Greater Chautauqua Federal Credit Union et al v. Quattrone et al
Case Number:
1:22-cv-02753
Court:
Nature of Suit:
Constitutional - State Statute
Multi Party Litigation:
Class Action
Judge:
Firms
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March 21, 2025
Credit Unions Denied Class Cert. In NY Rate Cut Suit
A trio of Western New York credit unions can't get certification for a class of state court consumer debt judgment holders after a lengthy "abusive and tactical" delay in filing their certification bid in a suit over a state law aimed at decreasing the default interest rate for such judgments, a Manhattan federal judge found.
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June 14, 2022
AG Sticks Up For NY Rate Cut Law In Credit Unions' Suit
New York's attorney general told a Manhattan federal judge Monday that a new state law slashing the statutory interest rate on money judgments for consumer debt isn't unconstitutional, firing back at a legal challenge that alleges the law will unjustly strip judgment creditors of millions owed to them.
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April 28, 2022
NY Sheriffs Blocked From Enforcing Slashed Debt Rate Law
A New York federal judge on Thursday blocked Empire State sheriffs from enforcing a new state law that retroactively reduces the statutory interest rate on judgments in consumer debt cases from 9% to 2%, ruling that credit unions challenging the measure have "clearly established irreparable harm."
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April 04, 2022
3 Credit Unions Sue Over NY Debt Judgment Rate Cut Law
Three federal credit unions are suing to block a soon-to-be-effective New York state law that slashes the statutory interest rate on judgments in consumer debt cases from 9% to 2%, a measure seeking to ease pandemic-related financial burdens on borrowers, but is being challenged as unconstitutional.