Truth in Lending: 4(m) Liability at End of Lease Term Based on Residual Value
1. Open-end leases. Section 1013.4(m) applies only to open-end leases.
2. Lessor’s payment of attorney’s fees. Section 183(a) of the Act requires that the lessor pay the lessee’s attorney’s fees in all actions under § 1013.4(m), whether successful or not.