http://www.reuters.com/newsArticle.j...toryID=6956431
WASHINGTON (Reuters) - The U.S. Supreme Court on Tuesday ruled the federal truth in lending law caps damages at $1,000 for violations of its requirements for consumer loans secured by personal property, such as a motor vehicle.
The law instructs lenders to disclose certain information to borrowers and imposes civil liability on those who fail to do so. It allows damages double the amount of the finance charge, but for each violation, Congress specified a minimum recovery of $100 and maximum one of $1,000.
