Smith v. Highland Bank

Suzan Smith and members of the plaintiff class allege that Highland Bank (“Highland”), as creditor, and Molton Alen & Williams (“MAW”), as Highland’s assignee, violated the Truth In Lending Act (“TILA”) in handling their mortgages. The district court granted summary judgment to Highland and MAW. We affirm.

Under TILA, a debtor may rescind a mortgage “until midnight of the third business day following the consummation of the transaction or the delivery of the information and rescission forms ..., whichever is later....” 15 U.S.C. § 1635(a). Further, a debtor must receive notice of her right to…