Section 1-209 - Regulation of extension of credit(a) Only the State may enact a law which purports to regulate extensions of credit made by a financial institution.(b) This section does not:(1) Affect federal law preemption of State law;(2) Restrict or otherwise affect local laws that establish property ownership or the rights and obligations of property owners;(3) Restrict or otherwise affect a local government's ability to regulate its fiscal, economic, or community development policy;(4) Restrict or otherwise affect a local government's ability to enact laws or adopt regulations relating to fair housing or other civil rights; or(5) Restrict or otherwise affect a local government's ability to establish or administer loan programs to assist residents with financial needs.