Judge: Lender's Rescission Notice Was Not 'Clear And Conspicuous'

Judge: Lender's Rescission Notice Was Not 'Clear And Conspicuous'

SALT LAKE CITY - A federal judge in Utah on Jan. 3 awarded partial summary judgment to plaintiffs and found that their request for rescission under the Truth in Lending Act (TILA) is subject to a three-year limitations period, after ruling that the notice they received when closing on the loan was not "clear and conspicuous" as to whether Saturday is a business day (Thomas J. Simmons, et al. v. CitiMortgage Inc., et al., No. 11-CV-171, D. Utah; 2014 U.S. Dist. LEXIS 1124).

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