The Bureau shall by regulation exempt from the requirements of this part any class of credit transactions within any State if it determines that under the law of that State that class of transactions is subject to requirements substantially similar to those imposed under this part, and that there is adequate provision for enforcement.
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15 U.S. Code § 1633 - Exemption for State-regulated transactions
2010—Pub. L. 111–203 substituted “Bureau” for “Board”.
Statutory Notes and Related Subsidiaries