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Federal Register / Vol. 86, No. 209 / Tuesday, November 2, 2021 / Rules and Regulations
adjustments for each year, to reflect the new dollar threshold amounts for 2022.
III. Procedural Requirements A. Administrative Procedure Act Under the Administrative Procedure Act, notice and opportunity for public comment are not required if the Bureau finds that notice and public comment are impracticable, unnecessary, or contrary to the public interest.11
Pursuant to this final rule, in Regulation Z, 1026.52b1iiA and B in subpart G is amended and comments 32a1ii1.vii and 3.vii, 43e3ii 1.vii, and 52b1ii2.i.H in Supplement I are added to update the exemption thresholds. The amendments in this final rule are technical and nondiscretionary, as they merely apply the method previously established in Regulation Z for determining adjustments to the thresholds. Section 1026.43e2vi of Regulation Z is also amended to add a cross-reference to the official commentary of Regulation Z
where historical threshold dollar amounts for 1026.43e2viA
through F can be located. This amendment is technical and for informational purposes only, as it merely provides a cross-reference to existing commentary that will list current and past threshold adjustments already required by Regulation Z. For these reasons, the Bureau has determined that publishing a notice of proposed rulemaking and providing opportunity for public comment are unnecessary. The amendments therefore are adopted in final form.
B. Regulatory Flexibility Act Because no notice of proposed rulemaking is required, the Regulatory Flexibility Act does not require an initial or final regulatory flexibility analysis.12

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C. Paperwork Reduction Act In accordance with the Paperwork Reduction Act of 1995,13 the Bureau reviewed this final rule. No collections of information pursuant to the Paperwork Reduction Act are contained in the final rule.
D. Congressional Review Act Pursuant to the Congressional Review Act 5 U.S.C. 801 et seq., the Bureau will submit a report containing this rule and other required information to the United States Senate, the United States House of Representatives, and the Comptroller General of the United 11 5

U.S.C. 553bB.
U.S.C. 603a, 604a.
13 44 U.S.C. 3506; 5 CFR part 1320.
12 5

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States prior to the rule taking effect. The Office of Information and Regulatory Affairs OIRA has designated this rule as not a major rule as defined by 5
U.S.C. 8042.
E. Signing Authority The Associate Director of Research, Markets, and Regulations, Janis K.
Pappalardo, having reviewed and approved this document, is delegating the authority to electronically sign this document to Laura Galban, Bureau Federal Register Liaison, for purposes of publication in the Federal Register.
List of Subjects in 12 CFR Part 1026
Advertising, Banks, Banking, Consumer protection, Credit, Credit unions, Mortgages, National banks, Reporting and recordkeeping requirements, Savings associations, Truth-in-lending.
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
1. 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.

Subpart ESpecial Rules for Certain Home Mortgage Transactions 2. Amend 1026.43 by revising paragraph e2vi introductory text to read as follows:

1026.43 Minimum standards for transactions secured by a dwelling.

e
2
vi For which the annual percentage rate does not exceed the average prime offer rate for a comparable transaction as of the date the interest rate is set by the amounts specified in paragraphs e2viA through F of this section.
The amounts specified here shall be adjusted annually on January 1 by the annual percentage change in the Consumer Price Index for All Urban Consumers CPIU that was reported on the preceding June 1. For purposes of this paragraph e2vi, the creditor must determine the annual percentage rate for a loan for which the interest rate may or will change within the first five years after the date on which the first regular periodic payment will be due by treating the maximum interest rate that
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may apply during that five-year period as the interest rate for the full term of the loan. See the official commentary to this paragraph e2vi for the current dollar amounts.

Subpart GSpecial Rules Applicable to Credit Card Accounts and Open-End Credit Offered to College Students 3. Amend 1026.52 by revising paragraphs b1iiA and B to read as follows:

1026.52

Limitations on fees.

b
1
ii
A $30;
B $41 if the card issuer previously imposed a fee pursuant to paragraph b1iiA of this section for a violation of the same type that occurred during the same billing cycle or one of the next six billing cycles; or

4. In Supplement I to part 1026:
a. Under Section 1026.32
Requirements for High-Cost Mortgages, Paragraph 32a1ii is revised.
b. Under Section 1026.43Minimum Standards for Transactions Secured by a Dwelling, Paragraphs 43e2vi and 43e3ii are revised.
c. Under Section 1026.52
Limitations on Fees, 52b1ii Safe harbors is revised.
The revisions read as follows:
Supplement I to Part 1026Official Interpretations

Section 1026.32Requirements for High-Cost Mortgages

Paragraph 32a1ii.
1. Annual adjustment of $1,000 amount.
The $1,000 figure in 1026.32a1iiB is adjusted annually on January 1 by the annual percentage change in the CPI that was in effect on the preceding June 1. The Bureau will publish adjustments after the June figures become available each year.
i. For 2015, $1,020, reflecting a 2 percent increase in the CPIU from June 2013 to June 2014, rounded to the nearest whole dollar.
ii. For 2016, $1,017, reflecting a 0.2 percent decrease in the CPIU from June 2014 to June 2015, rounded to the nearest whole dollar.
iii. For 2017, $1,029, reflecting a 1.1
percent increase in the CPIU from June 2015
to June 2016, rounded to the nearest whole dollar.
iv. For 2018, $1,052, reflecting a 2.2
percent increase in the CPIU from June 2016
to June 2017, rounded to the nearest whole dollar.
v. For 2019, $1,077, reflecting a 2.5 percent increase in the CPIU from June 2017 to June 2018, rounded to the nearest whole dollar.

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