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Smathers v. Fulton Federal Savings & Loan, 653 F.2d 977 (5th Cir. 1981)

Case Conclusion Date: 08.17.1981

Practice Area: Debt & Lending Agreements

Outcome: Consumer lost case but court established princpals of how it would apply US Supreme Court holding on application of FRB regulations.

Description: Suit was filed on behalf of a consumer who purchased a car for violations of the Truth in Lending Act. On behalf of the consumer we argued that the description of the security interest was unclear. The court ruled against the consumer on the basis of an intervening U.S. Supreme Court case addressing the impact of Federal Reserve Board regulations.

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