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High court limits damages consumers can get for being misled on auto loans :: The Daily Herald, Provo Utah
WASHINGTON -- Car buyers beware: the Supreme Court said Tuesday that people misled about auto loans cannot use a federal law to receive significant damages.

Justices limit consumer damages for misleading auto loans
Car buyers beware: the Supreme Court said Tuesday that people misled about auto loans cannot use a federal law to receive significant damages. When Congress passed the Truth in Lending Act 36 years ago, it decided to let consumers sue dishonest lenders for damages of $100 to $1,000.

Auto loan penalties capped
Car dealers who mislead buyers about auto loans don't have to pay more than $1,000 in penalties under federal law, the Supreme Court ruled yesterday.

Justices limit consumer damages for misleading auto loans
The Supreme Court ruled Tuesday that car buyers can only get limited damages when they are misled about automobile loans. Justices ruled 8-1 against a Virginia man who alleged he was a victim of unscrupulous tactics by a car dealership in Alexandria, Va.



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Wednesday, 10-Mar-2010 13:36:13 CST