Intent To Make Preemption Determination Under the Truth in Lending Act (Regulation Z)

Document 2022-27059 is a Final Rule published by the Consumer Financial Protection Bureau in the Federal Register on December 15, 2022. The Consumer Financial Protection Bureau (CFPB) has received a written request to make a determination that the Truth in Lending Act (TILA) preempts a New York State commercial financing law with respect to certain provisions. The CFPB is publishing this notification of intent to make a preemption determination about that law and has made a preliminary conclusion that this law is not preempted by TILA. The CFPB is also providing notice that it is considering whether to make a preemption determination regarding State laws in California, Utah, and Virginia that are potentially similar to the New York law. The CFPB is soliciting public comment pursuant to Regulation Z. View the original at https://www.federalregister.gov/documents/2022/12/15/2022-27059/intent-to-make-preemption-determination-under-the-truth-in-lending-act-regulation-z.

No. Document 2022-27059 is not classified as economically significant under Executive Order 12866. Economically significant rules require OIRA review and are estimated to have impacts of $100 million or more per year.