NCUA alert notes Regs Z, M exemption threshold adjustments for 2022

A regulatory alert last week from the federal credit union regulator notes recent changes in two regulatory exemption thresholds under the Truth in Lending Act (TILA/Regulation Z) and Consumer Leasing Act (CLA/Regulation M) that took effect Jan. 1.

The National Credit Union Administration (NCUA) noted that the thresholds exempt loans from special appraisal requirements for higher-priced mortgage loans and determine exempt consumer credit and lease transactions under Regs Z and M. Under Reg Z, the higher-priced mortgage loans exemption threshold is $28,500 in 2022 (up from $27,200 in 2021). Under Reg M, the exemption threshold for consumer credit transactions and consumer leases is $61,000 in 2022 (up from $58,300 in 2021).

The NCUA alert also notes the increase to $13.50 in the maximum fee a credit reporting agency may charge consumers for report disclosures under the Fair Credit Reporting Act (Regulation V).

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