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

Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2016-13837
Type: Notice
Date: 2016-06-13
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, ``Regulation I: Disclosure Requirements for Depository Institutions Lacking Federal Deposit Insurance (12 CFR 1009).''
Consumer Advisory Board Meeting
Document Number: 2016-12344
Type: Notice
Date: 2016-05-25
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 Bureau of Consumer Financial Protection (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:
Arbitration Agreements
Document Number: 2016-10961
Type: Proposed Rule
Date: 2016-05-24
Agency: Bureau of Consumer Financial Protection
Pursuant to section 1028(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. 111-203), the Bureau of Consumer Financial Protection (Bureau) is proposing to establish 12 CFR part 1040, which would contain regulations governing two aspects of consumer finance dispute resolution. First, the proposed rule would prohibit covered providers of certain consumer financial products and services from using an agreement with a consumer that provides for arbitration of any future dispute between the parties to bar the consumer from filing or participating in a class action with respect to the covered consumer financial product or service. Second, the proposal would require a covered provider that is involved in an arbitration pursuant to a pre-dispute arbitration agreement to submit specified arbitral records to the Bureau. The Bureau proposes that the rulemaking would apply to certain consumer financial products and services. The Bureau is also proposing to adopt official interpretations to the proposed regulation.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2016-12082
Type: Notice
Date: 2016-05-23
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Policy to Encourage Trial Disclosure Programs; Information Collection.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2016-12081
Type: Notice
Date: 2016-05-23
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Equal Access to Justice Act.''
Academic Research Council Meeting
Document Number: 2016-11614
Type: Notice
Date: 2016-05-17
Agency: Bureau of Consumer Financial Protection
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. Notice of the meeting is permitted by section 8 of the ARC Charter. Specifically, section 8(d) of the ARC Charter states:
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2016-11425
Type: Notice
Date: 2016-05-16
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, ``Application Process for Designation of Rural Area under Federal Consumer Financial Law.''
Agency Information Collection Activities: Comment Request
Document Number: 2016-11424
Type: Notice
Date: 2016-05-16
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, ``Evaluation of Financial Empowerment Training Program.''
Supervisory Highlights: Winter 2016
Document Number: 2016-11423
Type: Notice
Date: 2016-05-16
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (CFPB) is issuing its tenth edition of its Supervisory Highlights. In this issue, the CFPB shares findings from recent examinations in the areas of student loan servicing, remittances, mortgage origination, debt collection, and consumer reporting. This issue also shares important updates to past fair lending settlements reached by the CFPB. As in past editions, this report includes information about recent public enforcement actions that resulted, at least in part, from our supervisory work. Finally, the report recaps recent developments to the CFPB's supervision program, such as the release of updated fair lending examination procedures and guidance documents in the areas of credit reporting, in- person debt collection, and preauthorized electronic fund transfers.
Fair Lending Report of the Consumer Financial Protection Bureau, April 2016
Document Number: 2016-11138
Type: Notice
Date: 2016-05-12
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (CFPB or Bureau) is issuing its fourth Fair Lending Report of the Consumer Financial Protection Bureau (Fair Lending Report) to Congress. We are committed to ensuring fair access to credit and eliminating discriminatory lending practices. This report describes our fair lending activities in prioritization, supervision, enforcement, rulemaking, research, interagency coordination, and outreach for calendar year 2015.
Amendments to Filing Requirements Under the Interstate Land Sales Full Disclosure Act (Regulations J and L)
Document Number: 2016-10715
Type: Rule
Date: 2016-05-11
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is amending Regulations J and L to permit the electronic submission of filings under the Interstate Land Sales Full Disclosure Act. The Bureau is also making non-substantive corrections to regulatory and statutory citations and other technical changes.
Privacy Act of 1974, as Amended
Document Number: 2016-10501
Type: Notice
Date: 2016-05-05
Agency: Bureau of Consumer Financial Protection
In accordance with the Privacy Act of 1974, as amended, the Bureau of Consumer Financial Protection, hereinto referred to as the Consumer Financial Protection Bureau (CFPB or Bureau), gives notice of the establishment of a revised Privacy Act System of Records.
Request for Information Regarding Student Loan Borrower Communications
Document Number: 2016-10327
Type: Notice
Date: 2016-05-03
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau or CFPB) is seeking comments from the public related to consumer decision-making when repaying student loans, including the presentation of information about alternative repayment options. The submissions to this request for information will assist policymakers and market participants when considering potential options to enhance, supplement, or revise written communications made to student loan borrowers by student loan servicers, related to repayment options. The Bureau is seeking public comments about how these communications could reduce defaults, improve borrower outcomes, and spur innovation.
Finalization of Interim Final Rules (Subject to Any Intervening Amendments) Under Consumer Financial Protection Laws
Document Number: 2016-09431
Type: Rule
Date: 2016-04-28
Agency: Bureau of Consumer Financial Protection
Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) transferred rulemaking authority for a number of consumer financial protection laws from seven Federal agencies to the Bureau of Consumer Financial Protection (Bureau) as of July 21, 2011. In December 2011, the Bureau republished the existing regulations implementing those laws, as previously adopted by the seven predecessor agencies, as interim final rules (December 2011 IFRs) with technical and conforming changes to reflect the transfer of authority and certain other changes made by the Dodd-Frank Act. The December 2011 IFRs did not impose any new substantive obligations on persons subject to the existing regulations. This final rule adopts the December 2011 IFRs as final, subject to any intervening final rules published by the Bureau.
Amendments to the 2013 Mortgage Servicing Rules Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z)
Document Number: 2016-09695
Type: Proposed Rule
Date: 2016-04-26
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is reopening the comment period for a specific aspect of the proposed rule published by the Bureau in the Federal Register on December 15, 2014 (79 FR 74176). On December 15, 2014, the Bureau published for notice and comment proposed amendments to certain mortgage servicing provisions in Regulation X and Regulation Z. Among other things, the proposed rule: Addressed requiring servicers to provide modified periodic statements under Regulation Z to consumers who have filed for bankruptcy, subject to certain exceptions; included related proposed sample periodic statement forms; and indicated that the Bureau intended to conduct consumer testing of the proposed sample forms and would publish and seek comment on a report summarizing the methods and results of such testing prior to finalizing any sample forms. The original comment period to the proposed rule closed on March 16, 2015. The Bureau conducted consumer testing of sample periodic statement forms for consumers in bankruptcy after the close of the original comment period. The Bureau now reopens the comment period until May 26, 2016 to seek comment specifically on the report summarizing consumer testing of sample periodic statement forms for consumers in bankruptcy.
Agency Information Collection Activities: Comment Request
Document Number: 2016-09694
Type: Notice
Date: 2016-04-26
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 Advisory Boards, Groups and Committees.''
Submission of Credit Card Agreements Under the Truth in Lending Act (Regulation Z)
Document Number: 2016-07815
Type: Rule
Date: 2016-04-05
Agency: Bureau of Consumer Financial Protection
The Truth in Lending Act (TILA) and Regulation Z require credit card issuers to submit their currently-offered credit card agreements to the Bureau of Consumer Financial Protection (Bureau), to be posted on the Bureau's Web site. In April 2015, the Bureau suspended that submission obligation for a period of one year. That suspension has expired, and the next submission is due on the first business day on or after April 30, 2016 (i.e., May 2, 2016). Credit card issuers should visit the Bureau's Web site for instructions on submitting credit card agreements.
Community Bank Advisory Council Meeting
Document Number: 2016-07814
Type: Notice
Date: 2016-04-05
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:
Agency Information Collection Activities: Comment Request
Document Number: 2016-06959
Type: Notice
Date: 2016-03-28
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 the Office of Intergovernmental Affairs Outreach Activities.''
Operations in Rural Areas Under the Truth in Lending Act (Regulation Z); Interim Final Rule
Document Number: 2016-06834
Type: Rule
Date: 2016-03-25
Agency: Bureau of Consumer Financial Protection
This interim final rule amends certain provisions of Regulation Z in light of title LXXXIX of the Fixing America's Surface Transportation Act, entitled the Helping Expand Lending Practices in Rural Communities Act, Public Law 114-94. The amendments to Regulation Z concern two matters: The eligibility of certain small creditors that operate in rural or underserved areas for special provisions that permit the origination of balloon-payment qualified mortgages and balloon-payment high cost mortgages and for an exemption from the requirement to establish an escrow account for higher-priced mortgage loans and the determination of whether an area is rural for the purposes of Regulation Z.
Agency Information Collection Activities: Comment Request; Emergency Processing Request
Document Number: 2016-06469
Type: Notice
Date: 2016-03-23
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 titled, ``Regulation I: Disclosure Requirements for Depository Institutions Lacking Federal Deposit Insurance (12 CFR 1009).''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2016-05767
Type: Notice
Date: 2016-03-15
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: C1-2016-05179
Type: Notice
Date: 2016-03-11
Agency: Bureau of Consumer Financial Protection
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2016-05255
Type: Notice
Date: 2016-03-09
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, ``Consumer Attitudes, Understanding, and Behaviors with Respect to Financial Services and Products.''
Credit Union Advisory Council Meeting
Document Number: 2016-05253
Type: Notice
Date: 2016-03-09
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:
Agency Information Collection Activities: Comment Request
Document Number: 2016-05188
Type: Notice
Date: 2016-03-09
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, ``Equal Access to Justice Act.''
Agency Information Collection Activities: Comment Request
Document Number: 2016-05183
Type: Notice
Date: 2016-03-09
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, ``Policy to Encourage Trial Disclosure Programs; Information Collection.''
Agency Information Collection Activities: Comment Request
Document Number: 2016-05179
Type: Notice
Date: 2016-03-09
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, ``Generic Information Collection Plan for Qualitative Consumer Education and Engagement Information Collections.''
Application Process for Designation of Rural Area under Federal Consumer Financial Law; Procedural Rule
Document Number: 2016-04643
Type: Rule
Date: 2016-03-03
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is adopting a procedural rule establishing an application process under which a person may identify an area that has not been designated by the Bureau as a rural area for purposes of a Federal consumer financial law and apply for such area to be so designated. Currently the Bureau designates rural areas for purposes of certain Federal consumer financial laws relating to mortgage lending.
Policy on No-Action Letters; Information Collection
Document Number: 2016-02390
Type: Notice
Date: 2016-02-22
Agency: Bureau of Consumer Financial Protection
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).
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2016-03424
Type: Notice
Date: 2016-02-18
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; Emergency Processing Request
Document Number: 2016-03422
Type: Notice
Date: 2016-02-18
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, ``Application Process for Designation of Rural Area under Federal Consumer Financial Law.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2016-03246
Type: Notice
Date: 2016-02-17
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, ``Equal Credit Opportunity Act (Regulation B) 12 CFR 1002.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2016-03245
Type: Notice
Date: 2016-02-17
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, ``Report of Terms of Credit Card Plans (Form FR 2572).''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2016-03204
Type: Notice
Date: 2016-02-17
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, ``Homeownership Counseling Amendments to the Real Estate Settlement Procedures Act (Regulation X) 12 CFR 1024.''
Consumer Advisory Board Meeting
Document Number: 2016-02717
Type: Notice
Date: 2016-02-10
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:
2013 Integrated Mortgage Disclosures Rule Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z); Correction of Supplementary Information
Document Number: 2016-02630
Type: Rule
Date: 2016-02-10
Agency: Bureau of Consumer Financial Protection
In 2013, the Consumer Financial Protection Bureau (Bureau) issued 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).\1\ The Supplementary Information to the TILA-RESPA Final Rule contained a typographical error, which this document corrects, regarding the application of tolerances to property insurance premiums, property taxes, homeowner's association dues, condominium fees, and cooperative fees.
Compliance Bulletin-The FCRA's Requirement That Furnishers Establish and Implement Reasonable Written Policies and Procedures Regarding the Accuracy and Integrity of Information Furnished to All Consumer Reporting Agencies
Document Number: 2016-01987
Type: Notice
Date: 2016-02-04
Agency: Bureau of Consumer Financial Protection
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.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2016-01006
Type: Notice
Date: 2016-01-20
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 extend a collection currently approved by the Office of Management and Budget (OMB) titled ``Home Mortgage Disclosure Act (Regulation C) 12 CFR 1003.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2016-00850
Type: Notice
Date: 2016-01-19
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 Information on Compliance Costs and Other Effects of Regulations.''
Consumer Advisory Board and Councils Solicitation of Applications for Membership
Document Number: 2016-00548
Type: Notice
Date: 2016-01-15
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) Director Richard Cordray 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 August 2016.
Academic Research Council Solicitation of Applications for Membership
Document Number: 2016-00546
Type: Notice
Date: 2016-01-15
Agency: Bureau of Consumer Financial Protection
Section 1013(b)(1) of the Consumer Financial Protection Act, 12 U.S.C. 5493(b)(1), establishes the Consumer Financial Protection Bureau's (Bureau) Office of Research and assigns to it the responsibility of researching, analyzing, and reporting on topics relating to the Bureau's mission, including developments in markets for consumer financial products and services, consumer awareness, and consumer behavior. The Bureau established the Academic Research Council (Council) as a technical advisory body comprised of scholars to provide the Office of Research with guidance as it performs its responsibilities. Director Richard Cordray invites qualified individuals to apply for appointment to the Council. Appointments to the Council are typically for three years. However, the Director may amend the Council charter from time to time during the charter terms as the Director deems necessary to accomplish the purpose of the Council. There are three vacancies on the Academic Research Council. The Bureau expects to announce the selection of new members in April 2016.
Request for Information Regarding Home Mortgage Disclosure Act Resubmission Guidelines
Document Number: 2016-00442
Type: Notice
Date: 2016-01-12
Agency: Bureau of Consumer Financial Protection
The Consumer Financial Protection Bureau (Bureau) supervises and enforces compliance with the Home Mortgage Disclosure Act (HMDA) for certain financial institutions and maintains a resubmission schedule and guidelines (Resubmission Guidelines) describing when supervised institutions should correct and resubmit HMDA data. The Bureau is considering whether changes to its HMDA Resubmission Guidelines may be appropriate for HMDA data that will be submitted under recent amendments to Regulation C, which implements HMDA. The Bureau requests information from the public on what changes to the Bureau's Resubmission Guidelines may be needed.