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GUIDE TO PENALTIES FOR VIOLATION OF FEDERAL CONSUMER CREDIT LAWS AND REGULATIONS DISCLAIMER The following is a quick reference to potential penalties for certain federal consumer laws and regulations referenced in this Compliance Guide. It is not intended as an exhaustive or official analysis of all penalties that may be assessed for a violation. You should consult your attorney with any questions you may have for your particular situation. Please also note that some of the penalties identified below are subject to periodic adjustment, and the amounts reflected below are indicative of a particular period in time only ( December 2019), and may be subject to change. Consumer Credit Protection Act: Truth in Lending (TILA), Consumer Leasing Act (CLA), Fed Regs M and Z • Regulator may adjust the account of the person to whom credit was extended so that such person is not required to pay a finance charge in excess of the charge disclosed, or the dollar equivalent of the annual percentage rate disclosed, whichever is lower. 15 U.S.C. § 1607(e). • Private right of action (for certain violations): • Court costs. • Actual damages. • Statutory damages: • Individual action – twice the finance charge (or, in the case of a lease, 25% of total monthly payments with a minimum of $200 and a maximum of $2,000. • Class action – damages of up to the lower of $1,000,000 or 1% of creditor’s net worth. No minimum recovery for each member of the class applies. 15 U.S.C. § 1640. • Willful and knowing violations: fine of $5,000, one-year imprisonment, or both. 15 U.S.C. § 1611(1). • Assignees liable to the extent a violation is apparent on the face of the disclosure statement. 15 U.S.C. § 1641. Drivers Privacy Protection Act (DPPA) • Private right of action for: actual damages (but not less than liquidated damages in the amount of $2,500); punitive damages upon proof of reckless or willful disregard for the law; reasonable attorney’s fees and other litigation costs reasonably incurred; and preliminary and equitable relief as the court deems appropriate. 18 U.S.C. § 2724(b). • Criminal penalties under federal law. 18 U.S.C. § 2723. Equal Credit Opportunity Act (ECOA): Fed Reg B • The FTC can enforce violation of ECOA as a violation of the FTC Act, with potential for damages of up to $42,530 per violation if the FTC enters into an enforcement decree. 15 U.S.C. § 1691c(c); 16 C.F.R. § 1.98.

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213 2020 MEMBERSHIP DIRECTORY & SERVICES GUIDE