Supreme Court of Rhode Island Declares Usury Savings Clauses Void
By EsqSocial Corporation 28/02/14
For public policy reasons, the Rhode Island Supreme Court recently held that usury savings clauses are void and unenforceable. In NV One, LLC v. Potomac Home Capital, LLC, borrowers who had defaulted on their note filed a lawsuit against the lender,...
By: Ballard Spahr LLP