Three federal agencies have rolled out plans to jointly update the thresholds the government uses to determine if regulators need to vet or appraise lending transactions that are exempt from U.S. laws, the Morning Consult reported on Friday. The two proposals from the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency and the Federal Reserve deal with thresholds that the 2010 Dodd-Frank law established for small loans, consumer lending and leases. Dodd-Frank updated the Truth in Lending Act and the Consumer Leasing Act with changes to how the government adjusts the thresholds related to inflation and the Consumer Price Index for Urban Wage Earners and Clerical Workers. The agencies have not yet published the proposals in the Federal Register for public comment.
