Statute of Limitations for TILA Actions in Massachusetts

29 Sep Statute of Limitations for TILA Actions in Massachusetts

Massachusetts has adopted its own version of the Truth in Lending Act (TILA) known as the Massachusetts Consumer Credit Cost Disclosure Act (CCCDA). Although these acts are substantially similar, they contain different statutes of limitations for actions based on a lender’s failure to provide adequate disclosure of lending terms and borrowers’ rights in consumer credit transactions. TILA provides a one-year statute of limitations period for damages claims and a three-year limit for a consumer to seek to void, or “rescind” a transaction. CCCDA, however, provides a four-year statute of limitations period for both rescission and damages claims.

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