PRIA, Government Policy, Made Personal

Summary

State laws about consumer leases still apply unless they conflict with the rules in this part. The Bureau decides if a conflict exists, and it cannot find a conflict when the state law gives consumers more protection. The Bureau can, by rule, exempt a class of lease transactions in a state if the state law is basically the same or gives greater protection and the state enforces it adequately.

Title 15, §1667e

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 consumer leases, 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 and benefit to the consumer.

(b)The Bureau shall by regulation exempt from the requirements of this part any class of lease 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 and benefit to the consumer, and that there is adequate provision for enforcement.

Notes & Related Subsidiaries

Editorial Notes

Amendments

2010—Pub. L. 111–203, § 1100A(2), (10), substituted “Bureau” for “Board”, “the Bureau” for “the Board”, and “The Bureau” for “The Board” wherever appearing.

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.

§1667e Applicability of State Laws; Exemptions by Bureau From Leasing Requirements