---
kind: "section"
citation: "15 U.S.C. § 1649"
title: "15"
title_heading: "Commerce and Trade"
number: "1649"
heading: "Certain limitations on liability"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/15/1649"
units:
  - "Chapter 41 — Consumer Credit Protection"
  - "Subchapter I — Consumer Credit Cost Disclosure"
  - "Part B — Credit Transactions"
---

# §1649. Certain limitations on liability

- (a) **Limitations on liability—** For any closed end [consumer](/usc/15/1681a.md?p=c) [credit](/usc/15/1602.md?p=f) transaction that is secured by real property or a [dwelling](/usc/15/1602.md?p=w), that is subject to this subchapter, and that is consummated before September 30, 1995, a [creditor](/usc/15/1602.md?p=g) or any assignee of a [creditor](/usc/15/1602.md?p=g) shall have no civil, administrative, or criminal liability under this subchapter for, and a [consumer](/usc/15/1681a.md?p=c) shall have no extended rescission rights under [section 1635(f) of this title](/usc/15/1635.md?p=f) with respect to—
  - (1) the [creditor](/usc/15/1602.md?p=g)’s treatment, for disclosure purposes, of—
    - (A) taxes described in [section 1605(d)(3) of this title](/usc/15/1605.md?p=d-3);
    - (B) fees described in [section 1605(e)(2)](/usc/15/1605.md?p=e-2) and (5) of this title;
    - (C) fees and amounts referred to in the 3rd sentence of [section 1605(a) of this title](/usc/15/1605.md?p=a); or
    - (D) borrower-paid mortgage broker fees referred to in [section 1605(a)(6) of this title](/usc/15/1605.md?p=a-6);
  - (2) the form of written notice used by the [creditor](/usc/15/1602.md?p=g) to inform the obligor of the rights of the obligor under [section 1635 of this title](/usc/15/1635.md) if the [creditor](/usc/15/1602.md?p=g) provided the obligor with a properly dated form of written notice published and adopted by the [Bureau](/usc/15/1602.md?p=b) or a comparable written notice, and otherwise complied with all the requirements of this section regarding notice; or
  - (3) any disclosure relating to the finance charge imposed with respect to the transaction if the amount or percentage actually disclosed—
    - (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;
    - (B) may, under [section 1605(f)(2) of this title](/usc/15/1605.md?p=f-2), be treated as accurate for purposes of [section 1635 of this title](/usc/15/1635.md); or
    - (C) is greater than the amount or percentage required to be disclosed under this subchapter.
- (b) **Exceptions—** [Subsection (a)](#a) shall not apply to—
  - (1) any individual action or counterclaim brought under this subchapter which was filed before June 1, 1995;
  - (2) any class action brought under this subchapter for which a final order certifying a class was entered before January 1, 1995;
  - (3) the named individual plaintiffs in any class action brought under this subchapter which was filed before June 1, 1995; or
  - (4) any [consumer](/usc/15/1681a.md?p=c) [credit](/usc/15/1602.md?p=f) transaction with respect to which a timely notice of rescission was sent to the [creditor](/usc/15/1602.md?p=g) before June 1, 1995.

## Source credit

(Pub. L. 90–321, title I, § 139, as added Pub. L. 104–29, § 4(a), Sept. 30, 1995, 109 Stat. 273; amended Pub. L. 104–208, div. A, title II, § 2107(a), Sept. 30, 1996, 110 Stat. 3009–402; Pub. L. 111–203, title X, § 1100A(2), July 21, 2010, 124 Stat. 2107.)

## Notes

### Editorial Notes

### Amendments

2010—Subsec. (a)(2). Pub. L. 111–203 substituted “Bureau” for “Board”.

1996—Subsec. (a). Pub. L. 104–208 substituted “For any closed end consumer credit transaction that is secured by real property or a dwelling, that is subject to this subchapter, and” for “For any consumer credit transaction subject to this subchapter”.

### Statutory Notes and Related Subsidiaries

### Effective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

### Effective Date of 1996 Amendment

Pub. L. 104–208, div. A, title II, § 2107(b), Sept. 30, 1996, 110 Stat. 3009–402, provided that: “The amendment made by subsection (a) [amending this section] shall be effective as of September 30, 1995.”