United States Fourth Circuit

In plaintiffs' action under the Truth in Lending Act against defendant for refusing to refund a $500 deposit plaintiffs' demanded after they attempted to exercise their right to rescind prior to closing on a loan to refinance their house, summary judgment for defendant is affirmed as a consumer cannot exercise the right to rescind created by 15 U.S.C. section 1635(a) until after consummation of a consumer credit transaction.

Appellate Information

• Argued 10/29/2009
• Decided 02/05/2010
• Published 02/05/2010

Judges

• Before NIEMEYER and DUNCAN, Circuit Judges, and Benson E. LEGG, United States District Judge for the District of Maryland, sitting by designation.

Court

• United States Fourth Circuit

Counsel

• For Appellees:
  
• Anthony J. Brady, Jr., Maple Shade, New Jersey; Barry Weintraub, Stafford, Virginia, for Appellants. Michael R. Ward, Morris & Morris, Richmond, Virginia, for Appellee.