Latest News

Federal Reserve & CFPB Announce Regulations Z and M Thresholds For 2022

Dec 14, 2021

The Federal Reserve Board  and Consumer Financial Protection Bureau (CFPB) recently announced the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) that will apply for determining exempt consumer credit and lease transactions in 2022.

These thresholds are set pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amendments to the Truth in Lending Act and the Consumer Leasing Act. The amendments require adjusting the thresholds annually based on the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).

Based on the annual percentage increase in the CPI-W as of June 1, 2021, the protections of the Truth in Lending Act and the Consumer Leasing Act generally will apply to consumer credit transactions and consumer leases of $61,000 or less in 2022.

For more information you can read the joint press release HERE.