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NORTHWAY LANES v. HACKLEY UNION NAT. BANK & TRUST CO.

No. 71-1987.

464 F.2d 855 (1972)

NORTHWAY LANES, a co-partnership consisting of Ralph Kuris and Bessie Shull, and Marshull, Inc., a Michigan corporation, Plaintiffs-Appellants, v. HACKLEY UNION NATIONAL BANK AND TRUST COMPANY, a National Banking Association, Defendant-Appellee.

United States Court of Appeals, Sixth Circuit.

July 18, 1972.

Attorney(s) appearing for the Case

Arthur M. Rude, Muskegon, Mich., for appellants; Parmenter, Forsythe, Rude & Dethmers, Muskegon, Mich., on brief.

H. Winston Hathaway, Muskegon, Mich., for appellee; Landman, Hathaway, Latimer, Clink & Robb, Muskegon, Mich., on brief.

John P. Milanowski, Grand Rapids, Mich., L. Patrick Gray, III, Walter H. Fleischer and Robert Feinson, Attys. Dept. of Justice, Washington, D. C., on brief amicus curiae for United States; John E. Shockey, Comptroller of the Currency, Washington, D. C., of counsel.

Before CELEBREZZE and PECK, Circuit Judges; and RUBIN, District Judge.

CARL B. RUBIN, District Judge.

Sections 85 and 86 of the National Bank Act, 12 U.S.C.A., §§ 85 and 86,1 prescribe the rates of interest that may be charged by national banking associations and declare that the receiving of a rate of interest greater than that allowed, when knowingly done, shall give rise to a statutory proceeding for double that amount of interest.

Appellants herein, Northway Lanes, a co-partnership consisting...

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