Notice of Public Hearing, 67024-67025 [2022-24173]
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Federal Register / Vol. 87, No. 214 / Monday, November 7, 2022 / Notices
Regarding the CFPB’s Inquiry into Big
Tech Payment Platforms.’’
The CFPB has determined that it is
appropriate to re-open the comment
period to further inform the inquiry
described by the Director in his October
21, 2021 Statement:
Faster, friction-less, and cheaper
payment systems offer significant
potential benefits to consumers,
workers, their families, and small
businesses in the United States. For
example, families can send money to
friends without delay, or to relatives
overseas at lower costs. Fast payment
systems can also help small businesses
succeed with quicker transactions,
lower cost, and more revenue
conversion. And faster settlement can
reduce the need for families and
businesses to borrow.
But payments businesses are network
businesses and can gain tremendous
scale and market power, potentially
posing new risks and undermining fair
competition. Furthermore, knowing
what we spend our money on is a
valuable source of data on consumer
behavior. This data can be monetized by
companies that seek to profit from
behavioral targeting, particularly around
advertising and e-commerce. That many
Big Tech companies aspire to grow in
this space only heightens these
concerns.
In China, we can already see the longterm implications of these forces. Alipay
and WeChat Pay are deeply imbedded
into the lives of the Chinese public,
combining messaging, e-commerce and
payment functionality into super-apps.
In such a market, consumers have little
choice but to use these apps and little
market power to shape how their data
is used.
Today the Consumer Financial
Protection Bureau (CFPB) has ordered
six technology platforms offering
payment services to turn over
information about their products, plans
and practices when it comes to
payments. The orders were issued to
Google, Apple, Facebook, Amazon,
Square, and PayPal. The CFPB will also
study the practices of the Chinese tech
giants that offer payments services, such
as WeChat Pay and Alipay.
Congress has tasked the CFPB with
ensuring that markets for consumer
financial products and services are fair,
transparent, and competitive. To that
end, it has authorized the CFPB to
require participants in the marketplace
to provide information that help the
Bureau monitor risks to consumers and
to publish aggregated findings that are
in the public interest.
Little is known publicly about how
Big Tech companies will exploit their
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payments platforms. For example, will
the operators engage in invasive
financial surveillance and combine the
data they collect on consumers with
their geolocation and browsing data? 2
Will they in turn use this data to deepen
behavioral advertising, engage in price
discrimination, or sell to third parties?
Will these companies operate their
payment platforms in a manner that
interferes with fair, transparent, and
competitive markets? Will the payment
platforms be truly neutral, or will they
use their scale to extract rents from
market participants? Will small
businesses feel coerced into
participating in the payment platform
out of fear of being suppressed or
hidden in search or product listings? If
these tech companies enter a market
that competes with other providers on
the platform, will these providers be
removed or otherwise disadvantaged?
What factors will these tech companies
use when disqualifying or delisting an
individual or business from
participating on the platform?
Finally, how will these payment
platforms ensure that key consumer
protections are adhered to? How
effectively do they manage complaints,
disputes and errors? Are they
sufficiently staffed to ensure adequate
steps are taken to address consumer
protection and provide responsive
customer service when things go
wrong? 3
The CFPB’s inquiry will help to
inform regulators and policymakers
about the future of our payments
system. Importantly, it will also yield
insights that may help the CFPB to
implement other statutory
responsibilities, including any potential
rulemaking under Section 1033 of the
Dodd-Frank Wall Street Reform and
Consumer Protection Act. The CFPB’s
orders build on the efforts of the Federal
Trade Commission’s work to shed light
on the business practices of the largest
technology companies in the world.
The CFPB’s inquiry is one of many
efforts within the Federal Reserve
System to plan for the future of realtime payments and to ensure a fair and
competitive payments system in our
country. The Bureau intends to open a
Federal Register docket to invite public
comment. I invite any interested parties
2 In 2019, I joined global privacy regulators to
seek information about Facebook’s Libra project. At
the time, the company failed to substantively
respond. See https://www.priv.gc.ca/en/opc-news/
speeches/2019/s-d_190805/.
3 The law currently provides for a number of
safeguards in the payments sector, including but
not limited to the Electronic Fund Transfer Act, the
Gramm-Leach-Bliley Act, and the Consumer
Financial Protection Act.
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to submit comments to inform the
agency’s inquiry.
In addition, the Bureau is inviting
comment on the following questions
related to the Bureau’s inquiry:
1. What fees, fines, or other penalties
do large technology companies assess
on users of their payment platforms,
including for:
a. Purported violations of the
technology companies’ acceptable use
policies; or
b. Any other conduct?
2. Do the acceptable use policies for
technology companies’ payment
platforms include provisions that can
restrict access to their platforms? If so,
under what circumstances can the
technology companies restrict access to
their platforms?
Re-opening the comment period will
provide additional opportunity for the
public to prepare comments related to
this inquiry and to comment on the
additional questions. Therefore, the
CFPB is re-opening the comment period
for an additional 30 days.
Rohit Chopra,
Director, Consumer Financial Protection
Bureau.
[FR Doc. 2022–24214 Filed 11–4–22; 8:45 am]
BILLING CODE 4810–AM–P
U.S. INTERNATIONAL DEVELOPMENT
FINANCE CORPORATION
Notice of Public Hearing
U.S. International Development
Finance Corporation.
ACTION: Announcement of public
hearing.
AGENCY:
The Board of Directors of the
U.S. International Development Finance
Corporation (‘‘DFC’’) will hold a public
hearing on December 7, 2022. This
hearing will afford an opportunity for
any person to present views in
accordance the BUILD Act of 2018.
Those wishing to present at the hearing
must provide advance notice to the
agency as detailed below.
DATES: Public hearing: 2 p.m.,
Wednesday, December 7, 2022.
Deadline for notifying agency of an
intent to attend or present at the public
hearing: 5 p.m., Tuesday, November 29,
2022.
Deadline for submitting a written
statement: 5 p.m., Tuesday, November
29, 2022.
ADDRESSES: Public hearing: Virtual;
access information provided at the time
of attendance registration.
You may send notices of intent to
attend, present, or submit a written
SUMMARY:
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Federal Register / Vol. 87, No. 214 / Monday, November 7, 2022 / Notices
statement to Catherine F. I. Andrade,
DFC Corporate Secretary, via email at
candrade@dfc.gov.
Instructions: A notice of intent to
attend the public hearing or to present
at the public hearing must include the
individual’s name, title, organization,
address, email, telephone number, and
a concise summary of the subject matter
to be presented. Oral presentations may
not exceed five (5) minutes. The time for
individual presentations may be
reduced proportionately, if necessary, to
afford all participants who have
submitted a timely request an
opportunity to be heard. Submission of
written statements must include the
individual’s name, title, organization,
address, email, and telephone number.
The statement must be typewritten,
double-spaced, and may not exceed ten
(10) pages.
FOR FURTHER INFORMATION CONTACT:
Catherine F. I. Andrade, DFC Corporate
Secretary, (202) 336–8768, or
candrade@dfc.gov.
SUPPLEMENTARY INFORMATION: The
public hearing will take place via videoand teleconference. Upon registering,
participants and observers will be
provided instructions on accessing the
hearing. DFC will prepare an agenda for
the hearing identifying speakers, setting
forth the subject on which each
participant will speak, and the time
allotted for each presentation. The
agenda will be available at the time of
the hearing.
Authority: 22 U.S.C. 9613(c).
Catherine F. I. Andrade,
DFC Corporate Secretary.
[FR Doc. 2022–24173 Filed 11–4–22; 8:45 am]
BILLING CODE 3210–02–P
DEPARTMENT OF THE DEFENSE
Department of the Army, Corps of
Engineers
Notice of Intent To Prepare a
Supplemental Environmental Impact
Statement for the Mid-Chesapeake Bay
Islands Ecosystem Restoration Project
at James Island
AGENCY:
U.S. Army Corps of Engineers,
DoD.
khammond on DSKJM1Z7X2PROD with NOTICES
ACTION:
Notice of intent.
Pursuant to the requirements
of the National Environmental Policy
Act (NEPA) of 1969, as amended, the
Baltimore District of the U.S. Army
Corps of Engineers (USACE), in
partnership with the Maryland
Department of Transportation’s
Maryland Port Administration, the non-
SUMMARY:
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federal sponsor, plans to prepare a
supplemental Environmental Impact
Statement (sEIS) for the MidChesapeake Bay Island Ecosystem
Restoration Project at James Island (MidBay Island Project). The MidChesapeake Islands Restoration Project
recommends remote island restoration
at James Island and Barren Island, both
on the Eastern Shore of Maryland and
in Dorchester County, MD, through the
beneficial use of dredged material. The
project addresses two needs: (1) the
restoration of remote island habitat to
benefit wildlife including a diverse
assemblage of birds, fish, herpetofauna,
and invertebrates; and (2) the beneficial
use of dredged material from the
maintenance of the approach channels
to Baltimore Harbor. Remote islands, a
critical ecosystem component in the
Chesapeake Bay, are offshore landforms
that provide isolation, lack of human
disturbance, and few predators. These
conditions uniquely support isolated
nesting and foraging habitat for a
diverse assemblage of wildlife.
Extensive island habitat loss has
occurred within the Mid-Chesapeake
Bay, and James Island has nearly
vanished. Sea level rise and related
erosion, as well as land subsidence and
wave action are the primary drivers of
island loss. The project provides an
opportunity to utilize 30 to 70 million
cubic yards of clean dredged material
over a 20-year period to restore 2,072
acres of remote island habitat at James
Island including uplands and wetlands.
The project would convert over 2,000
acres of shallow water habitat in the
waters surrounding James Island to
external dikes and island habitat. There
are expected to be long-term changes to
the aesthetics of the project area as an
effect of the restoration of James Island
in the landscape. The sEIS will update
documentation for NEPA focused on the
James Island component of the project.
USACE is requesting to be provided any
supporting information, analyses, and
alternative identification relevant to the
action being evaluated by this sEIS.
DATES: Comments and suggestions must
be submitted by December 7, 2022.
ADDRESSES: Send written comments and
suggestions concerning the scope of
issues to be evaluated within the sEIS to
Angie Sowers, Integrated Water
Resources Management Specialist, U.S.
Army Corps of Engineers, Baltimore
District, Planning Division—Civil
Project Development Branch, (CENAP–
PLP), 2 Hopkins Plaza, Baltimore, MD
21201, or via email to angela.sowers@
usace.army.mil.
FOR FURTHER INFORMATION CONTACT:
Questions about the overall Mid-Bay
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Island Project should be directed to
Trevor Cyran, Project Manager at
trevor.p.cyran@usace.army.mil or at
(410) 962–4999. Additional information
is available on the project’s web page:
https://www.nab.usace.army.mil/MidBay.
SUPPLEMENTARY INFORMATION:
1. Background
USACE-Baltimore received the
authority to conduct the MidChesapeake Bay Island Ecosystem
Restoration Feasibility Study under the
resolution of the Senate Committee on
Environment and Public Works on 5
June 1997. The feasibility study
recommended remote island restoration
at James Island and Barren Island, both
on the Eastern Shore of Maryland and
in Dorchester County, through the
beneficial use of dredged material. The
study built upon the Federal and State’s
Dredged Material Management Plan
(DMMP) planning efforts to identify
beneficial use sites to meet dredged
material capacity needs and habitat
restoration goals. The feasibility study
determined the technical, economic,
and environmental feasibility of
protecting, restoring, and creating
aquatic, intertidal wetland, and upland
habitat for fish and wildlife within the
Mid-Bay Island Project study area using
clean dredged material from the Upper
Chesapeake Bay Approach Channels.
Section 7002 of the Water Resources
Reform and Development Act (WRDA)
of 2014 authorized the Mid-Bay Island
Project, as described in the Chief’s
Report, (https://planning.erdc.dren.mil/
toolbox/library/ChiefReports/mid_
chesapeake.pdf), dated August 2009,
and the Mid-Chesapeake Bay Island
Ecosystem Restoration Integrated
Feasibility Report and Environmental
Impact Statement (IFR/EIS), dated June
2009. The Federal Register notice (73
FR 56565, September 29, 2008) for the
EIS being supplemented is available at
https://www.govinfo.gov/content/pkg/
FR-2008-09-29/pdf/E8-22764.pdf. The
record of decision (ROD) was signed in
July 2019 initiating the next phase of the
study, Preconstruction Engineering and
Design (PED). In March 2022, USACE
published a supplemental
Environmental Assessment (EA) with a
signed finding of no significant impact
(FONSI) to update NEPA compliance for
the Barren Island component of the
Mid-Bay Island Project. Acknowledging
the scale of the James Island component
of the project and the large-scale marine
construction required to implement the
project, a sEIS will be prepared.
The Mid-Bay Island Project
recommended plan consists of restoring
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]]>Agencies
- U.S. INTERNATIONAL DEVELOPMENT FINANCE CORPORATION
[Federal Register Volume 87, Number 214 (Monday, November 7, 2022)]
[Notices]
[Pages 67024-67025]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-24173]
=======================================================================
-----------------------------------------------------------------------
U.S. INTERNATIONAL DEVELOPMENT FINANCE CORPORATION
Notice of Public Hearing
AGENCY: U.S. International Development Finance Corporation.
ACTION: Announcement of public hearing.
-----------------------------------------------------------------------
SUMMARY: The Board of Directors of the U.S. International Development
Finance Corporation (``DFC'') will hold a public hearing on December 7,
2022. This hearing will afford an opportunity for any person to present
views in accordance the BUILD Act of 2018. Those wishing to present at
the hearing must provide advance notice to the agency as detailed
below.
DATES: Public hearing: 2 p.m., Wednesday, December 7, 2022.
Deadline for notifying agency of an intent to attend or present at
the public hearing: 5 p.m., Tuesday, November 29, 2022.
Deadline for submitting a written statement: 5 p.m., Tuesday,
November 29, 2022.
ADDRESSES: Public hearing: Virtual; access information provided at the
time of attendance registration.
You may send notices of intent to attend, present, or submit a
written
[[Page 67025]]
statement to Catherine F. I. Andrade, DFC Corporate Secretary, via
email at [email protected].
Instructions: A notice of intent to attend the public hearing or to
present at the public hearing must include the individual's name,
title, organization, address, email, telephone number, and a concise
summary of the subject matter to be presented. Oral presentations may
not exceed five (5) minutes. The time for individual presentations may
be reduced proportionately, if necessary, to afford all participants
who have submitted a timely request an opportunity to be heard.
Submission of written statements must include the individual's name,
title, organization, address, email, and telephone number. The
statement must be typewritten, double-spaced, and may not exceed ten
(10) pages.
FOR FURTHER INFORMATION CONTACT: Catherine F. I. Andrade, DFC Corporate
Secretary, (202) 336-8768, or [email protected].
SUPPLEMENTARY INFORMATION: The public hearing will take place via
video- and teleconference. Upon registering, participants and observers
will be provided instructions on accessing the hearing. DFC will
prepare an agenda for the hearing identifying speakers, setting forth
the subject on which each participant will speak, and the time allotted
for each presentation. The agenda will be available at the time of the
hearing.
Authority: 22 U.S.C. 9613(c).
Catherine F. I. Andrade,
DFC Corporate Secretary.
[FR Doc. 2022-24173 Filed 11-4-22; 8:45 am]
BILLING CODE 3210-02-P
