§1666j — Title 15 Commerce and Trade | U.S. Code

Summary

State credit-billing rules still apply to people covered by the federal rules unless a state law actually conflicts with a federal rule. The Bureau can decide if a conflict exists. The Bureau cannot say a state law conflicts if the state law gives stronger protection to consumers. The Bureau must make rules to exempt whole types of credit transactions in a state when the state’s rules are basically the same or stronger and the state can enforce them. Any discount under section 1666f(b) is not counted as a finance charge or other credit charge under state usury or credit disclosure laws or rules about permitted charges.

Title 15, §1666j

Commerce and Trade — Source: USLM XML via OLRC

(a)This part does not annul, alter, or affect, or exempt any person subject to the provisions of this part from complying with, the laws of any State with respect to credit billing practices, except to the extent that those laws are inconsistent with any provision of this part, and then only to the extent of the inconsistency. The Bureau is authorized to determine whether such inconsistencies exist. The Bureau may not determine that any State law is inconsistent with any provision of this part if the Bureau determines that such law gives greater protection to the consumer.

(b)The Bureau shall by regulation exempt from the requirements of this part any class of credit transactions within any State if it determines that under the law of that State that class of transactions is subject to requirements substantially similar to those imposed under this part or that such law gives greater protection to the consumer, and that there is adequate provision for enforcement.

(c)Notwithstanding any other provisions of this subchapter, any discount offered under section 1666f(b) of this title shall not be considered a finance charge or other charge for credit under the usury laws of any State or under the laws of any State relating to disclosure of information in connection with credit transactions, or relating to the types, amounts or rates of charges, or to any element or elements of charges permissible under such laws in connection with the extension or use of credit.

Notes & Related Subsidiaries

Editorial Notes

Codification Pub L. 111–203, § 1100A(2), which directed the substitution of “Bureau” for “Board” wherever appearing in title I of Pub. L. 90–321, was executed to this section, which is section 173 of title I of Pub. L. 90–321. section 1087 of Pub. L. 111–203, which directed the making of an identical amendment in title III of Pub. L. 93–495, which added this section to title I of Pub. L. 90–321, has not been executed.

Amendments

2010—Subsecs. (a), (b). Pub. L. 111–203, § 1100A(2), substituted “Bureau” for “Board” wherever appearing. See Codification note above. 1976—Subsec. (c). Pub. L. 94–222 added subsec. (c).

Statutory Notes and Related Subsidiaries

Effective Date

of 2010 AmendmentAmendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

§1666j Applicability of State laws