Bureau of Consumer Financial Protection February 2016 – Federal Register Recent Federal Regulation Documents

The Bureau of Consumer Financial Protection (Bureau) is issuing a final policy statement on No-Action Letters (Policy), which is intended to further objectives under section 1021 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act).

In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing a new information collection titled, ``Application Process for Designation of Rural Area under Federal Consumer Financial Law.''

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, ``Report of Terms of Credit Card Plans (Form FR 2572).''

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:

This document highlights existing obligations under the Fair Credit Reporting Act (FCRA) for furnishers of consumer information to consumer reporting agencies (CRAs) to establish and implement reasonable written policies and procedures regarding the accuracy and integrity of information furnished to all CRAs. In recent reviews of the furnishing practices of financial institutions, the Consumer Financial Protection Bureau (CFPB or Bureau) found that some financial institutions are not compliant with their obligations with regard to furnishing to specialty CRAs, including the furnishing of deposit account information. An institution's relevant policies and procedures must encompass the institution's furnishing to all types of CRAs. The CFPB will continue to monitor furnishers' compliance with these obligations to ensure they meet their accuracy and integrity obligations for any information that they furnish.