Sec. 2. Limits on annual percentage rates
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Chapter 2 of the Truth in Lending Act ( 15 U.S.C. 1631 et seq. ) is amended by adding at the end the following: Notwithstanding any other provision of law, the annual percentage rate applicable to any consumer credit transaction (other than a residential mortgage transaction), including any fees associated with such a transaction, may not exceed the maximum rate permitted by the laws of the State in which the consumer resides. .
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Sec. 2
Limits on annual percentage rates
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