Pulliam

Opinion of the Court by Liu, J.

The Federal Trade Commission’s “Holder Rule” requires consumer credit contracts to include specific language permitting a consumer to assert against third party creditors all claims and defenses that could be asserted against the seller of a good or service. (16 C.F.R. § 433.2(a) (1975).) The required notice further states that “recovery hereunder by the debtor shall not exceed amounts paid by the debtor hereunder.” (Ibid., capitalization omitted here and hereafter.) Tania Pulliam (Pulliam) purchased a used vehicle from HNL Automotive Inc. (the dealership) pursuant to an installment sales contract that included this notice. The contract was subsequently assigned to TD Auto Finance (TDAF; now merged into TD Bank), which became the “holder” of the contract. (Pulliam v. HNL Automotive Inc. (2021) 60 Cal.App.5th 396, 402 (Pulliam).) Pulliam filed suit against the dealership and TDAF alleging misconduct by the dealership in the sale of the car. A jury found for Pulliam on one of her causes of action — breach of the implied warranty of merchantability under the Song-Beverly Consumer Warranty Act (Song-Beverly Act; Civ. Code, § 1790 et seq.) — and…