This Regulation Z: Right of Rescission online training course explores the right of rescission is a right, set forth by Regulation Z, the Truth in Lending Act, which allows a borrower to cancel a home equity loan or line of credit with a lender within three days of closing. The right is provided on a no-questions-asked basis, and the lender must give up its claim to the property and refund all fees. The regulation requires banks to provide specific notices to consumers at the time of consummation of a covered loan transaction.
Course Learning Objectives
By taking this online Regulation Z: Right of Rescission course, the user will learn:
- Know what types of loans a consumer has the right to rescind
- Understand what notices to provide to customers and the ramifications of not doing so
- Deliver the appropriate notices and funds in the appropriate time frames
This online Regulation Z: Right of Rescission course is made up of the following sections:
- Loan Transactions
- What is provided
This Regulation Z: Right of Rescission online training course was designed for bank employees.
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