The Texas forum was getting lonely, so I thought I'd post a question! Is there a definition in Texas law of a consumer loan? Specifically - is there a dollar limit? (i.e. reg z is $25,000 without real estate)

Thanks!

There can be different definitions in the Texas Credit Laws. Zaibatsu may have a better definition or siurce. Perhaps for many loans it depends on Federal laws or is jus, not business.

§347.002. DEFINITIONS. (a) In this chapter:
(1) "Consumer" means a person to whom credit is extended in a credit transaction. The term includes a comaker, endorser,
guarantor, surety, or another person who is obligated to repay the extension of credit.

§392.001. DEFINITIONS. In this chapter:
(1) "Consumer" means an individual who has a consumer debt.
(2) "Consumer debt" means an obligation, or an alleged obligation, primarily for personal, family, or household purposes and arising from a transaction or alleged transaction.

§393.001. DEFINITIONS. In this chapter:
(1) "Consumer" means an individual who is solicited to purchase or who purchases the services of a credit services
organization.

What is going on down there in Texas?

Andy, maybe I'm not as inept at this Texas law research as I think I am - that's what I found also. So do you think only the type of borrower and purpose, and not the size of the loan are factors under the Texas law? We'd like to get some of our large loans to individuals out from under the consumer loan statutes.

I don't believe size matters. That is my story and I'm sticking to it.