CFPB Announces 2022 Reg Z Dollar Thresholds

The CFPB announced 2022 changes in dollar thresholds for several Regulation Z provisions governed by the CARD Act, the Home Ownership and Equity Protection Act and the Dodd-Frank Act. The thresholds are based on changes in the Consumer Price Index and take effect on Jan. 1, 2022.

For credit cards, the penalty fees safe harbor for 2022 increased to $30 for a first late payment. The subsequent late payment safe harbor fee also increased to $41. The minimum interest charge disclosure threshold will remain unchanged for 2022 at $1. The loan amount at which HOEPA’s points-and-fees test comes into effect will increase to $22,969, and the HOEPA points-and-fees trigger will rise to $1,148.