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.