Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina
REAL PROPERTY UPDATE - Contracts/Personal Liability: official title of “President” underneath signor’s signature on contract did not shield individual from personal liability because contract language reflected...more
On August 19, 2015, the Federal Deposit Insurance Corp., acting as receiver for Guaranty Bank, filed suit against Bank of New York Mellon Corp. in New York federal court, alleging that BNY breached its duties as trustee of 12...more
Background of Notice versus Lawsuit Issue - The Truth in Lending Act (“TILA”), as implemented by Regulation Z, provides borrowers with a powerful tool: the right to rescind certain mortgage loan transactions. This...more
In Jesinoski v. Countrywide Home Loans, Inc., decided January 13, 2015, the United States Supreme Court resolved a circuit split and clarified that borrowers need not file a complaint in order to invoke their right to rescind...more
On January 13, 2015, the U.S. Supreme Court unanimously ruled that borrowers may reserve and effect their right to rescission by simply notifying creditors of their intent to rescind a loan within three years after receiving...more
The United States Supreme Court ruled yesterday that a borrower relying on the Truth in Lending Act (TILA) to rescind his mortgage loan need only mail written notice of his intent to his lender within three years of the...more
On January 13, 2015, the U.S. Supreme Court held that borrowers exercising their right to rescind a loan under the Truth in Lending Act must provide written notice to their lender within the three-year rescission period but...more
Until today, courts were split over what steps borrowers must take to rescind a home loan. Some courts had ruled that a borrower simply had to send a rescission notice to his creditor within three years after taking out a...more