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Code · STATUTE-COMPILATIONS · safeguard the consumer in connection with the utilization of credit by requiring full disclosure of the terms and conditions of finance charges in credit transactions or in offers to extend credit; by · Sec. 139

Sec. 139. CERTAIN LIMITATIONS ON LIABILITY

386 words·~2 min read·/statute-compilations/comps-260/sec-139

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## SEC. 139 CERTAIN LIMITATIONS ON LIABILITY **[**[15 U.S.C. 1649](/us/usc/t15/s1649)**]** ###
(a)Limitations on Liability For any closed end consumer credit transaction that is secured by real property or a dwelling, that is subject to this title, and that is consummated before the date of the enactment of the Truth in Lending Act Amendments of 1995, a creditor or any assignee of a creditor shall have no civil, administrative, or criminal liability under this title for, and a consumer shall have no extended rescission rights under section 125(f) with respect to— ####
(1)the creditor's treatment, for disclosure purposes, of— #####
(A)taxes described in section 106(d)(3); #####
(B)fees described in section 106(e)(2) and (5); #####
(C)fees and amounts referred to in the 3rd sentence of section 106(a); or #####
(D)borrower-paid mortgage broker fees referred to in section 106(a)(6); ####
(2)the form of written notice used by the creditor to inform the obligor of the rights of the obligor under section 125 if the creditor provided the obligor with a properly dated form of written notice published and adopted by the Bureau or a comparable written notice, and otherwise complied with all the requirements of this section regarding notice; or ####
(3)any disclosure relating to the finance charge imposed with respect to the transaction if the amount or percentage actually disclosed— #####
(A)may be treated as accurate for purposes of this title if the amount disclosed as the finance charge does not vary from the actual finance charge by more than $200; #####
(B)may, under section 106(f)(2), be treated as accurate for purposes of section 125; or #####
(C)is greater than the amount or percentage required to be disclosed under this title. ###
(b)Exceptions Subsection
(a)shall not apply to— ####
(1)any individual action or counterclaim brought under this title which was filed before June 1, 1995; ####
(2)any class action brought under this title for which a final order certifying a class was entered before January 1, 1995; ####
(3)the named individual plaintiffs in any class action brought under this title which was filed before June 1, 1995; or ####
(4)any consumer credit transaction with respect to which a timely notice of rescission was sent to the creditor before June 1, 1995.
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Sec. 139
CERTAIN LIMITATIONS ON LIABILITY
U.S.C.§ 1649
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