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High Court Upholds Damage Cap on Loan Agreements

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High Court Upholds Damage Cap on Loan Agreements

Law

High Court Upholds Damage Cap on Loan Agreements

High Court Upholds Damage Cap on Loan Agreements

  • Download
  • <iframe src="https://www.npr.org/player/embed/4194512/4194513" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

In an 8-1 ruling, the Supreme Court upholds the $1,000 damage limit under the federal Truth in Lending Act. The case involved a man who was misled while arranging a car loan. The consumer maintained that changes in the law approved by Congress meant that he was entitled to more than the law's original damages cap. Hear NPR's Nina Totenberg.

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