FTC Holder Rule & Attorney Fees
Where a State Statute Provides for Attorney’s Fees, Does the FTC Holder Rule Limit the Amount? The first critical issue lies with the second sentence of the Notice required under the Holder Rule. The Notice provides, “any holder of this consumer credit contract is subject to all claims and defenses which the debtor could assert against the seller of goods or services obtained pursuant hereto or with the proceeds hereof. […]