38 USC § 3728 - Exemption from State anti-usury provisions

---
identifier: "/us/usc/t38/s3728"
source: "usc"
legal_status: "official_legal_evidence"
title: "38 USC § 3728 - Exemption from State anti-usury provisions"
title_number: 38
title_name: "VETERANS’ BENEFITS"
section_number: "3728"
section_name: "Exemption from State anti-usury provisions"
chapter_number: 37
chapter_name: "HOUSING AND SMALL BUSINESS LOANS"
subchapter_number: "III"
subchapter_name: "ADMINISTRATIVE PROVISIONS"
part_number: "III"
part_name: "READJUSTMENT AND RELATED BENEFITS"
positive_law: true
currency: "119-84"
last_updated: "2026-04-21"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Added Pub. L. 96–128, title IV, § 401(a), Nov. 28, 1979, 93 Stat. 986, § 1828; amended Pub. L. 97–66, title V, § 501(b), Oct. 17, 1981, 95 Stat. 1032; renumbered § 3728, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.)"
---


# § 3728. Exemption from State anti-usury provisions

If, under any law of the United States, loans and mortgages insured under title I or title II of the National Housing Act are exempt from the application of the provisions of any State constitution or law (1) limiting the rate or amount of interest, discount points, or other charges which may be charged, taken, received, or reserved by lenders, (2) restricting the manner of calculating such interest (including prohibition of the charging of interest on interest), or (3) requiring a minimum amortization of principal, then loans guaranteed or insured under this chapter are also exempt from the application of such provisions.

---

**Source Credit**: (Added Pub. L. 96–128, title IV, § 401(a), Nov. 28, 1979, 93 Stat. 986, § 1828; amended Pub. L. 97–66, title V, § 501(b), Oct. 17, 1981, 95 Stat. 1032; renumbered § 3728, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.)

## Editorial Notes

### References in Text

The National Housing Act, referred to in text, is , . Titles I and II of the Act are classified generally to subchapters I (§ 1702 et seq.) and II (§ 1707 et seq.), respectively, of chapter 13 of Title 12, Banks and Banking. For complete classification of this Act to the Code, see  and Tables.

### Amendments

1991— renumbered  as this section.

1981— designated as cl. (1) existing provisions relating to the limiting of rates or amounts of interest, discount points, or other charges which may be charged, taken, received, or reserved by lenders, and added cls. (2) and (3).

## Statutory Notes and Related Subsidiaries

### Effective Date of 1981 Amendment

Amendment by  effective , see , set out as a note under .

### Effective Date

Section effective , see , set out as an Effective Date of 1979 Amendment note under .