Answers about Consumer Loans

Is the bank required to provide Truth in Lending disclosures for all loans?

No. The bank is not required to provide a Truth in Lending disclosure, which outlines the cost of the requested credit, for the following types of loans:

• business, commercial, agricultural, or organizational
• student
• consumer loans over $50,000, adjusted annually for inflation, not secured by real property or the consumer's principal dwelling
• public utility services
• securities and commodities

January 2013