Case Study: Bonte V. US Bank

Law360, New York (November 4, 2010, 2:11 PM EDT) -- On Oct. 19, 2010, the Seventh Circuit Court of Appeals affirmed the dismissal of a rescission claim under the Truth in Lending Act because the plaintiffs had not alleged facts showing the allegedly inaccurate disclosures were “material” under TILA. See Bonte, et al. v. U.S. Bank NA, No. 09-2455 (7th Cir. Oct. 19, 2010).

The opinion reinforced what must be pled to state a claim for TILA rescission, generally discussed the pleading requirements of Federal Rules of Civil Procedure 8(a) and 12(b)(6) after Twombly and Iqbal,...
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