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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1650/a&num=0&edition=prelim)), in which the total amount financed exceeds $50,000.11 See Adjustments for Inflation note below.
(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(6) Repealed.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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1070&num=0&edition=prelim) et seq.].
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Stable record: federal_law:legal_authorities:record_usc_cf05c5e75725a46af01e7820 Source file: Laws/federal/codes/united-states-code/title-15/section-1603-exempted-transactions--f00a8714f3.md Pages: Not recorded – Not recorded Passage SHA-256: 526bc5f4cfcad7eced377563065c7d8130af35ab16d15603b77555ddc1958e0b Retained source evidence SHA-256: 703a129565bcc9b42f65a17aa88758bb0a9abce0995499ab2bd150cec18b0811
Source location: Title 15, Chapter 41, § 1603; chapter-041-consumer-credit-protection.md
Stored source content
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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1650/a&num=0&edition=prelim)), in which the total amount financed exceeds $50,000.11 See Adjustments for Inflation note below.
(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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1070&num=0&edition=prelim) et seq.].
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Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
§ 1603. Exempted transactions
This subchapter does not apply to the fol-
lowing:
(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 commod-
ities accounts by a broker-dealer registered
with the Securities and Exchange Commis-
sion.
(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 dwell-
ing of the consumer and other than private
education loans (as that term is defined in sec-
tion 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 regu-
latory body regulates the charges for the pub-
lic 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 sub-
chapter is not necessary to carry out the pur-
poses 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 pur-
suant to a program authorized by title IV of
the Higher Education Act of 1965 [20 U.S.C.
1070 et seq.].
(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–
### Statutory Notes
Section, Pub. L. 89–329, title IV, § 420R, as added Pub. L. 111–39, title IV, § 401(a)(9), July 1, 2009, 123 Stat. 1939, related to grants for veteran’s dependents, known as Iraq and Afghanistan Service Grants.
#### Effective Date of Repeal
Repeal effective as if included in title VII of div. FF of Pub. L. 116–260 and subject to the effective date of section 701(b) of title VII (July 1, 2024), see section 103(d) of div. R of Pub. L. 117–103, set out as an Effective Date of 2022 Amendment note under [section 1070a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1070a&num=0&edition=prelim).
Stored review status: release_metadata_unconfirmed. The source passage cites 20 U.S.C. § 1070. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
§ 1070. Statement of purpose; program authoriza-
tion
(a) Purpose
It is the purpose of this part, to assist in mak-
ing available the benefits of postsecondary edu-
cation to eligible students (defined in accord-
ance with section 1091 of this title) in institu-
tions of higher education by—
(1) providing Federal Pell Grants to all eligi-
ble students;
(2) providing supplemental educational op-
portunity grants to those students who dem-
onstrate financial need;
(3) providing for payments to the States to
assist them in making financial aid available
to such students;
(4) providing for special programs and
projects designed (A) to identify and encour-
age qualified youths with financial or cultural
need with a potential for postsecondary edu-
cation, (B) to prepare students from low-in-
come families for postsecondary education,
and (C) to provide remedial (including reme-
dial language study) and other services to stu-
dents; and
Page 327
TITLE 20—EDUCATION
§ 1070
(5) providing assistance to institutions of
higher education.
(b) Secretary required to carry out purposes
The Secretary shall, in accordance with sub-
parts 1 through 9 of this part, carry out pro-
grams to achieve the purposes of this part.
(Pub. L. 89–329, title IV, § 400, formerly § 401, as
added Pub. L. 99–498, title IV, § 401(a), Oct. 17,
1986, 100 Stat. 1308; renumbered § 400, Pub. L.
102–325, title IV, § 402(a)(3), July 23, 1992, 106 Stat.
482; amended Pub. L. 105–244, title IV, § 401(g)(1),
Oct. 7, 1998, 112 Stat. 1652; Pub. L. 111–39, title
IV, § 401(a)(1), July 1, 2009, 123 Stat. 1938.)
Editorial Notes
PRIOR PROVISIONS
A prior section 1070, Pub. L. 89–329, title IV, § 401, as
added and amended Pub. L. 92–318, title I, § 131(b)(1),
title X, § 1001(c)(1), (2), June 23, 1972
Stored review status: historical_2024_not_currentness_verified. The source passage cites 20 U.S.C. § 1070. This identifies an authority to review, not proof of applicability.