This story appeared in Bank Digest.
The Consumer Financial Protection Bureau has made annual inflation adjustments to asset-size thresholds set by its regulations that implement the Home Mortgage Disclosure Act and the Truth in Lending Act. All of the changes are applicable on Jan. 1, 2019. The HMDA asset-size threshold for exemptions from data collection requirements is adjusted to increase to $46 million from $45 million.
The TILA asset-size threshold for exemptions from the requirement to establish escrow accounts for higher-priced mortgage loans has been increased to $2.167 billion from $2.112 billion. This asset limit will also apply during a grace period, in certain circumstances, with respect to transactions with applications received before April 1 of 2020.
In addition, the Bureau has increased the ceiling on allowable charges consumer reporting agencies may issue to consumers for disclosures under the Fair Credit Reporting Act from $12.00 to $12.50, effective for 2019.