Case Study: Taub V. Big M Inc.

Law360, New York (October 11, 2010, 1:01 PM EDT) -- As a consumer, you may not have carefully scrutinized the disclosure statements that accompanied your credit card accounts. As a credit issuer, however, you ignore the details of your disclosure statements at your peril.

A recent federal district court decision in Taub v. Big M Inc., No. 09 Civ 10592 (S.D.N.Y. June 23, 2010), found that the disclosures contained in a retail store credit agreement violated the Truth in Lending Act (TILA), 15 U.S.C. § 1601, et seq., and its implementing regulation, 12 C.F.R. § 226...
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