Curing a ROR Notice Violation

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Question:

We failed to give a timely right of rescission. How can a right to rescission notice violation be cured?

Answer:

The common perception, as this is purely a timing issue, is there is no cure. Some try and give a right of rescission after the fact, but you would have to research case law in your jurisdiction to see if it was ever ruled as effective.

First published on BankersOnline.com 5/04/09