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CITY NAT. BANK v. EDMISTEN

No. 81-2157.

681 F.2d 942 (1982)

CITY NATIONAL BANK, First Union National Bank of North Carolina, North Carolina National Bank, Southern National Bank of North Carolina, Wachovia Bank and Trust Company, N.A., First-Citizens Bank and Trust Company and Peoples Bank and Trust Company, Appellees, v. Rufus L. EDMISTEN, Atty. Gen. of the State of North Carolina, Appellant.

United States Court of Appeals, Fourth Circuit.

Decided June 30, 1982.

Attorney(s) appearing for the Case

James C. Gulick, Asst. Atty. Gen., John F. Maddrey, Associate Atty. Gen., Alan S. Hirsch, Asst. Atty. Gen., Raleigh, N. C. (Rufus L. Edmisten, Atty. Gen., Millard R. Rich, Jr., Deputy Atty. Gen., Raleigh, N. C., on brief), for appellant.

John R. Jordan, Jr., Raleigh, N. C. (Robert R. Price, R. Frank Gray, E. Burke Haywood, Jordon, Brown, Price & Wall, Raleigh, N. C., on brief), for appellees.

Before WINTER, Chief Judge, SPROUSE, Circuit Judge, and DOUMAR, District Judge.

HARRISON L. WINTER, Chief Judge:

Plaintiffs, five national banks and two state-chartered federally insured banks, sought a declaratory judgment from the district court that an annual "membership fee" which they propose to charge holders of bank credit cards would not violate North Carolina's usury laws if added to the interest currently charged on credit card accounts. On cross motions for summary judgment, the district court granted a declaratory judgment as sought...

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