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CFPB RIN: 3170-AA66 Publication ID: Spring 2017 
Title: Consumer Leasing (Regulation M)  

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) increased the threshold in the Consumer Leasing Act for exempt consumer leases from $25,000 to $50,000, effective July 21, 2011.  In addition, the Dodd-Frank Act requires that, on and after December 31, 2011, this threshold be adjusted annually for inflation by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).  Section 1013.2(e)(1) of the CFPB’s Regulation M and 213.2(e)(1) of the Board’s Regulation M, and their accompanying commentaries, provide that the exemption threshold will be adjusted annually effective January 1 of each year based on any annual percentage increase in the CPI-W that was in effect on the preceding June 1.  The CFPB and the Board issued a proposal on August 4, 2016, to amend the official interpretations to explain that the CFPB and Board will not adjust the exemption threshold from the prior year when there is no annual percentage increase in the CPI-W, and the calculation method for determining the adjustment in years following a year in which there is no annual percentage increase in the CPI-W.  The CFPB worked with the Board to issue jointly a final rule.

Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 1013   
Legal Authority: 15 U.S.C. 1603 note    15 U.S.C. 1667f   
Legal Deadline:  None
Action Date FR Cite
NPRM  08/04/2016  81 FR 51400   
NPRM Comment Period End  09/06/2016 
Final Rule  11/23/2016  81 FR 86256   
Final Rule Effective  01/01/2017 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Joseph Devlin
Office of Regulations
Consumer Financial Protection Bureau
Washington, DC 20552
Phone:202 435-7700