The CFPB, Fed, and OCC have announced that they are increasing three exemption thresholds that are subject to annual inflation adjustments.  Effective January 1, 2023 through December 31, 2023, these exemption thresholds are increased as follows:

• Smaller loans exempt from the appraisal requirement for “higher-priced mortgage loans” are increased from $28,500 to $31,000.
• Consumer credit transactions exempt from the Truth in Lending Act/Regulation Z are increased from $61,000 to $64,000 (but loans secured by real property or personal property used or expected to be used as a consumer’s principal dwelling and private education loans are covered regardless of amount).
• Consumer leases exempt from the Consumer Leasing Act/Regulation M are increased from $61,000 to $64,000.

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