Policy Statement on Compliance Aids, 4579-4580 [2020-00648]
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Federal Register / Vol. 85, No. 17 / Monday, January 27, 2020 / Rules and Regulations
Dated: November 19, 2019.
Joseph M. Otting,
Comptroller of the Currency.
By order of the Board of Governors of the
Federal Reserve System, November 19, 2019.
Ann E. Misback,
Secretary of the Board.
Federal Deposit Insurance Corporation.
By order of the Board of Directors.
Dated at Washington, DC, on November 19,
2019.
Annmarie H. Boyd,
Assistant Executive Secretary.
[FR Doc. 2019–28293 Filed 1–24–20; 8:45 am]
BILLING CODE 6210–01–P 4810–33–P; 6714–01–P
BUREAU OF CONSUMER FINANCIAL
PROTECTION
12 CFR Chapter X
Policy Statement on Compliance Aids
Bureau of Consumer Financial
Protection.
ACTION: Policy statement.
AGENCY:
The Bureau of Consumer
Financial Protection (Bureau) is
publishing this policy statement in
order to announce a new designation for
certain Bureau guidance, known as
‘‘Compliance Aids,’’ and to explain the
legal status and role of guidance with
that designation.
DATES: This policy statement becomes
applicable on February 1, 2020.
FOR FURTHER INFORMATION CONTACT:
Christopher Shelton, Counsel, or Lea
Mosena, Senior Counsel, Legal Division,
202–435–7700. Regulatory inquiries can
be submitted at https://
reginquiries.consumerfinance.gov/. If
you require this document in an
alternative electronic format, please
contact CFPB_Accessibility@cfpb.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
I. Background
The Bureau’s ‘‘primary functions’’
under the Dodd-Frank Wall Street
Reform and Consumer Protection Act 1
include issuing guidance implementing
Federal consumer financial law.2 The
Bureau believes that providing clear and
Public Law 111–203, 124 Stat. 2081 (2010).
U.S.C. 5511(c)(5). Moreover, the Dodd-Frank
Act authorizes the Director of the Bureau to issue
guidance as may be necessary or appropriate to
enable the Bureau to administer and carry out the
purposes and objectives of the Federal consumer
financial laws and to prevent evasions thereof. 12
U.S.C. 5512(b)(1). Additionally, the Bureau is
authorized to establish general policies, including
with respect to implementing the Federal consumer
financial laws through guidance. 12 U.S.C.
5492(a)(10).
1
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2 12
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16:03 Jan 24, 2020
Jkt 250001
useful guidance to regulated entities is
an important aspect of facilitating
markets that serve consumers.
Since its inception, the Bureau has
provided guidance through a variety of
means, and its guidance functions have
evolved and are continuing to evolve in
response to feedback from industry and
other stakeholders. Some examples of
compliance resources that the Bureau
has released include small entity
compliance guides, instructional guides
for disclosure forms, executive
summaries, summaries of regulation
changes, factsheets, flow charts,
compliance checklists, frequently asked
questions, and summary tables.
II. Policy Statement on Compliance
Aids
Going forward, the Bureau intends to
establish a new category of materials
that are similar to previous compliance
resources but will now be designated as
‘‘Compliance Aids.’’ This designation
will provide the public with greater
clarity regarding the legal status and
role of these materials, as discussed
below.3
The Bureau does not intend to use
Compliance Aids to make decisions that
bind regulated entities. Unlike the
Bureau’s regulations and official
interpretations, Compliance Aids are
not ‘‘rules’’ under the Administrative
Procedure Act.4 Rather, Compliance
Aids present the requirements of
existing rules and statutes in a manner
that is useful for compliance
professionals, other industry
stakeholders, and the public.5
Compliance Aids may also include
practical suggestions for how entities
might choose to go about complying
3 This policy statement does not apply to
materials that do not bear the label ‘‘Compliance
Aid,’’ or to the use of outdated materials that have
been withdrawn or superseded. It also does not
alter the status of materials that were issued before
this policy statement, although the Bureau may reissue certain existing materials as Compliance Aids
if it is in the public interest and as Bureau resources
permit. Moreover, this policy statement does not
determine the policies of regulators other than the
Bureau.
4 Under the Administrative Procedure Act,
generally a ‘‘rule’’ is an agency statement of general
or particular applicability and future effect
designed to implement, interpret, or prescribe law
or policy. 5 U.S.C. 551(4). The three main categories
of rules are substantive rules, interpretive rules, and
general statements of policy. Some examples of
rules are regulations like Regulation Z, 12 CFR part
1026, and official interpretations like the Official
Interpretations to Regulation Z, 12 CFR part 1026,
supp. I.
5 See, e.g., Golden & Zimmerman, LLC v.
Domenech, 599 F.3d 426, 432 (4th Cir. 2010)
(agency documents like FAQs that ‘‘restate or report
what already exists in the relevant body of statutes,
regulations, and rulings’’ are not themselves rules
under the Administrative Procedure Act).
PO 00000
Frm 00011
Fmt 4700
Sfmt 4700
4579
with those rules and statutes.6 But they
may not address all situations. Where
there are multiple methods of
compliance that are permitted by the
applicable rules and statutes, an entity
can make its own business decision
regarding which method to use, and this
may include a method that is not
specifically addressed in a Compliance
Aid. In sum, regulated entities are not
required to comply with the Compliance
Aids themselves. Regulated entities are
only required to comply with the
underlying rules and statutes.
Compliance Aids are designed to
accurately summarize and illustrate the
underlying rules and statutes.
Accordingly, when exercising its
enforcement and supervisory discretion,
the Bureau does not intend to sanction,
or ask a court to sanction, entities that
reasonably rely on Compliance Aids.
II. Regulatory Requirements
This policy statement constitutes a
general statement of policy that is
exempt from the notice and comment
rulemaking requirements of the
Administrative Procedure Act.7 It is
intended to provide information
regarding the Bureau’s general plans to
exercise its discretion and does not
confer any rights. Because no notice of
proposed rulemaking is required, the
Regulatory Flexibility Act does not
require an initial or final regulatory
flexibility analysis.8 The Bureau has
also determined that this policy
statement 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 approval by the
Office of Management and Budget under
the Paperwork Reduction Act.9
Pursuant to the Congressional Review
Act,10 the Bureau will submit a report
containing this policy statement and
other required information to the United
States Senate, the United States House
of Representatives, and the Comptroller
General of the United States prior to its
applicability date. The Office of
Information and Regulatory Affairs has
designated this policy statement as not
a ‘‘major rule’’ as defined by 5 U.S.C.
804(2).
6 See, e.g., Indus. Safety Equip. Ass’n, Inc. v. EPA,
837 F.2d 1115, 1120–21 (D.C. Cir. 1988) (an
agency’s ‘‘hortatory advice’’ regarding potential
methods for complying with a rule is not itself a
rule under the Administrative Procedure Act).
7 5 U.S.C. 553(b). However, this is not a
‘‘statement of policy’’ as that term is specifically
used in Regulation X, 12 CFR 1024.4(a)(1)(ii).
8 5 U.S.C. 603(a), 604(a).
9 44 U.S.C. 3501–3521.
10 5 U.S.C. 801–808.
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4580
Federal Register / Vol. 85, No. 17 / Monday, January 27, 2020 / Rules and Regulations
Dated: January 10, 2020.
Kathleen L. Kraninger,
Director, Bureau of Consumer Financial
Protection.
4. The National Archives and Records
Administration (NARA). For
information on the availability of this
material at NARA, email fedreg.legal@
nara.gov or go to: https://
www.archives.gov/federal-register/cfr/
ibr-locations.html.
[FR Doc. 2020–00648 Filed 1–24–20; 8:45 am]
BILLING CODE 4810–AM–P
DEPARTMENT OF TRANSPORTATION
All SIAPs and Takeoff Minimums and
ODPs are available online free of charge.
Visit the National Flight Data Center at
nfdc.faa.gov to register. Additionally,
individual SIAP and Takeoff Minimums
and ODP copies may be obtained from
the FAA Air Traffic Organization
Service Area in which the affected
airport is located.
Federal Aviation Administration
14 CFR Part 97
[Docket No. 31292; Amdt. No. 3887]
Standard Instrument Approach
Procedures, and Takeoff Minimums
and Obstacle Departure Procedures;
Miscellaneous Amendments
FOR FURTHER INFORMATION CONTACT:
Federal Aviation
Administration (FAA), DOT.
ACTION: Final rule.
AGENCY:
This rule establishes, amends,
suspends, or removes Standard
Instrument Approach Procedures
(SIAPs) and associated Takeoff
Minimums and Obstacle Departure
Procedures (ODPs) for operations at
certain airports. These regulatory
actions are needed because of the
adoption of new or revised criteria, or
because of changes occurring in the
National Airspace System, such as the
commissioning of new navigational
facilities, adding new obstacles, or
changing air traffic requirements. These
changes are designed to provide safe
and efficient use of the navigable
airspace and to promote safe flight
operations under instrument flight rules
at the affected airports.
DATES: This rule is effective January 27,
2020. The compliance date for each
SIAP, associated Takeoff Minimums,
and ODP is specified in the amendatory
provisions.
The incorporation by reference of
certain publications listed in the
regulations is approved by the Director
of the Federal Register as of January 27,
2020.
ADDRESSES: Availability of matters
incorporated by reference in the
amendment is as follows:
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SUMMARY:
For Examination
1. U.S. Department of Transportation,
Docket Ops–M30, 1200 New Jersey
Avenue SE, West Bldg., Ground Floor,
Washington, DC 20590–0001.
2. The FAA Air Traffic Organization
Service Area in which the affected
airport is located;
3. The office of Aeronautical
Navigation Products, 6500 South
MacArthur Blvd., Oklahoma City, OK
73169 or,
VerDate Sep<11>2014
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Availability
Thomas J. Nichols, Flight Procedures
and Airspace Group, Flight
Technologies and Procedures Division,
Flight Standards Service, Federal
Aviation Administration. Mailing
Address: FAA Mike Monroney
Aeronautical Center, Flight Procedures
and Airspace Group, 6500 South
MacArthur Blvd., Registry Bldg. 29
Room 104, Oklahoma City, OK 73169.
Telephone: (405) 954–4164.
This rule
amends Title 14 of the Code of Federal
Regulations, Part 97 (14 CFR part 97), by
establishing, amending, suspending, or
removes SIAPS, Takeoff Minimums
and/or ODPS. The complete regulatory
description of each SIAP and its
associated Takeoff Minimums or ODP
for an identified airport is listed on FAA
form documents which are incorporated
by reference in this amendment under 5
U.S.C. 552(a), 1 CFR part 51, and 14
CFR part 97.20. The applicable FAA
forms are FAA Forms 8260–3, 8260–4,
8260–5, 8260–15A, and 8260–15B when
required by an entry on 8260–15A.
The large number of SIAPs, Takeoff
Minimums and ODPs, their complex
nature, and the need for a special format
make publication in the Federal
Register expensive and impractical.
Further, airmen do not use the
regulatory text of the SIAPs, Takeoff
Minimums or ODPs, but instead refer to
their graphic depiction on charts
printed by publishers of aeronautical
materials. Thus, the advantages of
incorporation by reference are realized
and publication of the complete
description of each SIAP, Takeoff
Minimums and ODP listed on FAA form
documents is unnecessary. This
amendment provides the affected CFR
sections and specifies the types of
SIAPs, Takeoff Minimums and ODPs
with their applicable effective dates.
This amendment also identifies the
SUPPLEMENTARY INFORMATION:
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airport and its location, the procedure,
and the amendment number.
Availability and Summary of Material
Incorporated by Reference
The material incorporated by
reference is publicly available as listed
in the ADDRESSES section.
The material incorporated by
reference describes SIAPS, Takeoff
Minimums and/or ODPS as identified in
the amendatory language for part 97 of
this final rule.
The Rule
This amendment to 14 CFR part 97 is
effective upon publication of each
separate SIAP, Takeoff Minimums and
ODP as Amended in the transmittal.
Some SIAP and Takeoff Minimums and
textual ODP amendments may have
been issued previously by the FAA in a
Flight Data Center (FDC) Notice to
Airmen (NOTAM) as an emergency
action of immediate flight safety relating
directly to published aeronautical
charts.
The circumstances that created the
need for some SIAP and Takeoff
Minimums and ODP amendments may
require making them effective in less
than 30 days. For the remaining SIAPs
and Takeoff Minimums and ODPs, an
effective date at least 30 days after
publication is provided.
Further, the SIAPs and Takeoff
Minimums and ODPs contained in this
amendment are based on the criteria
contained in the U.S. Standard for
Terminal Instrument Procedures
(TERPS). In developing these SIAPs and
Takeoff Minimums and ODPs, the
TERPS criteria were applied to the
conditions existing or anticipated at the
affected airports. Because of the close
and immediate relationship between
these SIAPs, Takeoff Minimums and
ODPs, and safety in air commerce, I find
that notice and public procedure under
5 U.S.C. 553(b) are impracticable and
contrary to the public interest and,
where applicable, under 5 U.S.C. 553(d),
good cause exists for making some
SIAPs effective in less than 30 days.
The FAA has determined that this
regulation only involves an established
body of technical regulations for which
frequent and routine amendments are
necessary to keep them operationally
current. It, therefore—(1) is not a
‘‘significant regulatory action’’ under
Executive Order 12866; (2) is not a
‘‘significant rule’’ under DOT
Regulatory Policies and Procedures (44
FR 11034; February 26, 1979); and (3)
does not warrant preparation of a
regulatory evaluation as the anticipated
impact is so minimal. For the same
reason, the FAA certifies that this
E:\FR\FM\27JAR1.SGM
27JAR1
Agencies
[Federal Register Volume 85, Number 17 (Monday, January 27, 2020)]
[Rules and Regulations]
[Pages 4579-4580]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-00648]
=======================================================================
-----------------------------------------------------------------------
BUREAU OF CONSUMER FINANCIAL PROTECTION
12 CFR Chapter X
Policy Statement on Compliance Aids
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Policy statement.
-----------------------------------------------------------------------
SUMMARY: The Bureau of Consumer Financial Protection (Bureau) is
publishing this policy statement in order to announce a new designation
for certain Bureau guidance, known as ``Compliance Aids,'' and to
explain the legal status and role of guidance with that designation.
DATES: This policy statement becomes applicable on February 1, 2020.
FOR FURTHER INFORMATION CONTACT: Christopher Shelton, Counsel, or Lea
Mosena, Senior Counsel, Legal Division, 202-435-7700. Regulatory
inquiries can be submitted at https://reginquiries.consumerfinance.gov/. If you require this document in an
alternative electronic format, please contact
[email protected].
SUPPLEMENTARY INFORMATION:
I. Background
The Bureau's ``primary functions'' under the Dodd-Frank Wall Street
Reform and Consumer Protection Act \1\ include issuing guidance
implementing Federal consumer financial law.\2\ The Bureau believes
that providing clear and useful guidance to regulated entities is an
important aspect of facilitating markets that serve consumers.
---------------------------------------------------------------------------
\1\ [thinsp]Public Law 111-203, 124 Stat. 2081 (2010).
\2\ 12 U.S.C. 5511(c)(5). Moreover, the Dodd-Frank Act
authorizes the Director of the Bureau to issue guidance as may be
necessary or appropriate to enable the Bureau to administer and
carry out the purposes and objectives of the Federal consumer
financial laws and to prevent evasions thereof. 12 U.S.C.
5512(b)(1). Additionally, the Bureau is authorized to establish
general policies, including with respect to implementing the Federal
consumer financial laws through guidance. 12 U.S.C. 5492(a)(10).
---------------------------------------------------------------------------
Since its inception, the Bureau has provided guidance through a
variety of means, and its guidance functions have evolved and are
continuing to evolve in response to feedback from industry and other
stakeholders. Some examples of compliance resources that the Bureau has
released include small entity compliance guides, instructional guides
for disclosure forms, executive summaries, summaries of regulation
changes, factsheets, flow charts, compliance checklists, frequently
asked questions, and summary tables.
II. Policy Statement on Compliance Aids
Going forward, the Bureau intends to establish a new category of
materials that are similar to previous compliance resources but will
now be designated as ``Compliance Aids.'' This designation will provide
the public with greater clarity regarding the legal status and role of
these materials, as discussed below.\3\
---------------------------------------------------------------------------
\3\ This policy statement does not apply to materials that do
not bear the label ``Compliance Aid,'' or to the use of outdated
materials that have been withdrawn or superseded. It also does not
alter the status of materials that were issued before this policy
statement, although the Bureau may re-issue certain existing
materials as Compliance Aids if it is in the public interest and as
Bureau resources permit. Moreover, this policy statement does not
determine the policies of regulators other than the Bureau.
---------------------------------------------------------------------------
The Bureau does not intend to use Compliance Aids to make decisions
that bind regulated entities. Unlike the Bureau's regulations and
official interpretations, Compliance Aids are not ``rules'' under the
Administrative Procedure Act.\4\ Rather, Compliance Aids present the
requirements of existing rules and statutes in a manner that is useful
for compliance professionals, other industry stakeholders, and the
public.\5\ Compliance Aids may also include practical suggestions for
how entities might choose to go about complying with those rules and
statutes.\6\ But they may not address all situations. Where there are
multiple methods of compliance that are permitted by the applicable
rules and statutes, an entity can make its own business decision
regarding which method to use, and this may include a method that is
not specifically addressed in a Compliance Aid. In sum, regulated
entities are not required to comply with the Compliance Aids
themselves. Regulated entities are only required to comply with the
underlying rules and statutes.
---------------------------------------------------------------------------
\4\ Under the Administrative Procedure Act, generally a ``rule''
is an agency statement of general or particular applicability and
future effect designed to implement, interpret, or prescribe law or
policy. 5 U.S.C. 551(4). The three main categories of rules are
substantive rules, interpretive rules, and general statements of
policy. Some examples of rules are regulations like Regulation Z, 12
CFR part 1026, and official interpretations like the Official
Interpretations to Regulation Z, 12 CFR part 1026, supp. I.
\5\ See, e.g., Golden & Zimmerman, LLC v. Domenech, 599 F.3d
426, 432 (4th Cir. 2010) (agency documents like FAQs that ``restate
or report what already exists in the relevant body of statutes,
regulations, and rulings'' are not themselves rules under the
Administrative Procedure Act).
\6\ See, e.g., Indus. Safety Equip. Ass'n, Inc. v. EPA, 837 F.2d
1115, 1120-21 (D.C. Cir. 1988) (an agency's ``hortatory advice''
regarding potential methods for complying with a rule is not itself
a rule under the Administrative Procedure Act).
---------------------------------------------------------------------------
Compliance Aids are designed to accurately summarize and illustrate
the underlying rules and statutes. Accordingly, when exercising its
enforcement and supervisory discretion, the Bureau does not intend to
sanction, or ask a court to sanction, entities that reasonably rely on
Compliance Aids.
II. Regulatory Requirements
This policy statement constitutes a general statement of policy
that is exempt from the notice and comment rulemaking requirements of
the Administrative Procedure Act.\7\ It is intended to provide
information regarding the Bureau's general plans to exercise its
discretion and does not confer any rights. Because no notice of
proposed rulemaking is required, the Regulatory Flexibility Act does
not require an initial or final regulatory flexibility analysis.\8\ The
Bureau has also determined that this policy statement 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 approval by the Office of
Management and Budget under the Paperwork Reduction Act.\9\
---------------------------------------------------------------------------
\7\ 5 U.S.C. 553(b). However, this is not a ``statement of
policy'' as that term is specifically used in Regulation X, 12 CFR
1024.4(a)(1)(ii).
\8\ 5 U.S.C. 603(a), 604(a).
\9\ 44 U.S.C. 3501-3521.
---------------------------------------------------------------------------
Pursuant to the Congressional Review Act,\10\ the Bureau will
submit a report containing this policy statement and other required
information to the United States Senate, the United States House of
Representatives, and the Comptroller General of the United States prior
to its applicability date. The Office of Information and Regulatory
Affairs has designated this policy statement as not a ``major rule'' as
defined by 5 U.S.C. 804(2).
---------------------------------------------------------------------------
\10\ 5 U.S.C. 801-808.
[[Page 4580]]
---------------------------------------------------------------------------
Dated: January 10, 2020.
Kathleen L. Kraninger,
Director, Bureau of Consumer Financial Protection.
[FR Doc. 2020-00648 Filed 1-24-20; 8:45 am]
BILLING CODE 4810-AM-P