{"identifier":"/us/usc/t15/s1649","title":15,"num":"\u00a7\u202f1649.","heading":"Certain limitations on liability","text":"\u00a7\u202f1649.\nCertain limitations on liability\n(a)\nLimitations on liability\nFor any closed end consumer credit transaction that is secured by real property or a dwelling, that is subject to this subchapter, and that is consummated before\n(1) the creditor\u2019s treatment, for disclosure purposes, of\u2014\n(A) taxes described in\nsection 1605(d)(3) of this title\n(B) fees described in section 1605(e)(2) and (5) of this title;\n(C) fees and amounts referred to in the 3rd sentence of\nsection 1605(a) of this title\n(D) borrower-paid mortgage broker fees referred to in\nsection 1605(a)(6) of this title\n(2) the form of written notice used by the creditor to inform the obligor of the rights of the obligor under\nsection 1635 of this title\n(3) any disclosure relating to the finance charge imposed with respect to the transaction if the amount or percentage actually disclosed\u2014\n(A) may be treated as accurate for purposes of this subchapter if the amount disclosed as the finance charge does not vary from the actual finance charge by more than $200;\n(B) may, under\nsection 1605(f)(2) of this title\nsection 1635 of this title\n(C) is greater than the amount or percentage required to be disclosed under this subchapter.\n(b)\nExceptions\nSubsection (a) shall not apply to\u2014\n(1) any individual action or counterclaim brought under this subchapter which was filed before\nJune 1, 1995\n(2) any class action brought under this subchapter for which a final order certifying a class was entered before\nJanuary 1, 1995\n(3) the named individual plaintiffs in any class action brought under this subchapter which was filed before\nJune 1, 1995\n(4) any consumer credit transaction with respect to which a timely notice of rescission was sent to the creditor before\nJune 1, 1995","url":"https://projectusc.org/usc/t15/s1649.html","content":[{"t":"sec","id":"/us/usc/t15/s1649","children":[{"t":"num","text":"\u00a7\u202f1649."},{"t":"heading","text":"Certain limitations on liability"},{"t":"subsec","id":"/us/usc/t15/s1649/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Limitations on liability"},{"t":"chapeau","text":"For any closed end consumer credit transaction that is secured by real property or a dwelling, that is subject to this subchapter, and that is consummated before ","children":[{"t":"text","text":"September 30, 1995","tail":", a creditor or any assignee of a creditor shall have no civil, administrative, or criminal liability under this subchapter for, and a consumer shall have no extended rescission rights under "},{"t":"ref","text":"section 1635(f) of this title","href":"/us/usc/t15/s1635/f","tail":" with respect to\u2014"}]},{"t":"para","id":"/us/usc/t15/s1649/a/1","children":[{"t":"num","text":"(1)"},{"t":"chapeau","text":" the creditor\u2019s treatment, for disclosure purposes, of\u2014"},{"t":"subpara","id":"/us/usc/t15/s1649/a/1/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" taxes described in ","children":[{"t":"ref","text":"section 1605(d)(3) of this title","href":"/us/usc/t15/s1605/d/3","tail":";"}],"tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t15/s1649/a/1/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" fees described in section 1605(e)(2) and (5) of this title;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t15/s1649/a/1/C","children":[{"t":"num","text":"(C)"},{"t":"content","text":" fees and amounts referred to in the 3rd sentence of ","children":[{"t":"ref","text":"section 1605(a) of this title","href":"/us/usc/t15/s1605/a","tail":"; or"}],"tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t15/s1649/a/1/D","children":[{"t":"num","text":"(D)"},{"t":"content","text":" borrower-paid mortgage broker fees referred to in ","children":[{"t":"ref","text":"section 1605(a)(6) of this title","href":"/us/usc/t15/s1605/a/6","tail":";"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1649/a/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" the form of written notice used by the creditor to inform the obligor of the rights of the obligor under ","children":[{"t":"ref","text":"section 1635 of this title","href":"/us/usc/t15/s1635","tail":" 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"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1649/a/3","children":[{"t":"num","text":"(3)"},{"t":"chapeau","text":" any disclosure relating to the finance charge imposed with respect to the transaction if the amount or percentage actually disclosed\u2014"},{"t":"subpara","id":"/us/usc/t15/s1649/a/3/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" may be treated as accurate for purposes of this subchapter if the amount disclosed as the finance charge does not vary from the actual finance charge by more than $200;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t15/s1649/a/3/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" may, under ","children":[{"t":"ref","text":"section 1605(f)(2) of this title","href":"/us/usc/t15/s1605/f/2","tail":", be treated as accurate for purposes of "},{"t":"ref","text":"section 1635 of this title","href":"/us/usc/t15/s1635","tail":"; or"}],"tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t15/s1649/a/3/C","children":[{"t":"num","text":"(C)"},{"t":"content","text":" is greater than the amount or percentage required to be disclosed under this subchapter.","tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t15/s1649/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Exceptions"},{"t":"chapeau","text":"Subsection (a) shall not apply to\u2014"},{"t":"para","id":"/us/usc/t15/s1649/b/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" any individual action or counterclaim brought under this subchapter which was filed before ","children":[{"t":"text","text":"June 1, 1995","tail":";"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1649/b/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" any class action brought under this subchapter for which a final order certifying a class was entered before ","children":[{"t":"text","text":"January 1, 1995","tail":";"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1649/b/3","children":[{"t":"num","text":"(3)"},{"t":"content","text":" the named individual plaintiffs in any class action brought under this subchapter which was filed before ","children":[{"t":"text","text":"June 1, 1995","tail":"; or"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1649/b/4","children":[{"t":"num","text":"(4)"},{"t":"content","text":" any consumer credit transaction with respect to which a timely notice of rescission was sent to the creditor before ","children":[{"t":"text","text":"June 1, 1995","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}