Two adjustments to thresholds under lending disclosure and credit reporting rules were announced Thursday by the federal consumer financial protection agency.
The Consumer Financial Protection Bureau (CFPB) said the first threshold adjustment resulted from a final rule it issued amending the official interpretations for Regulation Z, (Truth in Lending Act (TILA)).
The agency noted it is required to calculate annually the dollar amounts for several provisions in Reg Z. “This final rule revises dollar amounts for certain provisions implementing TILA and amendments to TILA impacting HOEPA (Home Ownership and Equity Protection Act) loans and qualified mortgages,” the agency said in a notice.
For open-end consumer credit plans under TILA, the agency said, the threshold that triggers requirements to disclose minimum interest charges will remain unchanged at $1.00 in 2025. For HOEPA loans, the adjusted total loan amount threshold for high-cost mortgages in 2025 will be $26,968.
The second adjustment is to the maximum amount consumer reporting agencies may charge consumers for making a file disclosure to a consumer under the Fair Credit Reporting Act (FCRA). CFPB said the ceiling on allowable charges under Section 612(f) of the FCRA will remain unchanged at $15.50, effective for 2025.
Both adjustments are applicable Jan. 1, CFPB said.