CFPB announces updates TILA fees, thresholds for 2020
The Consumer Financial Protection Bureau (CFPB) has announced adjusted threshold amounts for several provisions in Regulation Z, which implements the Truth in Lending Act (TILA). The CFPB is required to calculate the dollar amounts for several provisions in Regulation Z annually.
The final rule revises, as applicable, the dollar amounts for provisions implementing TILA and amendments to TILA, including under the Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009, the Home Ownership and Equity Protection Act of 1994 (HOEPA), and the Dodd-Frank Act.
Adjustments are made based on the annual percentage change reflected in the Consumer Price Index (CPI) in effect on June 1, 2019.
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