4th Circ. Says PNC Bank Can't Force Home Loan Arbitration

By Sarah Jarvis (February 15, 2022, 8:59 PM EST) -- The Fourth Circuit said in a published opinion Tuesday that banks can't bind home mortgage loan consumers to arbitration agreements because of a provision of the Dodd-Frank Act amending the federal Truth in Lending Act, with one judge partly dissenting on the issue of jurisdiction.

Chief Judge Roger L. Gregory — writing the majority opinion for the panel, in which he was joined by Judge Henry F. Floyd — said section 1639c(e)(3) of the Dodd-Frank Act clearly indicates that consumers can't be prevented from bringing TILA actions in federal district court because of agreements related to residential mortgage loans.

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