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 43
Page 1
... need to borrow sizeable amounts in order to carry on their businesses , simply cannot get money in States like Tennessee and Arkansas , where the State constitutions impose ceilings of 10 percent . In Montana , statutory restrictions ...
... need to borrow sizeable amounts in order to carry on their businesses , simply cannot get money in States like Tennessee and Arkansas , where the State constitutions impose ceilings of 10 percent . In Montana , statutory restrictions ...
Page 9
... need for new housing resulting from household formation . However , there is also an adverse impact on those who wish to buy and sell existing homes . A homeowner who has to sell his house because of a change in job or the needs of a ...
... need for new housing resulting from household formation . However , there is also an adverse impact on those who wish to buy and sell existing homes . A homeowner who has to sell his house because of a change in job or the needs of a ...
Page 12
... needs , then there may be appropriate reasons for the use of the discount device . Where it is a matter of cost of funds , a matter of diminution of margins or spreads in rates for a particular institution , the Board has thought long ...
... needs , then there may be appropriate reasons for the use of the discount device . Where it is a matter of cost of funds , a matter of diminution of margins or spreads in rates for a particular institution , the Board has thought long ...
Page 13
... need . I personally think a longer period than the 3 years that has been proposed would be more realistic . That is my personal view . I know the problems . I have been involved with the problems of not only changing legislation in the ...
... need . I personally think a longer period than the 3 years that has been proposed would be more realistic . That is my personal view . I know the problems . I have been involved with the problems of not only changing legislation in the ...
Page 16
... needs is being seriously impaired due to the critical shortage of cor- porate money in Tennessee . Of course , these examples illustrate the more fundamental question of usury laws and their social utility . Usury laws have always been ...
... needs is being seriously impaired due to the critical shortage of cor- porate money in Tennessee . Of course , these examples illustrate the more fundamental question of usury laws and their social utility . Usury laws have always been ...
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...