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3 Credit Unions Sue Over NY Debt Judgment Rate Cut Law

By Jon Hill (April 4, 2022, 5:56 PM EDT) -- 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....

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