Truth in Lending Act

The Truth in Lending Act is a federal statute that protects consumers in credit transactions by requiring disclosure of terms and costs. The text of this statute is provided as general information to the public. It may be amended, revised, or rescinded at any time without notice. This information is not intended to be legal advice. For more information, please see our disclaimer.

15 U.S.C. § 1610. Effect on other laws

(a) Inconsistent provisions; procedures applicable for determination.
(1) Except as provided in subsection (e), chapters 1, 2, and 3 [15 USCS §§ 1601 et seq., 1631 et seq., and 1661 et seq.] 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 title [15 USCS §§ 1601 et seq.], 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of that State for failure to use such term or form, notwithstanding that such determination is subsequently amended, rescinded, or determined by judicial or other authority to be invalid for any reason.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 title [15 USCS §§ 1601 et seq.]. If the Board determines that a State-required disclosure is substantially the same in meaning as a disclosure required by this title [15 USCS §§ 1601 et seq.], then creditors located in that State may make such disclosure in compliance with such State law in lieu of the disclosure required by this title [15 USCS §§ 1601 et seq.], except that the annual percentage rate and finance charge shall be disclosed as required by section 122 [15 USCS § 1632], and such State-required disclosure may not be made in lieu of the disclosures applicable to certain mortgages under section 129 [15 USCS § 1639].

(b) State credit charge statutes. Except as provided in section 129 [15 USCS § 1639], this title [15 USCS §§ 1601 et seq.] 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 charges, permissible under such laws in connection with the extension or use of credit, nor does this title [15 USCS §§ 1601 et seq.] extend the applicability of those laws to any class of persons or transactions to which they would not otherwise apply. The provisions of section 129 [15 USCS § 1639] do not annul, alter, or affect the applicability of the laws of any State or exempt any person subject to the provisions of section 129 [15 USCS § 1639] from complying with the laws of any State, with respect to the requirements for mortgages referred to in section 103(aa) [15 USCS § 1602(aa)], except to the extent that those State laws are inconsistent with any provisions of section 129 [15 USCS § 1639], 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 title [15 USCS §§ 1601 et seq.] 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 125, 130, and 166 [15 USCS §§ 1635, 1640, and 1666e], this title [15 USCS §§ 1601 et seq.] 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 122 [15 USCS § 1632(c)] and subsections (c), (d), (e), and (f) of section 127 [15 USCS § 1637(c), (d), (e), and (f)] 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 127(c) [15 USCS § 1637(c)] or any renewal notice which is subject to the requirements of section 127(d) [15 USCS § 1637(d)], except that any State may employ or establish State laws for the purpose of enforcing the requirements of such sections.