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ARTICLE · 23 JUNE 2010

Supreme Court Docket Report - June 21, 2010

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Regulation Z, 12 C.F.R. § 226, issued by the Federal Reserve Board pursuant to the Truth in Lending Act, provides that a creditor must give contemporaneous notice to a consumer when certain credit terms are changed.

United StatesLitigation, Mediation & Arbitration

Originally published June 21, 2010

Keywords: Truth in Lending Act, Regulation Z, periodic rate increases, Chase Bank, credit terms

Today the Supreme Court granted certiorari in one case of interest to the business community:

Truth in Lending Act—Regulation Z—Notice of Periodic Rate Increases

Regulation Z, 12 C.F.R. § 226, issued by the Federal Reserve Board pursuant to the Truth in Lending Act, provides that a creditor must give contemporaneous notice to a consumer when certain credit terms are changed. The Supreme Court granted certiorari today in Chase Bank USA v. McCoy, No. 09-329, to determine whether Regulation Z requires a creditor to provide a consumer with a change-in-terms notice when, pursuant to a contractual provision, the creditor increases the interest rate in response to the consumer's default.

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