Did I properly verify income under the Truth-in-Lending Act’s Ability to Repay Rule?

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Elliott v. First Fed. Community Bank of Bucyrus, 6th Cir. No. 19-3690, 2020 U.S. App. LEXIS 21470 (July 8, 2020)

In this appeal, the Sixth Circuit Court of Appeals reversed in part the district court’s decision to grant a lender summary judgment, holding that the bank’s failure to verify and document the borrower’s listed income violated TILA’s ability-to-repay requirements.

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