How to gain more from operational risk management practices. Modern risk management technology solutions improve efficiency and provide greater visibility into risks. Today’s tools provide real-time visibility, action plans, enhanced reporting and business intelligence, and proactive notifications for operational risk. Real-time data empowers banks and financial services organizations to proactively manage risks and instantly detect and mitigate emerging issues. Click here to learn more.
Bureau revises threshold amounts for 2020
The CFPB has published final rules in this morning's Federal Register adjusting exemptions thresholds in Regulations Z and M for the year 2020.
- [84 FR 58013] Comment 35(c)(2)(ii)-3.vii will be added to the Official Interpretations of § 1026.35 of Regulation Z to increase the threshold amount to $27,200 for the exemption from the special appraisal requirements for higher-priced mortgage loans.
- [84 FR 58020] Comment 3(b)-3.xi will be added to the Official Interpretations of § 1026.3 of Regulation Z to increase the threshold amount to $58,300 for exempt consumer credit transactions (except for (1) those secured by real property or by personal property use or expected to be used as the principal dwelling of a consumer and (2) private education loans)
- [84 FR 58017] Comment 2(e)-11.xii will be added to the Official Interpretations of § 1013.2 of Regulation M to increase the threshold amount to $58,300 for exempt consumer leases.
The BankersOnline Regulations pages for Regulations Z and M have been updated to include these changes.