The threshold to exempt consumer credit (Reg Z) and consumer leases (Reg M) from the applicable regulatory requirements will increase to $54,600 on January 1, 2015.. This is up from the 2014 threshold of $53,500. This means any consumer credit and/or consumer lease transaction greater than $54,600 is NOT subject to Reg Z and Reg M requirements. However, private education loans and loans secured by real property (such as mortgages) are subject to the Truth in Lending Act regardless of the amount of the loan.
Published
2014/12/24
Amy Kudlacek