Regulatory Alerts2022-10-20 | 2022-22818Consumer Leasing (Regulation M) and Truth in Lending (Regulation Z) Threshold Adjustments
The Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection are finalizing amendments to adjust the exemption thresholds for consumer leases and credit transactions under the Consumer Leasing Act and Truth in Lending Act. Effective January 1, 2023, the exemption threshold for consumer leases increases from $61,000 to $66,400 based on the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers. The Agencies are also updating official interpretations to reflect this adjustment and to memorialize the calculation methodology for future threshold changes.
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