March 2016

National Bank Gets Declaratory Judgment and Restitution Claims Dismissed

North America - United States | North America | United States - Indiana

Declaratory judgment and restitution claims filed against a national bank were dismissed with prejudice by the U.S. District Court for the Northern District of Indiana.

The plaintiffs were homeowners who claimed that their mortgage loan was invalid under the Truth in Lending Act and should have been rescinded.

However, Faegre Baker Daniels attorneys successfully argued for dismissal based on the statute of repose in the Truth in Lending Act, which elapsed before the plaintiffs attempted to rescind their loan.

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