Courts Remain Split on Availability of Class Actions for Rescission Under Truth in Lending Act
Three recent decisions, one by the U.S. 1st Circuit Court of Appeals, one by a California state appeals court and one by a U.S. District Court for the Eastern District of Wisconsin, have been issued within the last few weeks with respect to whether plaintiffs may assert class claims for rescission under the Truth in Lending Act. The 1st Circuit and California cases held that class claims for rescission are not available under TILA. The U.S. District Court in Wisconsin reached the opposite conclusion.
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