US Supreme Court maintains cap on recoveries for finance charge violations

US Supreme Court maintains cap on recoveries for finance charge violations

[JURIST] In a decision handed down Tuesday morning, the US Supreme Court ruled that the damages cap of $1,000 on recoveries under the Truth in Lending Act remained unchanged when Congress changed other TILA terms in 1995. The case is Koons Buick Pontiac GMC v. Nigh (case backgrounder from Duke Law School). Cornell's Legal Information Institute has today's opinion, per Justice Ginsburg, along with Justice Stevens' concurrence, Justice Kennedy's concurrence, Justice Thomas' concurrence, and Justice Scalia's dissent. AP has more.