Pursell v. First American National Bank

OPINION

ANDERSON, Justice.

We granted this appeal to determine whether the actions of a bank following repossession of collateral for a loan form the basis for an action under the Tennessee Consumer Protection Act, Tenn.Code Ann. § 47-18-101, et seq. The trial court granted the defendants’ motion to dismiss for failure to state a claim, and the Court of Appeals affirmed, concluding that the bank’s actions did not constitute a violation of the Consumer Protection Act because they did not affect the conduct of any “trade or commerce,” as those terms are defined in the statute. 1

After a careful…