
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 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.
