Hastings Business Law Journal


This paper analyzes federal law on the issue of whether consumers of mortgage products can sue as a class to rescind a mortgage loan under the Truth in Lending Act. Embedded in this question are deeper economic issues about the cost and availability of credit in the United States, and about who should bear the risk of faulty mortgage disclosures. The Truth in Lending Act governs these matters as an existing statutory scheme that provides pre-bankruptcy and pre-default remedies to consumers of credit.