Category: Usury
Agreements That Are Not Loans Are Not Subject to New York’s Usury Statutes
- Dec 22 2021
By: Jeffrey M. Haber “A transaction … is usurious under criminal law when it imposes an annual interest rate exceeding 25%.”1 General Obligations Law § 5–521 bars a corporation from asserting …
Litigation Funding Agreements and Usury
- Dec 7 2018
If anyone is wondering why seemingly high-cost “loans” by litigation funding companies are not considered usurious, the Appellate Division, First Department, explained why in Cash4Cases, Inc. v. Brunetti (December 6, …
