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MARTIN v. COM'L SECURITIES CO., INC.

No. 75-2519.

539 F.2d 521 (1976)

James L. MARTIN, Plaintiff-Appellee, v. COMMERCIAL SECURITIES COMPANY, INC., Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

September 27, 1976.

Attorney(s) appearing for the Case

Harry V. Singreen, New Orleans, La., for defendant-appellant.

Herschel C. Adcock, Sheldon D. Beychok, Baton Rouge, La., amici curiae, for Louisiana Bankers Association.

John F. Robbert, New Orleans, La., for plaintiff-appellee.

Before WISDOM and MORGAN, Circuit Judges, and LYNNE, District Judge.

LYNNE, District Judge:

This appeal presents an issue of first impression in this circuit, involving substantial consequences both to consumers and to the consumer credit industry. That issue, ultimately stated, is whether an acceleration clause in a consumer note is a term of credit required to be disclosed by the Truth in Lending Act (the Act)1 and Regulation Z2 promulgated thereunder.

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