Rosenfield v. HSBC Bank, USA, 681 F.3d 1172

Borrower Rosenfield refinanced a Denver home in 2006 with Ownit; HSBC later held the loan after assignment.
Rosenfield sent a written Notice of Rescission on September 9, 2008 alleging TILA disclosure violations.
Foreclosure proceedings were initiated by HSBC on July 9, 2009 under Colorado Rule 120 proceedings.
Rosenfield filed suit in December 2009 seeking declaratory and injunctive relief to enforce rescission.
District court dismissed the complaint on August 31, 2010 as time-barred under TILA §1635(f) and alternative §1640(a).
Beach v. Ocwen Federal Bank held §1635(f) is a statute of repose extinguishing rights after three years.

Issue	Plaintiff's Argument	Defendant's Argument	Held
Whether written rescission notice within three years preserves rights.	Rosenfield asserts notice alone preserves rescission.	HSBC argues Beach treats §1635(f) as a repose, not tolled by notice.	Not preserved; three-year repose expired; notice alone insufficient.
Whether asserting rescission as a Rule 120 defense preserves rights.	Rosenfield contends Rule 120 defense preserved rescission rights.	Rule 120 defense is not equivalent to a civil rescission action.	Rule 120 defense does not preserve TILA rescission rights; amendment futile.
Whether §1640 one-year limitations barred the TILA claims if rescission viable.	Rosenfield contends limitations may apply differently if rescission was viable.	Court need not reach §1640 issue if rescission rights extinguished by §1635(f).	Not reached; rescission rights extinguished under §1635(f).

Beach v. Ocwen Fed. Bank, 523 U.S. 410 (U.S. 1998) (rescission right extinguished after 3-year repose)
Saxon Mortg. Servs., Inc. v. Jones, 537 F.3d 324 (4th Cir. 2008) (§1635(f) is a statute of repose; rescission must be sought within 3 years)
McOmie-Gray v. Bank of Am., 667 F.3d 1328 (9th Cir. 2012) (rescission claims must be filed within 3-year repose)