The Eleventh Circuit vacated a class certification order and injunctive relief award, holding that injunctive and declaratory relief are not available remedies for claims brought under the Truth in Lending Act. The plaintiff alleged that his lender listed an insurance fee as part of the “amount financed” rather than “finance charge” on his TILA disclosure. The Court vacated the injunctive relief-based class certification order, holding that TILA does not confer a private injunctive relief right because Congress did not expressly provide for it in the statute. The Court also vacated the restitution award, holding that restitution is similarly unavailable for alleged disclosure violations under TILA. The Court confirmed that the only available remedies in this context are actual damages (which require proof of reliance) or statutory damages. Click here for a copy of Kenneth R. Christ, Jr. v. Beneficial Corporation, No. 06-14828 (11th Cir. Oct. 28, 2008).
Alert November 04, 2008