LexisNexis® Legal Newsroom
Don’t Lose Your Rescission Rights under the Truth in Lending Act: District Court Holds that Timely Notice of Mortgage’s Rescission Does Not Toll the Time to Legally Enforce Rights

Recently, a Colorado district court held that the timely filing of a 15 U.S.C. § 1635 notice of rescission will not toll the time limit for a mortgagee to sue on his rescission rights. In Barry v. Countrywide Home Loans , F.S.B. , 2011 U.S. Dist. LEXIS 12519 (D. Colo. Feb. 8, 2011) [ enhanced...

Recent CFPB Enforcement Action Results in $459,000 in Fines for Home Mortgage Disclosure Act (HMDA) Violations

The Consumer Financial Protection Bureau’s (CFPB) most recent enforcement action underscores major regulatory points of emphasis: holding institutions for compliance problems arising from technical operation glitches; enforcement of fair lending laws as a top regulatory priority; and the broad...