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12 U.S.C. § 2712 — Repealed. Pub. L. 111–203, title XIV, § 1496(b)(7), July 21, 2010, 124 Stat. 2209
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, Pub. L. 94–50, title I, § 113, July 2, 1975, 89 Stat. 254, related to Federal Deposit Insurance Corporation advances to insured banks.
#### Effective Date of Repeal
Repeal effective on the date on which final regulations implementing such repeal take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date, see section 1400(c) of Pub. L. 111–203, set out as an Effective Date of 2010 Amendment note under [section 1601 of Title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1601&num=0&edition=prelim), Commerce and Trade.
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Source file: Laws/federal/codes/united-states-code/title-12/section-2712-repealed-pub-l-111203-title-xiv-1496-b-7-july-21-2010-124-stat-2209--a41e9991e9.md
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Source location: Title 12, Chapter 28, § 2712; chapter-028-emergency-mortgage-relief.md
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### Statutory Notes
Section, Pub. L. 94–50, title I, § 113, July 2, 1975, 89 Stat. 254, related to Federal Deposit Insurance Corporation advances to insured banks.
#### Effective Date of Repeal
Repeal effective on the date on which final regulations implementing such repeal take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date, see section 1400(c) of Pub. L. 111–203, set out as an Effective Date of 2010 Amendment note under [section 1601 of Title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1601&num=0&edition=prelim), Commerce and Trade.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Informed use of credit** The Congress finds that economic stabilization would be enhanced and the competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the informed use of credit. The informed use of credit results from an awareness of the cost thereof by consumers. It is the purpose of this subchapter to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him and avoid the uninformed use of credit, and to protect the consumer against inaccurate and unfair credit billing and credit card practices.
**(b) Terms of personal property leases** The Congress also finds that there has been a recent trend toward leasing automobiles and other durable goods for consumer use as an alternative to installment credit sales and that these leases have been offered without adequate cost disclosures. It is the purpose of this subchapter to assure a meaningful disclosure of the terms of leases of personal property for personal, family, or household purposes so as to enable the lessee to compare more readily the various lease terms available to him, limit balloon payments in consumer leasing, enable comparison of lease terms with credit terms where appropriate, and to assure meaningful and accurate disclosures of lease terms in advertisements.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Direct payments to mortgagee** In the case of any mortgagee which would otherwise be eligible to participate in the program authorized under [section 2704 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2704&num=0&edition=prelim) but does not qualify for an advance or advances as authorized by section 2712 11 See References in Text note below. of this title or under section 1430, 1430b, or 1431 of this title or otherwise elects not to participate in the program authorized under [section 2704 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2704&num=0&edition=prelim), the Secretary is authorized to make repayable emergency mortgage relief payments directly to such mortgagee on behalf of homeowners whose mortgages are held by such financial institution and who are delinquent in their mortgage payments.
**(b) Mortgages eligible; terms and conditions** Emergency mortgage relief payments shall be made under this section only with respect to a mortgage which meets the requirements of [section 2702 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2702&num=0&edition=prelim) and only on such terms and conditions as the Secretary may prescribe, subject to the provisions of [section 2703 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2703&num=0&edition=prelim).
**(c) Processing of relief payments; power of Secretary** The Secretary may make such delegations and accept such certifications with respect to the processing of mortgage relief payments provided under this section as he deems appropriate to facilitate the prompt and efficient implementation of the assistance authorized under this section.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2705
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Federal law — U.S. Code and appendices · legal_authorities
Page 1462
TITLE 12—BANKS AND BANKING
§§ 2709, 2710
this title shall not exceed $500,000,000. Any amounts so
appropriated shall remain available until expended.’’
1976—Subsec. (b). Pub. L. 94–375 substituted ‘‘Sep-
tember 30, 1977’’ for ‘‘June 30, 1976’’.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 2010 AMENDMENT
Amendment by Pub. L. 111–203 effective on the date
on which final regulations implementing that amend-
ment take effect, or on the date that is 18 months after
the designated transfer date if such regulations have
not been issued by that date, see section 1400(c) of Pub.
L. 111–203, set out as a note under section 1601 of Title
15, Commerce and Trade.
§§ 2709, 2710. Repealed. Pub. L. 111–203, title XIV,
§ 1496(b)(7), July 21, 2010, 124 Stat. 2209
Section 2709, Pub. L. 94–50, title I, § 110, July 2, 1975,
89 Stat. 253; Pub. L. 94–375, § 13(b), Aug. 3, 1976, 90 Stat.
1075; Pub. L. 98–479, title II, § 204(m)(2), Oct. 17, 1984, 98
Stat. 2234; Pub. L. 111–203, title III, § 361, July 21, 2010,
124 Stat. 1549, related to waiver and relaxation by insti-
tutions and approved mortgagees of limitations with
respect to mortgage delinquencies; notification to Fed-
eral supervisory agency prior to foreclosure pro-
ceedings.
Section 2710, Pub. L. 94–50, title I, § 111, July 2, 1975,
89 Stat. 253; Pub. L. 94–375, § 13(c), Aug. 3, 1976, 90 Stat.
1075, related to reports to Congress; time; contents.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF REPEAL
Repeal effective on the date on which final regula-
tions implementing such repeal take effect, or on the
date that is 18 months after the designated transfer
date if such regulations have not been issued by that
date, see section 1400(c) of Pub. L. 111–203, set out as an
Effective
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 2712
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