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U.S. Code as of:
01/19/04
Section 1610. Effect on other laws
(a) Inconsistent provisions; procedures applicable for
determination
(1) Except as provided in subsection (e) of this section, this
part and parts B and C of this subchapter, do not annul, alter, or
affect the laws of any State relating to the disclosure of
information in connection with credit transactions, except to the
extent that those laws are inconsistent with the provisions of this
subchapter and then only to the extent of the inconsistency. Upon
its own motion or upon the request of any creditor, State or other
interested party which is submitted in accordance with procedures
prescribed in regulations of the Board, the Board shall determine
whether any such inconsistency exists. If the Board determines that
a State-required disclosure is inconsistent, creditors located in
that State may not make disclosures using the inconsistent term or
form, and shall incur no liability under the law of that State for
failure to use such term or form, notwithstanding that such
determination is subsequently amended, rescinded, or determined by
judicial or other authority to be invalid for any reason.
(2) Upon its own motion or upon the request of any creditor,
State, or other interested party which is submitted in accordance
with procedures prescribed in regulations of the Board, the Board
shall determine whether any disclosure required under the law of
any State is substantially the same in meaning as a disclosure
required under this subchapter. If the Board determines that a
State-required disclosure is substantially the same in meaning as a
disclosure required by this subchapter, then creditors located in
that State may make such disclosure in compliance with such State
law in lieu of the disclosure required by this subchapter, except
that the annual percentage rate and finance charge shall be
disclosed as required by section 1632 of this title, and such
State-required disclosure may not be made in lieu of the
disclosures applicable to certain mortgages under section 1639 of
this title.
(b) State credit charge statutes
Except as provided in section 1639 of this title, this subchapter
does not otherwise annul, alter or affect in any manner the
meaning, scope or applicability of the laws of any State,
including, but not limited to, laws relating to the types, amounts
or rates of charges, or any element or elements of charges,
permissible under such laws in connection with the extension or use
of credit, nor does this subchapter extend the applicability of
those laws to any class of persons or transactions to which they
would not otherwise apply. The provisions of section 1639 of this
title do not annul, alter, or affect the applicability of the laws
of any State or exempt any person subject to the provisions of
section 1639 of this title from complying with the laws of any
State, with respect to the requirements for mortgages referred to
in section 1602(aa) of this title, except to the extent that those
State laws are inconsistent with any provisions of section 1639 of
this title, and then only to the extent of the inconsistency.
(c) Disclosure as evidence
In any action or proceeding in any court involving a consumer
credit sale, the disclosure of the annual percentage rate as
required under this subchapter in connection with that sale may not
be received as evidence that the sale was a loan or any type of
transaction other than a credit sale.
(d) Contract or other obligations under State or Federal law
Except as specified in sections 1635, 1640, and 1666e of this
title, this subchapter and the regulations issued thereunder do not
affect the validity or enforceability of any contract or obligation
under State or Federal law.
(e) Certain credit and charge card application and solicitation
disclosure provisions
The provisions of subsection (c) of section 1632 of this title
and subsections (c), (d), (e), and (f) of section 1637 of this
title shall supersede any provision of the law of any State
relating to the disclosure of information in any credit or charge
card application or solicitation which is subject to the
requirements of section 1637(c) of this title or any renewal notice
which is subject to the requirements of section 1637(d) of this
title, except that any State may employ or establish State laws for
the purpose of enforcing the requirements of such sections.
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