Csoka et al v. Bank of America, N.A. et al

Filing 23

MEMORANDUM OPINION and ORDER. ORDERED that Defendant Bank of America's Motion to Dismiss for Failure to State a Claim 8 is GRANTED without prejudice; that the Court GRANTS Plaintiff LEAVE TO AMEND, but Plaintiffs are to file an Amended Complaint, if any, no later than 15 days of this Order. Signed by District Judge Gerald Bruce Lee on 1/21/2016. (rban, )

Download PDF
IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF VIRGINIA ALEXANDRIA DIVISION JOHN CSOKA and JUDITH CSOKA, Plaintiffs, Case No. 1:15-cv-0876-GBL-IDD V. BANK OF AMERICA, N.A., Defendant. MEMORANDUM OPINION AND ORDER THIS MATTER is before the court on Defendant Bank of America's Motion to Dismiss for Failure to State a Claim (Doc. 8). This case concerns Plaintiffs' attempt to rescind their consumer loan with Defendant in light of recent Supreme Court case law. The issue presented is whether, given the Supreme Court's recent ruling in Jesinoski v. Countrywide Home Loans, Inc., Plaintiffs have stated a claim for enforcement of a rescission of a consumer loan refinance transaction, given that Plaintiffs sent Defendant a written notice of rescission, but have not alleged any facts stating Defendant has breached its disclosure requirements to Plaintiff, thus entitling Plaintiffs to rescission. The Court GRANTS Defendant's Motion to Dismiss because although Jesinoski held that a borrower need not sue to exercise its rescission, but can simply send a notice to the creditor that it intends to rescind, a borrower's notice of rescission must still follow the procedures outlined under the Truth in Lending Act ("TILA"), requiring the rescission to either be within the first three days of the loan transaction or within three years if the lender has failed to provide the

Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. These filings and docket sheets should not be considered findings of fact or liability, nor do they necessarily reflect the view of Justia.


Why Is My Information Online?