12 U.S.C. § 2711
Notwithstanding any provision of law which limits the nature, amount, term, form, or rate of interest, or the nature, amount, or form of security of loans or advances of credit, loans, or advances of credit may be made in accordance with the provisions of this chapter without regard to such provision of law.
12 U.S.C. § 2711
EDITORIAL NOTES
PRIOR PROVISIONSA prior section 110 of Pub. L. 94-50 which related to waiver and relaxation by institutions and approved mortgagees of limitations with respect to mortgage delinquencies; notification to Federal supervisory agency prior to foreclosure proceedings, was classified to section 2709 of this title prior to repeal by Pub. L. 111-203, title XIV, §1496(b)(7), July 21, 2010, 124 Stat. 2209.
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE OF 2010 AMENDMENT Amendment of section by renumbering section 112 of Pub. L. 94-50 as section 110 of Pub. L. 94-50 effective on the date on which final regulations implementing such amendment take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date, see section 1400(c) of Pub. L. 111-203 set out as a note under section 1601 of Title 15, Commerce and Trade.
- credit
- The term "credit" means the right granted by a person to a consumer to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment for such purchase.
- designated transfer date
- The term "designated transfer date" means the date established under section 5582 of this title.