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U.S. Code as of:
01/19/04
Section 1612. Effect on government agencies
(a) Consultation requirements respecting compliance of credit
instruments issued to participating creditor
Any department or agency of the United States which administers a
credit program in which it extends, insures, or guarantees consumer
credit and in which it provides instruments to a creditor which
contain any disclosures required by this subchapter shall, prior to
the issuance or continued use of such instruments, consult with the
Board to assure that such instruments comply with this subchapter.
(b) Inapplicability of Federal civil or criminal penalties to
Federal, State, and local agencies
No civil or criminal penalty provided under this subchapter for
any violation thereof may be imposed upon the United States or any
department or agency thereof, or upon any State or political
subdivision thereof, or any agency of any State of political
subdivision.
(c) Inapplicability of Federal civil or criminal penalties to
participating creditor where violating instrument issued by
United States
A creditor participating in a credit program administered,
insured, or guaranteed by any department or agency or the United
States shall not be held liable for a civil or criminal penalty
under this subchapter in any case in which the violation results
from the use of an instrument required by any such department or
agency.
(d) Applicability of State penalties to violations by participating
creditor
A creditor participating in a credit program administered,
insured, or guaranteed by any department or agency of the United
States shall not be held liable for a civil or criminal penalty
under the laws of any State (other than laws determined under
section 1610 of this title to be inconsistent with this subchapter)
for any technical or procedural failure, such as a failure to use a
specific form, to make information available at a specific place on
an instrument, or to use a specific typeface, as required by State
law, which is caused by the use of an instrument required to be
used by such department or agency.
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