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FLETCHER v. SECURITY PACIFIC NATIONAL BANK

Docket No. L.A. 30881.

23 Cal.3d 442 (1979)

591 P.2d 51

153 Cal. Rptr. 28

HARRELL E. FLETCHER, Plaintiff and Appellant, v. SECURITY PACIFIC NATIONAL BANK, Defendant and Respondent. GERTRUDE CHERN, Plaintiff and Appellant, v. SECURITY PACIFIC NATIONAL BANK, Defendant and Respondent.

Supreme Court of California.

February 28, 1979.

Attorney(s) appearing for the Case

COUNSEL

Lawrence I. Schwartz and Michael R. Palley for Plaintiffs and Appellants.

Sheppard, Mullin, Richter & Hampton and Paul M. Reitler for Defendant and Respondent.

OPINION

TOBRINER, J.

Two years ago, in Chern v. Bank of America (1976) 15 Cal.3d 866 [127 Cal.Rptr. 110, 544 P.2d 1310], our court determined that the industry-wide banking practice of computing so-called "per annum" interest rates on the basis of a 360-day year constituted an unfair trade practice under...

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