The question presented in this appeal is NOT what lower courts have assumed, whether a TILA rescission such as Marquis' rescission of her mortgage loan was "valid" when mailed. TILA states that rescission is "effective upon notice" by "operation of law", which indicates rescission becomes effective when notice is given, subject only to a challenge in a lawsuit filed by a party with standing to invalidate it. Does a court have jurisdiction to rule, as happened in Marquis' case, that a rescission is not "effective upon notice", absent a lender lawsuit timely filed claiming it is not?

Whether a court has jurisdiction to rule that a TILA rescission is not 'effective upon notice', absent a lender lawsuit timely filed claiming it is not