Agency Information Collection Activities: Comment Request, 30256-30257 [2016-11424]
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Federal Register / Vol. 81, No. 94 / Monday, May 16, 2016 / Notices
under Review’’, use the dropdown
menu ‘‘Select Agency’’ and select
‘‘Consumer Financial Protection
Bureau’’ (recent submissions to OMB
will be at the top of the list). The same
documentation is also available at
https://www.regulations.gov. Requests for
additional information should be
directed to the Consumer Financial
Protection Bureau, (Attention: PRA
Office), 1700 G Street, NW.,
Washington, DC 20552, (202) 435–9575,
or email: CFPB_PRA@cfpb.gov. Please
do not submit comments to this email
box.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
SUPPLEMENTARY INFORMATION:
Title of Collection: Application
Process for Designation of Rural Area
under Federal Consumer Financial Law.
OMB Control Number: 3170–0061.
Type of Review: Extension without
change of a currently approved
collection.
Affected Public: Private sector (banks
and credit unions).
Estimated Number of Respondents: 1.
Estimated Total Annual Burden
Hours: 5.
Abstract: Section 89002 of the HELP
Rural Communities Act (Pub. L. 114–94)
requires the Bureau to establish an
application process under which a
person may apply to have an area
designated by the Bureau as a rural area
for purposes of a Federal consumer
financial law. On March 3, 2016, the
Bureau published a Final rule in the
Federal Register (81 FR 11099) which
sets forth the procedure for making this
application and requires the applicant
to submit information identifying the
area for which the request is made, and
the justification for granting the area
rural status. While the rule specifies
what information is to be included, it
does not specify to the form or format
of the information.
Request for Comments: The Bureau
issued a 60-day Federal Register notice
on February 18, 2016 (81 FR 8179).
Comments were solicited and continue
to be invited on: (a) Whether the
collection of information is necessary
for the proper performance of the
functions of the Bureau, including
whether the information will have
practical utility; (b) The accuracy of the
Bureau’s estimate of the burden of the
collection of information, including the
validity of the methods and the
assumptions used; (c) Ways to enhance
the quality, utility, and clarity of the
information to be collected; and (d)
Ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
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Comments submitted in response to this
notice will be summarized and/or
included in the request for OMB
approval. All comments will become a
matter of public record.
Dated: May 10, 2016.
Darrin A. King,
Paperwork Reduction Act Officer, Bureau of
Consumer Financial Protection.
[FR Doc. 2016–11425 Filed 5–13–16; 8:45 am]
BILLING CODE 4810–AM–P
BUREAU OF CONSUMER FINANCIAL
PROTECTION
[Docket No. CFPB–2016–0022]
Agency Information Collection
Activities: Comment Request
Bureau of Consumer Financial
Protection.
ACTION: Notice and request for comment.
AGENCY:
In accordance with the
Paperwork Reduction Act of 1995
(PRA), the Consumer Financial
Protection Bureau (Bureau) is requesting
to renew the Office of Management and
Budget (OMB) approval for an existing
information collection titled,
‘‘Evaluation of Financial Empowerment
Training Program.’’
DATES: Written comments are
encouraged and must be received on or
before July 15, 2016 to be assured of
consideration.
ADDRESSES: You may submit comments,
identified by the title of the information
collection, OMB Control Number (see
below), and docket number (see above),
by any of the following methods:
• Electronic: https://
www.regulations.gov. Follow the
instructions for submitting comments.
• Mail: Consumer Financial
Protection Bureau (Attention: PRA
Office), 1700 G Street, NW.,
Washington, DC 20552.
• Hand Delivery/Courier: Consumer
Financial Protection Bureau (Attention:
PRA Office), 1275 First Street NE.,
Washington, DC 20002.
Please note that comments submitted
after the comment period will not be
accepted. In general, all comments
received will become public records,
including any personal information
provided. Sensitive personal
information, such as account numbers
or Social Security numbers, should not
be included.
FOR FURTHER INFORMATION CONTACT:
Documentation prepared in support of
this information collection request is
available at www.regulations.gov.
Requests for additional information
should be directed to the Consumer
SUMMARY:
PO 00000
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Financial Protection Bureau, (Attention:
PRA Office), 1700 G Street NW.,
Washington, DC 20552, (202) 435–9575,
or email: CFPB_PRA@cfpb.gov. Please
do not submit comments to this
mailbox.
SUPPLEMENTARY INFORMATION:
Title of Collection: Evaluation of
Financial Empowerment Training
Program.
OMB Control Number: 3170–0038.
Type of Review: Extension with
change of a currently approved
collection.
Affected Public: Individuals,
government social services entities, and
not-for-profit institutions.
Estimated Number of Respondents:
15,750.
Estimated Total Annual Burden
Hours: 10,338.
Abstract: The Bureau’s Office of
Financial Empowerment
(Empowerment) is responsible for
developing strategies to improve the
financial capability of low-income and
economically vulnerable consumers,
such as consumers who are unbanked or
underbanked, those with thin or no
credit file, and households with limited
savings. To address the needs of these
consumers, Empowerment has
developed the Your Money, Your Goals
toolkit and training program. These
resources equip frontline staff and
volunteers in a range of organizations to
provide relevant and effective
information, tools, and technical
assistance designed to improve the
financial outcomes and capability of
these vulnerable consumers. The Bureau
seeks to renew approval of the
information collection plan (ICP) to
collect qualitative data related to
evaluating the effectiveness of this
toolkit, collateral materials, and training
program. The proposed collections will
focus on evaluating: (1) Your Money,
Your Goals training practices, toolkit,
and collateral materials in enhancing
the ability of frontline staff and
volunteers to inform and educate lowincome consumers about managing their
finances; (2) and to assess the scope of
workshop participants’ use of the
resources with the people they serve.
The Bureau expects to collect
qualitative data through paper-based
and web-based surveys.
Request for Comments: Comments are
invited on: (a) Whether the collection of
information is necessary for the proper
performance of the functions of the
Bureau, including whether the
information will have practical utility;
(b) The accuracy of the Bureau’s
estimate of the burden of the collection
of information, including the validity of
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Federal Register / Vol. 81, No. 94 / Monday, May 16, 2016 / Notices
the methods and the assumptions used;
(c) Ways to enhance the quality, utility,
and clarity of the information to be
collected; and (d) Ways to minimize the
burden of the collection of information
on respondents, including through the
use of automated collection techniques
or other forms of information
technology. Comments submitted in
response to this notice will be
summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record.
1. Introduction
that is fair, transparent, and
competitive, and that works for all
consumers. One of the tools the CFPB
uses to further this goal is the
supervision of bank and nonbank
institutions that offer consumer
financial products and services. In this
tenth edition of Supervisory Highlights,
the CFPB shares recent supervisory
observations in the areas of consumer
reporting, debt collection, mortgage
origination, remittances, student loan
servicing, and fair lending. One of the
Bureau’s goals is to provide information
that enables industry participants to
ensure their operations remain in
compliance with Federal consumer
financial law. The findings reported
here reflect information obtained from
supervisory activities completed during
the period under review as captured in
examination reports or supervisory
letters. In some instances, not all
corrective actions, including through
enforcement, have been completed at
the time of this report’s publication.
The CFPB’s supervisory activities
have either led to or supported three
recent public enforcement actions,
resulting in $52.75 million in consumer
remediation and other payments and an
additional $8.5 million in civil money
penalties. The Bureau also imposed
other corrective actions at these
institutions, including requiring
improved compliance management
systems (CMS). In addition to these
public enforcement actions, Supervision
continues to resolve violations using
non-public supervisory actions. When
Supervision examinations determine
that a supervised entity has violated a
statute or regulation, Supervision
directs the entity to implement
appropriate corrective measures,
including remediation of consumer
harm when appropriate. Recent
supervisory resolutions have resulted in
restitution of approximately $14.3
million to more than 228,000
consumers. Other corrective actions
have included, for example, furnishing
corrected information to consumer
reporting agencies, improving training
for employees to prevent various law
violations, and establishing and
maintaining required policies and
procedures.
This report highlights supervision
work generally completed between
September 2015 and December 2015,
though some completion dates may
vary. Any questions or comments from
supervised entities can be directed to
CFPB_Supervision@cfpb.gov.
The Consumer Financial Protection
Bureau (CFPB or Bureau) is committed
to a consumer financial marketplace
2. Supervisory Observations
Summarized below are some recent
examination observations in consumer
Dated: May 10, 2016.
Darrin A. King,
Paperwork Reduction Act Officer, Bureau of
Consumer Financial Protection.
[FR Doc. 2016–11424 Filed 5–13–16; 8:45 am]
BILLING CODE 4810–AM–P
BUREAU OF CONSUMER FINANCIAL
PROTECTION
Supervisory Highlights: Winter 2016
Bureau of Consumer Financial
Protection.
ACTION: Supervisory Highlights; notice.
AGENCY:
The Bureau of Consumer
Financial Protection (CFPB) is issuing
its tenth edition of its Supervisory
Highlights. In this issue, the CFPB
shares findings from recent
examinations in the areas of student
loan servicing, remittances, mortgage
origination, debt collection, and
consumer reporting. This issue also
shares important updates to past fair
lending settlements reached by the
CFPB. As in past editions, this report
includes information about recent
public enforcement actions that
resulted, at least in part, from our
supervisory work. Finally, the report
recaps recent developments to the
CFPB’s supervision program, such as
the release of updated fair lending
examination procedures and guidance
documents in the areas of credit
reporting, in-person debt collection, and
preauthorized electronic fund transfers.
DATES: The Bureau released this edition
of the Supervisory Highlights on its Web
site on March 8, 2016.
FOR FURTHER INFORMATION CONTACT:
Christopher J. Young, Managing Senior
Counsel and Chief of Staff, Office of
Supervision Policy, 1700 G Street NW.,
20552, (202) 435–7408.
SUPPLEMENTARY INFORMATION:
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SUMMARY:
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30257
reporting, debt collection, mortgage
origination, remittances, student loan
servicing, and fair lending. As the
CFPB’s Supervision program progresses,
we will continue to share positive
practices found in the course of
examinations (see sections 2.2.1, 2.4.4,
and 2.5.1), as well as common
opportunities for improvement.
One such common area for
improvement is the accuracy of
information about consumers that is
supplied to consumer reporting
agencies. As discussed in previous
issues, credit reports are vital to a
consumer’s access to credit; they can be
used to determine eligibility for credit,
and how much consumers will pay for
that credit. Given this, the accuracy of
information furnished by financial
institutions to consumer reporting
agencies is of the utmost importance. As
in the last issue of Supervisory
Highlights, this issue shares
observations regarding the furnishing of
consumer information across a number
of product areas (see sections 2.1.1,
2.1.2, 2.1.4, 2.2.1 and 2.5.5).
2.1 Consumer Reporting
CFPB examiners conducted one or
more reviews of compliance with
furnisher obligations under the Fair
Credit Reporting Act (FCRA) and its
implementing regulation, Regulation V,
at depository institutions. The reviews
focused on (i) entities furnishing
information (furnishers) to nationwide
specialty consumer reporting agencies
(NSCRAs) that specialize in reporting in
connection with deposit accounts and
(ii) NSCRAs themselves.
2.1.1 Furnisher Failure To Have
Reasonable Policies and Procedures
Regarding Information Furnished to
NSCRAs
Regulation V requires companies that
furnish information to consumer
reporting companies to establish and
implement reasonable written policies
and procedures regarding the accuracy
and integrity of the information they
furnish. Whether policies and
procedures are reasonable depends on
the nature, size, complexity, and scope
of each furnisher’s activities. Examiners
found that while one or more furnishers
had policies and procedures generally
pertaining to FCRA furnishing
obligations, they failed to have policies
and procedures addressing the
furnishing of information related to
deposit accounts. One or more
furnishers also lacked processes or
policies to verify data furnished through
automated internal systems. For
example, one or more furnishers
established automated systems to
E:\FR\FM\16MYN1.SGM
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]]>Agencies
[Federal Register Volume 81, Number 94 (Monday, May 16, 2016)]
[Notices]
[Pages 30256-30257]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-11424]
-----------------------------------------------------------------------
BUREAU OF CONSUMER FINANCIAL PROTECTION
[Docket No. CFPB-2016-0022]
Agency Information Collection Activities: Comment Request
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA),
the Consumer Financial Protection Bureau (Bureau) is requesting to
renew the Office of Management and Budget (OMB) approval for an
existing information collection titled, ``Evaluation of Financial
Empowerment Training Program.''
DATES: Written comments are encouraged and must be received on or
before July 15, 2016 to be assured of consideration.
ADDRESSES: You may submit comments, identified by the title of the
information collection, OMB Control Number (see below), and docket
number (see above), by any of the following methods:
Electronic: https://www.regulations.gov. Follow the
instructions for submitting comments.
Mail: Consumer Financial Protection Bureau (Attention: PRA
Office), 1700 G Street, NW., Washington, DC 20552.
Hand Delivery/Courier: Consumer Financial Protection
Bureau (Attention: PRA Office), 1275 First Street NE., Washington, DC
20002.
Please note that comments submitted after the comment period will
not be accepted. In general, all comments received will become public
records, including any personal information provided. Sensitive
personal information, such as account numbers or Social Security
numbers, should not be included.
FOR FURTHER INFORMATION CONTACT: Documentation prepared in support of
this information collection request is available at
www.regulations.gov. Requests for additional information should be
directed to the Consumer Financial Protection Bureau, (Attention: PRA
Office), 1700 G Street NW., Washington, DC 20552, (202) 435-9575, or
email: CFPB_PRA@cfpb.gov. Please do not submit comments to this
mailbox.
SUPPLEMENTARY INFORMATION:
Title of Collection: Evaluation of Financial Empowerment Training
Program.
OMB Control Number: 3170-0038.
Type of Review: Extension with change of a currently approved
collection.
Affected Public: Individuals, government social services entities,
and not-for-profit institutions.
Estimated Number of Respondents: 15,750.
Estimated Total Annual Burden Hours: 10,338.
Abstract: The Bureau's Office of Financial Empowerment
(Empowerment) is responsible for developing strategies to improve the
financial capability of low-income and economically vulnerable
consumers, such as consumers who are unbanked or underbanked, those
with thin or no credit file, and households with limited savings. To
address the needs of these consumers, Empowerment has developed the
Your Money, Your Goals toolkit and training program. These resources
equip frontline staff and volunteers in a range of organizations to
provide relevant and effective information, tools, and technical
assistance designed to improve the financial outcomes and capability of
these vulnerable consumers. The Bureau seeks to renew approval of the
information collection plan (ICP) to collect qualitative data related
to evaluating the effectiveness of this toolkit, collateral materials,
and training program. The proposed collections will focus on
evaluating: (1) Your Money, Your Goals training practices, toolkit, and
collateral materials in enhancing the ability of frontline staff and
volunteers to inform and educate low-income consumers about managing
their finances; (2) and to assess the scope of workshop participants'
use of the resources with the people they serve. The Bureau expects to
collect qualitative data through paper-based and web-based surveys.
Request for Comments: Comments are invited on: (a) Whether the
collection of information is necessary for the proper performance of
the functions of the Bureau, including whether the information will
have practical utility; (b) The accuracy of the Bureau's estimate of
the burden of the collection of information, including the validity of
[[Page 30257]]
the methods and the assumptions used; (c) Ways to enhance the quality,
utility, and clarity of the information to be collected; and (d) Ways
to minimize the burden of the collection of information on respondents,
including through the use of automated collection techniques or other
forms of information technology. Comments submitted in response to this
notice will be summarized and/or included in the request for OMB
approval. All comments will become a matter of public record.
Dated: May 10, 2016.
Darrin A. King,
Paperwork Reduction Act Officer, Bureau of Consumer Financial
Protection.
[FR Doc. 2016-11424 Filed 5-13-16; 8:45 am]
BILLING CODE 4810-AM-P
