LexisNexis® Legal Newsroom
The Credit Card Accountability Act

by Diane Baker The Credit Card Accountability Responsibility and Disclosure Act of 2009 (Pub. L. 111-24, 123 Stat. 1734) contains extensive statutory changes in card protections for consumers. The Act is intended to help protect consumers from abusive fees, penalties, interest rate increases, and...

Back to the Future for Home Loans - Title XIV of Dodd Frank Act - The Mortgage Reform and Anti-Predatory Lending Act (MRAPLA)

In this Analysis, Robert M. Jaworski examines the Mortgage Reform and Anti-Predatory Lending Act (MRAPLA) (in Dodd-Frank Act) , including the significant changes that it makes to the Truth in Lending Act (TILA) (e.g., incentives for qualified mortgages, anti-steering prohibitions, defenses to foreclosure...

High Court Denies Petition to Review Ruling Finding Disclosures Satisfied TILA

WASHINGTON, D.C. — (Mealey’s) The U.S. Supreme Court on March 31 denied a borrower’s petition for a writ of certiorari that sought review of a Third Circuit U.S. Court of Appeals’ ruling affirming the dismissal of his lawsuit claiming that his mortgage lender failed to provide...

Supreme Court Hears Arguments on Whether TILA Action Is Time-Barred

WASHINGTON, D.C. — (Mealey’s) Countrywide Home Loans Inc. and property owners today argued before the U.S. Supreme Court as to whether a lawsuit filed by the owners in relation to their right to rescind under the Truth in Lending Act (TILA) was time-barred ( Larry D. Jesinoski, et al. v....

Supreme Court Skeptical of Lender’s Interpretation of TILA Rescission Statute

by S. Mohsin Reza and John C. Lynch Last week, the U.S. Supreme Court heard argument in an appeal from the U.S. Court of Appeals for the Eighth Circuit that involves an interpretation of a provision under the Truth-in-Lending Act that has caused a split among the lower courts. The Supreme Court has...

Supreme Court Finds Home Owners Had Right to Rescind Under Truth in Lending Act

WASHINGTON, D.C. — (Mealey’s) After finding that property owners gave written notice of their right to rescind under the Truth in Lending Act (TILA) within three years of their loan being consummated, the U.S. Supreme Court today reversed a trial court’s ruling granting judgment in...

Supreme Court Clarifies Borrowers’ Right to Rescind Under Truth in Lending Act

by William H. Hurd , S. Mohsin Reza and John C. Lynch In a major, unanimous decision on the Truth in Lending Act (TILA), the Supreme Court resolved a circuit split and clarified borrowers’ rescission rights under TILA, potentially making rescission of a loan transaction easier for borrowers...

Supreme Court Grants Cert in Truth in Lending Act Rescission Actions, Remands Cases

WASHINGTON, D.C. — (Mealey’s) In light of the recent ruling in Larry D. Jesinoski, et al. v. Countrywide Home Loans Inc., et al. (No. 13-684, U.S. Sup.) [lexis.com subscribers may access Supreme Court briefs and an enhanced opinion for this case], the U.S. Supreme Court today granted petitions...

FTC Announces Settlement of First Actions Against Auto Title Lenders

The Federal Trade Commission recently announced that it has entered into proposed settlements with two auto title lenders that were charged with deceptive advertising in violation of Section 5 of the FTC Act and the Truth in Lending Act. According to the FTC’s press release , the cases represent...