Supreme Court Docket Report, October Term, 2003 – Number 8

On January 20, 2004, the Supreme Court granted certiorari in one case of potential interest to the business community. Amicus briefs in support of the petitioner are due on Friday, March 5, 2004, and amicus briefs in support of the respondent are due on Monday, April 5, 2004.

Truth In Lending Act - Cap On Statutory Damages For Failure To Disclose Finance Charg

e. The Truth In Lending Act ("TILA"), 15 U.S.C. §§ 1601 et seq., imposes disclosure requirements in a broad range of consumer credit transactions. As originally enacted in 1968, the statute allowed individuals to recover from a creditor that has failed to disclose a finance charge "twice the amount of the finance charge in connection with the transaction, except that the liability under this paragraph shall not be less than $100 nor greater than $1000 * * * ."Consumer Credit Protection Act § 130(a). As subsequently amended to permit actual damages and to cover additional types of credit transactions, TILA’s civil damages