On 11/18/2020, the CFPB issued a number of thresholds for 2021 under Regulation Z, as well as a threshold under Regulation M. First, the CFPB announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2021 will remain the same as it was in 2020, at $27,200.

In addition, the threshold exempting certain loans from the Truth in Lending Act as well as the Consumer Leasing Act in 2021 will continue to apply to consumer credit transaction and consumer lease of $58,300 or less. The last time this threshold was unchanged was in 2017 when the threshold amount remained the same as the 2016 amount of $54,600.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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