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MTS files not importing in Premiere CC 2014

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I just installed the new updates and tried to start a new project in Premiere CC 2014 and import MTS files. I get an error message saying "The file has an unsupported compression type."

 

I have worked with MTS files in premiere for a while now but I'm stuck going back to the old Premiere CC because it's the only way I can import these files. I thought one of the great new things in CC 2014 was BETTER support for MTS and other formats.

 

Please help! I am really excited about all the new features in this update and want to be able to use them for work but right now I'm super disappointed.

 

Thanks,

Jase


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