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Federal Register / Vol. 86, No. 227 / Tuesday, November 30, 2021 / Rules and Regulations
i. Assume that, on July 20, 2011, the account is exempt under 226.3b based on the creditors firm commitment to extend $30,000 in credit. On November 1, 2011, the creditor increases the firm commitment on the account to $55,000. In these circumstances, the account remains exempt under 226.3b1 regardless of subsequent increases in the threshold amount as a result of increases in the CPIW.
ii. Same facts as paragraph 8.i. of this section except, on November 1, 2011, the creditor increases the firm commitment on the account to $40,000.
In these circumstances, the account ceases to be exempt under 226.3b2
after December 31, 2011, and the creditor must begin to comply with the applicable requirements of this part.

BUREAU OF CONSUMER FINANCIAL
PROTECTION
Authority and Issuance For the reasons set forth in the preamble, the Bureau amends Regulation Z, 12 CFR part 1026, as set forth below:
PART 1026TRUTH IN LENDING
REGULATION Z
3. The authority citation for part 1026
continues to read as follows:

Authority: 12 U.S.C. 2601, 26032605, 2607, 2609, 2617, 3353, 5511, 5512, 5532, 5581; 15 U.S.C. 1601 et seq.

4. In Supplement I to part 1026, under Section 1026.3Exempt Transactions, revise 3bCredit Over Applicable Threshold Amount to read as follows:

Supplement I to Part 1026Official Interpretations

Section 1026.3Exempt Transactions

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3b Credit Over Applicable Threshold Amount 1. Threshold amount. For purposes of 1026.3b, the threshold amount in effect during a particular period is the amount stated in comment 3b3 below for that period. The threshold amount is adjusted effective January 1 of each year by any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers CPIW that was in effect on the preceding June 1. Comment 3b3 will be amended to provide the threshold amount for the upcoming year after the annual percentage change in the CPIW
that was in effect on June 1 becomes
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available. Any increase in the threshold amount will be rounded to the nearest $100 increment. For example, if the annual percentage increase in the CPI
W would result in a $950 increase in the threshold amount, the threshold amount will be increased by $1,000. However, if the annual percentage increase in the CPIW would result in a $949 increase in the threshold amount, the threshold amount will be increased by $900.
2. No increase in the CPIW. If the CPIW in effect on June 1 does not increase from the CPIW in effect on June 1 of the previous year, the threshold amount effective the following January 1 through December 31 will not change from the previous year. When this occurs, for the years that follow, the threshold is calculated based on the annual percentage change in the CPIW applied to the dollar amount that would have resulted, after rounding, if decreases and any subsequent increases in the CPIW had been taken into account.
i. Net increases. If the resulting amount calculated, after rounding, is greater than the current threshold, then the threshold effective January 1 the following year will increase accordingly.
ii. Net decreases. If the resulting amount calculated, after rounding, is equal to or less than the current threshold, then the threshold effective January 1 the following year will not change, but future increases will be calculated based on the amount that would have resulted.
3. Threshold. For purposes of 1026.3b, the threshold amount in effect during a particular period is the amount stated below for that period.
i. Prior to July 21, 2011, the threshold amount is $25,000.
ii. From July 21, 2011 through December 31, 2011, the threshold amount is $50,000.
iii. From January 1, 2012 through December 31, 2012, the threshold amount is $51,800.
iv. From January 1, 2013 through December 31, 2013, the threshold amount is $53,000.
v. From January 1, 2014 through December 31, 2014, the threshold amount is $53,500.
vi. From January 1, 2015 through December 31, 2015, the threshold amount is $54,600.
vii. From January 1, 2016 through December 31, 2016, the threshold amount is $54,600.
viii. From January 1, 2017 through December 31, 2017, the threshold amount is $54,600.

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ix. From January 1, 2018 through December 31, 2018, the threshold amount is $55,800.
x. From January 1, 2019 through December 31, 2019, the threshold amount is $57,200.
xi. From January 1, 2020 through December 31, 2020, the threshold amount is $58,300.
xii. From January 1, 2021 through December 31, 2021, the threshold amount is $58,300.
xiii. From January 1, 2022 through December 31, 2022, the threshold amount is $61,000.
4. Open-end credit. i. Qualifying for exemption. An open-end account is exempt under 1026.3b unless secured by real property, or by personal property used or expected to be used as the consumers principal dwelling if either of the following conditions is met:
A. The creditor makes an initial extension of credit at or after account opening that exceeds the threshold amount in effect at the time the initial extension is made. If a creditor makes an initial extension of credit after account opening that does not exceed the threshold amount in effect at the time the extension is made, the creditor must have satisfied all of the applicable requirements of this part from the date the account was opened or earlier, if applicable, including but not limited to the requirements of 1026.6 accountopening disclosures, 1026.7 periodic statements, 1026.52 limitations on fees, and 1026.55 limitations on increasing annual percentage rates, fees, and charges. For example:
1. Assume that the threshold amount in effect on January 1 is $50,000. On February 1, an account is opened but the creditor does not make an initial extension of credit at that time. On July 1, the creditor makes an initial extension of credit of $60,000. In this circumstance, no requirements of this part apply to the account.
2. Assume that the threshold amount in effect on January 1 is $50,000. On February 1, an account is opened but the creditor does not make an initial extension of credit at that time. On July 1, the creditor makes an initial extension of credit of $50,000 or less. In this circumstance, the account is not exempt and the creditor must have satisfied all of the applicable requirements of this part from the date the account was opened or earlier, if applicable.
B. The creditor makes a firm written commitment at account opening to extend a total amount of credit in excess of the threshold amount in effect at the time the account is opened with no
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