(DOWNLOAD) "Smiley v. Citibank (South Dakota)" by Supreme Court of the United States # eBook PDF Kindle ePub Free
eBook details
- Title: Smiley v. Citibank (South Dakota)
- Author : Supreme Court of the United States
- Release Date : January 03, 1996
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 64 KB
Description
Section 30 of the National Bank Act of 1864, Rev. Stat. Section(s) 5197, as amended, 12 U. S. C. Section(s) 85, provides that a national bank may charge its loan customers "interest at the rate allowed by the laws of the State . . . where the bank is located." In Marquette Nat. Bank of Minneapolis v. First of Omaha Service Corp., 439 U. S. 299 (1978), we held that this provision authorizes a national bank to charge out-of-state credit-card customers an interest rate allowed by the banks home State, even when that rate is higher than what is permitted by the States in which the cardholders reside. The question in this case is whether Section(s) 85 also authorizes a national bank to charge late-payment fees that are lawful in the banks home State but prohibited in the States where the cardholders reside-in other words, whether the statutory term "interest" encompasses late-payment fees.
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