Federal District Court in New York Extends Consumer Protection Laws to Loans for Corporations
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Significant Increase in New Jersey Post-Judgment Interest Rates Set for January 1, 2025
August 20, 2024Welcome back to The Weekly Friedman, where we break down the latest in the default industry.
This week, we’re diving into the novel case “Carla Barker v. Izia Rokosz” with us! In a decision, U.S. District Judge Matsumoto ruled that the Truth in Lending Act (TILA) applies to a “consumer credit transaction” even if the mortgage loan proceeds are received by a corporate entity, as long as the credit was extended to an individual who the lender compelled to establish the corporation.
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