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KOOS v. FIRST NATIONAL BANK OF PEORIA, ILLINOIS

No. P-CIV-72-68.

358 F.Supp. 890 (1973)

Elmo E. KOOS, Sr., et al., Plaintiffs, v. FIRST NATIONAL BANK OF PEORIA, ILLINOIS, a National Banking Association, Defendant.

United States District Court, S. D. Illinois, N. D.

May 25, 1973.

Attorney(s) appearing for the Case

John F. Sloan, Peoria, Ill., for plaintiffs.

Carroll Baymiller, Peoria, Ill., for defendant.

DECISION AND ORDER

ROBERT D. MORGAN, Chief Judge.

Plaintiff borrowers filed a complaint and purported class action on behalf of themselves and all persons similarly situated against defendant lender for recovery of double the interest paid on loans upon which interest allegedly was charged in excess of the rate permitted by law. Upon motion to dismiss, based upon a statutory exception to the Illinois usury statute, this court dismissed the complaint, granting...

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