The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule to update its regulation to reflect amendments to the underlying statute concerning the authority of FinCEN to issue orders imposing additional reporting and recordkeeping requirements on financial institutions and nonfinancial trades or businesses in a geographic area. More... The final rule is effective November 15, 2021 (Department of the Treasury, Financial Crimes Enforcement Network), the same day it was published in the Federal Register.

In 2017, the Consumer Financial Protection Bureau (CFPB) issued a final rule that amended Regulation B to permit creditors additional flexibility in complying with Regulation B in order to facilitate compliance with Regulation C, added certain model forms and removed others from Regulation B, and made various other amendments to Regulation B and its commentary to facilitate the collection and retention of information about the ethnicity, sex, and race of certain mortgage applicants. More... The final rule became effective January 1, 2018, except for amendments to Appendix B to Part 1002 that become effective January 1, 2022 (Consumer Financial Protection Bureau, Regulation B, Docket CFPB-2017-0009) and was published in the Federal Register on October 2, 2017.

The CFPB is amending Regulation C to set the threshold for reporting data about open-end lines of credit at 200 open-end lines of credit effective January 1, 2022, upon the expiration of the current temporary threshold of 500 open-end lines of credit. More... The final rule is effective January 1, 2022 (Consumer Financial Protection Bureau, Regulation C, Docket CFPB-2019-0021) and was published in the Federal Register on May 12, 2020.

The Board and the CFPB finalized amendments to the official interpretations and commentary for the agencies’ regulations that implement the Consumer Leasing Act (CLA). More... 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). If there is no annual percentage increase in the CPI-W, the Board and the CFPB will not adjust this exemption threshold from the prior year. However, in years following a year in which the exemption threshold was not adjusted, the threshold is calculated by applying the annual percentage change in the CPI-W to the dollar amount that would have resulted, after rounding, if the decreases and any subsequent increases in the CPI-W had been taken into account. Based on the annual percentage increase in the CPI-W as of June 1, 2021, the exemption threshold will increase from $58,300 to $61,000. The final rule is effective January 1, 2022 (Regulation MRegulation M and Consumer Financial Protection Bureau, Regulation M, Docket R-1756) and was published in the Federal Register on November 30, 2021.

The Board, the CFPB, and the Office of the Comptroller of the Currency (OCC) finalized amendments to the official interpretations for their regulations that implement section 129H of the Truth in Lending Act (TILA). More... Section 129H of TILA establishes special appraisal requirements for “higher-risk mortgages,” termed “higher-priced mortgage loans” or HPMLs in the agencies’ regulations. The Board, the CFPB, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the National Credit Union Administration, and the OCC jointly issued final rules implementing these requirements, effective January 18, 2014. The agencies’ rules exempted, among other loan types, transactions of $25,000 or less, and required that this loan amount be adjusted annually based on any annual percentage increase in the CPI-W. If there is no annual percentage increase in the CPI-W, the Board, the CFPB, and the OCC will not adjust this exemption threshold from the prior year. However, in years following a year in which the exemption threshold was not adjusted, the threshold is calculated by applying the annual percentage increase in the CPI-W to the dollar amount that would have resulted, after rounding, if the decreases and any subsequent increases in the CPI-W had been taken into account. Based on the CPI-W in effect as of June 1, 2021, the exemption threshold will increase from $27,200 to $28,500. The final rule is effective January 1, 2022 (Regulation Z and Consumer Financial Protection Bureau, Regulation Z, Docket R-1758) and was published in the Federal Register on November 30, 2021.

The Board and the CFPB are amending the official interpretations and commentary for the agencies’ regulations that implement TILA. The Dodd-Frank Act amended TILA by requiring that the dollar threshold for exempt consumer credit transactions be adjusted annually by the annual percentage increase in the CPI-W. More... If there is no annual percentage increase in the CPI-W, the Board and the CFPB will not adjust this exemption threshold from the prior year. However, in years following a year in which the exemption threshold was not adjusted, the threshold is calculated by applying the annual percentage change in the CPI-W to the dollar amount that would have resulted, after rounding, if the decreases and any subsequent increases in the CPI-W had been taken into account. Based on the annual percentage increase in the CPI-W as of June 1, 2021, the exemption threshold will increase from $58,300 to $61,000. The final rule is effective January 1, 2022 (Regulation Z and Consumer Financial Protection Bureau, Regulation Z, Docket R-1757) and was published in the Federal Register on November 30, 2021.

The CFPB issued a final rule amending Regulation Z, which implements TILA. More... The CFPB is required to calculate annually the dollar amounts for several provisions in Regulation Z; this 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 Act of 2009 (CARD Act), the Home Ownership and Equity Protection Act of 1994 (HOEPA), and the Dodd-Frank Act. The CFPB is adjusting these amounts, where appropriate, based on the annual percentage change reflected in the Consumer Price Index (CPI) in effect on June 1, 2021. The final rule is effective January 1, 2022 (Consumer Financial Protection Bureau, Regulation Z) and was published in the Federal Register on November 2, 2021.

The CFPB is amending Regulation V, which implements the Fair Credit Reporting Act (FCRA). The CFPB is required to calculate annually the dollar amount of the maximum allowable charge for disclosures by a consumer reporting agency to a consumer pursuant to section 609 of the FCRA (15 U.S.C. 1681g); this final rule establishes the maximum allowable charge for the 2022 calendar year. More... The final rule is effective January 1, 2022 (Consumer Financial Protection Bureau, Regulation V) and was published in the Federal Register on November 29, 2021.