New York CUs Win Court Order That Temporarily Blocks New State Law Amendment - Credit Union Times

A federal judge’s ruling temporarily blocked a new state law that would substantially reduce the retroactive statutory interest rate on post-judgment member debts.

U.S. District Court Judge Mary Kay Vyskocil, for the Southern District of New York in Manhattan, granted a preliminary injunction on April 28 after three credit unions argued in a proposed class-action lawsuit that the retroactive statutory interest rate amendment of the state’s law is unconstitutional.

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source: https://www.cutimes.com/2022/05/03/new-york-cus-win-court-order-that-temporarily-blocks-new-state-law-amendment/

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