Green v. BIC Financial Services, Inc. (In re Green)

ORDER

BELLONI, District Judge.

Plaintiffs appeal from an adverse decision of the Bankruptcy Court. 33 B.R. 236 (1983). The issue before this court is whether the defendant’s notice of recission complied with 12 C.F.R. § 226.9(b) (1981), Federal Reserve Board Regulations, implementing the Truth-in-Lending Act, 15 U.S.C. § 1635 (1981).

Defendant’s notice of recission was given to the plaintiff in February, 1981, as part of a loan transaction. In December, 1982, plaintiffs filed a voluntary petition under Chapter 13 of the Bankruptcy Code. In April of 1983 plaintiff attempted to rescind the loan…