In the November 27, 2015, issue of the Federal Register (80 FR 73947, click here), the Consumer Financial Protection Bureau (CFPB) and Federal Reserve Board (FRB) issued a final rule that the threshold for exempting consumer loans from Regulation Z during 2016 will remain $54,600. This threshold amount exemption will be effective January 1, 2016, and is the same threshold that applied in 2015. To implement this 2016 threshold amount, the CFPB and FRB are revising the official interpretations to their respective regulations to add new comments as follows: • CFPB – Comment 3(b)-1.vii in Supplement I of 12 CFR part 1026; and • FRB – Comment 3(b)-1.vii to Supplement I of 12 CFR part 226.

Complete Memorandum