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Daily Archives: Tuesday, May 4, 2021

Posted: May 4, 2021

Fee Considered In Determining Whether Loan Was Usurious

On April 20, 2021, the First Department issued a decision in Salamone v. EIP Global Fund LLC, 2021 NY Slip Op. 02372, holding that fees are considered in determining whether a loan is usurious, explaining: In the absence of estoppel, the forbearance agreement is otherwise void as usurious and the forbearance fee is properly considered... Read more »