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TILA -- 15 U.S.C. § 1601

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In Bengal Motor Co., Ltd. v. Cuello, --- So.3d ----, 2013 WL 1980147 (Fla.App. 3 Dist. 2013), the Florida Court of Appeal found that a car dealer violated TILA by having the customer sign a RISC, but also 2 other documents stating that consummation was conditioned on the dealer securing financing.  The facts were as follows: Cuello sought to buy… Read More

In Robinson v. Point One Toyota, Evanston --- N.E.2d ----, 2012 IL App (1st) 111889, 2012 WL 6725904 (Ill.App. 1 Dist. 2012), the Illinois Court of Appeal found that an automobile lease complied with Regulation M: [The Plaintiffs] maintain that, as a matter of law, their lease agreements violated the disclosure requirements of the CLR and Regulation M in that default… Read More

In Stevenson v. American Honda Finance Corp., 2012 WL 6672848 (D.N.J. 2012), Judge Pisano found no liability for an automobile finance company's acceptance of a RISC that contained a miscalculated "Credit Inquiry Fee". In May 2011, Plaintiff entered into a retail installment sales contract (the “RISC”) with non-party Honda Universe for the financed purchase of a 2009 Honda Civic.  The RISC, which… Read More

In Limtiaco v. Auction Cars.com, LLC, 2012 WL 4911726 (D.Nev. 2012), Judge Du found that a car dealer’s failure to sell a vehicle at market price constituted a hidden finance charge under TILA, even though the RISC did not finance any part of the purchase. On July 24, 2010, Limtiaco entered into a Motor Vehicle Purchase Order and Federal Disclosure… Read More

In Owen v. Jim Allee Imports, Inc., --- S.W.3d ----, 2012 WL 3755750 (Tex.App.-Dallas 2012), the Texas Court of Appeal held (again) that it was so well-settled and proper for a car dealer to roll trade-in negative equity into the purchase price of the RISC that a Plaintiff’s counsel should be sanctioned for arguing otherwise. In Bledsoe, this Court considered… Read More

In  Davis v. HSBC Bank Nevada, N.A., --- F.3d ----, 2012 WL 3804370 (9th Cir. 2012), the Court of Appeals for the Ninth Circuit held that a credit card company’s on-line TILA disclosures identifying that an annual fee would be required provided a safe-harbor against a false advertising claim based on a claim that a retailer’s advertisements failed to disclose… Read More

In Aleman v. Ellington Auto Sales & Financing, LLC, 2012 WL 3611212 (D.Conn. 2012), Judge Underhill found that a downpayment on a car evidence by a note was not a deferred down-payment under TILA, but rather was permitted under Reg. Z’s allowance of a creditor to disclose the terms of the Note separately from the disclosures pertaining to the RISC. … Read More

    In Vogel v. Onyx Acceptance Corp., --- P.3d ----, 2011 WL 6316014 (Wyo. 2011), the Wyoming Supreme Court found in favor of an auto finance company and against Wyoming regulators.  The Regulators had claimed that “Onyx violated the WUCCC by charging customers a fee, that was not disclosed when credit was extended, for making payments by telephone or… Read More

In LeFoll v. Key Hyundai of Manchester LLC, 2011 WL 6153171 (D.Conn. 2011), Judge Egington held that a car dealer’s printing malfunction on a class of consumers’ RISCs violated TILA as to both the dealer and the assignee finance company.  The facts were as follows.  On June 30, 2009 plaintiff purchased a Hyundai Sonata pursuant to a retail installment sales… Read More

In Sixto Ramirez, Plaintiff–Appellant, v. National Cooperative Bank -- N.Y.S.2d ----, 2011 WL 6032399 (N.Y.A.D. 1 Dept. 2011), Judge Catterson found an assignee liable for common law fraud claims arising out of an automobile sale under the FTC and NY Holder Rules: In its decision and order dated August 3, 2010, the motion court granted NCB's motion. While not explicitly… Read More

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