Agencies Announce Dollar Thresholds for Applicability of Truth in Lending and Consumer Leasing Rules for Consumer Credit and Lease Transactions
The Federal Reserve Board and the Consumer Financial Protection Bureau today announced the dollar thresholds used to determine whether certain consumer credit and lease transactions in 2026 are subject to certain protections under Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing). By law, the agencies are required to adjust the thresholds annually based…
Agencies Announce Dollar Thresholds for Smaller Loan Exemption from Appraisal Requirements for Higher-Priced Mortgage Loans
The Consumer Financial Protection Bureau, the Federal Reserve Board, and the Office of the Comptroller of the Currency today announced that the 2026 threshold for higher-priced mortgage loans that are subject to special appraisal requirements will increase from $33,500 to $34,200. The threshold amount will be effective January 1, 2026, and is based on the…
CFPB: ANPR Issued to Define Larger Participants of the Automobile Financial Market
The Consumer Financial Protection Bureau (CFPB) is seeking information to assist it in considering whether to propose a rule to amend the test to define larger participants in the automobile financing market established by the Bureau’s Defining Larger Participants of the Automobile Financing Market and Defining Certain Automobile Leasing Activity as a Financial Product or…
CFPB: ANPR Issued to Define Larger Participants of the Consumer Debt Collection Market
The Consumer Financial Protection Bureau (CFPB) is seeking information to assist it in considering whether to propose a rule to amend the test to define larger participants in the consumer debt collection market established by the Bureau’s Defining Larger Participants of the Consumer Debt Collection Market Final Rule published on October 31, 2012 (Consumer Debt…
CFPB: ANPR Issued to Define Larger Participants of the International Money Transfer Market
The Consumer Financial Protection Bureau (CFPB) is seeking information to assist it in considering whether to propose a rule to amend the test to define larger participants in the international money transfer market established by the Bureau’s Defining Larger Participants of the International Money Transfer Market Final Rule published on September 9, 2014 (International Money…
CFPB: Rescission Proposed for Rule Requiring Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders
The Consumer Financial Protection Bureau (CFPB) is proposing to rescind its rule requiring certain types of nonbank covered persons subject to certain final public orders obtained or issued by a government agency in connection with the offering or provision of a consumer financial product or service to report the existence of the orders and related…
CFPB: ANPR Issued to Define Larger Participants of the Consumer Reporting Market
The Consumer Financial Protection Bureau (CFPB) is seeking information to assist it in considering whether to propose a rule to amend the test to define larger participants in the consumer reporting market established by the Bureau’s Defining Larger Participants of the Consumer Reporting Market Final Rule published on July 20, 2012 (Consumer Reporting Larger Participant…
Interagency Statement Issued on OCC and FDIC Withdrawal from the Interagency Leveraged Lending Guidance Issuances
The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (collectively “the agencies”) are rescinding the “Interagency Guidance on Leveraged Lending” (“2013 Guidance”), dated March 21, 2013, and the “Frequently Asked Questions for Implementing March 2013 Interagency Guidance on Leveraged Lending” (“2014 FAQs”), dated November 7, 2014. The agencies expect banks…
ABA: Business Trade Organizations Support Bank Capital Rule Reform to Boost Economic Growth
Now is the time to modernize our capital framework to unleash economic growth for American businesses and consumers across the country. A coalition of leading business trade organizations urged prudential regulators to examine and modernize large bank capital requirements to ensure they support consumers, businesses, and the U.S. economy. The organizations, which represent a wide…
SBA: Administrator Loeffler Applauds House Passage of “Made in America Manufacturing Finance Act”
H.R. 3174 doubles SBA manufacturing loan limits from $5 million to $10 million Today, Kelly Loeffler, Administrator of the U.S. Small Business Administration (SBA) applauded the U.S. House of Representatives’ bipartisan and unanimous passage of H.R. 3174, the Made in America Manufacturing Finance Act, which will double the SBA’s loan limit from $5 million to $10 million for small manufacturers. The…