(2) (i) “Credit agreement” means a covenant, promise, undertaking, commitment, or other agreement by a financial institution to:

1. Lend money;

2. Forbear from repayment of money, goods, or things in action;

3. Forbear from collecting or exercising any right to collect a debt; or

4. Otherwise extend credit.

(ii) “Credit agreement” includes agreeing to take or to not take certain actions by a financial institution in connection with an existing or prospective credit agreement.

(3) “Financial institution” means:

(i) A bank;

(ii) A trust company;

(iii) A savings bank;

(iv) A savings and loan association; or

(v) An affiliate or subsidiary of a bank, trust company, savings bank, or savings and loan association.

(b) A credit agreement is not enforceable by way of action or defense unless it:

(1) Is in writing;

(2) Expresses consideration;

(3) Sets forth the relevant terms and conditions of the agreement; and

(4) Is signed by the person against whom its enforcement is sought.

(c) (1) This section applies only to commercial transactions.

(2) This section does not apply to:

(i) Credit agreements made primarily for personal, family, or household purposes; or

(ii) Credit extended by means of, or in connection with, a credit or charge card.