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The law › Title 15, Commerce and Trade › Chapter 41

15 U.S.C. 1635: Right of rescission as to certain transactions

Created in 1968 by Public Law 90-321. Changed by 5 later laws. No bill we track in this Congress changes it.

7 other sections of the Code cite this one, including 12 U.S.C. 2604, 15 U.S.C. 1605, 15 U.S.C. 1631, 15 U.S.C. 1639, 15 U.S.C. 1640.

This Congress

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

    How it got here

    2010

    • Pub. L. 111–203 substituted "Bureau" for "Board" wherever appearing. (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (a), (d), (h), (i)

    1995

    • Pub. L. 104–29, §5, added subsec. (h). Law text · (h)
    • Pub. L. 104–29, §8, added subsec. (i). Law text · (i)

    1984

    • Pub. L. 98–479 redesignated par. (1) as subsec. (e), redesignated subpars. (A), (B), (C), and (D) of par. (1) as pars. (1), (2), (3), and (4), respectively, and struck out par. (2) which read as follows: "The provisions of paragraph (1)(D) shall cease to be effective 3 years after the … · (e)

    1980

    • Pub. L. 96–221, §612(a)(1), substituted provisions relating to the right of rescission until midnight of the third business day following the consummation of the transaction or the delivery of the information and rescission forms required together with the statement containing the mate… · (a)
    • Pub. L. 96–221, §612(a)(3), (4), inserted provisions setting forth applicability of procedures prescribed by this subsection, and substituted "20" for "ten" in two places. · (b)
    • Pub. L. 96–221, §612(a)(5), inserted "information, forms, and" after "whom". · (c)
    • Pub. L. 96–221, §612(a)(6), substituted provisions relating to nonapplicability to residential mortgage transactions, refinancing or consolidation transactions, etc., for provisions relating to nonapplicability to creation or retention of first liens. · (e)
    • Pub. L. 96–221, §612(a)(6), substituted provisions setting forth duration of right of rescission where the required information and forms or other disclosures required under this part have not been delivered to the obligor, and exceptions to such term, for provisions setting forth dura… · (f)
    • Pub. L. 96–221, §612(a)(6), added subsec. (g). · (g)

    1974

    • Pub. L. 93–495, §404, inserted provisions relating to security interest arising by operation of law. · (a), (b)
    • Pub. L. 93–495, §412, inserted exemption for consumer credit transactions where a State agency is the creditor. · (e)
    • Pub. L. 93–495, §405, added subsec. (f). · (f)

    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.