The CFPB, Fed, and OCC have announced that they are increasing three exemption thresholds that are subject to annual inflation adjustments.  Effective January 1, 2024 through December 31, 2024, these exemption thresholds are increased as follows:

Not surprisingly, the CFPB continues not to make any adjustments to the credit card penalty fees safe harbors, which are set forth in Regulation Z Section 1026.52(b)(1)(ii)(A) and (B) and last adjusted for inflation in 2022.  We expect the CFPB to soon finalize its proposed rule regarding credit card late fees that was issued in February 2023.  In the proposal, the CFPB has proposed to amend Regulation Z to reduce the safe harbor dollar amount for credit card late fees to a flat $8 amount that would apply to both first and subsequent late payments.