US Supreme Court Says You Have 3 Years To Rescind By Sending Notice Under TILA

Jesinoski v. Countrywide Home Loans, Inc.

Holding: A borrower exercising his right to rescind under the Truth in Lending Act need only provide written notice to his lender within the three-year period; the statute does not require him to file suit within that period.

Judgment: Reversed and remanded, 9-0, in an opinion by Justice Scalia on January 13, 2015.
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The Supreme Court just held that TILA rescission is accomplished with notice alone

Opinion analysis: Shortest opinion of the year explains TILA rescission right