The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended TILA by requiring that the dollar threshold for exempt consumer credit transactions be adjusted annually by any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Accordingly, based on the annual percentage increase in the CPI-W as of June 1, 2014, the Federal Reserve Board and the CFPB are adjusting the exemption threshold to $54,600, effective January 1, 2015. The dollar threshold for exempt consumer credit transactions in 2014 was $53,500. To view the amended rule, click here.
