On October 10 2019, the CFPB announced a final rule extending the current temporary threshold for collecting and report data related to open-end lines of credit, and incorporating the clarifications from the Bureau’s August 2018 interpretive rule into Reg. C.  The temporary threshold coverage, wherein institutions opening less than 500 open-end lines of credit in either of the preceding two year are not required to collect or report data for either 2020 or 2021. Additionally, the Final Rule extends relief to small institutions vis-à-vis the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCP) to Regulation C, accounting for partial exemptions not previously addressed.

The Bureau press release and the complete text of the Final Rule.