(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.

Terms Used In Tennessee Code 47-14-125

  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
  • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(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 Tennessee Consumer Protection Act of 1977, compiled in chapter 18, part 1 of this title, with respect to disclosure or lack of disclosure of information in connection with such credit transaction.
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