covered loan

(2) the term “covered loan”— (A) means a loan made under section 696 of this title in an amount that is not more than $500,000; and (B) does not include a loan made to a borrower that is in an industry that has a high rate of default, as annually determined by the Administrator and reported in rules of the Administration; and


15 USC § 697d(f)(2)

Scoping language

In this section
Is this correct? or