Hilda J. Dryden v. Lou Budke's Arrow Finance Company

This action was brought under the Truth in Lending Act (TILA or the Act), 15 U.S.C. § 1601 et seq., to recover statutory damages for the alleged failure of Lou Budke’s Arrow Finance Company (Budke.’s) to comply with the disclosure provisions of the Act and Federal Reserve Board Regulation Z.

We have considered this case on a previous appeal, when appellant appealed the district court’s ruling that the Act did not apply to the transaction at issue. Dryden v. Lou Budke’s Arrow Finance Co., 630 F.2d 641 (8th Cir. 1980). We concluded that the underlying transaction constituted an assumption of…