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January 11, 2019

The Federal Reserve Board, the Office of the Comptroller of the Currency, the FDIC, the Consumer Financial Protection Bureau, the National Credit Union Administration and the Conference of State Bank Supervisors encouraged financial institutions to work with consumers impacted by the federal government shutdown. The agencies expressed concern that affected borrowers may face hardship with regard to making payments on financial obligations, including mortgages, student loans, car loans, credit cards and other types of debt.

November 30, 2016

The Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, and the Office of the Comptroller of the Currency issued a final rule detailing the method to be used to determine the threshold for exempting smaller mortgage loans from the special appraisal requirements of the Truth in Lending Act . The FRB and CFPB also issued a final rule detailing the method to be used to adjust the thresholds for exempting certain consumer credit and lease transactions from the TILA and from the Consumer Leasing Act.

November 29, 2016

The Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency approved a final rule that detailed the method to be used to adjust annual inflation to the threshold for exempting small loans from special appraisal requirements. The FRB and the CFPB also issued a final rule detailing the method for adjusting the thresholds for exempting certain consumer credit and lease transactions.