From The Jury

1st Circuit: Missing Dates Do Not Nullify Cancellation Form Under TILA

BOSTON - A federal judge's ruling that a lender's failure to input dates in spaces on a notice of right to cancel informing a plaintiff of the deadline for a request for rescission did not extend the Truth in Lending Act's statute of limitations from three days to three years was affirmed June 11 by a First Circuit U.S. Court of Appeals panel that found that Congress and the Federal Reserve Board did not intend for such a technical deficiency to result in such a harsh penalty (Joseph Melfi v. WMC Mortgage Corp., et al., No. 09-1066, 1st Cir.; 2009 U.S. App. LEXIS 12536, See January 2009, Page 28). Full story on lexis.com

Filed by admin at July 8th, 2009 under News