Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Fed, CFPB Set 2013 TILA, Lease Thresholds
WASHINGTON (11/21/13)--The protections of the Truth in Lending Act (TILA) and the Consumer Leasing Act will generally apply to consumer credit transactions and consumer leases of $53,500 or less in 2014, the Federal Reserve reported this week. The agencies are required to adjust this threshold each year.

Private education loans and loans secured by real property, such as mortgage, will be subject to the TILA regardless of the amount of the loan, the Fed said.

The threshold adjustments reflect the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers as of June 1, 2013 and will take effect on Jan. 1, 2014, the Fed said.

For the Fed release, use the resource link.
Other Resources

Fed Release
RSS print
News Now LiveWire
Landmark #creditunion exam parity bill earns @GovernorQuinn signature http://t.co/WcWePlAnfb
7 minutes ago
Fixed-asset cap elimination one item on @TheNCUA board agenda for next week. See #NewsNow http://t.co/N2U5Bq9R24
26 minutes ago
USFCU, Minn., hosts small business networking night. http://t.co/CBFHpJTFZe
17 hours ago
Number of @CUNA-certified fin. counselors hits 2,175 http://t.co/3fQGcdxyLO
17 hours ago
Jobless claims drop by 19,000 this week #Market #NewsNow http://t.co/LSqaYCsmX4
18 hours ago