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M. NAHAS & CO. v. FIRST NAT. BANK OF HOT SPRINGS

No. 90-2102.

930 F.2d 608 (1991)

M. NAHAS & CO., INC., Appellant, v. FIRST NATIONAL BANK OF HOT SPRINGS, Appellee.

United States Court of Appeals, Eighth Circuit.

Decided April 10, 1991.

Attorney(s) appearing for the Case

Donald M. Spears, Malvern, Ark., for appellant.

Michael S. McCrary, Hot Springs, Ark., for appellee.

Before ARNOLD and LOKEN, Circuit Judges, and BRIGHT, Senior Circuit Judge.

LOKEN, Circuit Judge.

Plaintiff M. Nahas & Co., Inc. appeals from a district court1 order dismissing its complaint that sought to recover from defendant First National Bank of Hot Springs, a national bank, interest paid in excess of the maximum lawful rate under Arkansas law, together with the usury penalty provided in Art. 19, § 13 of the Arkansas Constitution. The district court held that plaintiff's usury claim against a national...

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