15 U.S.C. § 1693m : US Code - Section 1693M: Civil liability

Search 15 U.S.C. § 1693m : US Code - Section 1693M: Civil liability

(a) Individual or class action for damages; amount of award
Except as otherwise provided by this section and section 1693h of
this title, any person who fails to comply with any provision of
this subchapter with respect to any consumer, except for an error
resolved in accordance with section 1693f of this title, is liable
to such consumer in an amount equal to the sum of -
(1) any actual damage sustained by such consumer as a result of
such failure;
(2)(A) in the case of an individual action, an amount not less
than $100 nor greater than $1,000; or
(B) in the case of a class action, such amount as the court may
allow, except that (i) as to each member of the class no minimum
recovery shall be applicable, and (ii) the total recovery under
this subparagraph in any class action or series of class actions
arising out of the same failure to comply by the same person
shall not be more than the lesser of $500,000 or 1 per centum of
the net worth of the defendant; and
(3) in the case of any successful action to enforce the
foregoing liability, the costs of the action, together with a
reasonable attorney's fee as determined by the court.
(b) Factors determining amount of award
In determining the amount of liability in any action under
subsection (a) of this section, the court shall consider, among
other relevant factors -
(1) in any individual action under subsection (a)(2)(A) of this
section, the frequency and persistence of noncompliance, the
nature of such noncompliance, and the extent to which the
noncompliance was intentional; or
(2) in any class action under subsection (a)(2)(B) of this
section, the frequency and persistence of noncompliance, the
nature of such noncompliance, the resources of the defendant, the
number of persons adversely affected, and the extent to which the
noncompliance was intentional.
(c) Unintentional violations; bona fide error
Except as provided in section 1693h of this title, a person may
not be held liable in any action brought under this section for a
violation of this subchapter if the person shows by a preponderance
of evidence that the violation was not intentional and resulted
from a bona fide error notwithstanding the maintenance of
procedures reasonably adapted to avoid any such error.
(d) Good faith compliance with rule, regulation, or interpretation
of Board or approval of duly authorized official or employee of
Federal Reserve System
No provision of this section or section 1693n of this title
imposing any liability shall apply to -
(1) any act done or omitted in good faith in conformity with
any rule, regulation, or interpretation thereof by the Board or
in conformity with any interpretation or approval by an official
or employee of the Federal Reserve System duly authorized by the
Board to issue such interpretations or approvals under such
procedures as the Board may prescribe therefor; or
(2) any failure to make disclosure in proper form if a
financial institution utilized an appropriate model clause issued
by the Board,
notwithstanding that after such act, omission, or failure has
occurred, such rule, regulation, approval, or model clause is
amended, rescinded, or determined by judicial or other authority to
be invalid for any reason.
(e) Notification to consumer prior to action; adjustment of
consumer's account
A person has no liability under this section for any failure to
comply with any requirement under this subchapter if, prior to the
institution of an action under this section, the person notifies
the consumer concerned of the failure, complies with the
requirements of this subchapter, and makes an appropriate
adjustment to the consumer's account and pays actual damages or,
where applicable, damages in accordance with section 1693h of this
title.
(f) Action in bad faith or for harassment; attorney's fees
On a finding by the court that an unsuccessful action under this
section was brought in bad faith or for purposes of harassment, the
court shall award to the defendant attorney's fees reasonable in
relation to the work expended and costs.
(g) Jurisdiction of courts; time for maintenance of action
Without regard to the amount in controversy, any action under
this section may be brought in any United States district court, or
in any other court of competent jurisdiction, within one year from
the date of the occurrence of the violation.