Jones v. Community Loan & Investment Corp.

CLARK, Circuit Judge:

Our opinion issued January 30, 1976, 526 F.2d 642,1 interpreted the Consumer Credit Protection Act2 and the Federal Reserve Board’s implementing Truth-in-Lending Regulation,3 as that regulation was amended by 12 C.F.R. § 226.819 (Aug. 31, 1973).4 We concluded that the Act and Regulation as amended required the defendant Georgia lenders, who charged plaintiff borrowers a statutory non-refundable fee for making their loans, to disclose that fee as a “prepaid finance charge.” Subsequent to the publication of our decision, counsel for the Federal Reserve Board advised…