Policy Guidance on Supervisory and Enforcement Priorities Regarding Early Compliance With the 2016 Amendments to the 2013 Mortgage Rules Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z), 29713-29714 [2017-13799]

Download as PDF Federal Register / Vol. 82, No. 125 / Friday, June 30, 2017 / Rules and Regulations you that the request cannot be processed in the specified time limit. In such cases, NCUA will make available its FOIA Public Liaison and notify you of the right to seek dispute resolution services from the Office of Government Information Services. ■ 7. In § 792.16, revise paragraph (c) to read as follows: § 792.16 What unusual circumstances can delay NCUA’s response? * * * * * (c) If NCUA sends you an extension notice, it will also advise you that you can either limit the scope of your request so that it can be processed within the statutory time limit or agree to an alternative time frame for processing your request. In such cases, NCUA will make available its FOIA Public Liaison and notify you of the right to seek dispute resolution services from the Office of Government Information Services. ■ 8. Revise § 792.17 to read as follows: mstockstill on DSK30JT082PROD with RULES § 792.17 What can I do if the time limit passes and I still have not received a response? (a) If NCUA does not comply with the time limits under § 792.15, or as extended under § 792.16, you do not have to pay search fees; requesters qualifying for free search fees will not have to pay duplication fees. However, if NCUA has extended the time limits under § 792.16 and must review more than 5,000 pages to respond to the request, NCUA may charge you search fees (or for requesters qualifying for free search fees, duplication fees), if NCUA has discussed with you via written mail, electronic mail, or telephone (or made not less than 3 good-faith attempts to do so) how you could effectively limit the scope of the request. (b) You can seek assistance from the FOIA Public Liaison or dispute resolution services from the Office of Government Information Services. You also can file suit against NCUA because you will be deemed to have exhausted your administrative remedies if NCUA fails to comply with the time limit provisions of this subpart. If NCUA can show that exceptional circumstances exist and that it is exercising due diligence in responding to your request, the court may retain jurisdiction and allow NCUA to complete its review of the records. You may have to pay search or duplication fees if a court has determined that exceptional circumstances exist and has extended the time limits for NCUA’s response by a court order. In determining whether exceptional circumstances exist, the court may consider your refusal to VerDate Sep<11>2014 17:26 Jun 29, 2017 Jkt 241001 modify the scope of your request or arrange an alternative time frame for processing after being given the opportunity to do so by NCUA, when it notifies you of the existence of unusual circumstances as set forth in § 792.16. ■ 9. In § 792.28, revise the introductory text to read as follows: § 792.28 What if I am not satisfied with the response I receive? If you are not satisfied with NCUA’s response to your request, you can seek dispute resolution services from the FOIA Public Liaison and the Office of Government Information Services, and you can file an administrative appeal. Your appeal must be in writing and must be filed within 90 days from receipt of the initial determination (in cases of denials of the entire request or denials of a fee waiver or reduction), or from receipt of any records being made available pursuant to the initial determination (in cases of partial denials). In the response to your initial request, the Freedom of Information Act Officer or the Inspector General (or designee), will notify you that you may appeal any adverse determination to the Office of General Counsel. The General Counsel, or designee, as set forth in this paragraph, will: * * * * * [FR Doc. 2017–13640 Filed 6–29–17; 8:45 am] BILLING CODE 7535–01–P BUREAU OF CONSUMER FINANCIAL PROTECTION 12 CFR Parts 1024 and 1026 [Docket No. CFPB–2017–0016] Policy Guidance on Supervisory and Enforcement Priorities Regarding Early Compliance With the 2016 Amendments to the 2013 Mortgage Rules Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z) Bureau of Consumer Financial Protection. ACTION: Policy guidance. AGENCY: The Consumer Financial Protection Bureau (Bureau) is issuing policy guidance on its supervisory and enforcement priorities regarding early compliance with the final rule it issued in August 2016 (2016 Mortgage Servicing Final Rule) amending certain of the Bureau’s mortgage servicing rules. DATES: The Bureau released this Policy Guidance on its Web site on June 27, 2017. SUMMARY: PO 00000 Frm 00015 Fmt 4700 Sfmt 4700 29713 FOR FURTHER INFORMATION CONTACT: Joel L. Singerman, Counsel, or Laura A. Johnson, Senior Counsel, Office of Regulations, at 202–435–7700. SUPPLEMENTARY INFORMATION: I. Summary On August 4, 2016, the Bureau issued the 2016 Mortgage Servicing Final Rule clarifying, revising, or amending certain of the Bureau’s mortgage servicing rules.1 Each of the changes will take effect on either Thursday, October 19, 2017, or Thursday, April 19, 2018.2 The Bureau has heard concerns that these midweek effective dates for the 2016 Mortgage Servicing Final Rule could create operational challenges for servicers. The Bureau understands that, for many servicers, the Thursday effective dates could afford less than a full day—from the close of business overnight on each of the preceding Wednesdays—to update and test systems in order to be compliant with the 2016 amendments. If servicers do not have sufficient time to complete these tasks, their systems may be more likely to produce errors, which could expose servicers and consumers to risk. Industry participants have notified the Bureau that implementing the 2016 Mortgage Servicing Final Rule during the weekend, with early compliance beginning on the Monday before each of the respective Thursday effective dates, would address these concerns. The Bureau understands industry’s concerns and believes that, in the context of the 2016 Mortgage Servicing Final Rule, servicers and consumers are likely to benefit if servicers have the weekend immediately before each of the effective dates to update and test their systems. The Bureau does not, therefore, intend to take supervisory or enforcement action for violations of existing Regulation X or Regulation Z resulting from a servicer’s compliance with the 2016 Mortgage Servicing Final Rule occurring up to three days before the applicable effective dates. For these purposes, ‘‘up to three days before the applicable effective dates’’ means, for the amendments that will take effect on Thursday, October 19, 2017, the period of Monday, October 16, through Wednesday, October 18, 2017; and, for the amendments that will take effect on Thursday, April 19, 2018, the period of Monday, April 16, through Wednesday, April 18, 2018. 1 Amendments to the 2013 Mortgage Rules under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z), 81 FR 72160 (Oct. 19, 2016). 2 See id. at 72160, 72349–50. E:\FR\FM\30JNR1.SGM 30JNR1 29714 Federal Register / Vol. 82, No. 125 / Friday, June 30, 2017 / Rules and Regulations II. Regulatory Requirements ACTION: This Policy Guidance is a non-binding general statement of policy articulating considerations relevant to the Bureau’s exercise of its supervisory and enforcement authority. It is therefore exempt from notice and comment rulemaking requirements under the Administrative Procedure Act pursuant to 5 U.S.C. 553(b). Because no notice of proposed rulemaking is required, the Regulatory Flexibility Act does not require an initial or final regulatory flexibility analysis. 5 U.S.C. 603(a), 604(a). The Bureau has determined that this Policy Guidance does not impose any new or revise any existing recordkeeping, reporting, or disclosure requirements on covered entities or members of the public that would be collections of information requiring OMB approval under the Paperwork Reduction Act, 44 U.S.C. 3501, et seq. SUMMARY: Dated: June 26, 2017. Richard Cordray, Director, Bureau of Consumer Financial Protection. Background [FR Doc. 2017–13799 Filed 6–29–17; 8:45 am] BILLING CODE 4810–25–P DEPARTMENT OF COMMERCE Bureau of Industry and Security 15 CFR Part 744 Control Policy: End-User and End-Use Based CFR Correction In Title 15 of the Code of Federal Regulations, Parts 300 to 799, revised as of January 1, 2017, on page 498, in supplement number 4 to part 744, under United Arab Emirates, remove the entry for ‘‘Indira Mirchandani’’. ■ [FR Doc. 2017–13802 Filed 6–29–17; 8:45 am] BILLING CODE 1301–00–P DEPARTMENT OF HOMELAND SECURITY U.S. Customs and Border Protection 19 CFR Part 111 mstockstill on DSK30JT082PROD with RULES [Docket No. USCBP–2016–0059; CBP Dec. No. 17–05] RIN 1651–AB07 Modernization of the Customs Brokers Examination U.S. Customs and Border Protection, Department of Homeland Security. AGENCY: VerDate Sep<11>2014 17:26 Jun 29, 2017 Jkt 241001 Final rule. This document adopts as a final rule, with changes, the amendments proposed to the U.S. Customs and Border Protection (CBP) regulations concerning the customs broker’s examination provisions. Specifically, this rule transitions the examination to a computer automated customs broker examination, adjusts the dates of the examination to account for the fiscal year transition period and payment schedule requirements, and increases the examination fee to cover the cost of delivering the exam. DATES: Effective July 31, 2017. FOR FURTHER INFORMATION CONTACT: Julia Peterson, Chief, Broker Management Branch, Office of Trade, U.S. Customs and Border Protection, (202) 863–6601, julia.peterson@cbp.dhs.gov. SUPPLEMENTARY INFORMATION: Section 641 of the Tariff Act of 1930, as amended (19 U.S.C. 1641), provides, among other things, that a person (an individual, corporation, association, or partnership) must hold a valid customs broker’s license and permit in order to transact customs business on behalf of others, sets forth standards for the issuance of a broker’s license and permit, and provides for disciplinary action against brokers that have engaged in specific infractions. This section also provides that an examination may be conducted to assess an applicant’s qualifications for a license. The regulations issued under the authority of section 641 are set forth in title 19 of the Code of Federal Regulations, part 111 (19 CFR part 111). Part 111 sets forth the regulations regarding, among other things, the licensing of, and granting of permits to, persons desiring to transact customs business as customs brokers. These regulations also include the qualifications required of applicants and the procedures for applying for licenses and permits, including examination procedures and requirements. Currently, a customs broker’s examination consists of a paper test booklet and a scannable answer sheet which is administered by the Office of Personnel Management (OPM). CBP supplements OPM’s resources by providing CBP officials to proctor the examination and space to conduct the examination. There is a $200 fee to take the examination. This fee, which has not changed since 2000, currently does not cover the administrative costs of the paper-based examination as the costs of administering the examination have PO 00000 Frm 00016 Fmt 4700 Sfmt 4700 increased. At the same time that CBP is looking to update its fee to reflect the costs of administering the exam, OPM has informed CBP that it will no longer administer the paper-based examination and it is shifting all the examinations it administers to an electronic format. On September 14, 2016, CBP published a document in the Federal Register (81 FR 63149) proposing to amend title 19 of the Code of Federal Regulations (‘‘19 CFR’’) to modernize the customs broker’s examination provisions. Specifically, CBP proposed amending the customs broker’s examination provisions, which are contained in 19 CFR part 111, to permit automation of the examination. CBP proposed removing references to the ‘‘written’’ examination to accommodate the transition from the paper and pencil format to an electronic format; and proposed removing the requirement that CBP grade the examinations to permit officials at the Office of Personnel Management (OPM) or OPM contractors to grade the examinations. CBP proposed removing the reference to ‘‘Headquarters’’ to allow CBP offices nationwide to assist in preparing the examination. CBP also proposed moving the examination dates to the fourth Monday in April and October to allow more time between the start of the federal fiscal year and the October examination date. To cover the costs of administering the examination, plus the cost of automating the examination, CBP proposed to increase the fee. CBP proposed removing the special examination provision because it was unnecessary. Finally, to better reflect CBP’s organizational structure, CBP proposed updating the information on whom to contact when an applicant either would miss an examination, or would file an appeal of examination results. CBP proposed these changes to benefit both applicants and CBP. For applicants, automation would standardize the testing environment and equipment for all examinations, and provide earlier notification of test scores. For CBP, automation would provide for a more efficient use of CBP staff and administrative resources. The notice of proposed rulemaking requested public comments. The public comment period closed on November 14, 2016. Discussion of Comments Eight comments were received in response to the notice of proposed rulemaking. Comment: Six commenters sought clarification about the transition from a paper and pencil format to computer automated examinations as described in E:\FR\FM\30JNR1.SGM 30JNR1

Agencies

[Federal Register Volume 82, Number 125 (Friday, June 30, 2017)]
[Rules and Regulations]
[Pages 29713-29714]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-13799]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

12 CFR Parts 1024 and 1026

[Docket No. CFPB-2017-0016]


Policy Guidance on Supervisory and Enforcement Priorities 
Regarding Early Compliance With the 2016 Amendments to the 2013 
Mortgage Rules Under the Real Estate Settlement Procedures Act 
(Regulation X) and the Truth in Lending Act (Regulation Z)

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Policy guidance.

-----------------------------------------------------------------------

SUMMARY: The Consumer Financial Protection Bureau (Bureau) is issuing 
policy guidance on its supervisory and enforcement priorities regarding 
early compliance with the final rule it issued in August 2016 (2016 
Mortgage Servicing Final Rule) amending certain of the Bureau's 
mortgage servicing rules.

DATES: The Bureau released this Policy Guidance on its Web site on June 
27, 2017.

FOR FURTHER INFORMATION CONTACT: Joel L. Singerman, Counsel, or Laura 
A. Johnson, Senior Counsel, Office of Regulations, at 202-435-7700.

SUPPLEMENTARY INFORMATION:

I. Summary

    On August 4, 2016, the Bureau issued the 2016 Mortgage Servicing 
Final Rule clarifying, revising, or amending certain of the Bureau's 
mortgage servicing rules.\1\ Each of the changes will take effect on 
either Thursday, October 19, 2017, or Thursday, April 19, 2018.\2\ The 
Bureau has heard concerns that these midweek effective dates for the 
2016 Mortgage Servicing Final Rule could create operational challenges 
for servicers. The Bureau understands that, for many servicers, the 
Thursday effective dates could afford less than a full day--from the 
close of business overnight on each of the preceding Wednesdays--to 
update and test systems in order to be compliant with the 2016 
amendments. If servicers do not have sufficient time to complete these 
tasks, their systems may be more likely to produce errors, which could 
expose servicers and consumers to risk. Industry participants have 
notified the Bureau that implementing the 2016 Mortgage Servicing Final 
Rule during the weekend, with early compliance beginning on the Monday 
before each of the respective Thursday effective dates, would address 
these concerns.
---------------------------------------------------------------------------

    \1\ Amendments to the 2013 Mortgage Rules under the Real Estate 
Settlement Procedures Act (Regulation X) and the Truth in Lending 
Act (Regulation Z), 81 FR 72160 (Oct. 19, 2016).
    \2\ See id. at 72160, 72349-50.
---------------------------------------------------------------------------

    The Bureau understands industry's concerns and believes that, in 
the context of the 2016 Mortgage Servicing Final Rule, servicers and 
consumers are likely to benefit if servicers have the weekend 
immediately before each of the effective dates to update and test their 
systems. The Bureau does not, therefore, intend to take supervisory or 
enforcement action for violations of existing Regulation X or 
Regulation Z resulting from a servicer's compliance with the 2016 
Mortgage Servicing Final Rule occurring up to three days before the 
applicable effective dates. For these purposes, ``up to three days 
before the applicable effective dates'' means, for the amendments that 
will take effect on Thursday, October 19, 2017, the period of Monday, 
October 16, through Wednesday, October 18, 2017; and, for the 
amendments that will take effect on Thursday, April 19, 2018, the 
period of Monday, April 16, through Wednesday, April 18, 2018.

[[Page 29714]]

II. Regulatory Requirements

    This Policy Guidance is a non-binding general statement of policy 
articulating considerations relevant to the Bureau's exercise of its 
supervisory and enforcement authority. It is therefore exempt from 
notice and comment rulemaking requirements under the Administrative 
Procedure Act pursuant to 5 U.S.C. 553(b). Because no notice of 
proposed rulemaking is required, the Regulatory Flexibility Act does 
not require an initial or final regulatory flexibility analysis. 5 
U.S.C. 603(a), 604(a). The Bureau has determined that this Policy 
Guidance does not impose any new or revise any existing recordkeeping, 
reporting, or disclosure requirements on covered entities or members of 
the public that would be collections of information requiring OMB 
approval under the Paperwork Reduction Act, 44 U.S.C. 3501, et seq.

    Dated: June 26, 2017.
Richard Cordray,
Director, Bureau of Consumer Financial Protection.
[FR Doc. 2017-13799 Filed 6-29-17; 8:45 am]
 BILLING CODE 4810-25-P