Legal Opinion
Calvin Steele v. Ford Motor Credit Company
Court of Appeals for the Eleventh Circuit
Decided March 3, 1986No. 85-8418PublishedCited by 10 opinions
1Opinion of the Court
VANCE, Circuit Judge:
In this case we must determine whether appellee Ford Motor Credit Company materially understated the cost of credit in a loan it made to appellant Steele, so that Steele is entitled to relief under the Truth in Lending Act. We conclude that the cost of credit was materially understated and thus reverse the district court’s contrary ruling.
I
On March 26, 1981, Steele borrowed $3000 from Ford. Steele was to pay interest totaling $945 if the loan remained outstanding for its full 36-month term. As it turned out, however, the loan was paid off early. On July 2, 1981, Steele…
2Cases cited6 opinions
- Roberto Bustamante Et Ux. v. First Federal Savings and Loan Association of San Antonio, Montelongo Lumber CompanyCourt of Appeals for the First Circuit · 1980
- Bessie Lee Harris v. Tower Loan of Mississippi, Inc.Court of Appeals for the Fifth Circuit · 1980
- Ronald C. Davis and Bari Davis v. Federal Deposit Insurance CorporationCourt of Appeals for the Federal Circuit · 1980
- Alabama Electric Cooperative, Inc., a Foreign Corporation v. First National Bank of Akron, OhioCourt of Appeals for the First Circuit · 1982
- Ivey v. United States Department of Housing & Urban DevelopmentDistrict Court, N.D. Georgia · 1977
1 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Steinbrecher v. Mid-Penn Consumer Discount Co. (In Re Steinbrecher)United States Bankruptcy Court, E.D. Pennsylvania · 1990
- Mayo v. Key Financial Services, Inc.Massachusetts Supreme Judicial Court · 1997
- Wiskup v. Liberty Buick Co., Inc.District Court, N.D. Illinois · 1997
- Jones v. Mid-Penn Consumer Discount Co. (In Re Jones)United States Bankruptcy Court, E.D. Pennsylvania · 1987
- Malfa v. Household Bank, F.S.B.District Court, S.D. Florida · 1993
5 more not listed; retrieve them via the Exa API.