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.
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.
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.