Mich. Justices Say Usury Clauses Can't Save Illegal Loans
By Carolyn Muyskens ( June 23, 2023, 7:12 PM EDT) -- The Michigan Supreme Court on Friday said lenders can't avoid liability for charging illegally high interest rates by including language in loan documents disclaiming that they do so, sending a private equity firm's breach-of-contract suit against a house-flipping company back to trial court to determine whether the lender broke the law....
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