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A federal judge was right not to delay the implementation of a Georgia law intended to regulate interest rates on so-called "payday" loans, a federal appellate panel has ruled. The decision, written by 11th U.S. Circuit Court Judge Frank M. Hull and joined by Senior Judge James C. Hill, noted that Georgia's law was designed to prevent out-of-state banks from circumventing the state's usury laws. But in a sharp dissent, another judge declared that it was Georgia that was attempting "to evade federal law."
June 16, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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