I bet you thought that you were all wrapped up on your compliance news for 2022, huh? Well…not so fast! On December 28, 2022, The CFPB released the final HMDA threshold and the remaining Regulation Z thresholds.
- The HMDA threshold was increased from $50 million in 2022 to $54 million in 2023.
- The HPML Small Creditor Threshold was increased from $2.336 billion to $2.537 billion in 2023.
- The HPML Intermediate Creditor Threshold was increased from $10.473 billion to $11.371 billion in 2023
- The Reg Z Credit Card Safe Harbor Penalty Fees remain unchanged at $30 for a first violation and $41for each subsequent violation.
We at COMPLIANCE RESOURCE strive to make your job easier! For that reason, we’ve compiled charts (including historical data) for all the threshold changes. You can find all the 2023 thresholds by CLICKING HERE.
HAPPY NEW YEAR!