CFPB Announces 2018 Reg Z Dollar Thresholds

The Consumer Financial Protection Bureau today announced 2018 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.

For credit cards, the penalty fees safe harbor for 2018 will remain at $27 for a first late payment. The subsequent late payment safe harbor fee will remain at $38. The minimum interest charge disclosure threshold will also remain unchanged for 2018. The HOEPA loan threshold will increase slightly to $21,032, and the HOEPA fee trigger will be $1,052, effective Jan. 1.

For Qualified Mortgages, points and fees cannot exceed 3 percent of loans of $105,158 or more; $3,155 for loans between $63,095 and $105,158; 5 percent for loans between $21,032 and $63,095; and 8 percent for loans of less than $13,145.