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TEEL v. THORP CREDIT INC. OF ILLINOIS

No. 78-2065.

609 F.2d 1268 (1979)

Steven R. TEEL, Plaintiff-Appellee, v. THORP CREDIT INC. OF ILLINOIS, Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided December 3, 1979.

Attorney(s) appearing for the Case

Barry M. Barash, Galesburg, Ill., for plaintiff-appellee.

Aaron Kramer, William T. Kirby, Chicago, Ill., Barney Olson, II, Galesburg, Ill., William V. Altenberger, Peoria, Ill., for defendant-appellant.

Before SWYGERT, SPRECHER and BAUER, Circuit Judges.

SPRECHER, Circuit Judge.

The defendant, Thorp Credit Inc. of Illinois, appeals from a lower court judgment finding Thorp in violation of the Truth in Lending Act, 15 U.S.C. § 1601 et seq. The issue presented by this appeal is whether the lower court was correct in concluding that Thorp did not maintain loan procedures adequate to satisfy the bona fide error defense provided in section 1640(c) of the Act.

I

Steven Teel borrowed $936 from Thorp...

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