DEBRA A. VALENTINE
General Counsel
MICHAEL J. BLOOM (MB 7732)
RHONDA J. MCLEAN (RM 9140)
DONALD G. D'AMATO (DD 3008)
Federal Trade Commission
One Bowling Green, Suite 318
New York, New York 10004
(212) 607-2829
Attorneys for Plaintiff
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
FEDERAL TRADE COMMISSION,
Plaintiff,
v.
INTERSTATE RESOURCE CORP., a New York Corporation, JAMES LUDLOW, and
JOHN O'BRIEN,
Defendants.
Civil No.
STIPULATED FINAL JUDGMENT AND ORDER
Plaintiff, Federal Trade Commission ("Commission"), has filed a
Complaint for a permanent injunction and other equitable relief
pursuant to Sections 5(a) and 13(b) of the Federal Trade Commission
Act ("FTC Act"), 15 U.S.C. §§ 45(a) and 53(b), and Section 108(c) of
the Truth in Lending Act ("TILA"), 15 U.S.C. § 1607(c), alleging that
defendants Interstate Resource Corp., James Ludlow, and John O'Brien
("defendants") have violated TILA, 15 U.S.C. §§ 1601-1666j, as
amended, including, but not limited to, the Home Ownership and Equity
Protection Act of 1994 ("HOEPA"), as amended, TILA's implementing
Regulation Z, 12 C.F.R. 226, as amended, and/or Section 5(a) of the
FTC Act, 15 U.S.C. § 45(a), as amended.
Plaintiff and defendants, by and through their respective counsel,
have agreed to entry of this Stipulated Final Judgment and Order
("Order") by this Court, without trial or adjudication of any issue of
fact or law. The said parties having requested the Court to enter this
Order, it is therefore ORDERED, ADJUDGED, AND DECREED as follows:
SNIPPETS:
DEBRA A. VALENTINE
General Counsel
Federal Trade Commission One Bowling Green,
New York, New York 10004
Attorneys for Plaintiff
INTERSTATE RESOURCE CORP., a New York Corporation, JAMES LUDLOW, and
Plaintiff, Federal Trade Commission, has filed a Complaint for a permanent injunction and
on Act of 1994, as amended, TILA's implementing Regulation Z, 12 C.F.R. 226, as amended, and/or
Plaintiff and defendants, by and through their respective counsel, have agreed to entry of
Venue in the Southern District of New York is proper.
Defendants, while neither admitting nor denying any of the allegations of wrongdoing set
The terms "annual percentage rate," "consumer," "consumer credit," "consummation," "credit,"
The term "HOEPA" means the Home Ownership and Equity Protection Act of 1994 which, inter
E. The term "TILA" means the Truth in Lending Act, 15 U.S.C. §§ 1601-1666j, as amended.
Injunction Against HOEPA and Related FTC Act Violations
IT IS THEREFORE ORDERED that defendants, and each of them, their successors, assigns,
:
IT IS FURTHER ORDERED that defendants, and each of them, their successors, assigns, officers,
ce" is defined in Section 4 of the FTC Act, 15 U.S.C. § 44, are permanently restrained and enjoined
If the Commission determines, in its sole discretion, that redress to consumers is wholly or
Commission's Authority To Monitor Compliance
JUDGMENT IS THEREFORE ENTERED under the terms and conditions recited above, each party to
JOHN O'BRIEN
|
