CFPB Announces Updated TILA Fees Threshold
The CFPB is required to calculate the dollar amounts for several provisions in Regulation Z annually. The final rule revises, as applicable, the dollar amounts for provisions implementing TILA and amendments to TILA, including under the Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009, the Home Ownership and Equity Protection Act of 1994 (HOEPA), and the Dodd-Frank Act.
Credit unions need to be sure they are updating policies on a continual basis to keep up with new regulations.
TCT Risk Solutions provides Compliance and Policy Preparation services that aid small credit unions in meeting regulatory compliance issues and help draft effective policies.