47-14-125 - Compliance with federal Consumer Credit Protection Act. - Tennessee Statutes

47-14-125. Compliance with federal Consumer Credit Protection Act.

(a)  Compliance with the requirements of the Consumer Credit Protection Act, being Public Law 90-321; 82 Stat. 146 et seq., commonly referred to as the federal “Truth in Lending Act,” shall be deemed compliance with any requirements of the statutes of Tennessee relating to the disclosure of information in connection with credit transactions.

(b)  A credit transaction which is deemed in compliance with the statutes of Tennessee pursuant to subsection (a) shall also be deemed to be a credit transaction which is specifically authorized under the laws of this state and the United States for purposes of application of § 47-18-111(a)(1) to any action brought under the provisions of title 47, chapter 18, part 1, with respect to disclosure or lack of disclosure of information in connection with such credit transaction.

[Acts 1969, ch. 235, § 1; T.C.A. § 47-14-119; Acts 2001, ch. 162, § 1.]