Belini诉华盛顿互惠银行案(美国)

pd4mlevaluationcopy.visit://pd4ml.comFORTHEDISTRICTOFMASSACHUSETTS[Hon.MichaelA.Ponsor,U.S.DistrictJudge]BeforeBoudin,ChiefJudge,LynchandLipez,CircuitJudges.ChristopherM.Lefebvre,withwhomFamilyandConsumerLawCenterwasonbrief,forappellant.KevinC.Maynard,withwhomBulkley,RichardsonandGelinas,LLPwasonbrief,forappellee.June15,2005pd4mlevaluationcopy.visit(TILA)caseraisesdifficultandrarelyseenissuesthatarisewhentransactionsregulatedbyagivenstate--here,Massachusetts--havebeenexemptedbytheFederalReservefrommostoftheActsrequirements.See15U.S.C.?1633;seealsoBizierv.GlobeFin.Servs.,Inc.,654F.2d1,2(1stCir.1981).Onlyfivestateshavereceivedsuchexemptions.See12C.F.R.Pt.226,Supp.I.Intheend,however,thiscaseturnsonanarrowerissue,oneoffirstimpressionforthiscourtunderTILA.ThequestioniswhetherTILApermitsadamagesclaimtobestatedbythedebtorunder15U.S.C.?1640basedonthecreditorsallegedfailuretorespondproperlytothedebtorsnoticeofrescission.Weholdthatitdoes.Indoingso,wejointheapproachoffourothercircuits,andweknowofnocircuitwhichhasheldtothecontrary.Theplaintiffs,RichardandTheresaBelini,allegedthatthedefendant,WashingtonMutualBank,soldthemahigh-costmortgagewithoutmakingdisclosuresrequiredbyTILAandequivalentMassachusettslaw.Theysuedinfederalcourt,assertingclaimsfordamagesforfailuretomakethesedisclosures,forrescission,andfordamagesforWashingtonMutualsallegedfailuretorespondproperlytotheirnoticeofrescission,underbothTILAandsimilarMassachusettslaw.ThedistrictcourtheldthatalloftheBelinisdamagesclaimsweretimebarred,withoutdiscussingseparatelytheirclaimforWashingtonMutualsallegedfailuretorespondtotheirnoticeofrescission.Thislefttherescissionclaimitselfandthequestionofwhethertherewaseitherfederalquestionjurisdictionordiversityjurisdiction.Thecourtfoundthattheamount-in-controversyrequirementwasnotmet,sotherewasnodiversityjurisdiction,andthattherewasnofederalquestionjurisdictionoveraclaimforrescission(asopposedtoaclaimfordamages)becauseoftheMassachusettsexemptionfromcertainTILArequirements.AlthoughitisclearfromtheFederalReserveregulationsthatadebtorsabilitytobringafederaldamagesactionunder15U.S.C.?1640ispreserveddespitetheMassachusettsexemption,see12C.F.R.?226.29(b),itismuchmurkier,giventhecurrentdraftingoftheseregulations,whetheradebtorsrighttosueforrescissionunderfederallawispreserved.Similarly,thequestionofhowtomeasuretheamountincontroversyinanactionforrescissionisdifficult.Wereverse.Wefinditunnecessarytoresolvethedifficultquestionofwhetherthefederalcourthadeitherfederalquestionjurisdictionordiversityjurisdictionovertherescissionclaim,becausewefindthattheBelinishaveaviable,non-time-barredfederaldamagesclaimunderTILAbasedonthedefendantsallegedfailuretorespondproperlytotheBelinisnoticeofrescission.Thisdamagesclaimprovidesabasisforfederalquestionjurisdiction.ThatmeansthattheBelinisclaimforrescission,whichhasvirtuallyidenticalelementsunderTILAandMassachusettslaw,iswithinthecourtssupplementaljurisdiction.Thiscasedoesnotfallintoacategorythatwouldrenderthedistrictcourtsexerciseofsupplementaljurisdictiondiscretionary.I.pd4mlevaluationcopy.visit(a).TheActrequirescreditorstomakeclearandaccuratedisclosuresoftermsdealingwiththingslikefinancecharges,annualpercentageratesofinterest,andtheborrowersrights.Beachv.OcwenFed.Bank,523U.S.410,412(1998).Ifthecreditorfailstodoso,itcanbeheldliableforcriminalpenalties,see15U.S.C.?1611,andadebtorcansuefordamages(includingastatutorypenaltyoftwicethefinancecharge),see15U.S.C.?1640(a).Beach,523U.S.at412.Further,forcertainloantransactions--thoseinvolvingsecurityinterestsinadebtorsprimaryresidence--thedebtorcandemandthatthecreditorrescindthemortgageifcertainmaterialdisclosuresarenotmade.See15U.S.C.?1635(a).Ifthecreditordoesnottakestepstodosowithintwentydays,thedebtorcanbringsuitinfederalcourttoenforceherrightofrescission.Id.?1635(b).SeveralagencieshaveadministrativeauthorityunderTILA,buttherelevantimplementingagencyforourpurposesistheFederalReserve,whichhaspromulgatedasetofregulations(RegulationZ)inthisarea.See12C.F.R.Pt.226.TheFederalReservecanallowexemptionsfromsomefederalrequirementsifitfindsthatastatehasadequatelyregulatedinthearea:The[FederalReserve]shallbyregulationexemptfromtherequirementsofthispartanyclassofcredittransactionswithinanyStateifitdeterminesthatunderthelawofthatStatethatclassoftransactionsissubjecttorequirementssubstantiallysimilartothoseimposedunde