The threshold to exempt consumer credit (Reg Z) and consumer leases (Reg M) from the applicable regulatory requirements increases to $53,500 on January 1, 2014. This is up from the 2013 threshold of $53,000. This means any consumer credit and/or consumer lease transactions greater than $53,500 are 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
2013/12/27
Amy Kudlacek