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JOSEPH P. LOMBARDO Partner Chicago (V-Card) T: 312.845.3428 F: 312.516.1428 lombardo@chapman.com |
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Chapman and Cutler Leads Successful Appeal Before Illinois Supreme Court for Banks and Mortgage Lenders on Lending Fee Limitations September 26, 2005 In a ruling that has significant impact for banks, mortgage lenders and trustees of securitized mortgage loans, the Illinois state Supreme Court unanimously rejected a state law which severely restricted the fees that lenders can charge and imposed crippling penalties on companies that exceeded the restriction. Chicago-based Chapman and Cutler LLP led the defense effort on behalf of the financial institutions. Full story |