Citizens' National Bank v. DonnellAnnotate this Case
195 U.S. 369 (1904)
U.S. Supreme Court
Citizens' National Bank v. Donnell, 195 U.S. 369 (1904)
Citizens' National Bank of Kansas City v. Donnell
Argued November 1, 1904
Decided November 28, 1904
195 U.S. 369
Under §§ 5197, 5198, U.S.Rev.Stat., a national bank which compounds interest in a manner prohibited by the state forfeits all interest even though the total interest amounts to less than the maximum rate permitted by the state.
A national bank, met in an action by the plea of usury, may not avoid the forfeiture of all interest by then declaring an election to remit the excessive interest.
The facts are stated in the opinion.
Official Supreme Court caselaw is only found in the print version of the United States Reports. Justia caselaw is provided for general informational purposes only, and may not reflect current legal developments, verdicts or settlements. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or information linked to from this site. Please check official sources.