On September 9, 2014, the Board of Governors of the Federal Reserve System (“Federal Reserve Board”) and the CFPB announced amendments to both Regulation M (Consumer Leasing) as well as Regulation Z (Truth in Lending). The amendments would increase the dollar thresholds in Regulation Z and M for exempt consumer credit and lease transactions. Transactions at or below the thresholds remain subject to the provisions of Regulations M and Z. In general, based on currently available information, the adjustments would result in consumer credit transactions and consumer leases of $54,600 or less in 2015 being subject to the provisions the amended regulations.
The full text of the amendment to Regulation M is available at:
The full text of the amendment to Regulation Z is available at: