The Truth in Lending Act (TILA, Regulation Z) applies to consumer credit transactions, which include home equity loans and other loans extended primarily for personal, family, or household purposes. TILA does not cover credit extended for business, commercial, agricultural purposes, or loans to entities rather than natural persons.
“Regulation Z applies to each individual or business that offers or extends credit when four conditions are met:
(1) the credit is offered or extended to consumers,
(2) the offering or extension of credit is done regularly,
(3) the credit is subject to a finance charge or payable by a written agreement in more than four installments, and
(4) the credit is primarily for personal, family, or household purposes.”
— 12 CFR § 1026.1(c); Regulation Z, TILA
Home equity loans are covered; agricultural, business, or commercial credit and credit to entities (not individuals) are excluded.
[References:, , CFPB, TILA/Regulation Z Coverage, , SAFE MLO National Test Study Guide, , ===========, , ]
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