Consumer Credit Regulation: 2.2.2.3 Relationship Between TILA and State Law
TILA preempts state disclosure laws only to the extent they are inconsistent with TILA’s requirements.29 In general, TILA does not preempt or alter state usury ceilings or other cost caps, nor does it affect the way that interest rates are calculated for the purposes of state usury law.30 Indeed, many consumer credit contracts currently state two interest rates—one on the contract or note, which is calculated as required or permitted by state law, and one on the TILA disclosure statement, which cont