Supreme Court of the United States: Reversed the judgment of the Eighth Circuit and remand the case for further proceedings



Justice Scalia, J., delivered the opinion for a unanimous Court.

The Court held that the Truth in Lending Act gives borrowers the right to rescind certain loans up to three years after the transaction is consummated. The question presented is whether a borrower exercises this right by providing written notice to his lender, or whether he must also file a lawsuit before the 3-year period elapses.


What does this mean? The Jesinoksi’s have the opportunity to cancel the loan they obtained from Countrywide Home Loans, Inc.


How does this effect business today? A business that offers mortgage loans are required to provide the correct notices to their borrowers or face huge losses.


Do I agree with this decision? Yes, obtaining a mortgage loan is a huge deal and having buyers’ remorse can be one of the worst things especially when it comes to thousands of dollars. Having the ability to have 3 days to review your documents and ensure you understand what you’re getting yourself into is something I totally agree with. If the company fails to provide the required disclosures, this law allows the consumer to rescind the transaction. This is a way to make sure mortgage companies are doing what they are supposed to by disclosing the necessary information and ensure there is no hidden information that the ordinary person, not trained in mortgages, would not understand.






1. [Jesinoski Et Ux v. Countrywide Home Loans, Inc], 574 US _____ 2015, retrieved from   13-684 Jesinoski v. Countrywide Home Loans, Inc. (01/13/2015) (

2. Consumer Financial Protection Bureau. Retrieved February 15, 2022. Truth in Lending.  Truth in Lending Act (TILA) examination procedures | Consumer Financial Protection Bureau (