12 U.S.C. § 2606
Section 2606 · Exempted transactions
Amended 3 times on record
Applied in 30 court decisions — leading case Johnson v. Wells Fargo Home Mortgage, Inc. (2011)
Most recently applied in Floyd v. Hill Funding, LLC (June 2020)
How often courts cite this section
Court decisions citing this, by year.Markers show enactment, consequential amendments, and circuit splits over this section — watch for a citation surge after a change or a disagreement. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
This chapter does not apply to credit transactions involving extensions of credit—
(1) primarily for business, commercial, or agricultural purposes; or
(2) to government or governmental agencies or instrumentalities.
In prescribing regulations under section 2617(a) of this title, the Bureau shall ensure that, with respect to subsection (a) of this section, the exemption for credit transactions involving extensions of credit primarily for business, commercial, or agricultural purposes, as provided in subsection (a)(1) 1 of this section shall be the same as the exemption for such credit transactions under section 1603(1) of title 15.
Editorial notes U.S. Code · Office of the Law Revision Counsel
References in Text
Subsection (a)(1) of this section, referred to in subsec. (b), was in the original “section 7(1) of the Real Estate Settlement Procedures Act of 1974”, and was translated as referring to section 7(a)(1) of that Act to reflect the probable intent of Congress.
Prior Provisions
A prior section 2606, Pub. L. 93–533, §7, Dec. 22, 1974, 88 Stat. 1727, related to seller or his agent confirming that information concerning an existing residence was disclosed to buyer in writing before a commitment for a mortgage loan was made, prior to repeal by Pub. L. 94–205, §6, Jan. 2, 1976, 89 Stat. 1158.
Amendments
2010–Subsec. (b). Pub. L. 111–203 substituted “Bureau” for “Secretary”.
1996—Pub. L. 104–208 designated existing provisions as subsec. (a), inserted heading, and added subsec. (b).
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.