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)
Download PDF
<![CDATA[
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 . . US Cor ,1 W L 48 X p. 998 0809,a * ( hCi.Aug.6,1 .Afe t e r ofdeaul,t no t 2 4t r 998) tr he nty f t he n- d futn pat ma mo etec u t o d fut u g n u d rRu e5 ( )o teFe ea Ru e ea lig ry y v h o r f r ea lj d me t n e l 5 b f h d r l ls of Ci lPr ed e. 1 çl t pl i if s cl i i f a s ce t n or a s t tca be m a vi oc ur d. sf he a ntf ' a m s or um rai um ha n de c t i by c put ton, t cl r on t pl i if s r ue t w ih a a f da t s i t era n om a i he e khe a ntf eq s , t n f i vi how ng he a u td e mu te trj g n f rt a a u ta d c ssa an tad fn a twh h sb e mo n u - s n e ud me t o h t mo n n o t g i s ee d n o a e n dea tdf rnota rng .... fule o ppeai ' 'Fed.R.Ci P.55( ( ) Ho ve ,whe a hee,t s i v. b)1 . we r n, s r he um s no c ran,deful j t e ti a t udgme c n onl be ma by t c t Fe R.Ci P.55( ( 'Agrnt a y de he our. d. v. b)2) i , Su yCo.v Agrs ppl om, 7F. ppl . iu yc 45 Supp.2d660, ( D. 2006) 662 E. Va. . 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
]]>
Some case metadata and case summaries were written with the help of AI, which can produce inaccuracies. You
should read the full case before relying on it for legal research purposes.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
