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About
About
Created by the U.S. Congress in 1970, the National Credit Union Administration is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions.
Regulation & Supervision
Regulation & Supervision
The NCUA protects the safety and soundness of the credit union system by identifying, monitoring and reducing risks to the National Credit Union Share Insurance Fund. Backed by the full faith and credit of the United States, the Share Insurance Fund provides up to $250,000 of federal share insurance to millions of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.
Analysis
Analysis
The NCUA’s economists and analysts compile data on the credit union system’s financial performance, merger activity, changes in credit union chartering and fields of membership, as well as broader economic trends affecting credit unions. Users can find information on a single credit union or analyze broader nation-wide trends.
Support Services
Support Services
The NCUA provides a number of support services to the credit union system, such as providing training, grants and loans, chartering, and field-of-membership services; maintaining the health and stability of Share Insurance Fund; managing the assets of failed credit unions; and providing emergency liquidity.
Consumers
Consumers
The NCUA works to protect credit union members and consumers, raise awareness of potential frauds, facilitate access to affordable financial services, and educate consumers on the importance of savings and how they can improve their financial well-being.
News
News
Stay up to date on the NCUA's activities by subscribing to the NCUA's Express messages. Read press releases, speeches, testimony, and Annual Reports. Register for upcoming conferences and events.

CFPB Announces Adjusted 2020 TILA Fees and Thresholds

19-13 / August 2019

CFPB Announces Adjusted 2020 TILA Fees and Thresholds

Subject

Consumer Lending

Status

Active

On August 1, the Consumer Financial Protection Bureau issued a final rule amending Regulation Z thresholds and fee caps in 2020 for several parts of the Truth in Lending Act. Products affected include credit cards, qualified mortgages and loans under the Home Ownership and Equity Protection Act of 1994.

For credit card accounts under the Credit Card Accountability Responsibility and Disclosure Act, the CFPB increased by $1.00 the amount for the safe harbor for both first violation and subsequent violation penalty fees.

The amendments raise the loan amount trigger for HOEPA coverage. They also increase the maximum points and fees thresholds under the qualified mortgage and HOEPA provisions. The qualified mortgage thresholds are tiered according to loan size.

Credit unions should read the final rule to see the exact amounts of the changes.

Additional Information

Credit unions can find more information about the affected products on the NCUA’s Consumer Compliance Regulatory Resources page.

Please contact the Office of Consumer Financial Protection at 703.518.1140 or by email at ComplianceMail@ncua.gov if you have questions. You can also contact your NCUA regional office or your state supervisory authority.

Last modified on

11/05/20