Cashmere Valley Bank v. Brender

*657¶1

C. Johnson, J.

This case involves an exemption from the federal Truth in Lending Act (TLA) disclosure requirements under 15 U.S.C. § 1603 where a loan is primarily for business, commercial, or agricultural purposes. In this case, the funds were applied to two purposes: a purpose exempt from disclosure requirements and a purpose subject to disclosure requirements. We find that the loan’s primary purpose was for business and therefore exempt from the TLA. We affirm the Court of Appeals.

FACTS

¶2 In 1993, Terry Brender was embroiled in an expensive divorce.1 That same year, Cashmere Valley Bank…