CFPB Tells 3rd Circ. Home Loan Rescission Suits Valid

Law360, New York (April 16, 2012, 7:16 PM EDT) -- The Consumer Financial Protection Bureau on Friday urged the Third Circuit to allow more flexibility for loan recipients who have allegedly legally rescinded home loans to pursue legal action against lenders who fail to recognize the agreement as null.

Filing one of four amicus curiae briefs on behalf of consumers in appeals courts across the country as "the exclusive authority to interpret and promulgate" rules regarding the Truth in Lending Act, the CFPB is arguing that the interpretation of the TILA adopted by the majority of...
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