Which can be considered a "bona fide emergency" under Reg Z?

Under Regulation Z, a "bona fide emergency" typically refers to unexpected expenses that require immediate attention and cannot be postponed. Home repairs due to a storm fit this definition because such repairs are often urgent, relating to safety and functionality. For instance, a damaged roof or flooding can lead to further structural damage if not addressed quickly, affecting the habitability of a home.

In contrast, purchasing a new car, travel expenses, and credit card debt repayment do not usually qualify as emergencies. While they may involve significant financial considerations, they are generally planned or non-urgent expenditures, allowing for time to budget and strategize for payment. Thus, home repairs after a storm stand out as the clear example of a situation requiring swift action to prevent further harm, justifying its classification as a bona fide emergency under Regulation Z.