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
- 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