TILA

Question 1

TILA applies to

Answer 1

Consumer credit that is Subject to finance charge or
Payable in more than four installments And primarily for personal, family, or household purposes

Certain credit card arrangements

Payday loans - especially if a fee is involved, amount of check will not be available the date of the check

Consumer home equity applications offered by noncreditors

Question 2

A creditor under TiLa

Answer 2

Eder daughter credit with a finance charge or more than four installments

Made more than 25 loans in a calendar year

Five loans secured by a dwelling previous year

One closed end loan secured by principal dwelling in which borrower paid s high interest rate

Question 3

Exceptions to TILA

Answer 3

Business, commercial, agriculture, or organizational credit( govt agency, partnership, corporation)

Credit for more than $54k

Public utility credit

Securities or commodores credit

Student loan program