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ROTHENBERG v. CHEMICAL BANK NEW YORK TRUST CO.

No. 74 Civ. 600.

400 F.Supp. 1299 (1975)

Robert M. ROTHENBERG and all others similarly situated, Plaintiff, v. CHEMICAL BANK NEW YORK TRUST CO., Defendant.

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

July 23, 1975.

Attorney(s) appearing for the Case

Sheldon v. Burman, New York City, for plaintiff.

Cravath, Swaine & Moore, New York City, for defendant by Ralph L. McAfee, James F. Gleason, Jr., W. Fillmore Wood, Jr., New York City, of counsel.

OPINION AND ORDER

KEVIN THOMAS DUFFY, District Judge.

The plaintiff, Robert M. Rothenberg, entered into a Privilege Checking agreement, collateral to his regular checking account, with the defendant, Chemical Bank New York Trust Co. ("Chemical"). Under the terms of the agreement Rothenberg was permitted to overdraw his regular checking account up to an agreed-upon maximum, such overdrafts to be covered by loans to his account in multiples of $100, unless...

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