Chase Home Finance Beats Truth-In-Lending Class Action

Law360, New York (September 27, 2012, 9:28 PM EDT) -- An Alabama federal judge on Wednesday dismissed a putative truth-in-lending class action against Chase Home Financial LLC alleging it failed to timely notify customers when their mortgages were assigned to it, finding that the lender is exempt from such requirements.

Chase's activities fall within the “safe harbor” provision of the Truth in Lending Act, which states that as a loan servicer it shouldn't be treated as the assignee or owner of the loan and therefore has no duty of notification, U.S. District Judge William H. Steele...
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