WASHINGTON, Jan. 7 -- Consumer Financial Protection Bureau has issued a rule called: Truth in Lending Act (Regulation Z) Adjustment to Asset-Size Exemption Threshold.
The rule was published in the Federal Register on Jan. 7 by Russell Vought, Acting Director, Consumer Financial Protection Bureau.
Summary: The Consumer Financial Protection Bureau (Bureau) is amending the official commentary to its Regulation Z in order to make annual adjustments to the asset-size thresholds exempting certain creditors from the requirement to establish an escrow account for a higher-priced mortgage loan (HPML). The exemption threshold for creditors and their affiliates that regularly extended covered transactions secured by first liens is adjusted to $2.785...