CFPB sets annual Truth in Lending threshold adjustments

The Consumer Financial Protection Bureau has announced the 2024 dollar amounts for the annual threshold adjustments for Regulation Z, which implements the Truth in Lending Act.

For open-end consumer credit plans under TILA, the threshold that triggers requirements to disclose minimum interest charges will remain unchanged at $1 in 2024. For Home Ownership and Equity Protection Act loans, the adjusted total loan amount threshold for high-cost mortgages will be $26,092. The adjusted points-and-fees dollar trigger for high-cost mortgages will be $1,305.