Regulatory Alerts2022-10-20 | 2022-22819Truth in Lending (Regulation Z)
The Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection issued final rules amending Regulation Z to adjust the annual inflation threshold for exempt consumer credit transactions. Based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, the exemption threshold increases from $61,000 to $66,400 effective January 1, 2023. The Agencies also updated official commentaries to reflect this calculation and clarify rules regarding open-end credit exemptions.
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