Ronald C. Davis and Bari Davis v. Federal Deposit Insurance Corporation

THOMAS A. CLARK, Circuit Judge:

This is an appeal from a judgment dismissing appellants’ action to rescind a consumer credit transaction under 15 U.S.C. § 1635 and granting appellee’s counterclaim for summary judgment on the balance of the underlying debt plus attorney’s collection fees. Although we disagree with the reasoning of the court below, we agree with the result and affirm.

Contemporaneously with the extension of consumer credit by appellee’s predecessor in interest, the Republic National Bank, to the appellants, the lender and borrowers entered into “An Agreement Pertaining to the…