Buckley Sandler Files Amici Curiae Brief on Behalf of Industry Groups in Supreme Court TILA CaseSasha Leonhardt, Jeffrey P. Naimon
On September 17, Buckley Sandler filed an amici curiae brief on behalf of six industry associations in a Supreme Court case addressing the right to rescind a transaction under the Truth in Lending Act (TILA). In Jesinoski v. Countrywide, No. 13-684, the Court will consider whether borrowers must file a lawsuit within three years of origination to rescind a home mortgage loan under TILA, or whether borrowers can merely submit notice of their intent to rescind the loan. The industry brief, filed on behalf of the American Bankers Association, the American Financial Services Association, the Consumer Bankers Association, the Consumer Mortgage Coalition, the Independent Community Bankers of America, and the Mortgage Bankers Association, argues that requiring borrowers to file a lawsuit within three years provides certainty to the marketplace while preserving borrowers’ rescission rights.