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Reg. M -- 12 C.F.R. § 213

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Court of Appeal (Ill.) Says Auto Lease Default Provision Complied with Regulation M

by Scott J. Hyman |

In Robinson v. Point One Toyota, Evanston --- N.E.2d ----, 2012 IL App (1st) 111889, 2012 WL 6725904 (Ill.App. 1 Dist. 2012), the Illinois Court of Appeal found that an automobile lease complied with Regulation M: [The Plaintiffs] maintain that, as a matter of law, their lease agreements violated the disclosure requirements of the CLR and Regulation M in that default… Read More

Superior Court (N.J.) Grants Summary Judgment to Auto Finance Company on Class Action Challenging Disposition Charges for Defaulted Lessees

by Scott J. Hyman |

In Ford Motor Credit Company v. Calandra, --- A.3d ----, 2011 WL 2566076 (N.J.Super.A.D. 2011), the New Jersey Court affirmed summary judgment in favor of a vehicle finance company on a class action claim alleging that the finance company could not treat defaulting lessors different from non-defaulting lessors by charging disposition charges in connection with selling a leased vehicle in… Read More

FRB Adopts Rules Increasing Reg.M/Reg.Z Thresholds to $50,000, Effective July 21, 2011

by Scott J. Hyman |

The Federal Reserve Board recently adopted two rules, Reg. Z Rule, and Reg. M Rule, that would expand the coverage of consumer protection regulations to credit transactions and leases of higher dollar amounts.   The final rules amend Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) to implement a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act.… Read More