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What is TILA Arbitration Case: Thompson v. Irwin about?
The plaintiffs, Elmore and Paula Thompson, obtained a $11,000 mortgage loan from defendant Irwin Union Bank & Trust Company that was later assigned to defendant Irwin Home Equity Corporation for servicing. The Thompsons claimed the defendants violated the Truth in Lending Act by failing to properly notify them of their right to rescind the loan. The defendants filed a motion to compel arbitration based on an arbitration clause in the loan agreement. The district court granted the motion and dismissed the ca
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