A current mode power conversion system and method operates in cycles. Each cycle includes an on time and an off time. The system includes an inductor connected to store energy during the on time of each cycle and use the energy during the off time of each cycle. The system provides a stable output voltage and a maximum-limited output current to a load during constant load conditions. The system comprises a feedback control linearly operable so as to control the output voltage across the load during constant load conditions, and non-linearly operable so as to control the output voltage across the load during certain detected changes in load conditions as a function of the derivative of the current in the inductor so as to speed up the transient response of the power conversion system when a fault condition exists.