Page:United States Statutes at Large Volume 82.djvu/193

 82 STAT. ]

PUBLIC LAW 90-321-MAY 29, 1968

§ 110. Advisory committee The Board shall establish an advisory committee to advise and consult with it in the exercise of its functions under this title. I n ajipointin^ the members of the committee, the Board shall seek to achieve a fair representation of the interests of sellers of merchandise on credit, lenders, and the public. The committee shall meet from time to time at the call of the Board, and members thereof shall be paid transportation expenses and not to exceed $100 per diem. § 111. Effect on other laws (a) This title does not annul, alter, or affect, or exempt any creditor from complying with, the laws of any State relating to the disclosure of information in connection with credit transactions, except to the extent that those laws are inconsistent with the provisions of this title or regulations thereunder, and then only to the extent of the inconsistency. (b) This title does not otherwise annul, alter or affect in any manner the meaning, scope or applicability of the laws of.any State, including, but not limited to, laws relating to the types, amounts or rates of charges, or any element or elements of charges, permissible under such laws in connection with the extension or use of credit, nor does this title extend the applicability of those laws to any class of persons or transactions to which they would not otherwise apply. (c) In any action or proceeding in any court involving a consumer credit sale, the disclosure of the annual percentage rate as required under this title in connection with that sale may not be received as evidence that the sale was a loan or any type of transaction other than a credit sale. (d) Except as specified in sections 125 and 130, this title and the regulations issued thereunder do not affect the validity or enforceability of any contract or obligation under State or Federal law. § 112. Criminal liability for willful and knowing violation Whoever willfully and knowingly (1) gives false or inaccurate information or fails to provide information which he is required to disclose under the provisions of this title or any regulation issued thereunder, (2) uses any chart or table authorized by the Board under section 107 in such a manner as to consistently understate the annual percentage rate determined under section 107(a)(1)(A), or (3) otherAvise fails to comply with any requirement imposed under this title, shall be fined not more than $5,000 or imprisoned not more than one year^ or both. § 113. Penalties inapplicable to governmental agencies No civil or criminal penalty provided under this title for any violation thereof may be imposed upon the United States or any agency thereof, or upon any State or political subdivision thereof, or any agency of any State or political subdivision. § 114. Reports by Board and Attorney General Not later than January 3 of each year after 1969, the Board and the Attorney General shall, respectively^ make reports to the Congress concerning the administration of their functions under this title, including such recommendations as the Board and the Attorney General, respectively, deem necessary or appropriate. In addition, each report of the Board shall include its assessment of the extent to which compliance with the requirements imposed under this title is being achieved.

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compensation.

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