CFPB Backs Wider Window For Home Loan Cancellation

Law360, New York (March 27, 2012, 4:29 PM EDT) -- The U.S. Consumer Financial Protection Bureau urged the Tenth Circuit on Tuesday to back the right of borrowers to sue their banks to cancel mortgage loans beyond a three-year window in a case that could reverberate in mortgage disputes around the country.

In the first of what the agency promises will be many amicus briefs, the nation's top consumer financial protection watchdog said that judges around the country have consistently applied an incorrect interpretation of a portion of the Truth in Lending Act governing when a mortgage...
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