New York is leading a coalition of 25 states urging the U.S. Supreme Court to uphold the rescission right of consumers under the Truth in Lending Act (TILA) to back away from a loan simply by giving written notice to the creditor.
July 28, 2014 at 12:00 AM
1 minute read
New York is leading a coalition of 25 states urging the U.S. Supreme Court to uphold the rescission right of consumers under the Truth in Lending Act (TILA) to back away from a loan simply by giving written notice to the creditor.
The high court in late April agreed to hear Jesinoski v. Countrywide Home Loans, 13-684, an Eighth Circuit case raising a question of whether the TILA rescission provision can be triggered by notice to the lender or only through a lawsuit.
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