Bureau of Consumer Financial Protection – Federal Register Recent Federal Regulation Documents

Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2018-15581
Type: Notice
Date: 2018-07-20
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is proposing to renew the Office of Management and Budget (OMB) approval for an existing information collection, titled, ``Consumer and College Credit Card Agreements.''
Privacy Act of 1974; System of Records
Document Number: 2018-14990
Type: Notice
Date: 2018-07-13
Agency: Bureau of Consumer Financial Protection
In accordance with the Privacy Act of 1974, as amended, the Bureau of Consumer Financial Protection (Bureau), gives notice of the establishment of a modified Privacy Act System of Records.
Agency Information Collection Activities: Comment Request; Correction
Document Number: 2018-12908
Type: Notice
Date: 2018-06-15
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection published a notice in the Federal Register on May 14, 2018 concerning a request for comments on the proposed revision of a currently approved collection of an Office of Management and Budget (OMB) control number. The information collection title in the notice was incorrect.
Semiannual Regulatory Agenda
Document Number: 2018-11229
Type: Proposed Rule
Date: 2018-06-11
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is publishing this agenda as part of the Spring 2018 Unified Agenda of Federal Regulatory and Deregulatory Actions. The Bureau reasonably anticipates having the regulatory matters identified below under consideration during the period from May 1, 2018, to April 30, 2019. The next agenda will be published in fall 2018 and will update this agenda through fall 2019. Publication of this agenda is in accordance with the Regulatory Flexibility Act (5 U.S.C. 601 et seq.).
Privacy Act of 1974; System of Records
Document Number: 2018-10809
Type: Notice
Date: 2018-05-21
Agency: Bureau of Consumer Financial Protection
In accordance with the Privacy Act of 1974, as amended, the Bureau of Consumer Financial Protection (Bureau or CFPB) gives notice of the establishment of a modified Privacy Act System of Records.
Privacy Act of 1974; System of Records
Document Number: 2018-10632
Type: Notice
Date: 2018-05-18
Agency: Bureau of Consumer Financial Protection
In accordance with the Privacy Act of 1974, as amended, the Bureau of Consumer Financial Protection (Bureau) provides notice that it is rescinding CFPB.024 Judicial and Administrative Filings Collection from its inventory of record systems. The System of Records Notice was intended to address a potential collection of publicly available personally identifiable information contained in formal judicial and administrative filings, or other formal actions that have reached final judgment, involving financial frauds against consumers. The collection would have been used in identifying repeat offenders and prosecuting cases based on these types of frauds, and access to the records would have been limited to State and Federal agencies for law enforcement purposes. The Bureau is rescinding this System of Records Notice because it never created this system and no information or documents were ever collected, thereby making the System of Records Notice unnecessary.
Privacy Act of 1974; System of Records
Document Number: 2018-10631
Type: Notice
Date: 2018-05-18
Agency: Bureau of Consumer Financial Protection
In accordance with the Privacy Act of 1974, as amended, the Bureau of Consumer Financial Protection (Bureau) provides notice that it is rescinding CFPB.012 Interstate Land Sales Registration Files from its inventory of record systems. The Interstate Land Sales Registration Program (ILS Program) was developed as required by Interstate Land Sales Full Disclosure Act of 1968. Originally, the Department of Housing and Urban Development (HUD) maintained the ILS Program; ownership of this program transferred from HUD to the Bureau as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The ILS Program maintains information submitted by developers of land or other individuals offering 25 or more lots for sale and using any means or instruments of interstate commerce (including the mails) in promoting or selling properties pursuant to the requirements of the Interstate Land Sales Full Disclosure Act, and in the administration and management of the Interstate Land Sales Registration Program. The Bureau is rescinding this System of Records Notice because the ILS Program collects no individual identifiers on which searches are conducted, thereby making a System of Records Notice unnecessary.
Agency Information Collection Activities: Comment Request
Document Number: 2018-10221
Type: Notice
Date: 2018-05-14
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Consumer Compliant Intake System Company Portal Boarding Form Information Collection System.''
Community Bank Advisory Council Meeting
Document Number: 2018-09735
Type: Notice
Date: 2018-05-09
Agency: Bureau of Consumer Financial Protection
Under the Federal Advisory Committee Act (FACA), this notice sets forth the announcement of a public meeting of the Community Bank Advisory Council (CBAC or Council) of the Bureau of Consumer Financial Protection (Bureau). The notice also describes the functions of the Council.
Federal Mortgage Disclosure Requirements Under the Truth in Lending Act (Regulation Z)
Document Number: 2018-09243
Type: Rule
Date: 2018-05-02
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is amending Federal mortgage disclosure requirements under the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) that are implemented in Regulation Z. The amendments relate to when a creditor may compare charges paid by or imposed on the consumer to amounts disclosed on a Closing Disclosure, instead of a Loan Estimate, to determine if an estimated closing cost was disclosed in good faith.
Credit Union Advisory Council Meeting
Document Number: 2018-09074
Type: Notice
Date: 2018-05-01
Agency: Bureau of Consumer Financial Protection
Under the Federal Advisory Committee Act (FACA), this notice sets forth the announcement of a public meeting of the Credit Union Advisory Council (CUAC or Council) of the Bureau of Consumer Financial Protection (Bureau). The notice also describes the functions of the Council.
Consumer Advisory Board Subcommittee Meetings
Document Number: 2018-09077
Type: Notice
Date: 2018-04-30
Agency: Bureau of Consumer Financial Protection
This notice sets forth the announcement of two public subcommittee meetings of the Consumer Advisory Board (CAB or Board) of the Bureau of Consumer Financial Protection (Bureau). The notice also describes the functions of the Board its subcommittees.
Academic Research Council Meeting
Document Number: 2018-08716
Type: Notice
Date: 2018-04-26
Agency: Bureau of Consumer Financial Protection
Under the Federal Advisory Committee Act (FACA), this notice sets forth the announcement of a public meeting of the Academic Research Council (ARC or Council) of the Consumer Financial Protection Bureau (Bureau). The notice also describes the functions of the Council. This notice is being published less than 15 days prior to the meeting date due to administrative delays.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2018-08422
Type: Notice
Date: 2018-04-23
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is proposing to renew the Office of Management and Budget (OMB) approval for an existing information collection, titled, ``State Official Notification Rule12 CFR 1082.''
Request for Information Regarding the Bureau's Consumer Complaint and Consumer Inquiry Handling Processes
Document Number: 2018-07943
Type: Notice
Date: 2018-04-17
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is seeking comments and information from interested parties to assist the Bureau in assessing its handling of consumer complaints and consumer inquiries and, consistent with law, considering whether changes to its processes would be appropriate.
Consumer Advisory Board Subcommittee Meetings
Document Number: 2018-07345
Type: Notice
Date: 2018-04-10
Agency: Bureau of Consumer Financial Protection
This notice sets forth the announcement of two public subcommittee meetings of the Consumer Advisory Board (CAB or Board) of the Bureau of Consumer Financial Protection (CFPB or Bureau). The notice also describes the functions of the Board its subcommittees.
Request for Information Regarding Bureau Financial Education Programs
Document Number: 2018-07222
Type: Notice
Date: 2018-04-09
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is seeking comments and information from interested parties to assist the Bureau in assessing the overall efficiency and effectiveness of its consumer financial education programs.
Request for Information Regarding Bureau Guidance and Implementation Support
Document Number: 2018-06674
Type: Notice
Date: 2018-04-02
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is seeking comments and information from interested parties to assist the Bureau in assessing the overall effectiveness and accessibility of its guidance materials and activities (including implementation support) to members of the general public, including regulated entities. The Bureau is also considering whether it would be appropriate to make changes, consistent with law, to the formats, processes, and delivery methods for providing such guidance.
Request for Information Regarding the Bureau's Inherited Regulations and Inherited Rulemaking Authorities
Document Number: 2018-06027
Type: Proposed Rule
Date: 2018-03-26
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is seeking comments and information from interested parties to assist the Bureau in considering whether, consistent with its statutory authority to prescribe rules pursuant to the Federal consumer financial laws, the Bureau should amend the regulations or exercise the rulemaking authorities that it inherited from certain other Federal agencies.
Request for Information Regarding Bureau Enforcement Processes
Document Number: 2018-05784
Type: Notice
Date: 2018-03-22
Agency: Bureau of Consumer Financial Protection
On February 12, 2018, the Bureau of Consumer Financial Protection (Bureau) published a Request for Information Regarding Bureau Enforcement Processes (RFI), which provided that comments must be received on or before April 13, 2018. On February 22, 2018, the Bureau received a letter from two industry trade associations requesting a 30-day comment period extension for this RFI and for two other Bureau Requests for Information. The additional time is requested in order to allow commenters to develop meaningful responses to the RFI and the other identified Requests for Information. The Bureau believes the extension will allow all stakeholders the opportunity to provide more robust responses. In response to this request, the Bureau has determined that a 30 day extension of the comment period is appropriate.
Request for Information Regarding Bureau Civil Investigative Demands and Associated Processes
Document Number: 2018-05783
Type: Notice
Date: 2018-03-22
Agency: Bureau of Consumer Financial Protection
On January 26, 2018, the Bureau of Consumer Financial Protection (Bureau) published a Request for Information Regarding Bureau Civil Investigative Demands and Associated Processes (RFI), which provided that comments must be received on or before March 27, 2018. On February 22, 2018, the Bureau received a letter from two industry trade associations requesting a 30-day comment period extension for this RFI and for two other Bureau Requests for Information. The additional time is requested in order to allow commenters to develop meaningful responses to the RFI and the other identified Requests for Information. The Bureau believes the extension will allow all stakeholders the opportunity to provide more robust responses. In response to this request, the Bureau has determined that a 30 day extension of the comment period is appropriate.
Request for Information Regarding Bureau Rules of Practice for Adjudication Proceedings
Document Number: 2018-05780
Type: Proposed Rule
Date: 2018-03-22
Agency: Bureau of Consumer Financial Protection
On February 5, 2018, the Bureau of Consumer Financial Protection (Bureau) published a Request for Information Regarding Bureau Rules of Practice for Adjudication Proceedings (RFI), which provided that comments must be received on or before April 6, 2018. On February 22, 2018, the Bureau received a letter from two industry trade associations requesting a 30-day comment period extension for this RFI and for two other Bureau Requests for Information. The additional time is requested in order to allow commenters to develop meaningful responses to the RFI and the other identified Requests for Information. The Bureau believes the extension will allow all stakeholders the opportunity to provide more robust responses. In response to this request, the Bureau has determined that a 30 day extension of the comment period is appropriate.
Request for Information Regarding the Bureau's Adopted Regulations and New Rulemaking Authorities
Document Number: 2018-05612
Type: Proposed Rule
Date: 2018-03-21
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is seeking comments and information from interested parties to assist the Bureau in considering whether, consistent with its statutory authority to prescribe rules pursuant to the Federal consumer financial laws, the Bureau should amend those rules it has promulgated since its creation or issue certain new rules.
Consumer Advisory Board and Councils Solicitation of Applications for Membership
Document Number: 2018-05421
Type: Notice
Date: 2018-03-16
Agency: Bureau of Consumer Financial Protection
Pursuant to the authorities given to the Director of the Consumer Financial Protection Bureau (Bureau) under the Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) Acting Director Mick Mulvaney invites the public to apply for membership for appointment to its Consumer Advisory Board (Board), Community Bank Advisory Council, and Credit Union Advisory Council (collectively, Advisory Councils). Membership of the Board and Councils includes representatives of consumers, communities, the financial services industry and academics. Appointments to the Board are typically for three years and appointments to the Councils are typically for two years. However, the Director may amend the respective Board and Council charters from time to time during the charter terms, as the Director deems necessary to accomplish the purpose of the Board and Councils. The Bureau expects to announce the selection of new members in September 2018.
Mortgage Servicing Rules Under the Truth in Lending Act (Regulation Z)
Document Number: 2018-04823
Type: Rule
Date: 2018-03-12
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule amending certain Regulation Z mortgage servicing rules issued in 2016 relating to the timing for servicers to transition to providing modified or unmodified periodic statements and coupon books in connection with a consumer's bankruptcy case.
Request for Information Regarding Bureau Rulemaking Processes
Document Number: 2018-04824
Type: Notice
Date: 2018-03-09
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is seeking comments and information from interested parties to assist the Bureau in assessing the overall efficiency and effectiveness of its rulemaking processes and, consistent with law, considering whether any changes to its rulemaking processes would be appropriate.
Request for Information Regarding Bureau Public Reporting Practices of Consumer Complaint Information
Document Number: 2018-04544
Type: Notice
Date: 2018-03-06
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is seeking comments and information from interested parties to assist the Bureau in assessing potential changes that can be implemented to the Bureau's public reporting practices of consumer complaint information, consistent with law, to consider whether any changes to the practices would be appropriate.
Community Bank Advisory Council Meeting
Document Number: 2018-04438
Type: Notice
Date: 2018-03-06
Agency: Bureau of Consumer Financial Protection
Under the Federal Advisory Committee Act (FACA), this notice sets forth the announcement of a public meeting of the Community Bank Advisory Council (CBAC or Council) of the Consumer Financial Protection Bureau (Bureau or CFPB). The notice also describes the functions of the Council.
Agency Information Collection Activities: Comment Request
Document Number: 2018-04081
Type: Notice
Date: 2018-02-28
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection, titled, ``Consumer and College Credit Card Agreements.''
Consumer Advisory Board Subcommittee Meetings
Document Number: 2018-03842
Type: Notice
Date: 2018-02-26
Agency: Bureau of Consumer Financial Protection
This notice sets forth the announcement of two public subcommittee meetings of the Consumer Advisory Board (CAB or Board) of the Bureau of Consumer Financial Protection (CFPB or Bureau). The notice also describes the functions of the Board its subcommittees.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2018-03791
Type: Notice
Date: 2018-02-26
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is proposing to renew with change the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Financial Coaching Program for Veterans and Low-income Consumers.''
Request for Information Regarding Bureau External Engagements
Document Number: 2018-03788
Type: Notice
Date: 2018-02-26
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) seeks comments and information from interested parties to assist the Bureau in assessing its public and non-public external engagements, including but not limited to field hearings, town halls, roundtables, and meetings of the Advisory Board and Councils.
Request for Information Regarding the Bureau's Supervision Program
Document Number: 2018-03358
Type: Notice
Date: 2018-02-20
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is seeking comments and information from interested parties to assist the Bureau in assessing the overall efficiency and effectiveness of its Supervision Program, and, consistent with the law, considering whether any changes to the program would be appropriate.
Rules Concerning Prepaid Accounts Under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z)
Document Number: 2018-01305
Type: Rule
Date: 2018-02-13
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is amending Regulation E, which implements the Electronic Fund Transfer Act, and Regulation Z, which implements the Truth in Lending Act, and the official interpretations to those regulations. This rulemaking relates to a final rule published in the Federal Register on November 22, 2016, as amended on April 25, 2017, regarding prepaid accounts under Regulations E and Z. The Bureau is finalizing modifications to several aspects of that rule, including with respect to error resolution and limitations on liability for prepaid accounts where the financial institution has not successfully completed its consumer identification and verification process; application of the rule's credit-related provisions to digital wallets that are capable of storing funds; certain other clarifications and minor adjustments; technical corrections; and an extension of the overall effective date to April 1, 2019.
Request for Information Regarding Bureau Enforcement Processes
Document Number: 2018-02710
Type: Notice
Date: 2018-02-12
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is seeking comments and information from interested parties to assist the Bureau in assessing the overall efficiency and effectiveness of its processes related to the enforcement of Federal consumer financial law, and, consistent with the law, considering whether any changes to these processes would be appropriate.
Request for Information Regarding Bureau Rules of Practice for Adjudication Proceedings
Document Number: 2018-02208
Type: Proposed Rule
Date: 2018-02-05
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is seeking comments and information from interested parties to assist the Bureau in considering whether and how to amend the Bureau's Rules of Practice for Adjudication Proceedings.
Request for Information Regarding Bureau Civil Investigative Demands and Associated Processes
Document Number: 2018-01435
Type: Notice
Date: 2018-01-26
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is seeking comments and information from interested parties to assist the Bureau in assessing potential changes that can be implemented to the Bureau's Civil Investigative Demand (CID) processes, consistent with law, to consider whether any changes to the processes would be appropriate.
Civil Penalty Inflation Adjustments
Document Number: 2018-00399
Type: Rule
Date: 2018-01-12
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is adjusting for inflation the maximum amount of each civil penalty within the Bureau's jurisdiction. These adjustments are required by the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Debt Collection Improvement Act of 1996 and further amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (Inflation Adjustment Act). The inflation adjustments mandated by the Inflation Adjustment Act serve to maintain the deterrent effect of civil penalties and to promote compliance with the law.
Semiannual Regulatory Agenda
Document Number: 2017-28241
Type: Unknown
Date: 2018-01-12
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (CFPB or Bureau) is publishing this agenda as part of the Fall 2017 Unified Agenda of Federal Regulatory and Deregulatory Actions. The CFPB reasonably anticipates having the regulatory matters identified below under consideration during the period from November 1, 2017 to October 31, 2018. The next agenda will be published in spring 2018 and will update this agenda through fall 2018. Publication of this agenda is in accordance with the Regulatory Flexibility Act (5 U.S.C. 601 et seq.).
Agency Information Collection Activities: Comment Request
Document Number: 2017-28204
Type: Notice
Date: 2017-12-29
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection, titled, ``Generic Information Collection Plan for Studies of Consumers using Controlled Trials in Field and Economic Laboratory Settings.''
Truth in Lending Act (Regulation Z) Adjustment to Asset-Size Exemption Threshold
Document Number: 2017-27897
Type: Rule
Date: 2017-12-27
Agency: Bureau of Consumer Financial Protection
The Bureau is amending the official commentary that interprets the requirements of the Bureau's Regulation Z (Truth in Lending) to reflect a change in the asset-size threshold for certain creditors to qualify for an exemption to the requirement to establish an escrow account for a higher-priced mortgage loan based on the annual percentage change in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the 12-month period ending in November. The exemption threshold is adjusted to increase to $2.112 billion from $2.069 billion. The adjustment is based on the 2.1 percent increase in the average of the CPI-W for the 12-month period ending in November 2017. Therefore, creditors with assets of less than $2.112 billion (including assets of certain affiliates) as of December 31, 2017, are exempt, if other requirements of Regulation Z also are met, from establishing escrow accounts for higher-priced mortgage loans in 2018. This asset limit will also apply during a grace period, in certain circumstances, with respect to transactions with applications received before April 1 of 2019. The adjustment to the escrows asset- size exemption threshold will also increase a similar threshold for small-creditor portfolio and balloon-payment qualified mortgages. Balloon-payment qualified mortgages that satisfy all applicable criteria, including being made by creditors that have (together with certain affiliates) total assets below the threshold, are also excepted from the prohibition on balloon payments for high-cost mortgages.
Home Mortgage Disclosure (Regulation C) Adjustment to Asset-Size Exemption Threshold
Document Number: 2017-27879
Type: Rule
Date: 2017-12-27
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing a final rule amending the official commentary that interprets the requirements of the Bureau's Regulation C (Home Mortgage Disclosure) to reflect the asset-size exemption threshold for banks, savings associations, and credit unions based on the annual percentage change in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Based on the 2.1 percent increase in the average of the CPI-W for the 12-month period ending in November 2017, the exemption threshold is adjusted to increase to $45 million from $44 million. Therefore, banks, savings associations, and credit unions with assets of $45 million or less as of December 31, 2017, are exempt from collecting data in 2018.
Agency Information Collection Activities: Comment Request
Document Number: 2017-27872
Type: Notice
Date: 2017-12-27
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection, titled, ``State Official Notification Rule.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2017-25717
Type: Notice
Date: 2017-11-28
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is proposing to renew with change the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Consumer Response Intake Form''.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2017-25716
Type: Notice
Date: 2017-11-28
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is proposing to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Generic Information Collection Plan for Consumer Complaint and Information Collection System (Testing and Feedback)''.
Final Redesigned Uniform Residential Loan Application Status Under Regulation B
Document Number: 2017-25434
Type: Notice
Date: 2017-11-24
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection is publishing a notice pursuant to section 706(e) of the Equal Credit Opportunity Act concerning the update of the redesigned Uniform Residential Loan Application to include an applicant language preference question.
Arbitration Agreements
Document Number: 2017-25324
Type: Rule
Date: 2017-11-22
Agency: Bureau of Consumer Financial Protection
Under the Congressional Review Act, Congress has passed and the president has signed a joint resolution disapproving a final rule published by the Bureau of Consumer Financial Protection (Bureau) on July 19, 2017, to regulate arbitration agreements in contracts for specified consumer financial products and services. Under the joint resolution and by operation of the Congressional Review Act, the arbitration agreements rule has no force or effect. The Bureau is hereby removing it from the Code of Federal Regulations (CFR).
Publication of FY 2016 Service Contract Inventory
Document Number: 2017-25026
Type: Notice
Date: 2017-11-20
Agency: Bureau of Consumer Financial Protection
In accordance with Section 734 of Division C of the Consolidated Appropriations Act of 2010, the Bureau of Consumer Financial Protection (Bureau) is publishing this notice to advise the public of the availability of the FY 2016 service contract inventory. This inventory provides information on service contract actions over $25,000, which the Bureau funded during FY 2016. The information is organized by function to show how contracted resources were used by the agency to support its mission. The inventory has been developed in accordance with the guidance issued on November 5, 2010 and December 19, 2011 by the Office of Management and Budget's Office of Federal Procurement Policy (OFPP). OFPP's guidance is available at: https:// obamawhitehouse.archives.gov/sites/default/files/omb/procurem ent/memo/ service-contract-inventories-guidance-11052010.pdf and https:// obamawhitehouse.archives.gov/sites/default/files/omb/procurem ent/memo/ service-contract-inventory-guidance.pdf. The Bureau has posted its inventory on the Bureau's Open Government homepage at the following link: http://www.consumerfinance.gov/open.
Payday, Vehicle Title, and Certain High-Cost Installment Loans
Document Number: 2017-21808
Type: Rule
Date: 2017-11-17
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau or CFPB) is issuing this final rule establishing regulations creating consumer protections for certain consumer credit products and the official interpretations to the rule. First, the rule identifies it as an unfair and abusive practice for a lender to make covered short-term or longer- term balloon-payment loans, including payday and vehicle title loans, without reasonably determining that consumers have the ability to repay the loans according to their terms. The rule exempts certain loans from the underwriting criteria prescribed in the rule if they have specific consumer protections. Second, for the same set of loans along with certain other high-cost longer-term loans, the rule identifies it as an unfair and abusive practice to make attempts to withdraw payment from consumers' accounts after two consecutive payment attempts have failed, unless the consumer provides a new and specific authorization to do so. Finally, the rule prescribes notices to consumers before attempting to withdraw payments from their account, as well as processes and criteria for registration of information systems, for requirements to furnish and obtain information from them, and for compliance programs and record retention. The rule prohibits evasions and operates as a floor leaving State and local jurisdictions to adopt further regulatory measures (whether a usury limit or other protections) as appropriate to protect consumers.
Fair Credit Reporting Act Disclosures
Document Number: 2017-24855
Type: Notice
Date: 2017-11-16
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) announces that the ceiling on allowable charges under the Fair Credit Reporting Act (FCRA) will remain unchanged at $12.00, effective for 2018. The Bureau is required to increase the $8.00 amount referred to in the FCRA on January 1 of each year, based proportionally on changes in the Consumer Price Index for All Urban Consumers (CPI-U), with fractional changes rounded to the nearest fifty cents. The CPI-U increased 53.11 percent between September 1997, when the FCRA amendments took effect, and September 2017. This increase in the CPI-U, and the requirement that any increase be rounded to the nearest fifty cents, result in a maximum allowable charge of $12.00.