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AMERICAN TIMBER & TRAD. CO. v. FIRST NAT. BANK OF OREGON

Civ. No. 70-687.

334 F.Supp. 888 (1971)

AMERICAN TIMBER & TRADING CO., an Oregon corporation, on its own behalf and on behalf of all corporations and individuals who have been and are presently being charged interest in excess of the rates permitted by law, Plaintiff, v. FIRST NATIONAL BANK OF OREGON, a National Banking Association, Defendant. Lawrence BERNARD, individually, and Dr. Lawrence Bernard, Professional Corporation, Intervening Plaintiff, v. FIRST NATIONAL BANK OF OREGON, a National Banking Association, Defendant.

United States District Court, D. Oregon.

December 6, 1971.

Attorney(s) appearing for the Case

Carey & Hanlon, Henry A. Carey, Jr., Portland, Or., Goldsmith, Siegel & Engel, Gerson F. Goldsmith, Brad Littlefield, Portland, Or., for plaintiffs.

Miller, Anderson, Nash, Yerke & Wiener, Fredric A. Yerke, Norman J. Wiener, R. Alan Wight, Portland, Or., for defendant.

MEMORANDUM OPINION

ALFRED T. GOODWIN, District Judge:

On an agreed statement of facts and cross-motions for summary judgment, the court has for decision a segregated question whether the rates of interest charged certain borrowers by the defendant bank are usurious under 12 U. S.C. § 86. The National Banking Act incorporates the maximum-interest law of the state or territory where a national bank does business. 12 U.S.C. § 85.

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