15 U.S.C. § 1603 - Exempted transactions

• Cite as: 15 U.S.C. § 1603

This subchapter does not apply to the following:

(1) Credit transactions involving extensions of credit primarily for business, commercial, or agricultural purposes, or to government or governmental agencies or instrumentalities, or to organizations.

(2) Transactions in securities or commodities accounts by a broker-dealer registered with the Securities and Exchange Commission.

(3) Credit transactions, other than those in which a security interest is or will be acquired in real property, or in personal property used or expected to be used as the principal dwelling of the consumer and other than private education loans (as that term is defined in section 1650(a) of this title), in which the total amount financed exceeds $50,000.¹

(4) Transactions under public utility tariffs, if the Bureau determines that a State regulatory body regulates the charges for the public utility services involved, the charges for delayed payment, and any discount allowed for early payment.

(5) Transactions for which the Bureau, by rule, determines that coverage under this subchapter is not necessary to carry out the purposes of this subchapter.

(6) Repealed. Pub. L. 96-221, title VI, §603(c)(3), Mar. 31, 1980, 94 Stat. 169.

(7) Loans made, insured, or guaranteed pursuant to a program authorized by title IV of the Higher Education Act of 1965 [ 20 U.S.C. 1070 et seq.].

¹ See Adjustments for Inflation note below.

Cite as 15 U.S.C. § 1603

Source: Pub. L. 90-321, title I, §104, May 29, 1968, 82 Stat. 147; Pub. L. 93-495, title IV, §402, Oct. 28, 1974, 88 Stat. 1517; Pub. L. 96-221, title VI, §603(c), Mar. 31, 1980, 94 Stat. 169; Pub. L. 97-320, title VII, §701(a), Oct. 15, 1982, 96 Stat. 1538; Pub. L. 104-208, div. A, title II, §2102(a), Sept. 30, 1996, 110 Stat. 3009-398; Pub. L. 110-315, title X, §10221022,, 122 Stat. 3488; Pub. L. 111-203, title X, §§1100A(2), July 21, 2010, 1100E, July 21, 2010, 124 Stat. 2107, 2111.

current through 5/23/2023

EDITORIAL NOTES

REFERENCES IN TEXT

The Higher Education Act of 1965, referred to in par. (7), is Pub. L. 89-329, Nov. 8, 1965, 79 Stat. 1219. Title IV of the Act is classified generally to subchapter IV (§1070 et seq.) of chapter 28 of Title 20, Education. For complete classification of this Act to the Code, see Short Title note set out under section 1001 of Title 20 and Tables.

AMENDMENTS

2010-Par. (3). Pub. L. 111-203, §1100E(a)(1), substituted "$50,000" for "$25,000".

Pars. (4), (5). Pub. L. 111-203, §1100A(2), substituted "Bureau" for "Board".