You don’t often see “pro-consumer” linked to a U.S. Supreme Court decision these days, but that’s an apt description of the court’s unanimous ruling on the right of borrowers to rescind mortgage loans. Lower courts had split on whether consumers can simply notify lenders that they are exercising that right or must actually file suit within the three-year rescission period. The uncharacteristically short (five pages) opinion, written by Justice Antonin Scalia, said that simply notifying the lender is sufficient. “The [Truth-in-Lending] statutes does not also require [the borrower] to sue within three years.”
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