Truth in Lending (Regulation Z) Annual Threshold Adjustments (Credit Cards, HOEPA, and Qualified Mortgages)
| Published date | 29 November 2019 |
| Citation | 84 FR 65646 |
| Record Number | 2019-25812 |
| Section | Rules and Regulations |
| Court | Consumer Financial Protection Bureau |
Federal Register, Volume 84 Issue 230 (Friday, November 29, 2019)
[Federal Register Volume 84, Number 230 (Friday, November 29, 2019)]
[Rules and Regulations]
[Pages 65646-65647]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-25812]
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BUREAU OF CONSUMER FINANCIAL PROTECTION
12 CFR Part 1026
Truth in Lending (Regulation Z) Annual Threshold Adjustments
(Credit Cards, HOEPA, and Qualified Mortgages)
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Final rule; correction.
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SUMMARY: The Bureau of Consumer Financial Protection (Bureau) published
a final rule in the Federal Register on August 1, 2019 amending the
regulation text and official interpretations for Regulation Z, which
implements the Truth in Lending Act (TILA), to include annual
calculations for dollar amounts for several provisions in Regulation Z.
This document corrects an error in one of the amendments to the
official interpretation for Regulation Z.
DATES: Effective January 1, 2020.
FOR FURTHER INFORMATION CONTACT: Kristen Phinnessee, Senior Counsel,
Office of Regulations, at (202) 435-7700. If you require this document
in an alternative electronic format, please contact
[email protected].
SUPPLEMENTARY INFORMATION:
I. Background
The Bureau is issuing this document to correct an error in one of
the amendments to the official interpretation for Regulation Z. The
Bureau finds that there is good cause to publish this correction
without seeking public comment.\1\ Public comment is unnecessary
because the Bureau is correcting an inadvertent, technical error about
which there is minimal, if any, basis for substantive disagreement.
Because no notice of proposed
[[Page 65647]]
rulemaking is required, the Regulatory Flexibility Act does not require
an initial or final regulatory flexibility analysis.\2\ The Bureau has
determined that these corrections do not impose any new or revise any
existing recordkeeping, reporting, or disclosure requirements on
covered entities or members of the public that would be collections of
information requiring OMB approval under the Paperwork Reduction
Act.\3\
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\1\ See 5 U.S.C. 553(b)(B).
\2\ 5 U.S.C. 603(a) and 604(a).
\3\ 44 U.S.C. 3501, et seq.
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II. Correction
In FR Doc. 2019-16300 appearing on page 37565 in the Federal
Register of Thursday, August 1, 2019, the following correction is made:
Supplement I to Part 1026--Official Interpretations [Corrected]
0
1. On page 37567, in the third column, in Supplement I to part 1026,
Section 1026.32--Requirements for High-Cost Mortgages, paragraph
32(a)(1)(ii), part 1.vi., ``For 2020, $21,980, reflecting a 2 percent
increase in the CPI-U from June 2018 to June 2019, rounded to the
nearest whole dollar'' is corrected to read ``For 2020, $1,099,
reflecting a 2 percent increase in the CPI-U from June 2018 to June
2019, rounded to the nearest whole dollar.''
Dated: November 21, 2019.
Thomas Pahl,
Policy Associate Director, Bureau of Consumer Financial Protection.
[FR Doc. 2019-25812 Filed 11-27-19; 8:45 am]
BILLING CODE 4810-AM-P
