In this subchapter:
(1) “Consumer approval transaction” means a consumer transaction other than a sale or lease or listing for sale of real property or a sale of goods at auction that:
(a) Is initiated by face-to-face solicitation away from a regular place of business of the merchant or by mail or telephone solicitation directed to the particular customer; and (b) Is consummated or in which the customer’s offer to contract or other writing evidencing the transaction is received by the merchant away from a regular place of business of the merchant and involves the extension of credit or is a cash transaction in which the amount the customer pays exceeds $25.
(2) “Consumer approval transaction” does not include a catalog sale that is not accompanied by any other solicitation or a consumer loan conducted and consummated entirely by mail.