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FLETCHER v. TUSCALOOSA FEDERAL SAVINGS & L. ASS'N

SC 1100.

314 So.2d 51 (1975)

Thomas F. FLETCHER et al., etc. v. TUSCALOOSA FEDERAL SAVINGS AND LOAN ASSOCIATION.

Supreme Court of Alabama.

May 22, 1975.

Attorney(s) appearing for the Case

Drake, Knowles & Still, University, for appellants.

Rosen, Wright, Harwood & Albright, Tuscaloosa, for appellee.

Isaac P. Espy, Tuscaloosa, for amicus curiae David P. Thompson and Sarah M. Thompson, in support of appellants.

Robert J. Russell, Montgomery, for amicus curiae Ala. Ass'n of Realtors; Odom, Argo & Enslem, Montgomery, for amicus curiae Ala. League of Sav. Ass'ns; Shannon, Odom, Robertson & Jackson, Birmingham, for amicus curiae Ala. Mortgage Bankers Assn.; C. John Holditch, Birmingham, for amicus curiae Cobbs, Allen & Hall Mortgage Co., Inc.; James M. Tingle, Birmingham, for amicus curiae Collateral Investment Co.; Spain, Gillon, Riley, Tate & Etheredge and John P. McKleroy, Jr., Birmingham, for amicus curiae Johnson-Rast & Hays Co., in support of appellee.

ALMON, Justice.

Appellants, plaintiffs below, filed suit in circuit court seeking declaratory relief upon an indebtedness which was allegedly usurious under existing state law. The suit was styled as a class action; the members of such class being composed of all persons loaned money by appellee, Tuscaloosa Federal Savings and Loan Association, the principal on such loan being greater than $2,000.00 and less than $100,000.00 and at an interest rate in excess of 8...

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