As of January 1, 2018, exemption and disclosure requirements under certain CFPB regulations have been adjusted. Some CFPB regulatory requirements received no change in their amount from the previous year. For instance, at $12.00, the ceiling for allowable charges under section 612(f) of the Fair Credit Reporting Act (FCRA) remains the same since 2015.
The CFPB amended the asset size thresholds for exemptions under Regulation Z (Truth in Lending Act). The exemption threshold is adjusted from $2.69 billion to $2.112 billion. Creditors with assets of less than $2.112 billion are exempt as of December 31, 2017, from establishing escrow accounts for higher-price home mortgage loans in 2018 if the other requirements of Regulation Z are also met.
The CFPB also issued a final rule adjusting the asset-size exemption threshold for banks, savings associations, and credit unions under the requirements of Regulation C (Home Mortgage Disclosure). The exemption threshold was increased from $44 million to $45 million. Beginning on December 31, 2017, banks, savings associations, and credit unions with assets under $45 million are exempt from collecting data under this aspect of Regulation C.
To read these rules, visit the following links: