United States:
CFPB And FRB Set Thresholds For Exempt Consumer Credit And Lease Transactions
12 November 2019
Cadwalader, Wickersham & Taft LLP
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The CFPB and the Federal Reserve Board set dollar thresholds
(see here and here) for exempt consumer credit and lease
transactions in 2020. The dollar thresholds for Regulation Z ("Truth in Lending")
and Regulation M ("Consumer Leasing")
must be adjusted annually consistent with the annual percentage
increase in the Consumer Price Index for Urban Wage Earners and
Clerical Workers (or "CPI-W"). In 2020, the protections
of Regulations Z and M will apply to consumer credit transactions
and consumer leases of $58,300 or less.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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