§ 1691d. — Applicability of other laws.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC1691d]
TITLE 15--COMMERCE AND TRADE
CHAPTER 41--CONSUMER CREDIT PROTECTION
SUBCHAPTER IV--EQUAL CREDIT OPPORTUNITY
Sec. 1691d. Applicability of other laws
(a) Requests for signature of husband and wife for creation of valid
lien, etc.
A request for the signature of both parties to a marriage for the
purpose of creating a valid lien, passing clear title, waiving inchoate
rights to property, or assigning earnings, shall not constitute
discrimination under this subchapter: Provided, however, That this
provision shall not be construed to permit a creditor to take sex or
marital status into account in connection with the evaluation of
creditworthiness of any applicant.
(b) State property laws affecting creditworthiness
Consideration or application of State property laws directly or
indirectly affecting creditworthiness shall not constitute
discrimination for purposes of this subchapter.
(c) State laws prohibiting separate extension of consumer credit to
husband and wife
Any provision of State law which prohibits the separate extension of
consumer credit to each party to a marriage shall not apply in any case
where each party to a marriage voluntarily applies for separate credit
from the same creditor: Provided, That in any case where such a State
law is so preempted, each party to the marriage shall be solely
responsible for the debt so contracted.
(d) Combining credit accounts of husband and wife with same creditor to
determine permissible finance charges or loan ceilings under
Federal or State laws
When each party to a marriage separately and voluntarily applies for
and obtains separate credit accounts with the same creditor, those
accounts shall not be aggregated or otherwise combined for purposes of
determining permissible finance charges or permissible loan ceilings
under the laws of any State or of the United States.
(e) Election of remedies under subchapter or State law; nature of relief
determining applicability
Where the same act or omission constitutes a violation of this
subchapter and of applicable State law, a person aggrieved by such
conduct may bring a legal action to recover monetary damages either
under this subchapter or under such State law, but not both. This
election of remedies shall not apply to court actions in which the
relief sought does not include monetary damages or to administrative
actions.
(f) Compliance with inconsistent State laws; determination of
inconsistency
This subchapter does not annul, alter, or affect, or exempt any
person subject to the provisions of this subchapter from complying with,
the laws of any State with respect to credit discrimination, except to
the extent that those laws are inconsistent with any provision of this
subchapter, and then only to the extent of the inconsistency. The Board
is authorized to determine whether such inconsistencies exist. The Board
may not determine that any State law is inconsistent with any provision
of this subchapter if the Board determines that such law gives greater
protection to the applicant.
(g) Exemption by regulation of credit transactions covered by State law;
failure to comply with State law
The Board shall by regulation exempt from the requirements of
sections 1691 and 1691a of this title 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 subchapter or that such law gives greater
protection to the applicant, and that there is adequate provision for
enforcement. Failure to comply with any requirement of such State law in
any transaction so exempted shall constitute a violation of this
subchapter for the purposes of section 1691e of this title.
(Pub. L. 90-321, title VII, Sec. 705, as added Pub. L. 93-495, title V,
Sec. 503, Oct. 28, 1974, 88 Stat. 1523; amended Pub. L. 94-239, Sec. 5,
Mar. 23, 1976, 90 Stat. 253.)
Amendments
1976--Subsec. (e). Pub. L. 94-239, Sec. 5(1), substituted provisions
requiring an election of remedies in legal actions involving the
recovery of monetary damages, for provisions specifying a general
election of remedies.
Subsecs. (f), (g). Pub. L. 94-239, Sec. 5(2), added subsecs. (f) and
(g).
Effective Date of 1976 Amendment
Amendment by Pub. L. 94-239 effective Mar. 23, 1976, see section 708
of Pub. L. 90-321, set out as an Effective Date note under section 1691
of this title.
