Norman Sage v. Freedom Mortgage Company

VANCE, Circuit Judge:

A panel of this court reversed a summary judgment for the lender defendant1 holding itself bound by the fifth circuit’s decision in Pollock v. General Finance Corp., 535 F.2d 295 (5th Cir.1976), cert. denied, 434 U.S. 891, 98 S.Ct. 265, 54 L.Ed.2d 176 (1977).2 Applying Pollock the panel held that the lender violated section 129(a)(1) of the Truth-in-Lending Act, 15 U.S.C. § 1639(a)(1) by not making a disclosure of net loan proceeds separate from other required or permitted disclosures.3 Sitting en banc the court has reconsidered the correet*1520ness of the Pollock rule in the…