Regulation Z applies to all:

Regulation Z, which is part of the Truth in Lending Act, is primarily designed to protect consumers by requiring disclosures about the terms and costs of credit. It specifically applies to personal credit transactions, which include loans for the purchase of real estate intended for a consumer's personal use. This means that when a consumer is borrowing money to purchase a home or refinance their home loan, the protections and disclosures mandated by Regulation Z come into effect.

In contrast, transactions such as commercial real estate loans typically fall outside the scope of Regulation Z since they are not intended for personal, family, or household purposes. Similarly, business loans, even if they are secured by real estate, are not covered under Regulation Z because they do not pertain to individual consumers acting in their personal capacity. Thus, the positive identification of personal real estate credit transactions as the focus of Regulation Z highlights its consumer-protective role in the lending market.