Mealey's Banking & Finance - 11th Circuit Finds Borrower Had No Claim For TILA Rescission

ATLANTA - After finding that a borrower was prohibited from asserting a claim for rescission under the Truth in Lending Act (TILA) because he obtained a residential mortgage, the 11th Circuit U.S. Court of Appeals on Feb. 6 affirmed dismissal of a complaint against lenders for failure to state a claim (Garth Cooper v. Countrywide Home Loans, et al., No. 16-16173, 11th Cir., 2018 U.S. App. LEXIS 3031).