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Category: Press release |
Published

Agencies Issue Final Rule on Method to Adjust Thresholds for Exempting Certain Consumer Credit and Lease Transactions and Announce 2017 Thresholds
Archived

The Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB) today issued a final rule detailing the method that will be used to adjust the thresholds for exempting certain consumer credit and lease transactions from the Truth in Lending Act and Consumer Leasing Act.

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the Mortgage Bankers Association
Archived

Thank you for having me today. Over the past five years, the Consumer Financial Protection Bureau and the Mortgage Bankers Association have each been working in our own ways to revive a mortgage industry that was devastated by the financial crisis. During the run-up to the crisis, we saw established traditions of responsible lending pushed aside by predatory actors whose misconduct hurt millions of Americans. It led to disruptions in the mortgage markets, transmitted through securitization channels to the broader financial system, which triggered its collapse.

Category: Press release |
Published

Agencies Issue Proposal on Method to Adjust Thresholds for Exempting Certain Consumer Credit and Lease Transactions
Archived

The Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB) today issued a proposal detailing the method that will be used to adjust the thresholds for exempting certain consumer credit and lease transactions from the Truth in Lending Act and Consumer Leasing Act.

Category: Press release |
Published

CFPB Outlines Guiding Principles for Faster Payment Networks
Archived

CFPB Wants to Ensure Consumer Protections Are Built Into New Payment Systems From Outset WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) outlined guiding principles for protecting consumers as the private sector develops new faster payment systems. These new systems are aimed at reducing “pocket-to-pocket” payment times between consumers and businesses or other […]

Category: Press release |
Published

Agencies Announce Increases in Dollar Thresholds in Regulations Z and M for Exempt Consumer Credit and Lease Transactions
Archived

WASHINGTON — The Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB) today announced increases in the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) for exempt consumer credit and lease transactions. These increases are consistent with 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 to adjust these thresholds annually by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers. Transactions at or below the thresholds are subject to the protections of the regulations.

Category: Press release |
Published

Agencies Announce Increases in Dollar Thresholds in Regulation Z and M for Exempt Consumer Credit and Lease Transactions
Archived

Based on the adjustments announced today, the protections of the Truth in Lending Act and the Consumer Leasing Act generally will apply to consumer credit transactions and consumer leases of $53,000 or less in 2013.