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Monday, December 21, 2015

CFPP Announces Two Annual Threshold Adjustments

The CFPB issued two final rules regarding annual threshold adjustments under the Home Mortgage Disclosure Act (HMDA) and Truth in Lending Act (TILA).

Under the HMDA, the final rule regarded the asset-size exemption threshold for banks, savings associations and credit unions under Regulation C. The asset-size exemption will remain at $44 million.

Under the TILA, the Bureau's final rule regarded the asset-size threshold for certain creditors to qualify for an exemption from the requirement to establish an escrow account for a higher-priced mortgage loan under Regulation Z. The threshold was established at $2 billion as part of its 2013 Escrows Final Rule.

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