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FEDERAL NATIONAL MORTGAGE ASS'N v. LEFKOWITZ

No. 74 Civ. 4293.

390 F.Supp. 1364 (1975)

FEDERAL NATIONAL MORTGAGE ASSOCIATION, Plaintiff, v. Louis J. LEFKOWITZ, as Attorney General of the State of New York, and Malcolm Wilson, as Governor of the State of New York, Defendants.

United States District Court, S. D. New York,

February 12, 1975.

Attorney(s) appearing for the Case

Cadwalader, Wickersham & Taft, New York City, by John J. Walsh, Dean J. Landau, Peter G. Bergmann, New York City, of counsel, for plaintiff.

Louis J. Lefkowitz, Atty. Gen. State of N.Y., New York City, by Stanley L. Kantor, Asst. Atty. Gen., of counsel, for defendants.

Before GURFEIN, Circuit Judge, and COSTANTINO and KNAPP, District Judges.

WHITMAN KNAPP, District Judge.

This action challenges the constitutionality of a recently enacted New York statute—Chapter 119, of the Laws of 1974 (codified as Section 14-b of the Banking Law, McKinney's Consol.Laws, c. 2, and Section 5-601 of the General Obligations Law, McKinney's Consol. Laws, c. 24A)1—which requires mortgage lending institutions to pay interest of at least...

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