problem which is regional in scope and national ...
... constitutional provision , the elaborate machinery simply cannot be cranked up in time to solve the very immediate dilemma . That , of course , mandates federal attention to an econo- mic problem which is regional in scope and national ...
Common terms and phrases
amendment Arkansas banks Arkansas Constitution Bankers Association bill Board capital certificates of deposit Chairman charge interest commercial paper Committee competitive constitutional construction corporate borrowers corporate loans cost Court credit markets customers dealers discount rate economic Federal Deposit Insurance Federal funds Federal Reserve Bank Federal Reserve discount finance companies financial institutions Governor growth higher interest rates higher rates housing inflation interest ceiling interest rate ceiling investment June legislation legislature lenders lending institutions Little Rock loan associations loans to corporations market rates maximum rate Memphis million MITCHELL money market Montana Nashville National Bank Act needs paper in effect PENICK period permitted President prime rate problem proposed provision rate of interest relief Reserve discount rate savings and loan Senator BROCK SINCLAIR state's statement Tenn Tennessee banks Tennessee's tion U.S. Senate usury ceilings usury laws usury limit WICKARD Winfield Dunn Worthen Bank
Popular passages
Page 36 - Although activities may be intrastate in character when separately considered, if they have such a close and substantial relation to interstate commerce that their control is essential or appropriate to protect that commerce from burdens and obstructions, Congress cannot be denied the power to exercise that control.
Page 101 - That every association may take, receive, reserve, and charge on any loan or discount made, or upon any note, bill of exchange, or other evidences of debt, interest at the rate allowed by the laws of the State or territory where the bank is located, and no more...
Page 36 - The fundamental principle is that the power to regulate commerce is the power to enact "all appropriate legislation...
Page 101 - District where the bank is located, and no more, except that where by the laws of any State a different rate is limited for banks of issue organized under State laws, the rate so limited shall be allowed for associations organized or existing in any such State under this Title.
Page 102 - The purchase, discount or sale of a bona fide bill of exchange, note or other evidence of debt payable at another place than the place of such purchase, discount or sale at not more than the current rate of exchange for sight...
Page 114 - Thou shalt not lend upon usury to thy brother; usury of money, usury of victuals, usury of any thing that is lent upon usury : unto a stranger thou mayest lend upon usury ; but unto thy brother thou shalt not lend upon usury...
Page 110 - District, the bank may take, receive, reserve, or charge a rate not exceeding 7 per centum, or 1 per centum in excess of the discount rate on ninety-day commercial paper in effect at the Federal reserve bank in the Federal reserve district where the bank is located, whichever may be the greater, and such interest may be taken in advance, reckoning the days for which the note, bill, or other evidence of debt has to run.
Page 103 - And the purchase, discount, or sale of a bona fide bill of exchange, payable at another place than the place of such purchase, discount, or sale, at not more than the current rate of exchange for sight drafts, in addition to the interest, shall not be considered as taking or receiving a greater rate of interest.
Page 102 - State or territory, the bank may take, receive, reserve or charge a rate not exceeding seven per centum, and such interest may be taken in advance, reckoning the days for which the note, bill, or other evidence of debt has to run.
Page 101 - Territory, or district where the bank is located, and no more, except that where by the laws of any State a different rate is limited for banks of...