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12 C.F.R. § 226.2

Section 226.2 - Definitions and rules of construction
Section 226.2 - Definitions and rules of construction

1 Analyses of this regulation by attorneys

  1. Eleventh Circuit Clarifies Meaning of Consummation of Transaction in Dismissing Borrowers’ TILA Right of Rescission Claim

    Blank Rome LLPAnthony YanezAugust 23, 2017

    12 C.F.R. § 226.1(a); 12 C.F.R. § 226.2(13). “Under TILA, a debtor may rescind amortgage‘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 . . . .’” Smith v. Highland Bank, 108 F.3d 1325, 1326 (11th Cir. 1997) (per curiam) (quoting15 U.S.C. § 1635(a)).