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POE v. FIRST NAT. BANK OF DeKALB CTY.

No. 79-1004. Summary Calendar.

597 F.2d 895 (1979)

Martha S. POE, Individually and as Executrix of the Estate of Ansel Poe, Deceased, and Ansel Poe & Associates, Inc., Plaintiffs-Appellants, v. The FIRST NATIONAL BANK OF DeKALB COUNTY, Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

June 25, 1979.

Attorney(s) appearing for the Case

Roy J. Leite, Jr., James Arogeti, Atlanta, Ga., for plaintiffs-appellants.

M. Hardeman Blackshear, Decatur, Ga., for defendant-appellee.

Before GOLDBERG, RONEY and TJOFLAT, Circuit Judges.

PER CURIAM:

This truth-in-lending action fails because the Act specifically exempts from its scope extensions of credit for business or commercial purposes. 15 U.S.C.A. § 1603(1). Although the individual plaintiffs joined in the notes and gave personal security, the purpose of each transaction was to finance a corporation and its business. The district court's summary judgment for defendant must be affirmed.

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