Fair Credit Reporting Act Disclosures, 72364-72365 [2022-25751]
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72364
Federal Register / Vol. 87, No. 226 / Friday, November 25, 2022 / Rules and Regulations
(1) 100 acres × 6.0 tons = 600 tons
guarantee;
(2) 600 tons × $100.00 price election
= $60,000.00 value of guarantee;
(3) Not applicable;
(4) 200 tons × $100.00 price election
= $20,000.00 value of production to
count;
(5) Not applicable;
(6) $60,000.00¥$20,000.00 =
$40,000.00 loss; and
(7) $40,000.00 × 100 percent =
$40,000.00 indemnity payment.
You also have a 100 percent share in
100 acres of type B processing sweet
corn in the same unit, with a guarantee
of 60 tons per acre and a price election
of $90.00 per ton. You are only able to
harvest 350 tons. Your total indemnity
for both types A and B would be
calculated as follows:
(1) 100 acres × 6.0 tons = 600 tons
guarantee for type A, and 100 acres × 6.0
tons = 600 tons guarantee for type B;
(2) 600 tons × $100.00 price election
= $60,000.00 value of guarantee for type
A, and 600 tons × $90.00 price election
= $54,000.00 value of guarantee for type
B;
(3) $60,000.00 + $54,000.00 =
$114,000.00 total value of guarantee;
(4) 200 tons × $100.00 price election
= $20,000.00 value of production to
count for type A, and 350 tons × $90.00
price election = $31,500.00 value of
production to count for type B;
(5) $20,000.00 + $31,500.00 =
$51,500.00 total value of production to
count;
(6) $114,000.00¥$51,500.00 =
$62,500.00 loss; and
(7) $62,500.00 loss × 100 percent =
$62,500.00 indemnity payment.
5. Amend § 457.171, in section 1, by
removing the definition of ‘‘Crop Year’’
and adding a definition for ‘‘Crop year’’
in its place to read as follows:
■
§ 457.171 Cabbage crop insurance
provisions.
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1. Definitions
khammond on DSKJM1Z7X2PROD with RULES
*
*
*
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Crop year. In lieu of the definition
contained in section 1 of the Basic
Provisions, a period of time that begins
on the first day of the earliest planting
period and continues through the last
day of the insurance period for the latest
planting period. The crop year is
designated by the calendar year in
VerDate Sep<11>2014
15:54 Nov 23, 2022
Jkt 259001
Marcia Bunger,
Manager, Federal Crop Insurance
Corporation.
[FR Doc. 2022–25529 Filed 11–23–22; 8:45 am]
BILLING CODE 3410–08–P
BUREAU OF CONSUMER FINANCIAL
PROTECTION
12 CFR Part 1022
Fair Credit Reporting Act Disclosures
Bureau of Consumer Financial
Protection.
ACTION: Final rule; official
interpretation.
AGENCY:
The Consumer Financial
Protection Bureau (Bureau) is issuing
this final rule amending an appendix for
Regulation V, which implements the
Fair Credit Reporting Act (FCRA). The
Bureau is required to calculate annually
the dollar amount of the maximum
allowable charge for disclosures by a
consumer reporting agency to a
consumer pursuant to FCRA section
609; this final rule establishes the
maximum allowable charge for the 2023
calendar year.
DATES: This final rule is effective
January 1, 2023.
FOR FURTHER INFORMATION CONTACT:
Adrien Fernandez, Counsel, Thomas
Dowell, Senior Counsel; Office of
Regulations, at (202) 435–7700. If you
require this document in an alternative
electronic format, please contact CFPB_
Accessibility@cfpb.gov.
SUPPLEMENTARY INFORMATION: The
Bureau is amending Appendix O to
Regulation V, which implements the
FCRA, to establish the maximum
allowable charge for disclosures by a
consumer reporting agency to a
consumer for 2023. The maximum
allowable charge will be $14.50 for
2023.
SUMMARY:
I. Background
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which the cabbage planted in the latest
planting period is normally harvested.
*
*
*
*
*
Under section 609 of the FCRA, a
consumer reporting agency must, upon
a consumer’s request, disclose to the
consumer information in the consumer’s
file.1 Section 612(a) of the FCRA gives
consumers the right to a free file
disclosure upon request once every 12
months from the nationwide consumer
reporting agencies and nationwide
specialty consumer reporting agencies.2
1 15
2 15
PO 00000
U.S.C. 1681g.
U.S.C. 1681j(a).
Frm 00006
Fmt 4700
Sfmt 4700
Section 612 of the FCRA also gives
consumers the right to a free file
disclosure under certain other, specified
circumstances.3 Where the consumer is
not entitled to a free file disclosure,
section 612(f)(1)(A) of the FCRA
provides that a consumer reporting
agency may impose a reasonable charge
on a consumer for making a file
disclosure. Section 612(f)(1)(A) of the
FCRA provides that the charge for such
a disclosure shall not exceed $8.00 and
shall be indicated to the consumer
before making the file disclosure.4
Section 612(f)(2) of the FCRA also
states that the $8.00 maximum amount
shall increase on January 1 of each year,
based proportionally on changes in the
Consumer Price Index, with fractional
changes rounded to the nearest fifty
cents.5 Such increases are based on the
Consumer Price Index for All Urban
Consumers (CPI–U), which is the most
general Consumer Price Index and
covers all urban consumers and all
items.
II. Adjustment
For 2023, the ceiling on allowable
charges under section 612(f) of the
FCRA will be $14.50, an increase of one
dollar from 2022. The Bureau is using
the $8.00 amount set forth in section
612(f)(1)(A)(i) of the FCRA as the
baseline for its calculation of the
increase in the ceiling on reasonable
charges for certain disclosures made
under section 609 of the FCRA. Since
the effective date of section 612(a) was
September 30, 1997, the Bureau
calculated the proportional increase in
the CPI–U from September 1997 to
September 2022. The Bureau then
determined what modification, if any,
from the original base of $8.00 should
be made effective for 2023, given the
requirement that fractional changes be
rounded to the nearest fifty cents.
Between September 1997 and
September 2022, the CPI–U increased by
84.124 percent from an index value of
161.2 in September 1997 to a value of
296.808 in September 2022. An increase
of 84.124 percent in the $8.00 base
figure would lead to a figure of $14.73.
However, because the statute directs
that the resulting figure be rounded to
the nearest $0.50, the maximum
allowable charge is $14.50. The Bureau
therefore determines that the maximum
3 15 U.S.C. 1681j(b)–(d). The maximum allowable
charge announced by the Bureau does not apply to
requests made under section 612(a)–(d) of the
FCRA. The charge does apply when a consumer
who orders a file disclosure has already received a
free annual file disclosure and does not otherwise
qualify for an additional free file disclosure.
4 15 U.S.C. 1681j(f)(1)(A).
5 15 U.S.C. 1681j(f)(2).
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25NOR1
Federal Register / Vol. 87, No. 226 / Friday, November 25, 2022 / Rules and Regulations
allowable charge for the year 2023 will
increase to $14.50.
III. Procedural Requirements
A. Administrative Procedure Act
Under the Administrative Procedure
Act (APA), notice and opportunity for
public comment are not required if the
Bureau finds that notice and public
comment are impracticable,
unnecessary, or contrary to the public
interest.6 Pursuant to this final rule, in
Regulation V, Appendix O is amended
to update the maximum allowable
charge for 2023 under section 612(f).
The amendments in this final rule are
technical and non-discretionary, as they
merely apply the method previously
established in Regulation V for
determining adjustments to the
thresholds. For these reasons, the
Bureau has determined that publishing
a notice of proposed rulemaking and
providing opportunity for public
comment are unnecessary. The
amendments therefore are adopted in
final form.
B. Regulatory Flexibility Act
The Regulatory Flexibility Act (RFA)
does not apply to a rulemaking where a
general notice of proposed rulemaking
is not required.7 As noted previously,
the Bureau has determined that it is
unnecessary to publish a general notice
of proposed rulemaking for this final
rule. Accordingly, the RFA’s
requirement relating to an initial and
final regulatory flexibility analysis do
not apply.
khammond on DSKJM1Z7X2PROD with RULES
C. Paperwork Reduction Act
The information collections contained
in Regulation V, which implements the
FCRA, are approved by Office of
Management and Budget under Control
number 3170–0002. The current
approval for this control number expires
on November 30, 2023. In accordance
with the Paperwork Reduction Act of
1995,8 the Bureau reviewed this final
rule. The Bureau has determined that
this rule does not create any new
information collections or substantially
revise any existing collections.
D. Congressional Review Act
Pursuant to the Congressional Review
Act (5 U.S.C. 801 et seq.), the Bureau
will submit a report containing this rule
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 the rule taking effect. The
65
U.S.C. 553(b)(B).
U.S.C. 603(a), 604(a).
8 44 U.S.C. 3506; 5 CFR part 1320.
75
VerDate Sep<11>2014
15:54 Nov 23, 2022
Jkt 259001
Office of Information and Regulatory
Affairs has designated this rule as not a
‘‘major rule’’ as defined by 5 U.S.C.
804(2).
IV. Signing Authority
Senior Advisor Brian Shearer, having
reviewed and approved this document,
is delegating the authority to sign this
document electronically to Grace Feola,
Bureau Federal Register Liaison, for
purposes of publication in the Federal
Register.
List of Subjects in 12 CFR Part 1022
Banks, banking, Consumer protection,
Credit unions, Holding companies,
National banks, Privacy, Reporting and
recordkeeping requirements, Savings
associations.
Authority and Issuance
For the reasons set forth in the
preamble, the Bureau amends
Regulation V, 12 CFR part 1022, as set
forth below:
PART 1022—FAIR CREDIT
REPORTING (REGULATION V)
1. The authority citation for part 1022
continues to read as follows:
■
Authority: 12 U.S.C. 5512, 5581; 15 U.S.C.
1681a, 1681b, 1681c, 1681c–1, 1681e, 1681g,
1681i, 1681j, 1681m, 1681s, 1681s–2, 1681s–
3, and 1681t; sec. 214, Public Law 108–159,
117 Stat. 1952.
2. Appendix O is revised to read as
follows:
■
Appendix O to Part 1022—Reasonable
Charges for Certain Disclosures
Section 612(f) of the FCRA, 15 U.S.C.
1681j(f), directs the Bureau to increase the
maximum allowable charge a consumer
reporting agency may impose for making a
disclosure to the consumer pursuant to
section 609 of the FCRA, 15 U.S.C. 1681g, on
January 1 of each year, based proportionally
on changes in the Consumer Price Index,
with fractional changes rounded to the
nearest fifty cents. The Bureau will publish
notice of the maximum allowable charge
each year by amending this appendix. For
calendar year 2023, the maximum allowable
charge is $14.50. For historical purposes:
1. For calendar year 2012, the maximum
allowable disclosure charge was $11.50.
2. For calendar year 2013, the maximum
allowable disclosure charge was $11.50.
3. For calendar year 2014, the maximum
allowable disclosure charge was $11.50.
4. For calendar year 2015, the maximum
allowable disclosure charge was $12.00.
5. For calendar year 2016, the maximum
allowable disclosure charge was $12.00.
6. For calendar year 2017, the maximum
allowable disclosure charge was $12.00.
7. For calendar year 2018, the maximum
allowable disclosure charge was $12.00.
8. For calendar year 2019, the maximum
allowable disclosure charge was $12.50.
PO 00000
Frm 00007
Fmt 4700
Sfmt 4700
72365
9. For calendar year 2020, the maximum
allowable disclosure charge was $12.50.
10. For calendar year 2021, the maximum
allowable disclosure charge was $13.00.
11. For calendar year 2022, the maximum
allowable disclosure charge was $13.50.
12. For calendar year 2023, the maximum
allowable disclosure charge is $14.50.
Grace Feola,
Federal Register Liaison, Consumer Financial
Protection Bureau.
[FR Doc. 2022–25751 Filed 11–23–22; 8:45 am]
BILLING CODE 4810–AM–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 25
[Docket No. FAA–2022–1283; Special
Conditions No. 25–833–SC]
Special Conditions: Airbus SAS Model
A380–800 Series Airplanes; Electronic
System Security Protection From
Unauthorized Internal Access
Federal Aviation
Administration (FAA), DOT.
ACTION: Final special conditions; request
for comments.
AGENCY:
These special conditions are
issued for Airbus SAS (Airbus) Model
A380–800 series airplanes. These
airplanes will have a novel or unusual
design feature when compared to the
state of technology envisioned in the
airworthiness standards for transportcategory airplanes. This design feature
is associated with the installation of a
digital system that contains a wireless
and hardwired network with hosted
application functionality that allows
access, from sources internal to the
airplane, to the airplane’s internal
electronic components. The applicable
airworthiness regulations do not contain
adequate or appropriate safety standards
for this design feature. These special
conditions contain the additional safety
standards that the Administrator
considers necessary to establish a level
of safety equivalent to that established
by the existing airworthiness standards.
DATES: This action is effective on Airbus
on November 25, 2022. Send comments
on or before January 9, 2023.
ADDRESSES: Send comments identified
by Docket No. FAA–2022–1283 using
any of the following methods:
• Federal eRegulations Portal: Go to
https://www.regulations.gov/ and follow
the online instructions for sending your
comments electronically.
• Mail: Send comments to Docket
Operations, M–30, U.S. Department of
Transportation (DOT), 1200 New Jersey
SUMMARY:
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Agencies
[Federal Register Volume 87, Number 226 (Friday, November 25, 2022)]
[Rules and Regulations]
[Pages 72364-72365]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-25751]
=======================================================================
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BUREAU OF CONSUMER FINANCIAL PROTECTION
12 CFR Part 1022
Fair Credit Reporting Act Disclosures
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Final rule; official interpretation.
-----------------------------------------------------------------------
SUMMARY: The Consumer Financial Protection Bureau (Bureau) is issuing
this final rule amending an appendix for Regulation V, which implements
the Fair Credit Reporting Act (FCRA). The Bureau is required to
calculate annually the dollar amount of the maximum allowable charge
for disclosures by a consumer reporting agency to a consumer pursuant
to FCRA section 609; this final rule establishes the maximum allowable
charge for the 2023 calendar year.
DATES: This final rule is effective January 1, 2023.
FOR FURTHER INFORMATION CONTACT: Adrien Fernandez, Counsel, Thomas
Dowell, Senior Counsel; Office of Regulations, at (202) 435-7700. If
you require this document in an alternative electronic format, please
contact [email protected].
SUPPLEMENTARY INFORMATION: The Bureau is amending Appendix O to
Regulation V, which implements the FCRA, to establish the maximum
allowable charge for disclosures by a consumer reporting agency to a
consumer for 2023. The maximum allowable charge will be $14.50 for
2023.
I. Background
Under section 609 of the FCRA, a consumer reporting agency must,
upon a consumer's request, disclose to the consumer information in the
consumer's file.\1\ Section 612(a) of the FCRA gives consumers the
right to a free file disclosure upon request once every 12 months from
the nationwide consumer reporting agencies and nationwide specialty
consumer reporting agencies.\2\ Section 612 of the FCRA also gives
consumers the right to a free file disclosure under certain other,
specified circumstances.\3\ Where the consumer is not entitled to a
free file disclosure, section 612(f)(1)(A) of the FCRA provides that a
consumer reporting agency may impose a reasonable charge on a consumer
for making a file disclosure. Section 612(f)(1)(A) of the FCRA provides
that the charge for such a disclosure shall not exceed $8.00 and shall
be indicated to the consumer before making the file disclosure.\4\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 1681g.
\2\ 15 U.S.C. 1681j(a).
\3\ 15 U.S.C. 1681j(b)-(d). The maximum allowable charge
announced by the Bureau does not apply to requests made under
section 612(a)-(d) of the FCRA. The charge does apply when a
consumer who orders a file disclosure has already received a free
annual file disclosure and does not otherwise qualify for an
additional free file disclosure.
\4\ 15 U.S.C. 1681j(f)(1)(A).
---------------------------------------------------------------------------
Section 612(f)(2) of the FCRA also states that the $8.00 maximum
amount shall increase on January 1 of each year, based proportionally
on changes in the Consumer Price Index, with fractional changes rounded
to the nearest fifty cents.\5\ Such increases are based on the Consumer
Price Index for All Urban Consumers (CPI-U), which is the most general
Consumer Price Index and covers all urban consumers and all items.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 1681j(f)(2).
---------------------------------------------------------------------------
II. Adjustment
For 2023, the ceiling on allowable charges under section 612(f) of
the FCRA will be $14.50, an increase of one dollar from 2022. The
Bureau is using the $8.00 amount set forth in section 612(f)(1)(A)(i)
of the FCRA as the baseline for its calculation of the increase in the
ceiling on reasonable charges for certain disclosures made under
section 609 of the FCRA. Since the effective date of section 612(a) was
September 30, 1997, the Bureau calculated the proportional increase in
the CPI-U from September 1997 to September 2022. The Bureau then
determined what modification, if any, from the original base of $8.00
should be made effective for 2023, given the requirement that
fractional changes be rounded to the nearest fifty cents.
Between September 1997 and September 2022, the CPI-U increased by
84.124 percent from an index value of 161.2 in September 1997 to a
value of 296.808 in September 2022. An increase of 84.124 percent in
the $8.00 base figure would lead to a figure of $14.73. However,
because the statute directs that the resulting figure be rounded to the
nearest $0.50, the maximum allowable charge is $14.50. The Bureau
therefore determines that the maximum
[[Page 72365]]
allowable charge for the year 2023 will increase to $14.50.
III. Procedural Requirements
A. Administrative Procedure Act
Under the Administrative Procedure Act (APA), notice and
opportunity for public comment are not required if the Bureau finds
that notice and public comment are impracticable, unnecessary, or
contrary to the public interest.\6\ Pursuant to this final rule, in
Regulation V, Appendix O is amended to update the maximum allowable
charge for 2023 under section 612(f). The amendments in this final rule
are technical and non-discretionary, as they merely apply the method
previously established in Regulation V for determining adjustments to
the thresholds. For these reasons, the Bureau has determined that
publishing a notice of proposed rulemaking and providing opportunity
for public comment are unnecessary. The amendments therefore are
adopted in final form.
---------------------------------------------------------------------------
\6\ 5 U.S.C. 553(b)(B).
---------------------------------------------------------------------------
B. Regulatory Flexibility Act
The Regulatory Flexibility Act (RFA) does not apply to a rulemaking
where a general notice of proposed rulemaking is not required.\7\ As
noted previously, the Bureau has determined that it is unnecessary to
publish a general notice of proposed rulemaking for this final rule.
Accordingly, the RFA's requirement relating to an initial and final
regulatory flexibility analysis do not apply.
---------------------------------------------------------------------------
\7\ 5 U.S.C. 603(a), 604(a).
---------------------------------------------------------------------------
C. Paperwork Reduction Act
The information collections contained in Regulation V, which
implements the FCRA, are approved by Office of Management and Budget
under Control number 3170-0002. The current approval for this control
number expires on November 30, 2023. In accordance with the Paperwork
Reduction Act of 1995,\8\ the Bureau reviewed this final rule. The
Bureau has determined that this rule does not create any new
information collections or substantially revise any existing
collections.
---------------------------------------------------------------------------
\8\ 44 U.S.C. 3506; 5 CFR part 1320.
---------------------------------------------------------------------------
D. Congressional Review Act
Pursuant to the Congressional Review Act (5 U.S.C. 801 et seq.),
the Bureau will submit a report containing this rule 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 the rule taking effect. The Office of Information and Regulatory
Affairs has designated this rule as not a ``major rule'' as defined by
5 U.S.C. 804(2).
IV. Signing Authority
Senior Advisor Brian Shearer, having reviewed and approved this
document, is delegating the authority to sign this document
electronically to Grace Feola, Bureau Federal Register Liaison, for
purposes of publication in the Federal Register.
List of Subjects in 12 CFR Part 1022
Banks, banking, Consumer protection, Credit unions, Holding
companies, National banks, Privacy, Reporting and recordkeeping
requirements, Savings associations.
Authority and Issuance
For the reasons set forth in the preamble, the Bureau amends
Regulation V, 12 CFR part 1022, as set forth below:
PART 1022--FAIR CREDIT REPORTING (REGULATION V)
0
1. The authority citation for part 1022 continues to read as follows:
Authority: 12 U.S.C. 5512, 5581; 15 U.S.C. 1681a, 1681b, 1681c,
1681c-1, 1681e, 1681g, 1681i, 1681j, 1681m, 1681s, 1681s-2, 1681s-3,
and 1681t; sec. 214, Public Law 108-159, 117 Stat. 1952.
0
2. Appendix O is revised to read as follows:
Appendix O to Part 1022--Reasonable Charges for Certain Disclosures
Section 612(f) of the FCRA, 15 U.S.C. 1681j(f), directs the
Bureau to increase the maximum allowable charge a consumer reporting
agency may impose for making a disclosure to the consumer pursuant
to section 609 of the FCRA, 15 U.S.C. 1681g, on January 1 of each
year, based proportionally on changes in the Consumer Price Index,
with fractional changes rounded to the nearest fifty cents. The
Bureau will publish notice of the maximum allowable charge each year
by amending this appendix. For calendar year 2023, the maximum
allowable charge is $14.50. For historical purposes:
1. For calendar year 2012, the maximum allowable disclosure
charge was $11.50.
2. For calendar year 2013, the maximum allowable disclosure
charge was $11.50.
3. For calendar year 2014, the maximum allowable disclosure
charge was $11.50.
4. For calendar year 2015, the maximum allowable disclosure
charge was $12.00.
5. For calendar year 2016, the maximum allowable disclosure
charge was $12.00.
6. For calendar year 2017, the maximum allowable disclosure
charge was $12.00.
7. For calendar year 2018, the maximum allowable disclosure
charge was $12.00.
8. For calendar year 2019, the maximum allowable disclosure
charge was $12.50.
9. For calendar year 2020, the maximum allowable disclosure
charge was $12.50.
10. For calendar year 2021, the maximum allowable disclosure
charge was $13.00.
11. For calendar year 2022, the maximum allowable disclosure
charge was $13.50.
12. For calendar year 2023, the maximum allowable disclosure
charge is $14.50.
Grace Feola,
Federal Register Liaison, Consumer Financial Protection Bureau.
[FR Doc. 2022-25751 Filed 11-23-22; 8:45 am]
BILLING CODE 4810-AM-P