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MARQUETTE NAT., ETC. v. FIRST OF OMAHA SERV.

No. 47561.

262 N.W.2d 358 (1977)

The MARQUETTE NATIONAL BANK OF MINNEAPOLIS, Respondent, v. FIRST OF OMAHA SERVICE CORPORATION, Appellant, and State of Minnesota, Intervenor, Respondent.

Supreme Court of Minnesota.

Rehearing Denied December 8, 1977.

Attorney(s) appearing for the Case

Mackall, Crounse & Moore, Clay R. Moore, Minneapolis, Swarr May, Smith & Andersen, William E. Morrow, Jr., and Donald J. Buresh, Omaha, Neb., for appellant.

Levitt, Palmer, Bowen, Bearmon & Rotman and John Troyer and J. Patrick McDavitt, Minneapolis, for Marquette Nat. Bank.

Warren Spannaus, Atty. Gen., Richard B. Allyn, Sol. Gen., Thomas R. Muck, Asst. Atty. Gen., Stephen Shakman and Roderick I. MacKenzie, Sp. Asst. Attys. Gen., St. Paul, for the State.

Considered and decided by the court en banc.

TODD, Justice.

The Marquette National Bank of Minneapolis (Marquette) sought to enjoin the First National Bank of Omaha (Omaha Bank) and its wholly-owned subsidiary, First of Omaha Service Corporation (Omaha Service) from issuing BankAmericard credit cards to the State of Minnesota. The Omaha Bank program assessed customers an annual interest rate of 18 percent on unpaid balances of less than $1,000, to be computed upon the prior month's balance of the individual...

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