Semiannual Regulatory Agenda, 66900-66901 [2024-16447]

Download as PDF 66900 Federal Register / Vol. 89, No. 159 / Friday, August 16, 2024 / UA: Reg Flex Agenda CONSUMER FINANCIAL PROTECTION BUREAU 12 CFR CH. X Semiannual Regulatory Agenda Consumer Financial Protection Bureau. ACTION: Semiannual Regulatory Agenda. AGENCY: The Consumer Financial Protection Bureau (CFPB) is publishing this agenda as part of the Spring 2024 Unified Agenda of Federal Regulatory and Deregulatory Actions. The CFPB reasonably anticipates having the regulatory matters identified below under consideration during the period from July 2024 to June 2025. The next agenda will be published in Fall 2024 and will update this agenda through Fall 2025. Publication of this agenda is in accordance with the Regulatory Flexibility Act (5 U.S.C. 601 et seq.). SUMMARY: This information is current as of May 15, 2024. ADDRESSES: Consumer Financial Protection Bureau, 1700 G Street NW, Washington, DC 20552. FOR FURTHER INFORMATION CONTACT: A staff contact is included for each regulatory item listed herein. If you require this document in an alternative electronic format, please contact CFPB_ Accessibility@cfpb.gov. SUPPLEMENTARY INFORMATION: The CFPB is publishing its Spring 2024 Agenda as part of the Spring 2024 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the Office of Management and Budget (OMB) under Executive Order 12866. The agenda lists the regulatory matters that the CFPB reasonably anticipates, as of May 15, 2024, that it will have under consideration during the period from July 1, 2024, to June 30, 2025, as DATES: described further below.1 The complete Unified Agenda is available to the public at the following website: https:// www.reginfo.gov. Consistent with procedures established by OMB’s Office of Information and Regulatory Affairs,2 the CFPB’s active agenda is divided into five sections: pre-rule stage; proposed rule stage; final rule stage; long-term actions, completed actions. Generally, the pre-rule through final rule stages sections list items the CFPB plans to issue within the next 12 months. The long-term actions are listed for informational purposes if a regulatory action is anticipated beyond that oneyear time frame. Completed actions are those that have been published as final or are withdrawn. Rohit Chopra, Director, Consumer Financial Protection Bureau. CONSUMER FINANCIAL PROTECTION BUREAU—PROPOSED RULE STAGE Regulation Identifier No. Sequence No. Title 249 .................... Fair Credit Reporting Act Rulemaking ............................................................................................................. 3170–AA54 CONSUMER FINANCIAL PROTECTION BUREAU—FINAL RULE STAGE Title 250 .................... 251 .................... Amendments to FIRREA Concerning Automated Valuation Models .............................................................. Required Rulemaking on Personal Financial Data Rights .............................................................................. 249. Fair Credit Reporting Act Rulemaking [3170–AA54] Legal Authority: 15 U.S.C. 1681, et seq. Abstract: Congress enacted the Fair Credit Reporting Act (FCRA) to ensure fair and accurate credit reporting, promote efficiency in the banking system, and protect consumer privacy. The law and its implementing regulations (Regulation V) impose legal duties on consumer reporting agencies, users of consumer reports, and furnishers of information to consumer reporting agencies. The consumer credit reporting industry has consistently been a major source of consumer complaints, and, since the FCRA’s enactment in 1970, advances in technology have led, particularly in recent years, to a rapid evolution of the consumer reporting marketplace, including the emergence of companies using business models that rely on newer technologies and novel methods to collect and sell consumer data. The CFPB is considering proposals to regulate many activities of such data brokers as covered under the FCRA and to address other issues that have arisen in the years since the FCRA’s enactment. In light of recent events and research, the CFPB is also considering whether medical debts are necessary and appropriate for consideration by creditors in underwriting decisions to protect legitimate operational, transactional, risk, consumer, and other needs, such that they should continue to be covered by a regulatory exemption allowing their consideration by creditors. The CFPB is further considering whether medical debts should be included in consumer reports provided to creditors. Timetable: 1 The listing does not include certain routine, frequent, or administrative matters. The CFPB is reporting information for this Unified Agenda in a manner consistent with past practice. CONSUMER FINANCIAL PROTECTION BUREAU (CFPB) Proposed Rule Stage lotter on DSK11XQN23PROD with PROPOSALS12 Regulation Identifier No. Sequence No. VerDate Sep<11>2014 22:16 Aug 15, 2024 Jkt 250001 PO 00000 Frm 00002 Fmt 4701 Sfmt 4702 Action NPRM .................. Date 3170–AA57 3170–AA78 FR Cite 07/00/24 Regulatory Flexibility Analysis Required: Yes. Agency Contact: Laura Stack, Office of Regulations, Consumer Financial Protection Bureau, Washington, DC 20552, Phone: 202 435–7700. RIN: 3170–AA54 CONSUMER FINANCIAL PROTECTION BUREAU (CFPB) Final Rule Stage 250. Amendments to FIRREA Concerning Automated Valuation Models [3170–AA57] Legal Authority: 12 U.S.C. 3354 Abstract: The CFPB is participating in an interagency rulemaking process with the Board of Governors of the Federal 2 See https://www.reginfo.gov/public/jsp/ eAgenda/UA_About.myjsp. E:\FR\FM\16AUP20.SGM 16AUP20 66901 Federal Register / Vol. 89, No. 159 / Friday, August 16, 2024 / UA: Reg Flex Agenda Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Federal Housing Finance Agency (collectively, the Agencies) to develop regulations to implement the amendments made by the Consumer Financial Protection Act (CFPA) to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) concerning automated valuation models. The FIRREA amendments require implementing regulations for quality control standards for automated valuation models (AVMs). The Agencies issued a proposed rule to implement the CFPA’s AVM amendments to FIRREA in June 2023. Timetable: Action Date lotter on DSK11XQN23PROD with PROPOSALS20 SBREFA Outline SBREFA Report .. NPRM .................. NPRM Comment Period End. Final Rule ............ VerDate Sep<11>2014 02/23/22 05/13/22 06/21/23 08/21/23 FR Cite 88 FR 40638 07/00/24 22:16 Aug 15, 2024 Jkt 250001 Regulatory Flexibility Analysis Required: Yes. Agency Contact: Pedro De Oliveira, Office of Regulations, Consumer Financial Protection Bureau, Washington, DC 20552, Phone: 202 435– 7700. RIN: 3170–AA57 251. Required Rulemaking on Personal Financial Data Rights [3170–AA78] Legal Authority: 12 U.S.C. 5533; 12 U.S.C. 5481 Abstract: Section 1033 of the Consumer Financial Protection Act (CFPA) provides that, subject to rules prescribed by the CFPB, a covered entity (for example, a bank) must make available to consumers, upon request, transaction data and other information concerning a consumer financial product or service that the consumer obtains from the covered entity. Section 1033 also states that the CFPB must prescribe by rule standards to promote the development and use of standardized formats for information made available to consumers. The CFPB PO 00000 Frm 00003 Fmt 4701 Sfmt 9990 released a Notice of Proposed Rulemaking in October 2023. Timetable: Action Request for Information. Principles Statement. ANPRM ............... ANPRM Comment Period End. SBREFA Outline SBREFA Report .. NPRM .................. NPRM Comment Period End. Final Rule ............ Date 11/22/16 FR Cite 81 FR 83806 10/18/17 11/06/20 02/04/21 10/27/22 03/30/23 10/31/23 12/29/23 85 FR 71003 88 FR 74796 10/00/24 Regulatory Flexibility Analysis Required: Yes. Agency Contact: Michael Scherzer, Office of Regulations, Consumer Financial Protection Bureau, Washington, DC 20552, Phone: 202 435– 7700. RIN: 3170–AA78 [FR Doc. 2024–16447 Filed 8–15–24; 8:45 am] BILLING CODE 4810–AM–P E:\FR\FM\16AUP20.SGM 16AUP20

Agencies

  • CONSUMER FINANCIAL PROTECTION BUREAU
[Federal Register Volume 89, Number 159 (Friday, August 16, 2024)]
[Unknown Section]
[Pages 66900-66901]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-16447]



[[Page 66899]]

Vol. 89

Friday,

No. 159

August 16, 2024

Part XX





Consumer Financial Protection Bureau





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





Semiannual Regulatory Agenda

Federal Register / Vol. 89 , No. 159 / Friday, August 16, 2024 / UA: 
Reg Flex Agenda

[[Page 66900]]


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

CONSUMER FINANCIAL PROTECTION BUREAU

12 CFR CH. X


Semiannual Regulatory Agenda

AGENCY: Consumer Financial Protection Bureau.

ACTION: Semiannual Regulatory Agenda.

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

SUMMARY: The Consumer Financial Protection Bureau (CFPB) is publishing 
this agenda as part of the Spring 2024 Unified Agenda of Federal 
Regulatory and Deregulatory Actions. The CFPB reasonably anticipates 
having the regulatory matters identified below under consideration 
during the period from July 2024 to June 2025. The next agenda will be 
published in Fall 2024 and will update this agenda through Fall 2025. 
Publication of this agenda is in accordance with the Regulatory 
Flexibility Act (5 U.S.C. 601 et seq.).

DATES: This information is current as of May 15, 2024.

ADDRESSES: Consumer Financial Protection Bureau, 1700 G Street NW, 
Washington, DC 20552.

FOR FURTHER INFORMATION CONTACT:  A staff contact is included for each 
regulatory item listed herein. If you require this document in an 
alternative electronic format, please contact 
[email protected].

SUPPLEMENTARY INFORMATION: The CFPB is publishing its Spring 2024 
Agenda as part of the Spring 2024 Unified Agenda of Federal Regulatory 
and Deregulatory Actions, which is coordinated by the Office of 
Management and Budget (OMB) under Executive Order 12866. The agenda 
lists the regulatory matters that the CFPB reasonably anticipates, as 
of May 15, 2024, that it will have under consideration during the 
period from July 1, 2024, to June 30, 2025, as described further 
below.\1\ The complete Unified Agenda is available to the public at the 
following website: https://www.reginfo.gov.
---------------------------------------------------------------------------

    \1\ The listing does not include certain routine, frequent, or 
administrative matters. The CFPB is reporting information for this 
Unified Agenda in a manner consistent with past practice.
---------------------------------------------------------------------------

    Consistent with procedures established by OMB's Office of 
Information and Regulatory Affairs,\2\ the CFPB's active agenda is 
divided into five sections: pre-rule stage; proposed rule stage; final 
rule stage; long-term actions, completed actions. Generally, the pre-
rule through final rule stages sections list items the CFPB plans to 
issue within the next 12 months. The long-term actions are listed for 
informational purposes if a regulatory action is anticipated beyond 
that one-year time frame. Completed actions are those that have been 
published as final or are withdrawn.
---------------------------------------------------------------------------

    \2\ See https://www.reginfo.gov/public/jsp/eAgenda/UA_About.myjsp.

Rohit Chopra,
Director, Consumer Financial Protection Bureau.

        Consumer Financial Protection Bureau--Proposed Rule Stage
------------------------------------------------------------------------
                                                           Regulation
       Sequence No.                    Title             Identifier No.
------------------------------------------------------------------------
249.......................  Fair Credit Reporting Act          3170-AA54
                             Rulemaking.
------------------------------------------------------------------------


         Consumer Financial Protection Bureau--Final Rule Stage
------------------------------------------------------------------------
                                                           Regulation
       Sequence No.                    Title             Identifier No.
------------------------------------------------------------------------
250.......................  Amendments to FIRREA               3170-AA57
                             Concerning Automated
                             Valuation Models.
251.......................  Required Rulemaking on             3170-AA78
                             Personal Financial Data
                             Rights.
------------------------------------------------------------------------

CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)

Proposed Rule Stage

249. Fair Credit Reporting Act Rulemaking [3170-AA54]

    Legal Authority: 15 U.S.C. 1681, et seq.
    Abstract: Congress enacted the Fair Credit Reporting Act (FCRA) to 
ensure fair and accurate credit reporting, promote efficiency in the 
banking system, and protect consumer privacy. The law and its 
implementing regulations (Regulation V) impose legal duties on consumer 
reporting agencies, users of consumer reports, and furnishers of 
information to consumer reporting agencies. The consumer credit 
reporting industry has consistently been a major source of consumer 
complaints, and, since the FCRA's enactment in 1970, advances in 
technology have led, particularly in recent years, to a rapid evolution 
of the consumer reporting marketplace, including the emergence of 
companies using business models that rely on newer technologies and 
novel methods to collect and sell consumer data. The CFPB is 
considering proposals to regulate many activities of such data brokers 
as covered under the FCRA and to address other issues that have arisen 
in the years since the FCRA's enactment. In light of recent events and 
research, the CFPB is also considering whether medical debts are 
necessary and appropriate for consideration by creditors in 
underwriting decisions to protect legitimate operational, 
transactional, risk, consumer, and other needs, such that they should 
continue to be covered by a regulatory exemption allowing their 
consideration by creditors. The CFPB is further considering whether 
medical debts should be included in consumer reports provided to 
creditors.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
NPRM................................   07/00/24
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Laura Stack, Office of Regulations, Consumer 
Financial Protection Bureau, Washington, DC 20552, Phone: 202 435-7700.
    RIN: 3170-AA54

CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)

Final Rule Stage

250. Amendments to FIRREA Concerning Automated Valuation Models [3170-
AA57]

    Legal Authority: 12 U.S.C. 3354
    Abstract: The CFPB is participating in an interagency rulemaking 
process with the Board of Governors of the Federal

[[Page 66901]]

Reserve System, the Office of the Comptroller of the Currency, the 
Federal Deposit Insurance Corporation, the National Credit Union 
Administration, and the Federal Housing Finance Agency (collectively, 
the Agencies) to develop regulations to implement the amendments made 
by the Consumer Financial Protection Act (CFPA) to the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) 
concerning automated valuation models. The FIRREA amendments require 
implementing regulations for quality control standards for automated 
valuation models (AVMs). The Agencies issued a proposed rule to 
implement the CFPA's AVM amendments to FIRREA in June 2023.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
SBREFA Outline......................   02/23/22
SBREFA Report.......................   05/13/22
NPRM................................   06/21/23  88 FR 40638
NPRM Comment Period End.............   08/21/23
Final Rule..........................   07/00/24
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Pedro De Oliveira, Office of Regulations, Consumer 
Financial Protection Bureau, Washington, DC 20552, Phone: 202 435-7700.
    RIN: 3170-AA57

251. Required Rulemaking on Personal Financial Data Rights [3170-AA78]

    Legal Authority: 12 U.S.C. 5533; 12 U.S.C. 5481
    Abstract: Section 1033 of the Consumer Financial Protection Act 
(CFPA) provides that, subject to rules prescribed by the CFPB, a 
covered entity (for example, a bank) must make available to consumers, 
upon request, transaction data and other information concerning a 
consumer financial product or service that the consumer obtains from 
the covered entity. Section 1033 also states that the CFPB must 
prescribe by rule standards to promote the development and use of 
standardized formats for information made available to consumers. The 
CFPB released a Notice of Proposed Rulemaking in October 2023.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
Request for Information.............   11/22/16  81 FR 83806
Principles Statement................   10/18/17
ANPRM...............................   11/06/20  85 FR 71003
ANPRM Comment Period End............   02/04/21
SBREFA Outline......................   10/27/22
SBREFA Report.......................   03/30/23
NPRM................................   10/31/23  88 FR 74796
NPRM Comment Period End.............   12/29/23
Final Rule..........................   10/00/24
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Michael Scherzer, Office of Regulations, Consumer 
Financial Protection Bureau, Washington, DC 20552, Phone: 202 435-7700.
    RIN: 3170-AA78

[FR Doc. 2024-16447 Filed 8-15-24; 8:45 am]
BILLING CODE 4810-AM-P
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