Hummel v. Hall, No. 6:2011cv00012 - Document 15 (W.D. Va. 2012)

Court Description: MEMORANDUM OPINION. Signed by Judge Norman K. Moon on June 19, 2012. (sfc)
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CLERK: OFFI U. NBX O UV CE B. . <ATL < '. . YNCHB URQ V A . I THE U NI N TED STATES DI STRI COURT CT ' ; pjuo . > k FoR THE W ESTERN D I STRI OF V I NI CT RGI A LYNCHBURG D I SI VI ON J 1! 2 1 UN 02 J. .' 3) - iRK I . BY'L ; t. tLb - CLY i ' . DEPU CAS NO.6: 1 c 0001 E 1 - v2 MI CHAEL J.HUMM EL, Plit f an f M EM ORAN DUM OPI ON NI D AVI W . D HALL,TA COUNTRY M OTOR SALES / , Dee d n. fn a t J UDGE N ORM AN K . OON M Thi matr i b fr t e Co r o a moi n fr dea l j dg n fld b Plitf s te s eo e h ut n to o fut u me t ie y an if M i ha lHumm e . On M a 2,2011 Pli iffld hi c c e l y , antf ie s ompl i ,as e tng a va i t ofcli ant s ri rey a ms a i tDef nda Da d Hal a 1of whi h r a e t De e nts s l ofa ve ce t Pl i if gans e nt vi l, 1 c elt o f nda ' a e hi l o antf. On J y 6,2011 De e ul , f ndantwaspe s ly s ve wih t s r onal er d t he umm ons a hi busne s Co r t s i s , unty M o or Sal ,whih i a us d ca de e s p i Lync t es c s e r alr hi n hbur Vig ni The s g, r i a. umm ons wa ne r d D e e nt t t i he di not r s f nda ha f d e pond t t c pl i t s a l tons w ihi t e yo he om a n ' lega i t n w nt one da , ys j d me tb d futwo l b e trd a an th m f rt er le d ma d d b Plitf i te u g n y ea l ud e n ee g i s i o h eif e n e y anif n h c pl nt om ai . Afe f ii t a a ,plad,orohe wiede e agans t a to De enda ' deful tr alng o ppe r e t r s f nd i t he c i n, f nts a t w a e e e by t Cl r oft Co to Aug t31 2011. A c r ii d c oft Cl r senty s nt r d he e k he ur n us , e tt e opy he e k' r ofde a tw asm a l d t D e enda . Subs que l , on M a c 13,201 Pli tf fld t i t n f ul ie o f nt e nty rh 2, a n if ie he nsa t mo inf rd fut u g n a d maldac p t Dee d n .Dee d n dd n trs o dt te to o ea lj d me t n i e o y o fn a t f n a t i o e p n o h moton,a he di nota ara t he rng 1c i nd d ppe t he a i onduc e o Pl ntf smoton on M a 2 , 2012. t d n ai if i y 4 To da e,De en nthas s ilnote e ed a a t f da tl nt r n ppea a e i t sm a t . Fo t r s t tf l w , r nc n hi ter r he ea ons ha olo lwilga Pli ipsmoton f dea tj l rnt antf i or ful udgme t n. L BACKGROUND A s a l ed i t c pl nt t f c s of t s c s a e a f l s l J y 201 Pl i if leg n he om ai , he a t hi a e r s olow . n ul 0, a ntf pur ha e a 1 c s d 991 H onda A c or f om County M ot Sal . H ow e r i Aug t20 l t c r c d r r or es ve , n us 0, he a br down. Pli ifc a t d Defnda t i o hi a oke a ntf ont c e e nt o nf nn m boutt c toubl a whih tm e he ar r e, t c i De e ntsaedt the ha a 1 Ho Ac or a hi hom et tPl i ifcoul pur s . On f nda t t ha d 992 nda c d t s ha antf d cha e Se e r6,201 Pli tf t pos e son oft 1 Ac d,a on Se e be 1 201 pt mbe 0, a n if ook s s i he 992 cor nd pt m r 0, 0, Pl i ifwe t County M ot r Sa e t sgn a buye ' or . The t a prc oft c rwas antf nt o r o ls o i rs der otl i e he a $4 500. Pli ifal ge t tno ot rdoc e ai f rpur ha e o fnancng waspr e t d t 1 a ntf le s ha he um ntton o c s ri i es n e o o sgne by hi . Furher Pl ntf c e t the a De e ntdi notag e on a i e es r i d m t , ai if ontnds ha nd f nda d re n ntr t r t f t pu c e oft ca . a e or he r has he r I Oct r 201 Pl ntf be n maki mont y pa e s i t a oun of $ 0, n obe 0, ai if ga ng hl ym nt n he m t 25 pur tdl ast pa tesha dic s d. Pl n ifa lgest tCot r M ot rSa e r t i d t pore y he ri d s us e aitf le ha mty o l s e ane he c ' tte a pl c d a le on i wih t Vigi a De rm e ofM ot Ve c e . Ats e ars il nd a e in t t he r ni pa t nt or hil s om uns c fe poi t i tm e,Pl ntf l ke a t r ce pt t t he ha r ce ve f o D e e nt pe ii d n n i ai if oo d t he e i s ha d e i d rm f nda a no ied t t t t a ba a e owe wa lse as $6, nd tc ha he ot l l nc d s it d 000. The ea tr Pl n if be n r fe , aitf ga i rng abou t r s f t hi baa . On Dec mber2,201 Def nda ga Pli tf nquii t he ea on or he gh lnce e 0, e nt ve a n if t y lo c r o c p o arti isal n slsc nr c (1 S ' b ai o l tesg au e he elw ab n o y f eal n tlme t ae o ta t C C' e rng n y h in tr RI ) of De e nt a a da e of Se e be 1 201 Pl ntf m ai ai t tpr or t D e e be 2, f nda nd t pt m r 0, 0. ai i f nt ns ha i o c m r 201 he ha ne s n t RI 0, d ver ee he SC. A c or ng t Pl i if Def nda w a c gi 28% ann l c di o a ntf , e nt s har ng ua i e e to t pur has oft c . Be w e n O d obe 201 a Se e be 2011,Pl i ifpa d a nt r s n he c e he ar t e r 0 nd pt m r a ntf i t alof$3, t De e ntf t ca . ot 000 o f nda or he r 'The ba eprc oft 199 Honda Acc d wa $3 400 wih a$500 al nce f t tade-i oft l 1Honda s ie he 2 or s t lowa or he r n he 99 Acc d,o whih Pl ntf silowed$l, or n c ai if tl 600. On t ba i of t f e ng f c s Pl i if as e t t t Def nda f l t pr de he ss he or goi a t , antf s rs ha e nt aied o ovi rquiiedicos e i vi ai oft Tr hi Le ngAc C( LA' ,1 U. C. 1 e s q. e st s l urs n olton he ut n ndi t Tl ' 5 S. j 601 t e , ) a t tDef ntcha ge a us i i e es r e i vi a i ofVigi a lw. Pl i ifs ks nd ha enda r d urous ntr t at n olton r ni a antf ee $5, 23 i da 070. n mage as wel as a or de a i De e nts s urt i er s i t c r s l n der clrng f nda ' ec iy nt e t n he a ivai Fi l Pl ntf r quessa or rcomm a ng De e ntt r e e t len on t tte n ld. naly, ai if e t n de ndi f nda o elas he i he il t t ve ce,t gi t tte ba k t Pl i if a t r um a ke t t ve cl t t o he hi l o ve he il c o antf, nd o et ny ys o he hi e ha De e nti hol ng. f nda s di IL LEGAL STANDARD ik e 55 of t Fede a Rul of Ci l Pr e e a ho i s t e r o a de a t t ul l he r l es vi oc dur ut rze he nty f f ul j d me twhe ad fn a tfis1o p e d o oh r s d fn i a c r a ewiht eRu e . ug n n e e d n al t la r te wie e e d' n c o d nc t h ls' ' Unie St e v.Mor ,67? F. 725,727 (t Ci. 1 . The Clr of t Cour' td ats adi 2d 4h r 982) ek he ts i e l ut y e r ofdeful ptrua t Fe a Rul ofCi lPr e e 55()pr desnotc ntroc or nty a t zs nt o derl e vi oc dur a ovi ie t ted futn pa t pro t t ee ty o d fulj dg n b t ec u t Ca b n Fu lCo v o h e a lig ry ir o h n r f ea t u me t y h o r. r o e . . 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Upon de a t t pl i ifs f t alegai ns a e a ce e a tue f al pu pos , f ul, he antf ' acual l to r c pt d s r or 1 r es e udi t deemi tonofdnmag .SeeRyanv Ho comi Fi Ne wor 253F.d 778, xcl ng he tr nai es . me ngs n. t k 3 7 0 ( t Ci. 01 (i t nso te l s e as F d R.Ci P. ( )6 (An alg to - ote 8 4h r 20 ) ct i mi d ; e lo e . ao t v. 8 b ( ) C le ain - h r t t n oner l tng t t amou ofda ges i a ted i a r s ha e a i o he nt ma - s dmit f e ponsve pl a ng i r r d and i e di s equie t ale toni notde e ' .Alho ht clarpolc oft Fe a Rul ofCi lPr ed e he lgai s nid.) t ug he e ' iy he derl es vi oc ur i t e c u a ed s o iin o camso t ermeis t ee r o dea lj d me ti c mmi e s o n o r g ip sto s f li n h i rt,h nty f f ut u g n s o t d t t t d srto o tetilc u t e Mo a , 7 F.da 7 (ii Rez ksv Lo 49 F.d o he icein f h ra o r.S e r di6 ? 2 t 27 ctng ia i . y, 0 2 1 3 ,1 3 ( t Ci.1 7 ) l r ve ngmo in f rdea lj d me , o rsh v r fre t 1 2 1 5 4h r 9 4). n e iwi to s o fut u g nt c u t a e ee rd o t f l ng f t s: he olowi ac or (1 whehe t r i a lr a unt of mone i ve i t ltgai ,() ) t r he e s age mo y nvol d n he ii ton' 2 wh t r te e a e mae il is e o fc i t e c s n e ig r s lto ; () ehe h r r tra su s f a t n h a e e dn e ou in 3 wh t rt e c s iv v s is e o g e tp bl i o tn e ( ) wh t r te ehe h a e n ole su s f ra u i mp ra c ; 4 ehe h c g o n sf rt emoi n f rad fut u g n a eh g l tcmia;( )wh t e r u d o h to o ea lj d me t r i hy e l c l 5 eh r t ep ry a kng f radea l j d me th sb e p eu ie by t no mo ig h at si o fut u g n a e n rj d c d he n- vn pary' a tonsoromisons ( whehe t a tonsoromiso gi ng rs t t s ci s i ' 6) t r he ci , sins vi ie o t emo inf rad fulj g n aeters lo ag o -at mitk o t ep r h to o ea tud me t r h e ut f o d fih sa e n h a t oft non- ng pary;( whehe t a tonsoromisonsgi ng rs t t he movi t 7) t r he ci si vi ie o he moin frad f ut u g n a eter s lo e u a l ne lc o t p r o te to o ea lj d me t r h e ut f xc s b e g e t n he a t f h n n mo n p ry;a d ( )wh te t eg o nd o fr d f rtee ty o a d fut o - vig a t n 8 eh r h ru s fe e o h nr f e a l j d me taece rye tb ihe . u g n r lal sa ls d Faul e v.He iageFi Cor ,1 U. Dit LEXI 1 48,a *11 ( . Va.M a 20, knir rt n. p. 991 S. s. S 57 t -12 W D. y 1 91 ( tng 1 C.W rght A.Mil & M .Ka ,Fe r Prcieand Pr edur jj2684 9 ) cii 0 i , ler ne deal a tc oc e -85 ( 990) 1 ). 1 D l l oN 11. sclssl As Ipr vi usy not d,De e ntha c e o l e f nda s ompl t y f ie t pa tepa e i t s ltgai n. eel al d o rii t n hi ii to The goundsofe e by Pl ntf f t e r ofdea tj r fr d ai if or he nty ful udgmen ae cla l esa ihed,a t r e ry tbls nd De e a ' f iur t de e t s ac i n doe nota a t be t r ul ofe us bl negl c or f nd nts a l e o f nd hi to s ppe r o he es t xc a e et a g f t mit ke on hi pa t The gr ny ood-aih sa s r. oundsf Pli tf smoton a eno hi y t c ca , or a n if i r t ghl e hni l a i i ce t tPl ntf hasbee prj ce by Defnda ' a tons Alhought a nd t s lar ha ai if n eudi d e nts ci . t he mountof m o y i ve i t s ltga i i noti ons ental i i c ti y not s lr a t be ne nvol d n hi ii ton s nc equ i , t s era nl o a ge s o r ma ka e. Be a e oft s f t r ,and i lg ofDe enda ' dir ga d ofPli ifsc am s e r bl c us he e ac o s n i ht f nts s e r antf l i , d futj d me ti Plitf' fv ri war ne Ac o dn l ,lp oc e t a a ay i o ea l u g n n anifs a o s ra td. c r ig y r e d o n n l ss f Pl n ifse ilm e t t va i usf m sofr i he s ks aitf ' ntte nt o he ro or elef ee . A .D am ages t cc pt d r , s s es m nt he W hie Pl i i f s f ct a r e s m us be a e e as t ue hi a s s e of t l a ntf ' a ual ve m nt d ma e t whc h i e tte n e n tb . Assae i hi mo in f r d futj d me t a g s o ih e s n ild e d o e ttd n s to o ea l u g n , Pl i ifs e $5, 23 i t a da es i l ng $2, i sa u or da a unde TI antf e ks 070. n ot l mag , nc udi 000 n t t t y m ges r LA and $3, 23 i da 070. n mage unde Vigi aus y lw .1wile m i t e cai si t n. s r r ni ur a l xa ne hes l m n ur 1. mac unde TI Da es r LA Congr s e c e TI i o der t pr m ot t i or es na t d LA n r o o e he nf med us of c e t 1 U. C. e r di. 5 S. j1 () l e t pur eofTI i: 601a. nde d,he pos LA s t as u e a m e ni uldi c os e ofc e tt r s s t tt c um e w ilbe a e o sr a ngf s l ur r di e m o ha he ons r l bl t c pa e m or r diy t va i c edi t nnsaval bl t hi a a d t o om r e ea l he rous r t e ia e o m nd voi he uni onned us of c e t a t pr t c t c um e aga ns i c a e a nf e r di, nd o o e t he ons r i t na cur t nd unf i c e tbilng a c e tc r pr tc . ar r di li nd r di a d aci es 1 As a m e ns of e f t i t e e ,TI r quies c e t s w ho e d. a f ec uatng hes nds LA e r r dior ngage i c os d- nd n l e e c um e cr di t a ac i t di c os a l ls of ie s2 s e 1 U. C.j 1 () a ons r e t r ns tons o s l e ong i t t m , e 5 S. 638a , nd, 2é os - nd cedi me cons rc edi ot t t n- cr t . . . .' 1 C. R. 2 6.()1 ) Op ne d t ed e r t ans cl ume r t her han ope end edi' ' 2 F. j 2 2a(0 . e -n c e ti dei asc ume cedi exende byac e t u rapln i whih: r di s tned ons r r t t d r dior nde a n c () c e i rr a o a l c t mpltsr p ae ta s c ins i The r dt e s n by one a e e e td r n a t ; o o (i Th c e io ma i o e a fn n e c a g fo tme t tme o a ousa ig u p i i e r d t r y mp s ia c h n e r m i o i n n ttndn n a d ) bal e;a anc nd (i)Th a u to ce tha ma bee tn e t tec n u rdli tetr o tepln(pt i e mo n f rdit t y xe d d o h o s me t ng h em f h a u o i r a ylmist ytece tr i g n rl ma ea albl t t e tn ta a yo ttndn b ln e n i t e b h rdi ) s e eal d v i e o he xe t h t n usa ig aa c o y a i r pai s e d. 1ij2 62 a( 0 . t 2 .()2 ) nda es ha hey o f e he r di s unl s o he i e s ii aly pr de TI ma t t t t do s be or t c e t i es t m s pecfc l ovi d, LA e e d,i j 1 b) s alo 1 C. R.j 226.7( (ç c e t s l ma dicos r s xtnde d. 638( , ee s 2 F. ' 1 b) $ The r dior hal ke s l u e beor c ummaton oft ta a ton.) f e ons i he rns ci ' . ' l t c e a ha Pli if a lge t t Def nda f l d t dic os t a n he as t nd, antf le s ha e nt aie o s l e he moun t fna e 1 U. C.j 1 a( ( ,t tna c r i j 1638()3) t a lpec ntge i nc d, 5 S. 638()2)A) he i nce hage,d. a( ,he mma re a rt i j 1 ()4) t t a of pa nt, ae, d. 638a ( , he otl yme s 1 a( ) t pa nt s he e i 638()5 , he yme c dul, d. j 1 3 ( )6 , and any applcabl lt fe i.j l 8a ( 0 . Ac o dn l ,Plitf camst a 6 8a ( ) i e ae e , d 63 ( )1 )3 c r ig y anif li h t Dee d n voae TI a d tu t a Dee d n i s b e tt sauo y d ma e pu s a tt fn a t iltd LA, n h s h t fn a t s u j c o tt tr a g s ru n o TI ' cvila lt pr son, chi f a l U. C.j 1 a( . LA s i libiiy ovii whi s ound t 5 S. 640( )2)4 A ce io who fist c mpy wih c ran rq ie nsi o e by 1 U. C.j1 3 rdt r al o o l t e ti e u rme t mp s d 5 S. 68 i,i a i vi laci n,la ef twi t a s n n ndi dua to i bl or s ce he mountofa fnanc c r i c me ton wih t ny i e ha ge n ol c i t te ta scin. 1 U. C.j 1 4 ()2 ( () Ho ve,te Su e Co r o te Untd h r n a t ' 5 S. o ' 6 0 a( )A)i. we r h prme u t f h i e S ae h sh l t a t c p o sau oy d ma e fu d i 1 U. C.j1 4 ( )2)A)i)a pl s tts a ed h t he a n tttr a g s o n n 5 S. 6 0 a ( ( (i p i e t rc v re u e j1 4 ( )2 ( () Ko n Buc Po ta GM C,I c v Ni ,5 3 U. 5 , o e o eis nd r 6 0 a ( )A)i. o s ik n ic n . . gh 4 S. 0 3S auor da a ar nota lbl w ih rs tt t lt f dicl u e. TI sa e t : t tt y m ges e vaia e t e pec o he ae ee s os r LA tt s hat l c n eto wi tedslsr srfre t i scin 1 3 o t st l,ace trs l .. (e n o n cin t h ico ue eerd o n eto 6 8 f hi ie rdi hal . b h t o l bl frsauo yd ma e )o l frfiigt c mpl wihterq rme t . . fp rg a h() i e o tttr a g s ny o al o o y t h e uie ns . o aa rp 2 a n (noa a irq ie adslsr o tetmo n fnn e',() () () () o ()o scin isfr s t e urs icoue f h t u t iacd' 3,4,5,6, r 9 f eto a ) 1 8a o t stte. . 63 () fhi l . . l 1 U. C. 1 4 () Ab e tfo ti ls i p rga h(0 , iha de ssa ya pl a l lt fe (l i a c rs 5 S. j 6 0a . sn rm hs it s aa rp 1 ) whc d rse n p i be ae e . t- s c od c -h wi Co ge ssd sr t tar w ace trscvll blyfrsauoyp n list o l t s dsls rt)whc t n rs' e ie o n ro rdi ' ii i ii o tttr e ate o ny ho e ico ues ih h o a t a eofc nta i r e r l mpora i u rt nga cedi ta a ton' c t ort m s' I r Fe rel 539 F. 11 6,1 91 tnce n nde sandi r t rns ci s oss er .' n e r l, 3d 8 1 (t Ci. 0 8 (u tn S Re No 9 7 ,a 7( 9 9,rprne i 1 0 U. C. A. 2 0 28 )(leain i 9h r 2 0 ) q oig . p. . 6-3 t 1 7 ) e itd n 98 S. C. N. 8 , 5 atrto n oii l. Whl Plitf cn o rc vrsauoy dma sfrDee atsp r re fiuet dsls ay rgna) ie anif a nt eo e tttr a je o fndn' upotd alr o icoe n a ia elt f ,t ha m c e byD eenda ' ot f l est dicl e i com pe abl pplc bl ae ee he r aus d f nts her alur o s os s ns e. 4:A crdiors f l e t dicl e a of t i or to r r d t be dicl ed i c $ e t ' aiur o s os ny he nf main equie o s os n onneci wih a sngl ton t i e a ounthoweve ,e il t borowe t asngl r c y o y. Twe d v.BCAM Til Loans LLC,611F.Supp. cc , r nttes he r r o i e e over nl ' ' ey te , 2 6 3, 0 ( . Va 2 0 )(in 1 U. C. 1 40g)s eas Tn ma v MoieBe e il n Co, 3lF.d d 0 6 6 W D. , 0 9 ct g 5 S. j 6 ( ), e lo is n . ln nfca Fi. .5 2 i ' 81 , 1 n9(t Ci.17 (oigta telgsaiehsoyo TI ûn iae ta o y asn l rc v r wa 5 8 9 . 7h r 9 6) n tn h t h e ilt itr f LA t dc ts h t nl ige e o ey s v i itn e u d rta Ac.) Th s Plitf i o l e t ldt o erc vey frt mutpe dslsr volto s ne d d n e h t t'. u , anif s ny nie o n e o r o he lil icou e i ain ' t a s red. set 6 5 - 0 ( 0 4 . Th c nr lis e wi rs e tt Plitf' cam f rd ma e u d rTI i 9 6 2 0 ) e e ta su t e p c o anifs li o a g s n e LA s h whehe t a ia eca i $1000 or$ 000. t r he pplc bl p s , 2, l 201 Congr s pa s d t D odd- n W a l St e tRef m a Cons e Pr ec i n 0, es s e he Fr nk l re or nd um r ot ton Ac (het tt t Dodd- ank Ac' ,Pub.L.No.111203,1 Stt 1376 ( 0) I Til X1 oft Fr t' ) 24 a. 201 . n te V he Ac ,whih i known a t M orgag Re or a Ant- e t y Lendi Ac ,Co r s ,i er t c s s he t e f m nd ipr da or ng t ng e s nt ala, i r as d t c lng i TI ' c vi labiiy pr son fom $1000 t $ 0 i nc e e he eii n LA S i l i lt ovii r , o 2,00. j 1 1 a(1( ,1 St .a 21 4 6() )B) 24 at t 53.Ac or ngl Pli ifseks$2, i saut y da gesfr c di y, antf e 000 n tt ol ma o De e ntsTI vi atonss f nda ' LA ol i . H ow e r Pl i if s e il m e t t s d ag a ve , a ntf ntte nt o hi am es mount de nds on wha da e t pe t t he a or m e toned i r as i co i r d t ha t ke e f t Pli ifa s rt t tt i r a e i f e ni nc e e s nsde e o ve a n fec . a ntf s e s ha he nc e s n TI ' cvi la lt pr son t k e f to J y 22,201 a t be o ePl ntf sp c s LA S i l ibiiy ovi i oo fec n ul 0, nd hus f r ai if ur ha e of t 1 he 992 Ho nda Ac or i Se e be 201 Thi is c d n ptm r 0. s s ue t t i,de i rng t da e on ha s c phe i he t whc t eice s i TI Ssau o yd ma e c p b c me( rb c me )efci - a p ast ih h n ra e n LA' ttt r a g s a e a o e o s fe t ve p e r o be one of trt i es i i s mpr son. l e i has no be n a es e by a oft c t wihi t nde d, t t e ddr s d ny he ours t n he Fo t Cic t a a urh r ui, nd ppea snott ha b n s ua ey co r nt d by a cours na i de. r o ve ee q r l nfo e ny t, tonwi Se ton 4 oft Dodd- a Ac sa e S e a o he wie s c fcal pr de i t s ci he Fr nk t tt s:d pt s t r s pe ii ly ovi d n hi Exc Ac o t a e ent m a by t s A c ,t s A c a s h a e t r he m ndm s de hi t hi t nd uc m ndm e s s lt ke ef e t 1 da nt hal a fc y a trt dae ofe cme t o t s Ad. j 4,1 Stt a 1 fe he t na t n f hi ' ' 24 a. t 390. The Dodd- a Ac wa Frnk t s e c e whe i w a s g na t d n t s i ned by Pr i nt O ba a on J y 21 201 Thus, exc ptas o he wie esde m ul , 0. e t r s s ci c l pr ded, t e f c i da e f r t Dodd- a Ac i J y 22, 201 pe t aly ovi i he fe tve t o he Fr nk t s ul 0. 5Re r es ofwhehe t applc bl ca on saut y da gesf Pli ifsTI cai i $1000 or$2, ga dl s t r he ia e p tt or ma or antf' LA l ms s , 000, t e i no diput t t c lng a i . The tna c ge a t aly pai by Pl ntf, ac di t a o tz ton her s s e hat he eii pples i nce har c u l d ai if cor ng o m riai tbe h h satc e a a e hi tt hsmoinfrd fut u g ntwa $10 3. .Th s tefn n ec ag t a ls e a ta h d s n x bi o i to o ea lj d me , s ,2 41 u ,h ia c h r e o bepai woul ha be n eve gr tr And ye t cet fna e c r acualy pad cl ry woul e ed$2,000. d d ve e n eae . t wi he i nc ha ge t l i ea l d xce Theef e,wih r s tt satt y da ag unde TI , t is i smpl whih celng a ounta is t r or t e pec o t uor m es r LA he sue s i y c ii m pple ' he , fnanc c r i notr lvanq be us i i t l gef Pli ift r cove t c isa ountunde et rca . i e ha ge s ee ca e t s oo ar or antf o e r wie t m r ihe p Cores r pondi y, t onl way t t t i r s i TI ' c vi la lt ca woul ha a ngl he y ha he nc ea e n LA S i l i biiy p d ve dif r ntef e tve da e w oul b i Cong es pr de o e s w her i t Act fe e fci t d ef r s ovi d ne l e e n he . Til X1 of t Dodd- ank Ac begi wih s c i 1 te V he Fr t ns t e ton 400,whi h,i pe t ntpa t c n ri ne r, st es2 at ()REGULATI c ONS; EFFECTI DATE. VE ( )REGULATI - TIe r ultons rquie t be pr c i d unde 1 ONS. A eg ai e r d o esrbe r t stte ort a e e sm a by t stte s lhi il he m ndm nt de hi il ha l ( be pr ci i fna f beor t e oft l8monh A) es rbed n i l onn f e he nd he - t pe i beg l i on t de i t d ta f rda e; rod im ng he sgna e r nse t and ( tke efc notlt t n 1 monhsa trt daeofis nc B) a fe t aer ha 2 t fe he t sua e oft r gul to i tna f he e a i ns n i l onn. ( )EFFECTI DATE ES 2 VE TABLI SHED BY RULE. Ex e ta p o ie - c p s r vd d i paag a ( ,a s ci orpr so t r of oft stte s ltke n r r ph 3) e ton, oviin he e , hi il hal a efec on t da e on whi h t fna r ul tons i pl m e i s h f t he t c he i l eg a i m e ntng uc s c i o pr vi i t e f t e ton, r o s on, ake f ec . ( ) EFFECTI DATE. A sci oft s tte f whih r ultons 3 VE - e ton hi il or c eg ai have not be i s on t da e t t i 18 m o hs a t t des g t d en s ued he t ha s nt fer he i na e t a f rda e s l t ef e ton s h da e. r ns e t ha l ake f c uc t 1 c, 1 Stt a 2136. Undert Dodd- a Act lrnse dae'me ns t dae 400() 24 a. t he Fr nk , s a fr t' a he t t e tbl h d u d rs cin 31 , e j 2 1 ) 1 4 Sa.a 1 9 ,a d s cin 31 sae ta u e s sa i e n e e to 1 s e ( 7 , 2 tt t 3 0 n e to 1 tts h t nls s ot r s pr de t t a f rda e m ea ç he da e t ti 1 ye r a t rt da e ofe c m e of he wi e ovi d, he r ns e t ns ' t t ha s a f e he t na t nt t sAc, j 311a,1 Stt a 1 hi t' ' () 24 a. t 520.Theef e t desgnaed ta f daei J y 21 2011 r or, he i t rnser t s ul , , s e De in td Tr n frDae 7 Fe Re 5 25 ( e t 2 2 0 ,a d t e d ly d e fcie e sg ae a se t , 5 d. g. 7 2 S p . 0, 01 ) n h ea e fe tv daerfrnc d a t eee e bove i sci 1 c( i eght n mont ltron J r 21 201 The n e ton 400()3) s i ee hs ae anuay , 3. que ton be m e whehe t s delye efe tve da e a i t a 1of t s c i c ai d si co s t r hi a d fci t pples o l he e tons ont ne wihi Til XI of t Dodd- a Ac ,i l ng s c i 1 6, t ope a i s to t t t n te V he Fr nk t ncudi e ton 41 he r tve ec i n ha i r as t c p i TI ' cvi la lt pr vii fom $1000 t $2, nc e es he a n LA S i l ibiiy o son r , o 000. A s Ipr vi l m e i d,t s pr ci e quesi doe not a e ous y ntone hi e s ton s ppea t ha be n r ol r o ve e es ved by a o he c t t da e. H ow e r 1 a not wr tng on a c pl t y bl nk s a e. O f ny t r our s o t ve , m ii om e el a lt 8 pa tc arr l va t t que ton pr e e by t i t ntm a tri t diti tc tsOpi on riul e e nce o he s i es nt d he nsa te s he src our' ni i Wilamsv Wel Far BankN A. No.1121 CI 2011W L 4368 ( D.Fl Se . n li . ls go , - 233- V, 980 S. a. pt 1 2011. l Wilams t pli if br hts tagans W els Fago f vi ai s to 9, ) n li , he antfs oug ui i t l r or oltng ecin 2 0 4 o teRe lEsaeSete n a d Pr c d r Ac ($ PA' ,1 U. C.j2 01e s q 6 5m) f h a tt tlme t n o e u e t û RES ' 2 S. ) 6 t e. 1 . t* S cin26 5m) whihwa e ce b s cin 1 6 o t Do d Frn Ac, eae t d a 4. e to 0 ( , c s na td y e to 4 3 f he d - a k t rlts o c r es i ha g mpos d i c m e ton wih f c - a ed i u anc I a *4 e n or ci t or e pl c ns r e. d t -5. The pli if a ntfs c e d t tt a ndmenst RESPA e ce by s ton 1 i udi sci 2605( , ontnde ha he me t o na td eci 463, ncl ng e ton m) w e e gove ne by t é f ec i da e' of t D odd- a Ac is l , and t r o e be a e r r d he t f tve t ' e he Fr nk t t e f he ef r cm e f tve on J y 22,201 I l s a gui t pl ntf i Wilams,lke Pli tf i t c e feci ul 0. d n o r ng, he ai if n li i a n if n he as a ha manti t ts ci 1 c onl a ist t es tonswihi Til Xl t tc l t nd, i aned ha e ton 400() y pple o hos eci t n te V ha al f t pr gain ofi e ntngr gultons f a * And be us s ton2605( does or he omul to mplme i e ai . #. t 5. ca e eci m) notr uiet i e ntton ofa rgultons t plitfsase td t tsci 1 c i eq r he mplme ai ny e ai ,he anif s re ha e ton 400() s i a pia l t i.1 . Ho ve, el Fa g ag e t a s cin 1 0 ( )o t eDo d Frr Ac n p l be o t d we r W ls r o r u d h t e to 4 0 c f h d - al t c k st f t adifrntef tvedae a ia et s ton 1 (nd t eor s ci 2605( ) es orh fee feci t pplc bl o eci 463 a herf e e ton m). I Ba e o isradi ofs ton 1 c) W elsFa gomanti t tatt tmeoft s t d s d n t e ng eci 400( , l r i aned ha he i he ui, s ci 2605( ofRESPA ha notyetbe e ton m) d comeefeci bec us t deaye efe tvedaeof f tve a e he l d fci t J mmm' 21 201 whi h W el Fa g m ant i wasa ia e, d notye pa s d.I . y , 3, c ls r o i aned pplc bl ha t se d Uli ael t c ta e wih W el Fa go. tm t y, he our gr ed t ls r l e ani how i r d s c i n xpl i ng t ea e ton 1 Q, t c t frt obs ve t t t pli lnguage 400( he our is er d ha he an a s ton 1 c)s tte, eci 400( ' il C I REGULATI ONS; EFFECTI DATE, id c ts t t s di n 1 0 c a d e ss boh VE ' n iae ha e o 4 0() d r se t ' r gul tons and e f c i da es 1 a *6. l t s ve n, t c tnot d t tCongr ssus ofa e ai f e tve t . d. t n hi i he our e ha es ' e s i on,as oppos t a col , i c t t tCEFFECTI E D A TE' i no a s a e r o em col ed o on ndi a es ha S V ' s t ubc t go y f C t REGU LA TI S.' I ç sa r ul,' he c tc l d,ç pl n r di oft tte i ca e ON ' d ç A es t' t our onc ude $ ai ea ng he il ndi t s a . t a s cin 1 0 ()a d e s sb t t erg lto rq ie t bei e n e u d rTil X1 h t e t 4 0 c d r se o h h e uains e urd o mplme td n e t V o e a t e f c i da e f a1 oft s to unde Til XI ,a not... yt e f c i dae nd he fe tve t s or 1 he eci ns r te V nd onl he fe tve t s oft e s tonsoft Til t tc lf r ul tons' f Thus e n t hos ec i he te ha al or eg a i . #. ' , ve hough s ton 1 oft ec i 463 he Dod FrnkAc, che ceds ton2605( ofRESPA,doesnotrquiet i e ntton d- a twhi na t eci m) e r he mplme ai of rgulto ,t co t f e ains he ur ound t t ki sil fls wihi t s pe of s ci 1 c) a ha tt tl al t n he co e ton 400( nd cons que l , doesnotbe om ee f tveuntl1 mont afe t desg t d tanserdae. g 6 e nty , c fec i i 8 hs tr he i na e r f t, g 1dec i t a lne o doptt Wilams cou tsl gi i ise iey;howe r f t r as t t he li r ' o c n t ntr t ve , or he e ons ha f l 1age t ts ton 1 c a i t al sci ofTil XI oft Dodd- a Ac. olow, re ha eci 400() pples o l e tons te V he Frnk t As a r s t l c l , c r y t Pl i ifs c en i t t s c i 1 6 di not be ome e ul, onc ude ontar o antf ont ton, ha e ton 41 d c e f c i on J y 22,201 a t e or t tt r l va ca on s a ut y da age unde TI f e tve ul 0, nd her f e ha he e e nt p t t or m s r LA a t tm ehepur ha ed t 1 HondaAcc d wa $1000. t he i c s he 992 or s , i Te ofSe ton 1 c . xt c i 400( ) Cl ry, de e m i ng t e f c i da e of s c i 1 6 hi ea l t r ni he f e tve t e ton 41 nges o t i e pr t to of n he nt r e a i n s ci 1 c( ,pr vi ng t t çA s ci oft sttef whih r ai ha notbe n e ton 400()3) o di ha :1 e ton hi il or c egultons ve e is d on t dae t ti 1 m on hs a tr t desg t d ta f rdae s l tke e f c on s h s ue he t ha s 8 t fe he i na e r ns e t ha l a f e t uc da e. l i we lesa ihe t ti i e pr tng a sa u e,t frti r t ta r viwi c t t ' t s l t bls d ha n ntr ei ' t t t he is nquiy ha e e ng our . m us unde t ke i G o de e m i w he he t l ng t ra s û t t r ne t r he a uage a i s ha a pl i a una bi t s ue s a n nd m guous m e ni wih r ga d t t pari a di put i t c e. Robi s v She lO i Co. 51 U . a ng t e r o he tcul r s e n he as ' ' n on . l l , 9 S. 337,340( 9974 Ofc ls Cft sautr lng 1 . otre,t he tt oy a uagei una g i s mbiuousa Ehesat or s he nd t t ut y c me 6Bre l , In t ta i as re o c ssal e ie b tesmejd ,h dsrc c u tfrteWetr Ditito ify oe h t n eis f a e 1d cd d y h a u ge te itit o r o h sen src f W as ngt a g y i id t t Dodd- a Ac ' Til Xl amendme ofa difr ntpr son ofRESPA , hi on r uabl mple hat he Fr nk ts te V nt fe e ovii scin26 ()1( ,to efc o te Ac' efcie d t. Se Mc n d v One s Ba k FS No C1 eto 05e()A) o k fe t n h ts fe tv ae e Do al . We t n , B, . 0 1 5 RS 201 WL 5 51 ,a * ( . Wah.Fe 21 201 .Mooe v Fe Na 'Mo t.As ',No Cl 9 2 L, 2 5 47 t 2 W D. s b. , 2) , r . d t1 rg sn . 1 1 4 RS 2 1 WL 4 45 3 a * ( . Wa h F b 9 2 2 , niv Ba ko 2 2 L, 0 2 2 8 , t 3 W D. s . e . , 01 ) Ami . n fAm.Cop.No C1 -9 4 L, . r , . 10 7 RS 201 WL 3 8 3 , t* ( . Wah. e 7 2 2 .Ho v r tec uti teec ssddn te pl iy saet t 2 9 6 6 a 3 W D. s F b. , 01 ) we e,h o r n h s ae i o x i t tt ha cl t a e e had ale y t ke e f t a t c tdi no p ovi a a l i or r i e r ltd t is he m ndm nt r ad a n f ec , nd he our d t r de ny nayss atonals eae o t i e prtton of t efeci da e l poi t s ca e out smpl t a knowldge t t t Wilams co ts ntr ea i he f tve t . nt he e s s i y o c e ha he li ur' itr rtto o scin 1 0 ()3 mih n tej yu nmo ssp r. nepeain f e t 4 0c( ) g t o no na i u u pot o 10 i c h rn a d c n itn ,'te iq iy e d tee I ( oig Uni d S ae v Ro Pai s o ee t n o sse t' h n ur n s h r . d qu tn ' t t ts . n r e Entr. I . 489U. 235,240(1 ). Sl pli es ora guiy ofsaut y lnguag i es, nc, S. 989) l- amz s mbi t -he tt or a es dee ne by r f r nc t t l ngua is l,t s cii c e i whih t t lnguage i tnni d e e e e o he a ge t ef he pe fc ont xt n c ha a s u e ,a d t b o d rc n e to t sau ea a wh l. Ro is n 51 U. a 3 (iain s d n he r a e o tx f he ttt s o e' bn o , 9 S. t 41 ctto s ' o te ) l lg t o t e e fco s I tnd t a t e pli lng g o s cin 1 0 ()3 i mi d . n ih f h s a tr, i h t h an a ua e f e to 4 0 c( ) s t am bi guousw ih r s c t w he he t ts c i a i st a 1oft s c i underTil X I . t e pe t o t r ha e ton pple o l he e tons te V S cin 1 0 ()3 c n b ra i o e o t d fee twa s On te o e h n t a e to 4 0 c( ) a e e d n n f wo ifrn y . h n a d, t l g s cton oft stte f whi h r gul i ha notbe n is d'coul be i em r t t m e n $ e i hi il or c e atons ve e s ue ' d nt eed o a : a s ton oft stte f rwhi h r gul i ha notbe n is d,whehe orno t y a e r quie eci hi il o c e atons ve e s ue t r t he r e r d a a1' Unde t tradi ofs ci 1 c () t deaye efci dae pr ci i t t t 1. ' r ha e ng e ton 400()3 , he l d fe tve t esrbed n ha s cin a pl st als cin u d rTi eXI On teo h rh nd ça s cin o ti ttef r e to p i o l e to s n e t V. e l h t e a , l ) e to f h s il o g whih r gultonshave notbee is d' c d be i e pr t d t mea & s ton oft stte f c e ai n sue ' oul nt r e e o n 1 eci a hi il or w hi h r ul tons ha not ye bee i s d,when t y ar r quie ' U nde s h a r di of c eg a i ve t n s ue he e e r d. ' r uc ea ng scin 1 0 ()3 ,t ed lye e fcied t e o id i t ts cin d e no a pl t t s e to 4 0 c( ) h ea d fe tv ae mb de n ha e to o s t p y o ho e s c i unde Til XI lke s c i 1 6,t t do not r quie i pl me i r ulto . e tons r te V, i e ton 41 ha e r m e ntng eg ai ns7 Uli t l not ng i t t xti caest tone i e pr t ton i mor plusbl t n t ot r tma ey, hi n he e ndi t ha ntr e a i s e a i e ha he he . Ac r ngl Ic n c t noconcuso wihrgadt t lnguageofs ton 1 c( ot r codi y, a ome o l in t e r o he a eci 400()3) he t n t ti i am bi ha ha t s guous a t t br adt ofisr c s o he e h t ea h. i.Stu eofSe to 1400( 1a t Re ai hi be we n isSubpa a a i r dur cin c nd he ltons p t e t r cr phs Tors vet sa guiy,1mus l beyondt txtofs ton 1 Q( .Ibe nwih e ol hi mbi t t ook he e eci 400( 3) gi t t sr cur ofs ci 1 c. l Wilams,t co tf he tu t e e ton 400() n li he ur ound gra sgnii nc i Congr ss e t i fca e n es' de s on t s par t E cii o e a e t REGU LA TI S' a S ON ' nd I EFFECTI E DA TE' w ih a s m i on. 2011 W L V ' t e col 1Pl ntf poi soutt ts ver s c i wihi Til X l f rexa pl, s to 1 ai if nt ha e al e tons t n te V o m e ec i ns 403, 1 405, 1 11 1 2, 1 4 , 41 463, 1 11 47 , 472,1 473,and 1 3 con an lng 48 t i a uage die tng apatc a age y t is i em e i r gulto or rci riulr nc o s ue mpl ntng e ains r ls ue . 11 4368 980, a *6. Ac r ng t t cour, ihe s m iol s pe t co di o he t t t e c on us nds t t he hought r ga di e r ng r gultons a be nsa ne t hti ol ng e f c i da e .' I t a r ul ' t co t e ai nd gi w houg nv vi fe tve t s' d t As es t ' he ur c ud ça pli r a ng of t tte i c ts t t s ci 1 c) a ese bot t oncl ed, t an e di he il ndiae ha e ton 400( ddr s s h he r gultons r r d t be i e nt d unde Til X1 a t e f tve da e f a1 oft e ai equie o mpl me e r te V nd he feci t s or 1 he s c i underTil XI and not a Pli if c e onl t efe tve da e oft e s tons e tons te V, , s antfs ontnd, y he f c i t s hos eci of t Til t t c l f r ultons' I W hie t Wllams c tma i ed be c r c , he te ha a l or eg a i .' d l he li our y nde ore t Pl nif i rght t c to agans o reinc o s ton 1 c ' puncuai f ç aitf s i o auin i t verla e n eci 400()s t ton, or C a pur t d pl n- ea ng a l i bas onl o punc ua i i nec s r l i pore ai m ni na ys s ed y n t ton s es a iy ncom pl t and nm s ee ters o d so t g asaue stu me nng' US. t Ba ko Or v I dp.I s Age t o h ik f itri n tt t' r e a i . ' Na 1 n f . . n e n . ns f Am.508U. 439,454 ( 993) ç mor t n ioltd wor ors ntnc i puncuai al , S. 1 .ç No e ha s ae ds e e es s t ton one a r i bl gui f dicove y of a s a ut s m e ni ela e de or s r t t e' a ng. St t or c t uc i $s a hols i a ut y ons r ton i i tc e a r' a nde vo , nd, a a m i m um , m us a co t ni t c unt f a s a ut s f l t xt l ngua a w el as or t t e' ul e , a ge s l p n tain sr cu e a d s b e matr' 1 .a 4 5 (uoi Uni dSa ig As ' o T x v u cu to , tu tr , n u j d te . d t 5 q tng t vn s sn f e . . ' e Tmb r o n o Fo e tAso s,Lt. 4 4 U. 3 ,3 (98 :. Th s whl te Wi ims i es fl wo d r s s c . d, 8 S. 65 71 1 8 u , i h la e l c tspoi r gadi t puncuai ofs di 1 0( ' he di i undoubt ys our' nt e r ng he t ton e on 40 c)s a ng s edl ound,Iwil l notsop my i r t r ,f r doi s nms t rs ofi i ot r eva a i t nquiy he e o ng o he ik gnorng her el nt nd mpora t tn c i r tons ons de a i . Reur ng t s ci 1 c,Iobs r e t tnet r is sr cur nort rltons p t ni o e ton 400() e v ha ihe t tu t e he eai hi be we n iseo tt ntpa t ne es a iy i c t sho i s d be i e pr t d a a i . I t e t nsiue rs e s rl ndi a e w t houl nt r e e nd ppled n Wilams t c t sae t t t s col i s ci 1 c)s hea ng i caed t t li , he our ttd ha he emi on n e ton 400( ' di ndi t ha tEFFECTI E D A TES' i nota s a e r oft V I LATI S .' How e r one ne d notr y S V 's ubc t go y û GU I ON ' ve , e el on Co es ' utlza i of a s m i ol t a ve a t tc us on. I ngr s s ii ton e c on o ni t ha oncl i ndee t ve y s r t r d, he r tuc u e of t s e ton pl i y r ve s t t t ' f ec i da e' s he ubs c i a nl e al ha he û f tve t ' ubpa agr phs t i s i e r a hat s, ectons - 12 1 c( a ( - ae no s ae is oft Se ai ' s paagrph;sr t aly,al 400()2) nd 3) r t ubc tgore he l gultons' ub r a tucur l l r t e s paa a - t ) ( ,a () lne up. Bu t t does notnec srl l d t t hre ub rgrphs l , 2) nd 3- i t ha esa iy ea o he c l i t s ci 1 c)3) whih 1a oncuson hat e ton 400( ( , c cknowldgei r he c iusy bure de p wihi e s at r uzo l id e t n s to 1 ec i n 400,a i s t al ofTil X 1 ' s c i . pple o 1 te V s e tons On mih a g e t a,ha Co g e s itn e f r s cin 1 0 c( ) t a pl t a1 e g t r u h t d n rs ne d d o e to 40 ()3 o p y o 1 s tonsofTil XI i c d have smpl ce td anew s ci ors e in (orexn e eci te V, t oul i y rae e ton ubscto f mpl, s e ton ( )t twoul ha mor ce l a id t t e iey ofTil XI To be s e, ubsci d) ha d ve e lary pple o he ntrt te V. ur doi s w oul ha bee c i t w ih s c i 4 of t D odd- a A c ,w hi h,a t ve y ng o d ve n ons sent t e ton he Fr nk t c t he r b gn i o t eAc,sae t tt ex e ta oh r s s c al p o d d i t i Ac o te e inng f h t tts ha d l c p s t ewie pe 6c l r vie n hs t r h l y n nd e s made by t sAc ,t sAc a s h mne e ss l t ke e f t 1 da afe t me m nt hi t hi t nd uc ndm nt ha l a fec y tr he daeofe cme oft s Ac . j4,1 4 Stt a 1 ( t na t nt hi t' ' 2 a. t 390 emphassadde . Howe ,t ts i d) ver he a k be or me i nott quesi t widom be nd t m am e i whi h Co r s d afe t s f e s o ton he s hi he l r n c ng es r td hi lgilton ort r c a c uson by neg tve i i to on t bassofwha Congr sc e e sa i o ea h oncl i a i mplcai n he i t es hos no t do. Ra he , m y c r i t di ce n w ha Co r s i ende w ih r s c t s c i n t o t r ha ge s o s r t ng e s nt d t e pe t o e to 1 ( s t t1c n deenni t e f tve dae ofs ci 1 6' a ndme o t ci l 400c) o ha a t ne he feci t e ton 41 s me nt f he vi la lt pr s on i TI . i biiy ovi i n LA Li s ton 1 c)s sr t e,t rltons p bewe n is s r r phs doe no , ke eci 400( ' tucur he eai hi t e t ubpaag a s t upon c os e mi ton,s y an a wert t quesi n pr s nt d. Subpaa a ( )dic ss l e xa na i uppl ns o he to e e e r grph 1 s use t r gulto t ta e r quied t be pr s rbed unde Til XI a efe tvel sa e t tt r he e a ins ha r e r o e ci r te V, nd f c i y tt s ha hei fnalf r m us be s t outby J nua y 21 201 whi h i ,agan,e g ee mont a tr t i o ms t e a r , 3, c s i i ht n hs fe he d inae ta fr dae. Furhe ,s r g a ( ) sae t t t efci dae f r s h esg td rnse t t r ubpa a r ph 1 tts ha he fe tve t o uc r ul to s l be no l t rt n one yea a t r t da e on w hi h t e r ul tons tna f r s eg a i ns ha l a e ha r fe he t c hos eg a i ' i l o m ar isued. Thus,i f i t es f, or ns ance,t fnalf m ofa setofr atons w er i he i or egul i e ssued on Januar 20, y 13 2 3 te c udn ttk ef c a yltrt a J n ay2 , 01 Su p r g a h( )t e ln st e 01 ,h y o l o a e fe t n ae h n a u r 0 2 4. b aa rp 2 h n ik h efec i e dat s f r c r a n s cto of Til X1 t t a or m e i d r es r ga di f tv e o e t i e i ns te V o he f e ntone ul e r ng i e e i r atonsby sai t t e s c i ofTil XI t e f cton t s dat mplm ntng egul i t tng hat hos e tons te V ake fe he ame e t tt i i eme i r gul tonst ke e f c . Th ,i,f e m pl a s ton' i e e i ha he r mpl ntng e ai a fe t us f or xa e, eci s mplm ntng r ul tonsw e e i s d on J nua y 20, 3,t w o d ha t t ke ef e tno l t rt n J nua y eg a i r s ue a r 201 hey ul ve o a fc a e ha a r 20,201 a t daeonwhiht yt efe two dbet efeci daefrt s ci (nd 4, nd he t c he ook fc ul he f tve t o he e ton a a1ofispr sons aswel.Fi ly,s r grph ( at st r 1 t ovii ) l nal ubpa a a 3) tempt o ound outt fa wor by he rme k e a ni whe a s c i goe i o efe t i i e ntng r gultons f i ha no be n xpli ng n e ton s nt f c f mpl me i e a i or t ve t e pr srbe by J nuay 21 201 ass r a ()rquie . Subpaa a ( sae t ts h ec i d a r , 3, ubpaagrph 1 e r s rgr ph 3) tts ha uc a scin b c me efci e o J n ay 21 2 3 l i f rti r a o t ts b aa rp ( ) e to e o s fe tv n a u r , 01 . t s o h s e s n ha u p rg a h 2 i cu e te ph a e dex e ta p o d d i p r ga ( )' b c u e at o g a s cin t a n ld s h rs t j c p s rvie n aa rph 3 , e a s lh u h e to h t g ' r ui e i pl m e tng r gul t o nonnaly s l bec e e f c i on t da e t t t e eq r s m e n i e a i ns l ha l om f e tve he t ha hos r g a i ns t ke e f t whe r ul tons a e not i s e ul to a f ec , n eg a i r s ued,t def ul da e of J nua y 21 201 he a t t a r 3 , a is As s h, s pple . uc ubpa ag aph r r s r s t i ntvi t tme y pr ul ton of e ve o nce i ze he i l om ga i i e tng r ultons t t e e t y a e ne ded, by J nua y 21 201 W ha t mplmen i eg a i , o he xt nt he r e a r 3. t he , f rg i a ay i ma e ce r t ug i ta t es b r ga hso s cin 1 0c c mp iea o e ong n lss k s la ,ho h, s h t h u paa rp f e to 40 () o rs c r nt fa ohe e r mewor unde e t r of t pr vi l de i at i e pr a i k r ihe he e ousy lne ed nt r ettons of s c i e ton 1 ( ( ) Be us s ton 1 c ' pl n lngua issr t e a t rlto hi a 400c)3 . ca e eci 400()s ai a ge, t tucur , nd he eains p mong iso tt ntpa t do no m ovi a a we t whehe t s c i a ist a1ofTil XI s t onsiue rs t de n ns r o t r he e ton pple o 1 te V' s c i ,1mus l be e tons t ook yond t s c i is l. Fuly r ogni i t i r nt lm iai ns i he e ton t ef l ec zng he nhe e i t to n doi s lpr e t a a l i oft r l va l gi l tve hit y. ng o, oce d o n na ys s he e e nt e s a i s or 14 i . Rtltv Hitr Be id S cim 1 0 () i Lç saie so y hn e tc 4 0 c i On M a c 26, 2009, a bilw hi h, i e ala,pr rh l c nt r i opos d a i e e i t c p f c vi e n ncr as n he a or i l da ge und TI fom $1000 t $2, wa i r uc d i t Unie St t s Ho e of ma s er LA r , o 000 s ntod e n he t d a e us Re eenai s.M orgageReor a Ant- edaor Le ngAc ,H. 1 pr s ttve t f m nd ipr t y ndi t R. 728,111hCong.j t 21 a ( s Ses 2009) Thepa tc a tteoft bilunde whih t sprpos fl alosaed 0() 1t s. . riulr il he l r c hi o al el s tt t tçgl n ha ithe mendme sma by t sttes l a yt ta a tonscons nt de hi il hal ppl o rns ci ummae ono atrt td r fe he efeci daeoft r ai s ciid i sci 209. l j21 f tve t he egultons pe fe n e ton 5 d 5 7.Se ton209oft ttte i ci ha il,n is e iet pr vi d: t ntr y, o de Re ai ns r quied or au horze t be pr c i d unde t s tte or t gul to e r t i d o es rbe r hi il he a e m e sm a by t stte m nd nt de hi il - ( )s l beprs rbe i tnalf m beor t e oft l monhpe i 1 hal e ci d n i or f e he nd he z- t rod be l i on t da eoft e cm e oft sAc ;a gim ng he t he na t nt hi t nd ( s l t ef t not ltr t n 18 mont a t t dae of t 2) hal ake fec ae ha hs fer he t he ena t e oft sA c . c m nt hi t 1 j 209. Thesmia iy bewe n t e sci a t s r r phst tweecons i td d. i lrt t e hes e tons nd he ubpaag a ha r oldae unde s ci 1 c oft Dodd- ank Ac i unde a e. Mor ove ,t f e ng s tons r e ton 400() he Fr ts nibl e r he orgoi eci r ve t t a t tm e H . e al ha t he i R.17 w as s it is a hor i e d a e 28 ubm ted, t ut s nt nde m ndm e s s h as t nt , uc he a e e of TI ' ca on s a ut y da ag ,t bec e e f c i onl once t r ul to m ndm nt LA S p t t or m es o om f e tve y he eg a i ns r uie by o he s c i ha bee pr m ul t d a m a e f tve. O n M a 7,2009,H . . eq r d t r e tons d n o ga e nd de f ec i y R 1 pa s t H ous ofRe es nt tvesw ih t a or m e i 728 s ed he e pr e a i t he f e ntoned s tons i t s m e f r . ec i n he a om On D e e be 2,2009,a bilw a i r uc d i t H ous ofR e es nt tves t tw oul cm r l s nt od e n he e pr e a i ha d lt r be om e t Dodd- a Ad . The W a lStee Re ol a Cons r Pr e to Ac of ae c he Fr nk l r t f ' nd m ume ot ci n t 2 0 , R. 7 1 1h Co . 1 tSe s 2 0 ) Afe teM o t a eReo m a dAnip e tr 0 9 H. 41 3, 1 t ng ( s s . 0 9 . tr h rg g f r n t- rdao y Le ng Ac w a adde a Til V I , H . 41 pas e t H o e of Re es nt tve on ndi t s d s te 1 R. 73 s d he us pr e a i s Dec m be 11 2009. Onc a i t l ngua a e ng TI , t a i a e pr sons e r , e ga n, he a ge m ndi LA he pplc bl ovii r ga di t i pl m en a i ofr gul tons a t e f tve da e a1r m ane unat r d. On e r ng he m e t ton e a i , nd he feci t l e i d le e M a 20,2010, heUnie Stt Se t vot d t pas ,a ongwih a s resofn e y t t d a es na e e o s l t ei m ndme st ta e nt ha r ir e nt f t pup os of t s m e or ndum o ni H . .41 a t bil m ove t a r el va or he es hi m a pi on, R 73, nd he l d o c e e ecommite.1 Co Rec 54078( iy e M a 20,201 . onfr nc te 56 ng. . dal d. y 0) O n J 29,201 a conf r nce r por t ac om pa H . 41 w a i s d pr une 0, ee e to c ny R. 73 s s ue opos ng t i he Dodd- a W a lSte tRef r a Cons e Pr eci n Ac . H . Re N o.111- 7,a 1 Fr nk l r e o m nd um r ot to t R. p. 51 t ( 0)( .Re ) By t spoi ,t n ndme ofTI S cvi da ge ca ha be n 201 Conf p.. hi nt he me nt LA' i l ma s p d e i oportd a s ci 1 6 i Til XI (heM orgage Reor and Ant- e t y Le ng nc r ae t e ton 41 n te V t t fm iprdaor ndi Ac) 1 a 790. Sinii a l t sveson oft Ac alo i l d scton 1 i t s me t. d. t g tc nty, hi ri he t s ncude e i 400 n he a f nn t ti pr e l e s s 1 a 773 o ha t es nty xit . d. t -74. l ot r w or ,t s c i r r ng r gul tons n he ds he e tons ega di e a i a e f c i daest had pr vi usybe n ditnc fom e c o he wer cons i t d. nd fe tve t hat e o l e si t r ah t r e olda e O n J 30,201 t Hous of Re e e atves a e t t c e e r por on H . une 0, he e pr s nt i gr ed o he onf r nce e t R. 41 1 Cong. .15261( iye J 30, 0 .AndonJ y 1 201 t Se ecl e 73. 56 Rec 1 dal d. une 201 ) ul 5, 0,he nat os d de t a as a ee t t c ee erpor onH. 4173. 1 Cong.Rec.55933 ( l e bae nd lo gr d o he onfrnc e t R. 56 daiy d. J y 1 201 . Siniia l be or de t c s d a prort t vot beng tke i t ul 5, 0) g fc nty, f e bae ea e nd i o he e i a n n he Se t ,Sena orD odd,one oft l gi l ton' c s na e t he e s a i s o- pons s s a e or , t t d: The e a e a num be of pr vi i i tte X I f whi h t r i not a s ii r r r o s ons n il V or c he e s pec ted efci daeot t nwha i pr d i sci 1 c .I i t i enton of fe tve t her ha t s ovied n e ton 400() t s he nt i t co e e t tpr s ons i tte X 1 t t do notr uie r a i bec e he nf r es ha ovi i n il V ha eq r egul tons om e f c i no l t r t 1 m on hs afe t de i t d t a f da e f t CFPB, f e tve a e han 8 t t r he s gna e r ns er t or he a rquie by s ci 1 c . Ho ver t c eee e urge t Fedeal s e rd e ton 400() we , he onfr s nco a he r Resr e Boad and t g ume Fi nca Prtcton Bur a t ac a ev r he cons r na il oe i e uj o t s e xpedii l as pos i e t pr ul t r gul tons s t tt pr s ons oftte tous y s bl o om ga e e a i o ha he ovi i il X I a epu i o e f ts V r t nt f ec oone . r 1 a 55928(ttme ofSe Dodd . Thus ac r ngt Se t Dodd' sae nt whihhe d. t sae nt n. ) , codi o naor s ttme , c madej tsx da beor Pr i ntOba sgned t Dodd- a Ac i o lw,i wa t us i ys f e esde ma i he Frnk t nt a t s he i e ton of t c e e - t t i , t e m em be s f om t Se t a t H o e of nt n i he onf r es ha s hos r r he na e nd he us Re e e a i w ho s r d on t c e e pr s nt tves e ve he onf r nce co m it - t t pr s ons i Til X I , lke m tee ha ovi i n te V i s cton 1 6,f whi h r a i a e notr r d,s d notbec e efe i i e a ey e i 41 or c egultons r equie houl om f ctve mm dit l upo t Ac ' e t e . Bec us e n one da afe t de i t d ta f r dae,J y 21 n he ts nacm nt a e ve y tr he sgna e r ns e t ul , 2011 woul ha be n wela trPl ntf pur has t 1 Honda Ac or fom Def nda i , d ve e l fe ai if c ed he 992 c d r e nt n Se e r201 Pli ifwoul not unde s h ar adng ofs cto 1 c,be ei bl f ptmbe 0, antf d , r uc e i e in 400() lgi e or m o et n $1000 i sa ut yda age unde TI r ha , n tt or m s r LA. Le ng c e nc t t vi t tt i r s i t r l ntca t saut l da a s ndi r de e e he ew ha he nc ea e n he eeva p m t t ey m ge hasnotye gone i o efec i t ve so of 1 U. C.j 1 s id by t Go r me t nt f t s he rin 5 S. 640 upple he ve n nt Prni gOf eC$ '. l isv rin o TI teGPO a k o e g steDo d Frn Ac' itn fc GPO' n t eso f LA,h ) c n wld e h d - a k ts a e m ndme oft ci lla lt c I as c i e il d f c i Dae of201 Ame m e t' nt he vi ibiiy ap. n e ton ntted t e tve t Ef 0 nd n , ' w hi h r f r t t A c , he GPO s a es c e e s o he t t tt : Ame ndmen by s tong ...1 6 ...ofPub.L.111203 efci ont daeon t eci ) 41 - fe tve he t whi h fnalr gul to i e ntng t ta c i e ai ns mpl me i ha mendmen t efe t oron t dae t ake f c , he t t ti 18 m o hs a trt desg td ta f rda e i s h r ai ha not ha s nt fe he i nae r ns e t , f uc egultons ve be nis dbyt tdae,s s ci 1 c ofPub.L.111203.... e sue ha t ee e ton 400() 1 U. C. 5 S. 1 640 (valbl a ia e a htp:/ t t /- .po. f yspkgr scoDE- og gov/ds / zol tte sp fuscoDE- ol -ill -ha 4lp g. W hl ti ln u g b sc ly s e t p ro ill /d / z otte sc p .d ie h s a g a e a ial e ms o ar t sci 1 c oft Dodd- a Ac,i i worhobs r i t tt GPO (nd,i i tly,t e ton 400() he Frnk t t s t e vng ha he a ncdenal he Unie Stt Code Al ttd a t Unie Stt Code Se vc )lsst c p i 1 U. C. td aes moae nd he td aes r ie it he a n 5 S. j 1 40 a( )A)i)a $10 0 n t$ ,0 t u i li t tt ic e s i te c p h sno ye 6 ()2 ( (i s ,0 , o 20 0,h s mpyng ha he n r a e n h a a t t gonei o e f c . Co e dl t sf ti no dipostveofwhe he t ca i r s hasbe m e nt fe t nc de y, hi ac s t s ii t r he p nc ea e co e f c i a t m a ri whih t s s r c selc t pr s ntpr sonsoft Unie St e fe tve, nd he nne n c he e e vie e t o e e ovii he t d ats Code i notc r lng. H ow e r wh nc n iee i c n u di nwi t efr g i lg saie s ont oli ve , e o sd rd n o j n o t h o e ong e iltv h hit y,t f c t ta lt e s r c ha no ye c nged t c p t $2,000 cerai y m iiat s sor he a t ha l hr e e vi es ve t t ha he a o t nl lt e i f voroffndi t tt i r s hasnotye gone i o e f t n a i ng ha he nc ea e t nt f ec . 17 Stppi bac f o Til XI l obs r t t i o he pa t of t Dodd- a Ad , e ng k r m te V, e ve ha n t r rs he Fr nk Congr s m a i cl rt ti w as s tng outdif r t e f c i da es f pr s ons t tr r e s de t ea ha t eti f e en f e tve t or ovi i ha equie t pr he omul to ofi e e i r a i orr e a pr so t do no . Fo e m pl gai n mpl m ntng egultons ul s nd ovii ns hat t r xa e, s c i ns 754 a 774,i t i e i e y,bot s a e t tu e s o he wi e pr ded, e to nd n he r ntr t h t t ha nl s t r s ovi t pr so of t s s il s l t ke efec on t l e of 360 da afe t he ovii ns hi ubtte ha l a f t he atr ys tr he da e oft e c m e oft ss il or t t e e a pr son oft ss il t he na t nt hi ubtte , o he xt nt ovii hi ubtte r r s a r em a ng,notl s t n 60 da afe publc i of t fna r e or equie ul ki e s ha ys t r i aton he i l ul r ul to i pl m e i s h pr s on oft s s il eg a i n m e ntng uc ovi i hi ubtte. jj 754,774, 1 4 Stt a 1 2 a. t 754, 1 l f multng t s efctve dae lngua Co r s 802. n or ai hi fe i t a ge, ng e s c e ry i c t d not o y t t i w as s ti f t e e i t t de a t ef e tve da e l a l ndi a e nl ha t e tng orh xc ptons o he f ul f c i t e di d i s to 4 of t Dodd- a Ac ,bu as t t i wihed t ditnguih bewe n mbo e n eci n he Fr nk t t lo ha t s o si s t e pr s onst tr quie t i pl m e a i n ofr gul i ,and t e t tdo no . The cl rt wih ovi i ha e r he m e nt to e atons hos ha t a iy t whi h Congr s e t bls d t s at r tve e f c i daesc r sswih t l k ofditnc i c e s sa ihe he e le na i fe tve t onta t t he ac si ton be w e n Til X I pr vi i t tr uie t i pl m en a i of r gul i ns a t e t tdo t e te V o s ons ha eq r he m e t ton e ato , nd hos ha not And,one c d ar t lc ofs h ditnci i s ci 1 c)i i c tve of . oul gue, he a k uc si ton n e ton 400( s ndiai Congr s ' i e i t ha t s m e ef e tve da e r e a y f a1 s tons ofTil X I . e s s nt nton o ve he a fci t ul s ppl or l ec i te V Uli ael i lg oft consse y wih whih pr vi ier tons oft Dodd- ak tm t y, n i ht he it nc t c e ous t a i he Fr rk A c ad es e t ef e tve da e ofpr s o unde wha eve ua l ca e t be Til X I o t t dr s d he f c i t ovi i ns r t nt ly m o te V f he Ad,a be a e o t e i tsae e oft c e ee 'i e a r l t d i t Cong e so l nd c us f he xplci tt m nt he onf r s ntnt s e a e n he r s i na Re or Ic ude t t c r r t Pl i ifsco e i n,a de piet a g t o s c i c d, oncl ha , onta y o antf nt nto nd s t he mbiuiy f e ton 1 c' pli lng ge,t i ras i Tl scvi la lt ca di notbec efci on 400()s an a ua he nee e n LA' i l ibiiy p d ome fe tve J y 22,201 8 A c or ngl , Pli ifi e ild t $1O0O,as oppos d t $2, ,i sa ut y ul 0. c di y antf s ntte o , e o 000 n tt or dam ages underTI .9 LA Blac knowl edget ti a las one i tnc , ra igscin 1 0 ()3 a a pligt a1 fTieXl c udla t ha n t e t nsa e e dn e t 4 0 c() s p yn o lo t V o l e d o o l a i ongr n nc uousr s tt t Congr s m a no hav i e d. Seci 1 4 oft D odd- ank Ac a ende t e ul ha e s y t e ntnde ton 48 he Fr tm d he s e pr so i Til V1 oft H epi Fam iis Sav Thei Hom e Ac of2009, whi i < co i d ...> uns t oviin n te I he l ng le e r s t ch s ntnue 18 2. a a s unde V iRi a U s r La D m ge r r ni u v w Pli ifalo s eksda a f De e n ' unia e ali antf s e m ges or f nda ts lt r mposton ofa 28% i e e trt ii nt r s ae, whi Pli if c t ,e e t sa u or c p underVigi a l w . As a g r lma tr ch, antf on ends xc eds he tt t y a r ni a ene a te , V i g ni l pr de t ,exc pta ot r s per it d i t V igi a Code t c r cts l r i a aw ovi s hat e s he wi e m te n he r ni , t onta ha l no b m a f t pa e of i e e ton a l n a a r t t e e e de or he ym nt nt r s oa t a e hat xc eds 1 pe ce pe ye r ' Va. 2 r nt r a . ' Code j 6. 30 A) Howe r i n t r i a oblgai t pa i ee ta no e es 2- 3( . ve , t whe hee s n i ton o y ntrs nd xpr s c r c t pay i er s a a s ii d r t ...,'t l lr t of i e es s l be i ple I onta t o nt e t t pec te a e ' he ega a e nt r t ha l m i d. d j6. 301B) Thel alrt ofitr s i s ta a a lrt of6 .1 j 6. 301( . Whe 2- ( . eg ae ne et s e t n nnua ae % é 2- A) n i e e ta nt r s bove t saut y m a mum i pai t pe s payi m a r ove fo t pe s he t t or xi s d, he r on ng y ec r r m he r on r c vi s h pa e s' e ei ng uc ym nt . <. .c niue >oh r s k wna tePrtcigTe a t a Foe ls r Ac CI . o tn d tewie no s h oe t n n n s t rco ue t PTFA'7 b L. l 12 l3 ' Pu . No. 1 -2, 2 ) Sa. 6 2(0 9 .Aso i n l e a td tePTFA wa stt b rp ae o De e e 31 2 2.j7 4,l Sa. tt 1 3 2 0 ) rgial n ce ,h y s e o e e e ld n c mb r , 01 0 23 tt a 1 t 662. Howe ,s c i 1 a ver e ton 484 mende t s e r in dae a exended t PTFA by srki <201 'a d hi xpiato t nd t he ti ng ç 2' nd is rig< 4. j1 8 4) 1 4Sa. t2 0 Re dngscin l 0c()a a pyn t a1scin o Til Xl n et Q01 ' 4 42 , 2 tt a 2 4. a i e to 40 ()3 s p lig o l eto s f te V n ' mea t ts ci 1 samendm e oft PTFA ' s e pr son mi nottke e f tuntlJa r 21,201 ns ha e ton 484* nt he S uns t ovii ght a fec i nuay 3. Tobes e i i ditc tt i net tCongr s i e ur , t s fi ul o magi ha e s ntndedt al frs h apotntaly a o low o uc e i l nomal r s twhe e ous e ul r by t pr sonsoft PTFA woul e r on Dec mber31 201 onl t le dor he ovii he d xpie e , 2, y o i mantf t e wee untlJ nuar or hr e ks i a y 21 201 a w hi poi ,lkes es r oflgiltveva pie,t yw oul ber vi d and e e , 3, t ch nt i om o t e sai m r he d e ve xtndeduntl201 And i 4. ce ry i scin l 0 ()3 weera t a pyo l t t s scin wi i TieXl ta rq iei e nig lal,f eto 4 0 c( ) r e d o p l ny o hoe e t s t n t V h t e ur mplme tn o h l rg lto s te scin l 0 ()3 wo l no a pyt scin 1 8 , n teewo l b n g p i tea pl a ii e uain ,h n e t 4 0 c( ) ud t p l o eto 4 4 a d h r ud e o a n h p i bly o c t ot P fhe TFA.Ty ial, o rss o l a oditr rt gsaue i wa st tla t a udo to s Se Gr /r pc l c u t h ud v i nepei ttts n y ha e d o bsr uc me . e f z y n l v Oc a i Co ta tr,I c, 58U. 5 4 5 5( 9 2 (çltrrtto so asauewhihwo l po u ea s r . e nc nr co s n .4 S. 6 , 7 1 s ) tlnep eain f ttt c ud r d c b ud l rs t ae t b a od d i atraie itrrtto s c n itn wih t lgsaie pup s ae a albe' eul r o e v ie f l n tv nep eain o sse t t he e iltv r o e r v i l.) s e a ' (i to so te ) Ho v r i tei tn matr ii n tce rh t n s c rs l,h u hp tnil a o lu , ct in mi d . we e ,n h nsa t te,t s o la ta o e u h eutto g oe tal n mao s a t y rs st t lve ofa ur t M or i tn l t sdocrne doe notgi me lc et i e rta gi s ton ie o he e l bs diy. e mpora ty, hi ti s ve iens o ntm e ven eci ofa over800n pageac i apa tc a way sm pl bec us t i e pr ai pe t t e i r concla i ofa tn riulr i y a e hat ntr etton nnis he aser e iiton dfeetscinfu deswh r i teat F rhe,meeysai tepo osto ta Co gesc udn thv ifrn et o n le ee n h c. ut r rl tt h rp iin ht n rs o l o ae o ng ia v re ty e gn ee a ic n riy o ic n itn y l a mao pic o lgsain sr e t rft i. n d etnl n ie rd n n o g ut r n o sse c n j r e e f e ilto ev s o e ue t Aco dn l,lwi n titrrtscin 1 0 ()a a lig o y t tos scinsi Til X1 ta rq ie c r igy l o nep e e t 4 0 c s ppyn nl o h e eto n t V h t e ur l o e i plm e i r atonssm pl be us oft e fc t tdoi s m i ha on t sausoft PTFA . m e ntng egul i i y ca e he fe t ha ng o ght ve he tt he 9Pli ifaguest i e prtng t amendm e ofTI ' cvi la lt ca t ha tken e fcton J y22 201 antf r hat ntr ei he nt LA S i l ibiiy p o ve a fe ul 0 , woul be i a cor e wih one oft Dodd- a Ac ' e ii pur es na y, pr e i c um e sfom d n c danc t he Frnk ts xplct pos - mel otctng ons r r a i fna alsr c pr c i s. l St . a 1 busve i nci e vies a tce 24 at t 376. la e t tt r i noobvi r as n why Congr swoul gr e ha he e s ous e o es d desr o ne t dely r sng t maxi ie r ed o a aii he mum pe t f r no naly o ncomplan l ng pr ctcesfom $1000 t $2, i t endi a i r o 000. , Howeve,lr iea et tt t k be or m e i t di ne Congr s' i e , no t c a pos hoc r tonalzainsf r etrt ha he as f e s o vi es s ntnt t o r A t ai i to or Congr ssa tonsort i e pr asi e s ton ofa ac i s h a wa a t bete ha moni i wih oneoft es ' ci o ntr et ngl eci n t n uc y s o tr r ze t t he wi r ngpolcy g l an de-angi i oas nounc a t ve ybe nni oft ta t Un o be l t o jcie o agv npe e ed t he r gi ng ha c . d u tdy,he be t s f ie ic v of e sa i houl as ly se ded n ntl ei t e A lgilton s d notbe c ual dir gar w he i epr tng i, s e US Na 1 Ba k o Or v I e I s . t n f . . ndp. n . ge t o l ,5 8 U..4 9 45 (9 ) b ti tec s a h n ,tep po e o teDo -rn Ac aei n ns fzm. 0 S 3 , 5 193, u n h ae t a d h u ss f h ddF a k t r n o dsen bewa c nrv n db myitrrtt no scin1 0 c. ic ra l y o ta e e y nep eai f e to 4 0() o 19 1 The t a a o oft i e e tpai t s h pe s i e es oft tpe m it d . ot l m unt he nt r s d o uc r on n xc s ha r te by t a i bl s a ut he pplca e t t e; 2.Tw i e t t a a ot t of i e e t pa d t s h pe s durng t t o ye r c he ot l m m nt r s i o uc r on i he w as i e at ypr ce ng t da eoft flng oft a ton; nd mm di el e di he t he ii he ci a 3. Cour cos sand r as bl a t ney f e . t t e ona e tor es I j6. 305( . d 2- A) As 1 me i d i not 4,s pr on t ba i ofan a tzai t e a t he a an ntone n e u a, he ss mori ton abl tac d s e hbtt h smo in frd futj d me t Plitf camst a oft $ ,0 0 ta h p i x ii o i to o e a l u g n , anif li h t he 30 0.0 h t e ad d i t yea i whih he made m on hl payme s o t c r $1023. was i t f of urng he r n c ty nt n he a , , 41 n he onn i e es . U nde t l gal r t of i e es of 6% ,0 Pl ntf s a or i ton t bl i c t s t t nt r t 1 ai i f m tza i a e ndi a e ha r he e ae nt r t d i t tye r Pli ifs ul ha padonl $1 78i i e e t(husr ucngt r mai ng urng ha a , antf ho d ve i y 93. n ntr s t ed i he e ni e or he ne t d a ntf s prncpalbaa on t ca t $1693. . Ther f e,t excess i t res pai by Pli if i ii lnce he r o , 78) cac ae t be $8 63. Of c s , t c t t t l a ount of i e e t pai i $ 046. lul td o 29. our e wi e he o a m ntr s d s 2, 82. Combi ng t s t tgur pr ni he e wo i es oduce a s otl us y da a s ubt a ur m ges amount of $ 8 45. 2,76. How e r 1 wils r c f om t s a ountt r m a ni prnc palba anc t t Pl i ifow e on ve , l ubt a t r hi m he e i ng i i l e ha a ntf s t ca ,whih i $1693. a we last i e es t thasa c ue snc Se e r2011 whih he r c s , 78, s l he ntr t ha c r d i e pt mbe , c i c l ult d t be $76. s ac ae o 23. Thus t t alus y da a t whi Pl ntf i e ild i , he ot ur m ges o ch ai if s ntte s $1 106. 1 44. 1 , B.N on- onet R elef M ary i Unde Vigi a lw,a s urt i e es i e o c a e a ns t de oronl i val ha r r ni a ec iy nt r t s nf r e bl gai t he bt y f ue s be n gi n,t de or ha r ght i t c l t r l a t de or has a he ia e a s c iy e ve he bt s i s n he ola e a , nd he bt ut ntc t d e urt a re n t a p o ie a d s rp in o t e c ltrl Va Co e j 8.A- 0 ( )1V3 . g e me t h t r vd s e c ito f h ol ea. . d a 9 2 3b() ) 1 Pl ntf alo c cul e t e s amountofi e es pai i t lgalrt ofi er ti notapple Howe ,l 0 ai if s al ats he xce s ntr t d f he e ae nt es s id. ver fndt tt lgalr eofi e es of6% m us bei id. Alhought parismay nothavedic s anap iabl i ha he e at ntr t t mple t he te s used plc e r t ofi ees,Pli ifca ts ro l c e t thet ae ntr t antf nno e iusy ontnd ha houghthewa pur hasngt ca wihoutanyfna i . s c i he r t i ncng 1 Thi fgur doesnoti ude c t o at ne sf s bot ofwhih Pl ntf hass pa ael moved t Cour t ' si e ncl oss r tor y' ee , h c ai if e rt y he to a a d. w r 20 s c rt a r e n i o e t a S rae o p o ie f r a s c rt itrs. I j 8.Ae u i g e me t s n h t t e t s r r vd s o y c e u iy n ee t' d ' 9 1 a ( ) Unde t Vigi a Code,t a he i t adoc ntsmpl me nst sg i. f 02()73 . r he r ni o ut ntcae ume i y a o in t J. j89 1 2 a( )A) c u eP an ifd dno sg as c i a re n , anifmanan t t .A- 0 ()7 ( .Be a s litf i t in e urt g e me t Plitf iti s ha y De e nt ha no e o c abl s c iy i e e t i t c r I agr e' wiho s h a s c iy f nda s nf r e e e urt ntr s n he a . e , t ut uc e urt i e e t i wa i pr rf Def nda t pl e a le on t tte t t ca . Ac di y,lwil ntr s, t s m ope or e nt o ac in he il o he r cor ngl l e e a or rdeca i Def ntss urt i er s i t ca voi a une er abl Fu t r ntr n de lrng enda ' ec iy nt e t n he r d nd nf ce e. rhe , t tor rwildie Def ndantt r e et le t gi t c ' tte ba k t Pli if a t ha de l r ct e o elas he in, o ve he ars il c o a ntf, nd o r t t Pl i ifa ke t t ve cl t the i hol ng. eum o antf ny ys o he hi e ha s di I .CONCLUSI V ON Fo t ef r g ig r a o , an ipsmoi n f rd futj g n s alb g a td An r h o e on e s ns Plitf to o ea l ud me t h l e rne . or r wilbe e t r d a r ng Pl ntf da a s i t a ount of $2, 44. Addii nal de l n e e wa di ai if m ge n he m 106. to ly, De e n ' s urt i e es i t 1 HondaAc or wilbe de a e voi a une or e bl f nda ts ec iy nt r t n he 992 c d l clr d d nd nf c a e. Fi ly,Def nda wilbe or r d t r l as t le hehaspl c on t c rstte,t gi t nal e nt l de e o e e e he in a ed he a ' il o ve he tteba k t Pli it a t rt nt Pl ntf a ke t t ve cet heposese . il c o antfl nd o eur o ai if ny ys o he hil hat s ss The Clr oft Cour i he e die t d t s nd a c tfe copy oft sm e a ek he t s r by r c e o e erii d hi mor ndum o ni a t a om panyi or rt a 1c pi on nd he cc ng de o l ouns ofr or A ddii l t t e e t ti i el ec d. tonaly, o he xt nt ha t s pos i e,t Clr oft Cour i her by die t d t s nd c rii copi oft s doc nt t sbl he e k he ts e r c e o e e tfed es he e ume s o De e n . f nda t Etrdti 17- dyoJn,02 nee hs 6 --a fue21. ) N O AN K . O O M U NI TED STATES DI STRI J DGE CT U 21