CFPB Issues Final Rule Amending Regulation Z

CFPB issued its final rule and official interpretation amending Regulation Z which implements TILA.  The rule is effective on January 1, 2019.

The Bureau is required to calculate annually the dollar amounts for the provisions implementing TILA to update the amounts of various thresholds that are adjusted annually.  This includes minimum interest charge disclosures and safe harbor penalty fees for credit cards, high cost mortgage determinations under the Home Ownership and Equity Protection Act, and points and fees for qualified mortgages under the Dodd-Frank Act.  The Bureau is adjusting these amounts based on the annual percentage change shown in the Consumer Price Index in effect on June 1, 2018.

The Final Rule is available here: https://www.federalregister.gov/documents/2018/08/27/2018-18209/truth-in-lending-regulation-z-annual-threshold-adjustments-credit-cards-hoepa-and-qualified.