Home Menu ↓
Clicking on our sponsor links helps insure continued free access to this website.
Please support our efforts by visiting our sponsors:

 

Jesinoski v. Countrywide Home Loans, Inc.

Docket No.: 13-684
Certiorari Granted: Apr 28 2014
Argued: November 4, 2014
Decided: January 13, 2015

Topic:

Truth in Lending

PartyNames: Larry D. Jesinoski, et ux. v. Countrywide Home Loans, Inc., et al.
Petitioner: Larry D. Jesinoski, et ux.
Respondent: Countrywide Home Loans, Inc., et al.

Court Below: United States Court of Appeals for the Eighth Circuit
Citation: 729 F.3d 1092
Supreme Court Docket

Larry D. Jesinoski, et ux.
v.
Countrywide Home Loans, Inc., et al.
Background:

The Truth in Lending Act provides that a borrower "shall have the right to rescind the transaction until midnight of the third business day following . . . the delivery of the information and rescission forms required under this section ... by notifying the creditor ... of his intention to do so." 15 U.S.C. 1635(a). The Act further creates a "[t]ime limit for [the] exercise of [this] right," providing that the borrower's "right of rescission shall expire three years after the date of consummation of the transaction" even if the "disclosures required ... have not been delivered." Id. Section 1635(f).

Question Presented:

Does a borrower exercise his right to rescind a transaction in satisfaction of the requirements of Section 1635 by "notifying the creditor" in writing within three years of the consummation of the transaction, as the Third, Fourth, and Eleventh Circuits have held, or must a borrower file a lawsuit within three years of the consummation of the transaction, as the First, Sixth, Eighth, Ninth, and Tenth Circuits have held?

Jesinoski v. Countrywide Home Loans, Inc.
ORAL ARGUMENT

November 4, 2014

Listen to Oral Argument in Jesinoski v. Countrywide Home Loans, Inc.
Holding: REVERSED AND REMANDED
Vote: 9-0
Majority: unanimous
Opinion By:
Database Connection failed: SQLSTATE[HY000] [1045] Access denied for user 'restauz8_sophi'@'localhost' (using password: YES)