WASHINGTON, Dec. 15 -- Federal Reserve System has issued a rule called: Consumer Leasing (Regulation M).
The rule was published in the Federal Register on Dec. 15 by Benjamin W. McDonough, Deputy Secretary of the Board.
Summary: The Board and the Bureau (collectively, Agencies) are finalizing amendments to the official interpretations for the Agencies' regulations that implement the Consumer Leasing Act (CLA). The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended the CLA by requiring that the dollar threshold for exempt consumer leases be adjusted annually by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Based on the annual percentage increa...