The law › Title 12, Banks and Banking › Chapter 13

12 U.S.C. 1735f-7a: State constitution or laws limiting mortgage interest, discount points, and finance or other charges; exemption for obligations made after March 31, 1980

Created in 1980 by Public Law 96-221. Changed by 2 later laws. No bill we track in this Congress changes it.

1 part of federal rules cite it as their authority, written by Comptroller of the Currency, Department of the Treasury (1).

How it got hereLaws that created or changed it, newest first

1981Pub. L. 97-35

1980Pub. L. 96-399

1980Pub. L. 96-221created it

12 U.S.C. 1735f-7aState constitution or laws limiting mortgage interest, discount points, and finance or other charges; exemption for obligations made after March 31, 1980

(a)Applicability to loan, mortgage, credit sale, or advance; applicability to deposit, account, or obligation

(b)Applicability to loan, mortgage, credit sale, or advance made in any State after April 1, 1980

(c)Applicability to loan, mortgage, credit sale, or advance secured by first lien on residential manufactured home

(d)Implementation of provisions applicable to residential manufactured home

(e)Definitions

(f)Rules, regulations, and interpretations

(g)Effective date

This CongressBills that change it or would

None we track

past change
enacted this Congress
proposed

This Congress

No bill we track in the 119th Congress changes this section.

How it got here

1981

Pub. L. 97–35 inserted reference to a residential manufactured home. · (a)

1980

Pub. L. 96–399, §324(a), substituted "all stock allocated to a dwelling unit" for first reference to "stock" and struck out "where the loan, mortgage, or advance is used to finance the acquisition of such stock" after "housing corporation". · (a)
Pub. L. 96–399, §324(e), inserted reference to any person who finances the sale or exchange of residential real property which such individual owns and which such individual occupies or has occupied as his principal residence. · (a)
Pub. L. 96–221, §207(b)(11), struck out "(A)" after "(2)" and struck out subpar. (B) which provided that this paragraph shall not apply to any such deposit, account, or obligation which is payable only at an office of an insured bank, as defined in section 3 of the Federal Deposit I… · (a)
Pub. L. 96–399, §308(c)(6), substituted "manufactured" for "mobile". · (e)

Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.