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  • #2425
    imported_afaust
    Participant

    I have two consumer loans that our loan operations is telling me are not covered by TIL. From the information I have I believe they should be:

    1) New consumer unsecured 5 year term loan for $10,000

    2) New consumer P & E term loan used to purchase a used car, but unsecured for $13,000 payable in 2 years

    I believe they are < $50,000 so should be covered?? If you have a chance to give me any insight on this I would appreciate it.

    #2819
    jholzknecht
    Keymaster

    There is nothing in your question that justifies either transaction being exempt from Regulation Z. Check with loan operations for any additional information that impact this answer.

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