Holder Rule definition

Holder Rule means the Federal Trade Commission Trade Regulation Rule Concerning the Preservation of Consumer’s Claims and Defenses that appears in 16 C.F.R. Part 433.

Holder Rule means the Federal Trade Commission Trade Regulation Rule Concerning the Preservation of Consumer’s Claims and Defenses that appears in 16 C.F.R. Part 433. [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed.

Examples of Holder Rule in a sentence

• KeyBank printed up lengthy loan papers that lacked the Federal Trade Commission’s Holder Rule Notice.

• Id. The Holder Rule protects borrowers, such as the students, from being legally obligated to pay a creditor like KeyBank “despite breach of warranty, misrepresentation, or even fraud on the part of the seller.” 40 Fed.

• We describe the existing regulatory frameworks that we use for creating consumer protection—the FTC Holder Rule and state mortgage mediation laws.

• This is a particularly useful feature given that students often are mobile both while they are attending higher education institutions and after they graduate.235 Absent use of the Holder Rule concept, questions might also arise as to 228.

• Instead, they suggest that the FTC had damages in mind when it referred to “recovery” in the Holder Rule Notice.

• Following the logic of the Holder Rule, these protections would be in the contract terms and thus follow the borrowers to any other state.

• Under the PSBPA use of the Holder Rule, lenders would not have been obligated to insert protections into the loan contracts and such borrowers would not be covered under the protections of the Act.The market-regulating function of the Holder Rule also is helpful in the context of borrowing by for-profit school students.

• Nor is this type of discharge consistent with the Holder Rule function of shifting due diligence to the lender.Similar to IDR rights, the PSBPA uses the exercise of the federal right to loan discharge as a proxy for the availability of the right as to the private student loan if the PSBPA incorporates that right.

• Allowing such discharge promotes exactly the sort of lender due diligence supporting the reason for the Holder Rule because the lender is in the best position to more efficiently determine whether a school engages in practices that would expose it to such risks.

• Conversely, if the holder’s liability for fees is based on claims against the seller that are preserved by the Holder Rule Notice, the payment that the consumer may recover from the holder — including any recovery based on attorneys’ fees — cannot exceed the amount the consumer paid under the contract.” (84 Fed.Reg., supra, at p.