TILA & HOEPA Caselaw Home Owners Equity Protection Act HOEPA Violations Plaintiffs reallege each and every of the foregoing allegations as if fully rewritten herein at length. In General -The Home Ownership and Equity Protection Act of 1994 (HOEPA or the Act) amended TILA by adding Section 129 of TILA, 15 U.S.C. § 1639, and has been implemented by Sections 226.31 and 226.32 of Regulation Z. 12 C.F.R. §§ 226.31 and 226.32. HOEPA was implemented to specifically curb the predatory lending practices of certain sub-prime lenders. TRUTH IN LENDING ACT TILA Violations Plaintiffs reallege each and every of the foregoing allegations as if fully rewritten herein at length. The Truth in Lending Act was passed to prevent the unsophisticated consumer from being misled as to total cost of financing. Truth in Lending Act, Section 102, 15 U.S.C. Section 1601. Griggs v. Provident Consumer Discount. 680 F.2d 927, certiorari granted, vacated 103 S.Ct. 400, 459 U.S. 56, 74 L.Ed.2d 225, on remand 699 F.2d 642. Purpose of Truth in Lending Act is for customers to be able to make informed decisions. Truth in Lending Act Section 102, 15 U.S.C. Section 1601. Griggs v. Provident Consumer Discount Co. 680 F.2d 927, certiorari granted, vacated 103 S.Ct. 400, 459 U.S. 56, 74 L.Ed,2d 225, on remand 699 F,2d 642, B. Party having superior knowledge who takes advantage of another’s ignorance of the law to deceive him by studied concealment or misrepresentation can be held responsible for that conduct. Fina Supply, Inc. v. Abilene Nat. Bank, 726 S.W.2d 537, 1987.
Posted on: Thu, 06 Jun 2013 17:48:27 +0000
Trending Topics
Recently Viewed Topics
© 2015