---
kind: "section"
citation: "12 C.F.R. § 1026.29"
title: "12"
number: "1026.29"
heading: "State exemptions."
url: "https://uscodex.org/cfr/12/1026.29"
---

# §1026.29. State exemptions.

- (a) **General rule.** Any state may apply to the Bureau to exempt a class of transactions within the state from the requirements of chapter 2 (Credit transactions) or chapter 4 (Credit billing) of the Act and the corresponding provisions of this part. The Bureau shall grant an exemption if it determines that:
  - (1) The state law is substantially similar to the Federal law or, in the case of chapter 4, affords the consumer greater protection than the Federal law; and
  - (2) **There is adequate provision for enforcement.**
- (b) **Civil liability.**
  - (1) No exemptions granted under this section shall extend to the civil liability provisions of sections [130](/cfr/12/130.md) and [131](/cfr/12/131.md) of the Act.
  - (2) If an exemption has been granted, the disclosures required by the applicable state law (except any additional requirements not imposed by Federal law) shall constitute the disclosures required by the Act.
- (c) **Applications.** The procedures under which a state may apply for an exemption under this section are set forth in appendix B to this part.

## Notes

### Authority

Authority: 12 U.S.C. 2601, 2603-2605, 2607, 2609, 2617, 3353, 3354, 5511, 5512, 5532, 5581; 15 U.S.C. 1601 et seq.

### Source

Source: 76 FR 79772, Dec. 22, 2011, unless otherwise noted.