Regulations Z & M Thresholds Updated for 2013

Editor’s Note:  The email sent announcing this blog omitted a VERY important sentence regarding the Reg Z & M threshold change.  Please see the last sentence.

The threshold to exempt consumer credit (Reg Z) and consumer leases (Reg M) from the applicable regulatory requirements increases to $53,000 on January 1, 2013.  This is up from the 2012 threshold of $51,800.  This means any consumer credit and/or consumer lease transactions greater than $53,000 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
2012/12/28
Amy Kudlacek
Amy Kudlacek

Amy Kudlacek

Amy brings many years of banking and compliance experience to Banker’s Compliance Consulting. She has worked for both large and small financial institutions and spent time working in every area of a bank. She started out as a teller in college and eventually became a branch manager. Her love, however, was always compliance. Amy began her career with Banker’s Compliance Consulting in 2000. Her knowledge and experiences have allowed her to develop a well-rounded and practical approach to regulatory compliance. Amy is CRCM certified, has a Bachelors Degree in Business Administration and is a graduate of the ABA Compliance School. Amy & her husband have two children at home and stay busy following their activities. They spend a lot of time in the bleachers!

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