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FRANCONIA VIL. COOP. v. LINCOLN SAV. BANK

22 A.D.2d 402 (1965)

Franconia Village Cooperative, Inc., Appellant, v. Lincoln Savings Bank of Brooklyn, Respondent

Appellate Division of the Supreme Court of the State of New York, Second Department.

January 18, 1965.

Attorney(s) appearing for the Case

Golden, Wienshienk, Rosenthal & Mandel (Albert J. Rosenthal and Simon Eilenberg of counsel), for appellant.

Corner, Finn, Froeb & Charles (Mario Matthew Cuomo and Francis X. Keenan of counsel), for respondent.

UGHETTA, Acting P. J., BRENNAN, RABIN and HOPKINS, JJ., concur.

CHRIST, J.

At the heart of this appeal is plaintiff's attack on the propriety and legality of a banking practice whereby mortgagees imposed upon their mortgagors a flat service charge of 1½% of the principal of Federal Housing Authority insured mortgage loans, plus out-of-pocket closing expenses.

The plaintiff, Franconia Village Cooperative, Inc., made these two payments: $32,522 representing 1&...

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