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Category Archives: Usury

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SCOKY Drops the Ball in Unifund

Posted in FDCPA, Kentucky Law, Usury
The Kentucky Supreme Court offered a new interpretation of Kentucky’s usury statute, KRS 360.010, in a collection case involving a credit-card receivable. Unfortunately, SCOKY interpreted a statute that did not apply. Harrell, a consumer, had a credit card agreement with Citibank, N.A., a national bank with headquarters in South Dakota. The interest rate was 27.24%.… Continue Reading