Mealey's Banking & Finance - Magistrate Judge: Plaintiffs Must Tender $270,430 To Rescind Loan

Mealey's Banking & Finance - Magistrate Judge: Plaintiffs Must Tender $270,430 To Rescind Loan

CHICAGO - A federal magistrate judge in Illinois on Jan. 22 found that a couple seeking to rescind their mortgage loan as a result of the lender's violation of the Truth in Lending Act (TILA) must pay $270,430.29 (David Christiansen, et al. v. Fifth Third Bank, et al., No. 10 C 2177, N.D. Ill.; 2014 U.S. Dist. LEXIS 7577).

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