WASHINGTON - The Senate this week approved House-passed legislation that would place a moratorium on class-action lawsuits against lenders for technical violations of the Truth-in-Lending law.

"The potential for massive rescissions, based on technical disclosure errors of as little as $10, creates a potential for liability that has been estimated to be as high as $217 billion," said Senate Banking Committee Chairman Alfonse M. D'Amato.

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