Bureau of Consumer Financial Protection 2015 – Federal Register Recent Federal Regulation Documents

2013 Integrated Mortgage Disclosures Rule Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z); Correction
Document Number: 2015-32463
Type: Rule
Date: 2015-12-24
Agency: Bureau of Consumer Financial Protection
The Consumer Financial Protection Bureau (Bureau) is making technical corrections to Regulation Z (Truth in Lending) and the Official Interpretations of Regulation Z. These corrections republish certain provisions of Regulation Z and the Official Interpretations that were inadvertently removed from or not incorporated into the Code of Federal Regulations by the ``Integrated Mortgage Disclosures Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z)'' final rule (TILA-RESPA Final Rule).
Truth in Lending Act (Regulation Z) Adjustment to Asset-Size Exemption Threshold
Document Number: 2015-32293
Type: Rule
Date: 2015-12-23
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 decrease to $2.052 billion from $2.060 billion. The adjustment is based on the 0.4 percent decrease in the average of the CPI-W for the 12-month period ending in November 2015. Therefore, creditors with assets of less than $2.052 billion (including assets of certain affiliates) as of December 31, 2015, are exempt, if other requirements of Regulation Z also are met, from establishing escrow accounts for higher-priced mortgage loans in 2016. This asset limit will also apply during a grace period, in certain circumstances, with respect to transactions with applications received before April 1 of 2017. The adjustment to the escrows exemption asset-size threshold will also decrease 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: 2015-32285
Type: Rule
Date: 2015-12-23
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). The exemption threshold will remain at $44 million. This amendment is based on the 0.4 percent decrease in the average of the CPI-W for the 12-month period ending in November 2015. Therefore, banks, savings associations, and credit unions with assets of $44 million or less as of December 31, 2015, are exempt from collecting data in 2016.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2015-31420
Type: Notice
Date: 2015-12-14
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Generic Information Collection Plan for Development and/or Testing of Model Forms, Disclosures, Tools, and Other Similar Related Materials.''
Agency Information Collection Activities: Comment Request
Document Number: 2015-31025
Type: Notice
Date: 2015-12-09
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection, titled, ``Loan Originator Compensation Amendment (Regulation Z).''
Agency Information Collection Activities: Comment Request
Document Number: 2015-30780
Type: Notice
Date: 2015-12-07
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Consumer Attitudes, Understanding, and Behaviors with Respect to Financial Services and Products.''
Appraisals for Higher-Priced Mortgage Loans Exemption Threshold
Document Number: 2015-30097
Type: Rule
Date: 2015-11-27
Agency: Federal Reserve System, Agencies and Commissions, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Bureau of Consumer Financial Protection
The OCC, the Board and the Bureau are publishing final rules amending the official interpretations for their regulations that implement section 129H of the Truth in Lending Act (TILA). Section 129H of TILA establishes special appraisal requirements for ``higher-risk mortgages,'' termed ``higher-priced mortgage loans'' or ``HPMLs'' in the agencies' regulations. The OCC, the Board, the Bureau, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA) and the Federal Housing Finance Agency (FHFA) (collectively, the Agencies) issued joint final rules implementing these requirements, effective January 18, 2014. The Agencies' rules exempted, among other loan types, transactions of $25,000 or less, and required that this loan amount be adjusted annually based on any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). If there is no annual percentage increase in the CPI-W, the OCC, the Board and the Bureau will not adjust this exemption threshold from the prior year. Based on the annual percentage decrease in the CPI-W as of June 1, 2015, the exemption threshold will remain at $25,500 through December 31, 2016.
Truth in Lending (Regulation Z)
Document Number: 2015-30091
Type: Rule
Date: 2015-11-27
Agency: Federal Reserve System, Agencies and Commissions, Bureau of Consumer Financial Protection
The Board and the Bureau are publishing final rules amending the official interpretations and commentary for the agencies' regulations that implement the Truth in Lending Act (TILA). The Dodd- Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended TILA by requiring that the dollar threshold for exempt consumer credit transactions be adjusted annually by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). If there is no annual percentage increase in the CPI-W, the Board and Bureau will not adjust this exemption threshold from the prior year. Based on the annual percentage decrease in the CPI-W as of June 1, 2015, the exemption threshold will remain at $54,600 through December 31, 2016. Because the Dodd-Frank Act also requires similar adjustments in the Consumer Leasing Act's threshold for exempt consumer leases, the Board and the Bureau are making similar amendments to each of their respective regulations implementing the Consumer Leasing Act elsewhere in this issue of the Federal Register.
Consumer Leasing (Regulation M)
Document Number: 2015-30071
Type: Rule
Date: 2015-11-27
Agency: Federal Reserve System, Agencies and Commissions, Bureau of Consumer Financial Protection
The Board and the Bureau are publishing final rules amending the official interpretations and commentary for the agencies' regulations that implement the Consumer Leasing Act (CLA). The Dodd- Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended the CLA by requiring that the dollar threshold for exempt consumer leases be adjusted annually by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). If there is no annual percentage increase in the CPI-W, the Board and Bureau will not adjust this exemption threshold from the prior year. Based on the annual percentage decrease in the CPI-W as of June 1, 2015, the exemption threshold will remain at $54,600 through December 31, 2016. Because the Dodd-Frank Act also requires similar adjustments in the Truth in Lending Act's threshold for exempt consumer credit transactions, the Board and the Bureau are making similar amendments to each of their respective regulations implementing the Truth in Lending Act elsewhere in this issue of the Federal Register.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2015-30042
Type: Notice
Date: 2015-11-25
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (CFPB) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``High-Cost Mortgage and Homeownership Counseling Amendments to the Truth in Lending Act (Regulation Z).''
Agency Information Collection Activities: Comment Request
Document Number: 2015-29910
Type: Notice
Date: 2015-11-25
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Equal Credit Opportunity Act (Regulation B) 12 CFR 1002.''
Agency Information Collection Activities: Comment Request
Document Number: 2015-29818
Type: Notice
Date: 2015-11-24
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to renew the Office of Management and Budget (OMB) titled, ``Report of Terms of Credit Card Plans (FR 2572)''.
Agency Information Collection Activities: Comment Request
Document Number: 2015-29816
Type: Notice
Date: 2015-11-24
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing a new information collection titled, ``Financial Well-Being National Survey.''
Agency Information Collection Activities: Comment Request
Document Number: 2015-29815
Type: Notice
Date: 2015-11-24
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Homeownership Counseling Amendments to the Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.''
Fair Credit Reporting Act Disclosures
Document Number: 2015-29664
Type: Notice
Date: 2015-11-20
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) announces that the ceiling on allowable charges under section 612(f) of the Fair Credit Reporting Act (FCRA) will remain unchanged at $12.00, effective for 2016. The Bureau is required to increase the $8.00 amount referred to in section 612(f)(1)(A)(i) of 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 47.61 percent between September 1997, when the FCRA amendments took effect, and September 2015. 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.
Home Mortgage Disclosure (Regulation C)
Document Number: C1-2015-26607
Type: Rule
Date: 2015-11-10
Agency: Bureau of Consumer Financial Protection
Agency Information Collection Activities: Comment Request
Document Number: 2015-28602
Type: Notice
Date: 2015-11-10
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection, and to revise an existing information collection, titled, ``Home Mortgage Disclosure (Regulation C) 12 CFR 1003.''
Agency Information Collection; Submission for OMB Review; Joint Comment Request; Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies
Document Number: 2015-28369
Type: Notice
Date: 2015-11-06
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Securities and Exchange Commission, Department of the Treasury, Bureau of Consumer Financial Protection
The OCC, FDIC, CFPB, and SEC (each, an Agency and collectively, the Agencies) have submitted to OMB a request for approval under the PRA of the collection of information discussed below. The Board (also an Agency and included in Agencies) reviewed the joint notice under the authority delegated to the Board by OMB. An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid OMB control number.
Joint Statement of Principles on Student Loan Servicing
Document Number: 2015-27775
Type: Notice
Date: 2015-11-02
Agency: Bureau of Consumer Financial Protection
On September 29, 2015, the Bureau of Consumer Financial Protection (Bureau) joined with the U.S. Department of the Treasury and the U.S. Department of Education to release a Joint Statement of Principles on Student Loan Servicing as a framework for policymakers and market participants looking to improve student loan servicing practices, promote borrower success, and mitigate defaults. This Policy Guidance sets forth those joint principles.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2015-27715
Type: Notice
Date: 2015-10-30
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing a new information collection for Office of Management and Budget (OMB) approval titled, ``Policy on No-Action Letters.''
Agency Information Collection Activities: Comment Request
Document Number: 2015-27576
Type: Notice
Date: 2015-10-29
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to renew the Office of Management and Budget's (OMB) approval for an existing information collection titled, ``Generic Information Collection Plan for Information on Compliance Costs and Other Effects of Regulations.''
Home Mortgage Disclosure (Regulation C)
Document Number: 2015-26607
Type: Rule
Date: 2015-10-28
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection is amending Regulation C to implement amendments to the Home Mortgage Disclosure Act made by section 1094 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Consistent with section 1094 of the Dodd-Frank Act, the Bureau is adding several new reporting requirements and clarifying several existing requirements. The Bureau is also modifying the institutional and transactional coverage of Regulation C. The final rule also provides extensive guidance regarding compliance with both the existing and new requirements.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2015-27079
Type: Notice
Date: 2015-10-23
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Generic Information Collection Plan for the Collection of Qualitative Feedback on Bureau Service Delivery.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2015-27078
Type: Notice
Date: 2015-10-23
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing a new information collection for Office of Management and Budget (OMB) approval titled, ``Owning a Home Evaluation Study.''
Consumer Advisory Board Meeting
Document Number: 2015-25539
Type: Notice
Date: 2015-10-07
Agency: Bureau of Consumer Financial Protection
This notice sets forth the announcement of a public meeting of the Consumer Advisory Board (CAB or Board) of the Consumer Financial Protection Bureau (Bureau). The notice also describes the functions of the Board. Notice of the meeting is permitted by section 9 of the CAB Charter and is intended to notify the public of this meeting. Specifically, Section 9(d) of the CAB Charter states: (1) Each meeting of the Board shall be open to public observation, to the extent that a facility is available to accommodate the public, unless the Bureau, in accordance with paragraph (4) of this section, determines that the meeting shall be closed. The Bureau also will make reasonable efforts to make the meetings available to the public through live Web streaming. (2) Notice of the time, place and purpose of each meeting, as well as a summary of the proposed agenda, shall be published in the Federal Register not more than 45 or less than 15 days prior to the scheduled meeting date. Shorter notice may be given when the Bureau determines that the Board's business so requires; in such event, the public will be given notice at the earliest practicable time. (3) Minutes of meetings, records, reports, studies, and agenda of the Board shall be posted on the Bureau's Web site (www.consumerfinance.gov). (4) The Bureau may close to the public a portion of any meeting, for confidential discussion. If the Bureau closes a meeting or any portion of a meeting, the Bureau will issue, at least annually, a summary of the Board's activities during such closed meetings or portions of meetings.
Amendments Relating to Small Creditors and Rural or Underserved Areas Under the Truth in Lending Act (Regulation Z)
Document Number: 2015-24362
Type: Rule
Date: 2015-10-02
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is amending certain mortgage rules issued by the Bureau in 2013. This final rule revises the Bureau's regulatory definitions of small creditor, and rural and underserved areas, for purposes of certain special provisions and exemptions from various requirements provided to certain small creditors under the Bureau's mortgage rules.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2015-24340
Type: Notice
Date: 2015-09-29
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing a new information collection titled, ``Consumer Response Government and Congressional Boarding Forms.''
Agency Information Collection Activities: Comment Request
Document Number: 2015-24341
Type: Notice
Date: 2015-09-25
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for renewal of an existing information collection titled, ``Generic Information Collection Plan for the Development and/or Testing of Model Forms, Disclosures, Tools, and Other Similar Related Materials.''
Notice of Availability of Translated Consumer Information Booklet
Document Number: 2015-24031
Type: Notice
Date: 2015-09-22
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) announces the availability of a Spanish-language translation of a consumer publication, the Home Buying Information Booklet, also known as the Special Information Booklet or the Settlement Cost Booklet, required under the Real Estate Settlement Procedures Act (RESPA), Regulation X, and Regulation Z. The title of this publication is Su conjunto de herramientas para pr[eacute]stamos hipotecarios: Gu[iacute]a paso a paso (English title: Your home loan toolkit: a step-by-step guide).
Credit Union Advisory Council Meeting
Document Number: 2015-23600
Type: Notice
Date: 2015-09-21
Agency: Bureau of Consumer Financial Protection
This notice sets forth the announcement of a public meeting of the Credit Union Advisory Council (CUAC or Council) of the Consumer Financial Protection Bureau (Bureau). The notice also describes the functions of the Council. Notice of the meeting is permitted by Section 9 of the CUAC Charter and is intended to notify the public of this meeting. Specifically, Section 9(d) of the CUAC Charter states: (1) Each meeting of the Council shall be open to public observation, to the extent that a facility is available to accommodate the public, unless the Bureau, in accordance with paragraph (4) of this section, determines that the meeting shall be closed. The Bureau also will make reasonable efforts to make the meetings available to the public through live recording. (2) Notice of the time, place and purpose of each meeting, as well as a summary of the proposed agenda, shall be published in the Federal Register not more than 45 or less than 15 days prior to the scheduled meeting date. Shorter notice may be given when the Bureau determines that the Council's business so requires; in such event, the public will be given notice at the earliest practicable time. (3) Minutes of meetings, records, reports, studies, and agenda of the Council shall be posted on the Bureau's Web site (www.consumerfinance.gov). (4) The Bureau may close to the public a portion of any meeting, for confidential discussion. If the Bureau closes a meeting or any portion of a meeting, the Bureau will issue, at least annually, a summary of the Council's activities during such closed meetings or portions of meetings.
Truth in Lending (Regulation Z) Annual Threshold Adjustments (CARD ACT, HOEPA and ATR/QM)
Document Number: 2015-22987
Type: Rule
Date: 2015-09-21
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule amending the regulatory text and official interpretations for Regulation Z, which implements the Truth in Lending Act (TILA). The Bureau is required to calculate annually the dollar amounts for several provisions in Regulation Z; this final rule reviews the dollar amounts for provisions implementing amendments to TILA under the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act), the Home Ownership and Equity Protection Act of 1994 (HOEPA), and the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). These amounts are adjusted, where appropriate, based on the annual percentage change reflected in the Consumer Price Index in effect on June 1, 2015. The minimum interest charge disclosure thresholds will remain unchanged in 2016.
Community Bank Advisory Council Meeting
Document Number: 2015-23281
Type: Notice
Date: 2015-09-16
Agency: Bureau of Consumer Financial Protection
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). The notice also describes the functions of the Council. Notice of the meeting is permitted by Section 9 of the CBAC Charter and is intended to notify the public of this meeting. Specifically, Section 9(d) of the CBAC Charter states: (1) Each meeting of the Council shall be open to public observation, to the extent that a facility is available to accommodate the public, unless the Bureau, in accordance with paragraph (4) of this section, determines that the meeting shall be closed. The Bureau also will make reasonable efforts to make the meetings available to the public through live recording. (2) Notice of the time, place and purpose of each meeting, as well as a summary of the proposed agenda, shall be published in the Federal Register not more than 45 or less than 15 days prior to the scheduled meeting date. Shorter notice may be given when the Bureau determines that the Council's business so requires; in such event, the public will be given notice at the earliest practicable time. (3) Minutes of meetings, records, reports, studies, and agenda of the Council shall be posted on the Bureau's Web site (www.consumerfinance.gov). (4) The Bureau may close to the public a portion of any meeting, for confidential discussion. If the Bureau closes a meeting or any portion of a meeting, the Bureau will issue, at least annually, a summary of the Council's activities during such closed meetings or portions of meetings.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2015-23070
Type: Notice
Date: 2015-09-14
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing a new information collection titled, ``Regulation F: Fair Debt Collection Practices Act, State Application for Exemption (12 CFR 1006.2)''.
Agency Information Collection Activities: Comment Request
Document Number: 2015-23068
Type: Notice
Date: 2015-09-14
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection, titled, ``High-Cost Mortgage and Homeownership Counseling Amendments to the Truth in Lending Act (Regulation Z).''
Request for Information Regarding the Consumer Complaint Database: Data Normalization
Document Number: 2015-16096
Type: Notice
Date: 2015-06-30
Agency: Bureau of Consumer Financial Protection
The Consumer Financial Protection Bureau (``Bureau'') established under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (``Dodd-Frank Act''), maintains the Consumer Complaint Database (``Database'') as a part of its efforts to provide consumers with timely and understandable information to help enable them to make responsible financial decisions and to enhance market efficiency and transparency. The purpose of this request for information is to solicit and collect input from the public on how data are presented in the Database. The Bureau is requesting feedback on best practices for ``normalizing'' the raw complaint data it makes available via the Database so they are easier for the public to use and understand. To normalize data is to transform ``raw'' data so that they may be compared in meaningful ways. This transformation increases the interoperability of ``raw'' datathat is, the extent to which different users can share and make use of the data because they have a common understanding of its meaning. Commenters offered various suggestions on how to approach normalization during the public comment period leading up to the establishment of the Database; the comments' variety highlighted differing and sometimes conflicting perspectives and concerns. In an effort to continue dialogue on easier ways to compare complaint handling performance, the Bureau requests specific suggestions from market participants, consumers, and other stakeholders on data normalization and its proper implementation within the Database.
Defining Larger Participants of the Automobile Financing Market and Defining Certain Automobile Leasing Activity as a Financial Product or Service
Document Number: 2015-14630
Type: Rule
Date: 2015-06-30
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau or CFPB) amends the regulation defining larger participants of certain consumer financial product and service markets by adding a new section to define larger participants of a market for automobile financing. The new section defines a market that includes: grants of credit for the purchase of an automobile; refinancings of such obligations (and subsequent refinancings thereof) that are secured by an automobile; automobile leases; and purchases or acquisitions of any of the foregoing obligations. The Bureau issues this rule pursuant to its authority, under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), to supervise certain nonbank covered persons for compliance with Federal consumer financial law and for other purposes. The Bureau has the authority to supervise nonbank covered persons of all sizes in the residential mortgage, private education lending, and payday lending markets. In addition, the Bureau has the authority to supervise nonbank ``larger participant[s]'' of markets for other consumer financial products or services, as the Bureau defines by rule. This final rule identifies a market for automobile financing and defines as larger participants of this market certain nonbank covered persons that will be subject to the Bureau's supervisory authority. It also defines certain automobile leases as a ``financial product or service'' under section 1002(15)(A)(xi)(II) of the Dodd-Frank Act. Finally, this final rule makes certain technical corrections to existing larger-participant rules.
2013 Integrated Mortgage Disclosures Rule Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z) and Amendments; Delay of Effective Date
Document Number: 2015-15836
Type: Proposed Rule
Date: 2015-06-26
Agency: Bureau of Consumer Financial Protection
The Consumer Financial Protection Bureau (Bureau) is proposing to delay the August 1, 2015, effective date of the Integrated Mortgage Disclosures Rule Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z) (TILA-RESPA Final Rule) and the related Amendments to the 2013 Integrated Mortgage Disclosures Rule Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth In Lending Act (Regulation Z) and the 2013 Loan Originator Rule Under the Truth in Lending Act (Regulation Z) (TILA-RESPA Amendments) to October 3, 2015. In light of certain procedural requirements under the Congressional Review Act (CRA), the TILA-RESPA Final Rule and the TILA-RESPA Amendments cannot take effect on August 1, 2015. Under the CRA, and unless the Bureau takes the action proposed in this document, the rule will take effect 60 days after the date on which Congress received the rule. The Bureau requests comment on a proposal to extend the effective date of both the TILA- RESPA Final Rule and the TILA-RESPA Amendments to October 3, 2015.
Agency Information Collection Activities: Comment Request
Document Number: 2015-15569
Type: Notice
Date: 2015-06-25
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting a new information collection titled, ``Consumer Response Government and Congressional Boarding Forms.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2015-15568
Type: Notice
Date: 2015-06-25
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing a new generic information collection plan titled, ``Generic Information Collection Plan to Conduct Cognitive Research and Pilot Testing.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2015-15564
Type: Notice
Date: 2015-06-25
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing a new generic information collection plan titled, ``Generic Information Collection Plan for Surveys Using the Consumer Credit Panel.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2015-15560
Type: Notice
Date: 2015-06-25
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing to renew the Office of Management and Budget (OMB) approval for an existing information collection, titled, ``Registration of Mortgage Loan Originators (Regulation G) 12 CFR 1007.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2015-15552
Type: Notice
Date: 2015-06-25
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing to renew the approval for an existing information collection titled, ``Interstate Land Sales Full Disclosure Act (Regulations J, K & L) 12 CFR 1010, 1011, 1012.''
Semiannual Regulatory Agenda
Document Number: 2015-14373
Type: Unknown
Date: 2015-06-18
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (CFPB or Bureau) is publishing this agenda as part of the Spring 2015 Unified Agenda of Federal Regulatory and Deregulatory Actions. The CFPB reasonably anticipates having the regulatory matters identified below under consideration during the period from May 1, 2015 to April 30, 2016. The next agenda will be published in fall 2015 and will update this agenda through fall 2016. Publication of this agenda is in accordance with the Regulatory Flexibility Act (5 U.S.C. 601 et seq.).
Publication of FY 2014 Service Contract Inventory
Document Number: 2015-14805
Type: Notice
Date: 2015-06-16
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 2014 service contract inventory. This inventory provides information on service contract actions over $25,000, which the Bureau funded during FY 2014. 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: http:// www.whitehouse.gov/sites/default/files/omb/procurement/memo/s ervice- contract-inventories-guidance-11052010.pdf and http:// www.whitehouse.gov/sites/default/files/omb/procurement/memo/s ervice- contract-inventory-guidance.pdf. The Bureau has posted its inventory, inventory supplement, and a summary of the inventory on the Bureau's Open Government homepage at the following link: http:// www.consumerfinance.gov/open.
Agency Information Collection Activities: Comment Request
Document Number: 2015-14635
Type: Notice
Date: 2015-06-15
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting new OMB control number information for a collection of information, titled, ``Regulation F: Fair Debt Collection Practices Act.''
Agency Information Collection Activities: Comment Request
Document Number: 2015-14634
Type: Notice
Date: 2015-06-15
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to renew the approval for an existing information collection titled, ``Generic Information Collection Plan for the Collection of Qualitative Feedback on Bureau Service Delivery.''
Final Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies
Document Number: 2015-14126
Type: Notice
Date: 2015-06-10
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, National Credit Union Administration, Securities and Exchange Commission, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Bureau of Consumer Financial Protection, Board of Governors of the Federal Reserve System
The OCC, Board, FDIC, NCUA, CFPB, and SEC are issuing a final interagency policy statement establishing joint standards for assessing the diversity policies and practices of the entities they regulate, as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
Minimum Requirements for Appraisal Management Companies
Document Number: 2015-12719
Type: Rule
Date: 2015-06-09
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency, Bureau of Consumer Financial Protection
The OCC, Board, FDIC, NCUA, Bureau, and FHFA (collectively, the Agencies) are adopting a final rule to implement the minimum requirements in the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) to be applied by participating States in the registration and supervision of appraisal management companies (AMCs). The final rule also implements the minimum requirements in the Dodd-Frank Act for AMCs that are subsidiaries owned and controlled by an insured depository institution and regulated by a Federal financial institutions regulatory agency (Federally regulated AMCs). Under the final rule, these Federally regulated AMCs do not need to register with a State, but are subject to the same minimum requirements as State-regulated AMCs. The final rule also implements the requirement for States to report to the Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC) the information required by the ASC to administer the new national registry of AMCs (AMC National Registry). In conjunction with this implementation, the FDIC is integrating its appraisal regulations for State nonmember banks and State savings associations.
Consumer Advisory Board Meeting
Document Number: 2015-13981
Type: Notice
Date: 2015-06-08
Agency: Bureau of Consumer Financial Protection
This notice sets forth the announcement of a public meeting of the Consumer Advisory Board (CAB or Board) of the Consumer Financial Protection Bureau (Bureau). The notice also describes the functions of the Board. Notice of the meeting is permitted by section 6 of the CAB Charter and is intended to notify the public of this meeting. Specifically, section X of the CAB Charter states:
Request for Information Regarding Student Loan Servicing
Document Number: 2015-12276
Type: Notice
Date: 2015-05-21
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau or CFPB) is seeking comments from the public related to the market for student loan servicing. The submissions to this request for information will serve to assist market participants and policymakers on potential options to improve borrower service, reduce defaults, develop best practices, assess consumer protections, and spur innovation.