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The Supreme Court ruled Tuesday that car buyers can only get limited damages when misled about car loans. In an 8-1 ruling, justices said a Virginia man was entitled to no more than $1,000. A ruling the other way could have opened the door to more than $1 billion in annual damages nationwide, auto dealers and banks said. The Court used the case to clarify the Truth in Lending Act, which was intended to force loan details into the open and allow consumers to better evaluate the cost of credit.
December 01, 2004 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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