Bureau of Consumer Financial Protection 2019 – Federal Register Recent Federal Regulation Documents

Semiannual Regulatory Agenda
Document Number: 2019-26636
Type: Proposed Rule
Date: 2019-12-26
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is publishing this agenda as part of the Fall 2019 Unified Agenda of Federal Regulatory and Deregulatory Actions. The Bureau reasonably anticipates having the regulatory matters identified below under consideration during the period from October 1, 2019, to September 30, 2020. The next agenda will be published in spring 2020 and will update this agenda through spring 2021. Publication of this agenda is in accordance with the Regulatory Flexibility Act (5 U.S.C. 601 et seq.).
Truth in Lending Act (Regulation Z) Adjustment To Asset-Size Exemption Threshold
Document Number: 2019-27523
Type: Rule
Date: 2019-12-23
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (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. This amendment is 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 1.6 percent increase in the average of the CPI-W for the 12-month period ending in November 2019, the exemption threshold is adjusted to $2.202 billion from $2.167 billion. Therefore, creditors with assets of less than $2.202 billion (including assets of certain affiliates) as of December 31, 2019, are exempt, if other requirements of Regulation Z also are met, from establishing escrow accounts for higher-priced mortgage loans in 2020.
Home Mortgage Disclosure (Regulation C) Adjustment to Asset-Size Exemption Threshold
Document Number: 2019-27522
Type: Rule
Date: 2019-12-20
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is 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 1.6 percent increase in the average of the CPI-W for the 12-month period ending in November 2019, the exemption threshold is adjusted to $47 million from $46 million. Therefore, banks, savings associations, and credit unions with assets of $47 million or less as of December 31, 2019, are exempt from collecting data in 2020.
Supervisory Highlights Consumer Reporting Special Edition, Issue 20 (Fall 2019)
Document Number: 2019-26669
Type: Notice
Date: 2019-12-11
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing its twentieth edition of its Supervisory Highlights. In this special issue of Supervisory Highlights, we report examination findings in the areas of consumer reporting and furnishing of information to consumer reporting companies, pursuant to the Fair Credit Reporting Act and Regulation V. The report does not impose any new or different legal requirements, and all violations described in the report are based only on those specific facts and circumstances noted during those examinations.
Agency Information Collection Activities: Notice of Office of Management and Budget Approval of Information Collection Requirements
Document Number: 2019-26366
Type: Notice
Date: 2019-12-06
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA) and the Code of Federal Regulations, the Consumer Financial Protection Bureau (Bureau) is announcing Office of Management and Budget (OMB) approval of revised information collection requirements contained in a final rule published in the Federal Register on October 29, 2019, regarding Regulation C, Home Mortgage Disclosure. See the SUPPLEMENTARY INFORMATION section below for additional information about this OMB approval.
Remittance Transfers Under the Electronic Fund Transfer Act (Regulation E)
Document Number: 2019-25944
Type: Proposed Rule
Date: 2019-12-06
Agency: Bureau of Consumer Financial Protection
The Electronic Fund Transfer Act (EFTA), as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), establishes certain protections for consumers sending international money transfers, or remittance transfers. The Bureau of Consumer Financial Protection's (Bureau) remittance rule in Regulation E (Remittance Rule or Rule) implements these protections. The Bureau is proposing changes to the Rule to mitigate the effects of the expiration of a statutory exception that allows insured institutions to disclose estimates instead of exact amounts to consumers. That exception expires on July 21, 2020. In addition, the Bureau is proposing to increase a safe harbor threshold in the Rule related to whether a person makes remittance transfers in the normal course of its business, which would have the effect of reducing compliance costs for entities that make a limited number of remittance transfers annually.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2019-26021
Type: Notice
Date: 2019-12-02
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 Surveys Using the Consumer Credit Panel.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2019-25994
Type: Notice
Date: 2019-12-02
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 reinstate the Office of Management and Budget (OMB) approval for the previously-approved information collection titled, ``Application for the Bureau's Advisory Committees.''
Truth in Lending (Regulation Z) Annual Threshold Adjustments (Credit Cards, HOEPA, and Qualified Mortgages)
Document Number: 2019-25812
Type: Rule
Date: 2019-11-29
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) published a final rule in the Federal Register on August 1, 2019 amending the regulation text and official interpretations for Regulation Z, which implements the Truth in Lending Act (TILA), to include annual calculations for dollar amounts for several provisions in Regulation Z. This document corrects an error in one of the amendments to the official interpretation for Regulation Z.
Fair Credit Reporting Act Disclosures
Document Number: 2019-25695
Type: Rule
Date: 2019-11-27
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule amending an appendix for Regulation V, which implements the Fair Credit Reporting Act (FCRA). The Bureau is required to calculate annually the dollar amount of the maximum allowable charge for disclosures by a consumer reporting agency to a consumer pursuant to FCRA Section 609; this final rule establishes the maximum allowable charge for the 2020 calendar year.
Request for Information Regarding the Integrated Mortgage Disclosures Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth In Lending Act (Regulation Z) Rule Assessment
Document Number: 2019-25260
Type: Proposed Rule
Date: 2019-11-22
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is conducting an assessment of the Integrated Mortgage Disclosures Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth In Lending Act (Regulation Z) Rule and certain amendments in accordance with section 1022(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The Bureau is requesting public comment on its plans for assessing this rule as well as certain recommendations and information that may be useful in conducting the planned assessment.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2019-25117
Type: Notice
Date: 2019-11-20
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Truth in Savings (Regulation DD) 12 CFR 1030.''
Truth in Lending (Regulation Z); Screening and Training Requirements for Mortgage Loan Originators With Temporary Authority
Document Number: 2019-24944
Type: Rule
Date: 2019-11-19
Agency: Bureau of Consumer Financial Protection
This interpretive rule construes the Bureau's Regulation Z, which implements the Truth in Lending Act (TILA). Generally, if a mortgage loan originator organization employs an individual loan originator who is not licensed and is not required to be licensed, Regulation Z requires the loan originator organization to perform specific screening of that individual before permitting the individual to act as a loan originator and to provide certain ongoing training. Regulation Z is ambiguous as to whether these requirements apply to loan originator organizations employing individual loan originators who have temporary authority to originate loans pursuant to the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 (EGRRCPA) amendments to the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act). These amendments take effect on November 24, 2019. This interpretive rule concludes that a loan originator organization is not required to comply with certain screening and training requirements under Regulation Z if the individual loan originator employee is authorized to act as a loan originator pursuant to the temporary authority described in the SAFE Act.
Agency Information Collection Activities: Comment Request
Document Number: 2019-24799
Type: Notice
Date: 2019-11-15
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, ``Application Forms for Financial Empowerment Training Programs.''
Appraisals for Higher-Priced Mortgage Loans Exemption Threshold
Document Number: 2019-21559
Type: Rule
Date: 2019-10-30
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 finalizing amendments to 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. However, in years following a year in which the exemption threshold was not adjusted, the threshold is calculated by applying the annual percentage increase in the CPI-W to the dollar amount that would have resulted, after rounding, if the decreases and any subsequent increases in the CPI-W had been taken into account. Based on the CPI-W in effect as of June 1, 2019, the exemption threshold will increase from $26,700 to $27,200, effective January 1, 2020.
Truth in Lending (Regulation Z)
Document Number: 2019-21557
Type: Rule
Date: 2019-10-30
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 the Bureau will not adjust this exemption threshold from the prior year. However, in years following a year in which the exemption threshold was not adjusted, the threshold is calculated by applying the annual percentage change in the CPI-W to the dollar amount that would have resulted, after rounding, if the decreases and any subsequent increases in the CPI-W had been taken into account. Based on the annual percentage increase in the CPI-W as of June 1, 2019, the exemption threshold will increase from $57,200 to $58,300 effective January 1, 2020. 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: 2019-21554
Type: Rule
Date: 2019-10-30
Agency: Federal Reserve System, Agencies and Commissions, Bureau of Consumer Financial Protection
The Board and the Bureau are finalizing amendments to 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 the Bureau will not adjust this exemption threshold from the prior year. However, in years following a year in which the exemption threshold was not adjusted, the threshold is calculated by applying the annual percentage change in the CPI-W to the dollar amount that would have resulted, after rounding, if the decreases and any subsequent increases in the CPI-W had been taken into account. Based on the annual percentage increase in the CPI-W as of June 1, 2019, the exemption threshold will increase from $57,200 to $58,300 effective January 1, 2020. 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.
Home Mortgage Disclosure (Regulation C)
Document Number: 2019-22561
Type: Rule
Date: 2019-10-29
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is amending Regulation C to adjust the threshold for reporting data about open-end lines of credit by extending to January 1, 2022, the current temporary threshold of 500 open-end lines of credit. The Bureau is also incorporating into Regulation C the interpretations and procedures from the interpretive and procedural rule that the Bureau issued on August 31, 2018, and implementing further the Economic Growth, Regulatory Relief, and Consumer Protection Act.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2019-22771
Type: Notice
Date: 2019-10-18
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 reinstate with change a previously approved collection, or a new or revised generic clearance titled, ``Generic Information Collection Plan for Information on Compliance Costs and Other Effects of Regulations.'' Also, in accordance with the PRA, the Bureau is requesting Office of Management and Budget (OMB) approval of the Generic Information Collection titled, ``Industry Survey for the TRID Assessment'' under this Generic Information Collection Plan.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2019-22770
Type: Notice
Date: 2019-10-18
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 changes the Office of Management and Budget (OMB) approval for an existing information collection, titled, ``Evaluation of Financial Empowerment Training Program.''
Academic Research Council Meeting
Document Number: 2019-21374
Type: Notice
Date: 2019-10-08
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 Bureau of Consumer Financial Protection (Bureau). The notice also describes the functions of the Council.
Credit Union Advisory Council Meeting
Document Number: 2019-21371
Type: Notice
Date: 2019-10-08
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.
Community Bank Advisory Council Meeting
Document Number: 2019-21369
Type: Notice
Date: 2019-10-08
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.
Correction to the Fair Lending Report of the Bureau of Consumer Financial Protection
Document Number: 2019-21225
Type: Notice
Date: 2019-10-01
Agency: Bureau of Consumer Financial Protection
On June 28, 2019, the Bureau of Consumer Financial Protection (Bureau) released its Fair Lending Annual Report to Congress, describing the Bureau's efforts to fulfill its fair lending mandate during calendar year 2018. Also, as part of the Bureau's annual reporting requirements, the report provided a summary of enforcement activity taken in 2018 by the other Federal Financial Institutions Examination Council (FFIEC) agencies assigned with administrative enforcement responsibilities under Equal Credit Opportunity Act (ECOA). On September 24, 2019, the Bureau revised the report to correct the omission of a 2018 referral by the Federal Deposit Insurance Corporation (FDIC) to the U.S. Department of Justice (DOJ) involving national origin discrimination in violation of ECOA.
Privacy Act of 1974; System of Records
Document Number: 2019-20724
Type: Notice
Date: 2019-10-01
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 Privacy Act System of Records. The new system will collect emergency contact information for current employees and contractors of the Bureau to be used in the event of an emergency.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2019-20368
Type: Notice
Date: 2019-09-20
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 reinstate without change a previously approved collection, titled ``Generic Information Collection Plan to Conduct Cognitive and Pilot Testing of Research Methods, Instruments, and Forms.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2019-20367
Type: Notice
Date: 2019-09-20
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 reinstate with change a previously approved collection, titled ``Generic Information Collection Plan for the Development and Testing of Disclosures and Related Materials.''
Supervisory Highlights, Issue 19 (Summer 2019)
Document Number: 2019-20215
Type: Notice
Date: 2019-09-19
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing its nineteenth edition of its Supervisory Highlights. In this issue of Supervisory Highlights, we report examination findings in the areas of automobile loan origination, credit card account management, debt collection, furnishing, and mortgage origination that were generally completed between December 2018 and March 2019 (unless otherwise stated). The report does not impose any new or different legal requirements, and all violations described in the report are based only on those specific facts and circumstances noted during those examinations.
Request for Information Regarding Tech Sprints
Document Number: 2019-20201
Type: Notice
Date: 2019-09-18
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) seeks comments and information to identify opportunities to utilize Tech Sprints as a means to encourage regulatory innovation and collaborate with stakeholders in developing viable solutions to regulatory compliance challenges.
Consumer Credit Card Market Report of the Bureau of Consumer Financial Protection, 2019
Document Number: 2019-19811
Type: Notice
Date: 2019-09-13
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection is issuing its fourth biennial Consumer Credit Card Market Report to Congress. The report reviews developments in this consumer market since the Bureau's most recent biennial report on the same subject in 2017.
Policy on No-Action Letters
Document Number: 2019-19763
Type: Rule
Date: 2019-09-13
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing its revised Policy on No-Action Letters (Policy), which is intended to carry out certain of the Bureau's authorities under Federal consumer financial law.
Policy on the Compliance Assistance Sandbox
Document Number: 2019-19762
Type: Rule
Date: 2019-09-13
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing its final Policy on the Compliance Assistance Sandbox (Policy), which is intended to carry out certain of the Bureau's authorities under Federal consumer financial law.
Policy To Encourage Trial Disclosure Programs
Document Number: 2019-19761
Type: Rule
Date: 2019-09-13
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau or CFPB) is creating the CFPB Disclosure Sandbox through issuance of its revised Policy to Encourage Trial Disclosure Programs (Policy), which is intended to carry out the Bureau's authority under section 1032(e) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act).
Agency Information Collection Activities: Comment Request
Document Number: 2019-19385
Type: Notice
Date: 2019-09-09
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, ``Truth in Savings (Regulation DD) 12 CFR 1030.''
Agency Information Collection Activities: Comment Request
Document Number: 2019-18933
Type: Notice
Date: 2019-09-03
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 Surveys Using the Consumer Credit Panel.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2019-18252
Type: Notice
Date: 2019-08-26
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Truth In Lending Act (Regulation Z) 12 CFR 1026.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2019-18251
Type: Notice
Date: 2019-08-26
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Generic Information Collection Plan for the Collection for Qualitative Consumer Education, Engagement and Experience Information Collections.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2019-18249
Type: Notice
Date: 2019-08-23
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, ``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: 2019-16919
Type: Notice
Date: 2019-08-06
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, ``Policy On No-Action Letters and Compliance Assistance Sandbox Policy.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2019-16659
Type: Notice
Date: 2019-08-05
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection published a document in the Federal Register of July 29, 2019, proposing to renew the Office of Management and Budget (OMB) approval for an existing information collection, titled ``Equal Access to Justice Act.'' The document contained an incorrect Docket Number.
Debt Collection Practices (Regulation F); Extension of Comment Period
Document Number: 2019-16476
Type: Proposed Rule
Date: 2019-08-02
Agency: Bureau of Consumer Financial Protection
On May 21, 2019, the Bureau of Consumer Financial Protection (Bureau) published in the Federal Register a Notice of Proposed Rulemaking (NPRM) requesting comment on the Bureau's proposed amendments to Regulation F which implements the Fair Debt Collection Practices Act (FDCPA). The proposed amendments would prescribe Federal rules governing the activities of debt collectors, as that term is defined in the FDCPA. The NPRM provided a 90-day comment period that was set to close on August 19, 2019. To allow interested persons more time to consider and submit their comments, the Bureau has determined that an extension of the comment period until September 18, 2019, is appropriate.
Home Mortgage Disclosure (Regulation C); Reopening of Comment Period
Document Number: 2019-16190
Type: Proposed Rule
Date: 2019-08-02
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is reopening the comment period for specific aspects of the proposed rule published by the Bureau in the Federal Register on May 13, 2019 (May 2019 Proposal). The May 2019 Proposal proposed amendments to Regulation C relating to the coverage thresholds for reporting data on closed-end mortgage loans and open-end lines of credit and partial exemptions under the Home Mortgage Disclosure Act (HMDA). To facilitate the potential revisions of the thresholds that the Bureau proposed to take effect on January 1, 2020, the Bureau used a 30-day comment period, which ended on June 12, 2019. Later this summer, the national loan level dataset for 2018 and the Bureau's annual overview of residential mortgage lending based on that data (collectively, the 2018 HMDA Data) will be released. Stakeholders have asked to submit comments on the May 2019 Proposal that reflect the 2018 HMDA Data. To allow for the submission of such comments, the Bureau now reopens the comment period on certain aspects of the proposal until October 15, 2019.
Truth in Lending (Regulation Z) Annual Threshold Adjustments (Credit Cards, HOEPA, and Qualified Mortgages)
Document Number: 2019-16300
Type: Rule
Date: 2019-08-01
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule amending the regulation 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 revises, as applicable, the dollar amounts for provisions implementing TILA and amendments to TILA, including 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). The Bureau is adjusting these amounts, where appropriate, based on the annual percentage change reflected in the Consumer Price Index (CPI) in effect on June 1, 2019.
Agency Information Collection Activities: Comment Request
Document Number: 2019-16304
Type: Notice
Date: 2019-07-31
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, ``Applications for Advisory Committees.''
Qualified Mortgage Definition Under the Truth in Lending Act (Regulation Z)
Document Number: 2019-16298
Type: Proposed Rule
Date: 2019-07-31
Agency: Bureau of Consumer Financial Protection
With certain exceptions, Regulation Z requires creditors to make a reasonable, good faith determination of a consumer's ability to repay any residential mortgage loan, and loans that meet Regulation Z's requirements for ``qualified mortgages'' obtain certain protections from liability. One category of qualified mortgages (QMs) is loans that are eligible for purchase or guarantee by either the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac). Under Regulation Z, this category of QMs (Temporary GSE QM loans) is scheduled to expire no later than January 10, 2021. The Bureau currently plans to allow the Temporary GSE QM loan category to expire in January 2021 or after a short extension, if necessary, to facilitate a smooth and orderly transition away from the Temporary GSE QM loan category. The Bureau is considering whether to propose revisions to Regulation Z's general qualified mortgage definition in light of that planned expiration and is issuing this ANPR to request information about possible revisions.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2019-16239
Type: Notice
Date: 2019-07-31
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 changes the Office of Management and Budget (OMB) approval for an existing information collection, titled, Trial Disclosure Policy.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2019-16006
Type: Notice
Date: 2019-07-29
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is proposing 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: Submission for OMB Review; Comment Request
Document Number: 2019-15501
Type: Notice
Date: 2019-07-22
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, ``Real Estate Settlement Procedures Act (Regulation X).''
Fair Lending Report of the Bureau of Consumer Financial Protection, June 2019
Document Number: 2019-14384
Type: Notice
Date: 2019-07-08
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing its seventh Fair Lending Report of the Bureau of Consumer Financial Protection (Fair Lending Report) to Congress. The Bureau is committed to ensuring fair access to credit and eliminating discriminatory lending practices. This report describes the Bureau's fair lending activities in prioritization, supervision, enforcement, rulemaking, interagency coordination, and outreach for calendar year 2018.
Home Mortgage Disclosure (Regulation C) Data Points and Coverage; Extension of Comment Period
Document Number: 2019-14174
Type: Proposed Rule
Date: 2019-07-03
Agency: Bureau of Consumer Financial Protection
On May 8, 2019, the Bureau of Consumer Financial Protection (Bureau) published in the Federal Register an Advance Notice of Proposed Rulemaking (ANPR) soliciting comments relating to the data points the Bureau's October 2015 final rule implementing the Home Mortgage Disclosure Act (HMDA) added to Regulation C or revised to require additional information. The ANPR also solicits comments relating to the requirement that institutions report certain business- or commercial-purpose transactions under Regulation C. The ANPR provided a 60-day comment period that will end on July 8, 2019. To allow interested persons more time to consider and submit their responses, the Bureau has determined that an extension of the comment period until October 15, 2019 is appropriate.