Sec. 104. Exempted transactions

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## § 104 Exempted transactions **[**[15 U.S.C. 1603](/us/usc/t15/s1603)**]** This title 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 140(a)), in which the total amount financed exceeds $50,000. ####

(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 title is not necessary to carry out the purposes of this title. #### (7)6 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.). 6So in law. Probably should be redesignated as paragraph (6). Section 603(c)(3) of P.L. 96–221 (94 Stat. 169) repealed then-existing paragraph

(5)and section 701(a) of P.L. 97–320 (96 Stat. 1538) added this paragraph as a new paragraph (6). Section 2102(a) of P.L. 104–208 (110 Stat. 3009–398) redesignated paragraphs

(5)and

(6)as paragraphs

(6)and

(7)and added a new paragraph (5). Since the prior paragraph

(5)had already been repealed, the attempted redesignation was probably unnecessary.

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