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The Board and the CFPB are proposing to amend the official interpretations and commentary for the agencies' regulations that implement the Consumer Leasing Act (CLA), which requires that the dollar threshold for exempt consumer credit transactions be adjusted annually by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The proposal would memorialize this as well as the agencies' calculation method for determining the adjustment in years following a year in which there is no annual percentage increase in the CPI-W.
No comments exist for this proposal.