Bureau of Consumer Financial Protection 2021 – Federal Register Recent Federal Regulation Documents

Agency Information Collection Activities: Comment Request
Document Number: 2021-20307
Type: Notice
Date: 2021-09-21
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, ``Report of Terms of Credit Card Plans (Form FR 2572) and Consumer and College Credit Card Agreements.''
Debt Collection Practices (Regulation F); Withdrawal of Proposal To Delay Effective Date
Document Number: 2021-18799
Type: Proposed Rule
Date: 2021-09-01
Agency: Bureau of Consumer Financial Protection
In 2020, the Bureau of Consumer Financial Protection (Bureau) finalized two rules (together, the Debt Collection Final Rules) revising Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA). As finalized, the Debt Collection Final Rules had an effective date of November 30, 2021. On April 7, 2021, the Bureau issued a proposal to delay that effective date by sixty days, until January 29, 2022. The Bureau is withdrawing that proposal for the reasons provided in this document. The Debt Collection Final Rules will take effect on November 30, 2021.
Privacy Act Implementation Rules
Document Number: 2021-18589
Type: Rule
Date: 2021-09-01
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau or CFPB) makes limited revisions to its regulations that establish the procedures used by the public to obtain records from the Bureau under the Privacy Act of 1974 (Privacy Act). The revisions will change the definition of ``Chief Privacy Officer'' in order to align the Chief Privacy Officer's authorities and responsibilities identified in the regulation to those of the Bureau's designated Senior Agency Official for Privacy. The revisions will also facilitate electronic or remote identity proofing and authentication by creating an additional method for a requester to verify their identity when submitting a Privacy Act request to the Bureau.
Technical Specifications for Credit Card Agreement and Data Submissions Required Under TILA and the CARD Act (Regulation Z)
Document Number: 2021-17994
Type: Rule
Date: 2021-08-23
Agency: Bureau of Consumer Financial Protection
Certain credit card issuers must submit credit card agreements and data to the Bureau of Consumer Financial Protection (Bureau) under the Truth in Lending Act (TILA) and the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act). The Bureau is issuing new technical specifications for complying with those submission requirements. Credit card issuers will make the required submissions under TILA and the CARD Act through the Bureau's ``Collect'' website. These technical specifications include registration information and the URL for the website at which issuers (or their designees) can submit the required information.
Truth in Lending (Regulation Z); Impact of the 2021 Juneteenth Holiday on Certain Closed-End Mortgage Requirements
Document Number: 2021-17050
Type: Rule
Date: 2021-08-12
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing this interpretive rule to provide guidance on certain Regulation Z timing requirements related to rescission of closed-end mortgages and the TILA-RESPA Integrated Disclosures (TRID). These timing requirements are based on a definition of ``business day'' that excludes days that are designated as legal public holidays under Federal law. The interpretive rule explains these timing requirements in light of recent legislation that designated ``Juneteenth National Independence Day, June 19'' (Juneteenth) as a Federal legal public holiday. It clarifies that, if the relevant closed-end rescission or TRID time period began on or before June 17, 2021, then June 19, 2021, was considered a business day, but nothing prohibits creditors from providing longer time periods. Therefore, it would also be compliant for creditors to have considered June 19, 2021, a Federal holiday for purposes of these provisions.
Agency Information Collection Activities: Comment Request
Document Number: 2021-17073
Type: Notice
Date: 2021-08-11
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is publishing this notice seeking comment on a Generic Information Collection titled ``Electronic Disclosure on Mobile Devices'' prior to requesting the Office of Management and Budget's (OMB's) approval of this collection under the Generic Information Collection Plan ``Generic Information Collection Plan for Studies of Consumers using Controlled Trials in Field and Economic Laboratory Settings,'' OMB Control number 3170-0048.
Publication of FY 2018 Service Contract Inventory
Document Number: 2021-16634
Type: Notice
Date: 2021-08-04
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 2018 service contract inventory. This inventory provides information on service contract actions over $25,000, which the Bureau funded during FY 2018. 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 by the Office of Management and Budget's Office of Federal Procurement Policy (OFPP). The Bureau has posted its inventory on the Bureau's Open Government homepage at the following link: http://www.consumerfinance.gov/about-us/doing-business- with-us/past-awards/.
Semiannual Regulatory Agenda
Document Number: 2021-14877
Type: Proposed Rule
Date: 2021-07-30
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is publishing this agenda as part of the Spring 2021 Unified Agenda of Federal Regulatory and Deregulatory Actions. The Bureau reasonably anticipates having the regulatory matters identified below under consideration during the period from May 1, 2021 to April 30, 2022. The next agenda will be published in Fall 2021 and will update this agenda through Fall 2022. Publication of this agenda is in accordance with the Regulatory Flexibility Act (5 U.S.C. 601 et seq.).
Academic Research Council Meeting
Document Number: 2021-15754
Type: Notice
Date: 2021-07-28
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.
Consumer Advisory Board Meeting
Document Number: 2021-15752
Type: Notice
Date: 2021-07-28
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 Consumer Advisory Board (CAB or Board) of the Bureau of Consumer Financial Protection (Bureau). The notice also describes the functions of the Board.
Community Bank Advisory Council Meeting
Document Number: 2021-15751
Type: Notice
Date: 2021-07-28
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.
Credit Union Advisory Council Meeting
Document Number: 2021-15749
Type: Notice
Date: 2021-07-28
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.
Supervisory Highlights, Issue 24, Summer 2021
Document Number: 2021-14525
Type: Notice
Date: 2021-07-08
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (CFPB or Bureau) is issuing its twenty fourth edition of Supervisory Highlights.
Bulletin 2021-03: Consumer Reporting of Rental Information
Document Number: 2021-14459
Type: Rule
Date: 2021-07-07
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing this Enforcement compliance bulletin and policy guidance (Bulletin) regarding consumer reporting of rental information in light of upcoming heightened risks to renters associated with inaccurate consumer reporting information. As pandemic-related government interventions aimed at protecting renters begin to expire over the coming months, the Bureau will be paying particular attention to consumer reporting agencies' (CRAs') and furnishers' compliance with their accuracy and dispute obligations under the Fair Credit Reporting Act (FCRA) and Regulation V with respect to rental information. The Bureau will hold CRAs and furnishers accountable for failing to comply with the FCRA and Regulation V. The economic recovery of renters and their ability to secure new rental housing should not be impeded by noncompliance with the law.
Agency Information Collection Activities: Submission for OMB Review: Comment Request
Document Number: 2021-14181
Type: Notice
Date: 2021-07-02
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 Office of Management and Budget's (OMB's) approval of a generic Information Collection titled, ``Making Ends Meet Survey,'' under the Generic Information Collection Plan entitled, ``Generic Information Collection Plan for Surveys Using the Consumer Credit Panel.''
Protections for Borrowers Affected by the COVID-19 Emergency Under the Real Estate Settlement Procedures Act (RESPA), Regulation X
Document Number: 2021-13964
Type: Rule
Date: 2021-06-30
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to amend Regulation X to assist mortgage borrowers affected by the COVID-19 emergency. The final rule establishes temporary procedural safeguards to help ensure that borrowers have a meaningful opportunity to be reviewed for loss mitigation before the servicer can make the first notice or filing required for foreclosure on certain mortgages. In addition, the final rule would temporarily permit mortgage servicers to offer certain loan modifications made available to borrowers experiencing a COVID-19- related hardship based on the evaluation of an incomplete application. The Bureau is also finalizing certain temporary amendments to the early intervention and reasonable diligence obligations that Regulation X imposes on mortgage servicers.
Agency Information Collection Activities: Comment Request
Document Number: 2021-13918
Type: Notice
Date: 2021-06-30
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection, titled, ``State Official Notification Rule12 CFR 1082.1.''
Examinations for Risks to Active-Duty Servicemembers and Their Covered Dependents
Document Number: 2021-13074
Type: Rule
Date: 2021-06-23
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) has statutory authority to conduct examinations, at those institutions that it supervises, regarding the risks to active-duty servicemembers and their covered dependents that are presented by conduct that violates the Military Lending Act. This interpretive rule explains the basis for that authority.
Higher-Priced Mortgage Loan Escrow Exemption (Regulation Z); Correcting Amendments
Document Number: 2021-11571
Type: Rule
Date: 2021-06-03
Agency: Bureau of Consumer Financial Protection
This document corrects the Official Interpretations (Commentary) to Regulation Z. Specifically, the Bureau of Consumer Financial Protection (Bureau) is adding a comment to its Commentary that it included in a recent higher-priced mortgage loan escrow exemption final rule but that was not incorporated into the Code of Federal Regulations (CFR) due to an omission in an amendatory instruction. The Bureau is also revising a comment that it included in the same recent final rule, but that inadvertently did not appear in a subsequently effective final rule.
Request for Information and Comment on Financial Institutions' Use of Artificial Intelligence, Including Machine Learning
Document Number: 2021-10861
Type: Notice
Date: 2021-05-24
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, National Credit Union Administration, 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
On March 31, 2021, the Board, Bureau, FDIC, NCUA, and OCC (together, the agencies) published in the Federal Register a document entitled ``Request for Information and Comment on Financial Institutions' Use of Artificial Intelligence, including Machine Learning'' (RFI) and invited comments on financial institutions' use of artificial intelligence (AI), including machine learning (ML). In response to concerns raised by commenters that the current comment deadline may not provide sufficient time to analyze and respond to the RFI due to the complex technical nature and significance of the topic, the agencies have determined that an extension of the comment period until July 1, 2021, is appropriate.
Agency Information Collection Activities: Comment Request
Document Number: 2021-10794
Type: Notice
Date: 2021-05-21
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 revise an existing information collection, titled ``Report of Terms of Credit Card Plans (Form FR 2572) and Consumer and College Credit Card Agreements.''
Agency Information Collection Activities: Notice of Approval of Information Collection Requirements
Document Number: 2021-09533
Type: Notice
Date: 2021-05-06
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is announcing Office of Management and Budget (OMB) approval of new information collection requirements contained in an interim final rule published in the Federal Register on April 22, 2021, ``Debt Collection Practices in Connection with the Global COVID-19 Pandemic (Regulation F).'' See the SUPPLEMENTARY INFORMATION section below for additional information about this OMB approval.
Qualified Mortgage Definition Under the Truth in Lending Act (Regulation Z): General QM Loan Definition; Delay of Mandatory Compliance Date
Document Number: 2021-09028
Type: Rule
Date: 2021-04-30
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to delay until October 1, 2022 the mandatory compliance date for the final rule titled Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z): General QM Loan Definition (General QM Final Rule). The Bureau is taking this action to help ensure access to responsible, affordable mortgage credit and to preserve flexibility for consumers affected by the COVID-19 pandemic and its economic effects.
Fair Lending Report of the Bureau of Consumer Financial Protection, April 2021
Document Number: 2021-08716
Type: Notice
Date: 2021-04-27
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing its ninth Fair Lending Report of the Bureau of Consumer Financial Protection (Fair Lending Report) to Congress. The Bureau is committed to ensuring fair, equitable, and nondiscriminatory access to credit for both individuals and communities. This report describes our fair lending activities in supervision and enforcement; guidance and rulemaking; interagency coordination; and outreach and education for calendar year 2020.
Agency Information Collection Activities: Comment Request
Document Number: 2021-08561
Type: Notice
Date: 2021-04-26
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is publishing this notice seeking comment on a Generic Information Collection titled ``Experiment in Effective Consumer Financial Disclosures'' prior to requesting the Office of Management and Budget's (OMB's) approval of this collection under the Generic Information Collection Plan ``Generic Information Collection Plan for Studies of Consumers using Controlled Trials in Field and Economic Laboratory Settings'' OMB Control number 3170-0048.
Agency Information Collection Activities: Comment Request; Emergency Processing Request
Document Number: 2021-08304
Type: Notice
Date: 2021-04-22
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is proposing a new information collection titled, ``Interim Final Rule on Debt Collection Practices in Connection with the Global COVID-19 Pandemic.''
Debt Collection Practices in Connection With the Global COVID-19 Pandemic (Regulation F)
Document Number: 2021-08303
Type: Rule
Date: 2021-04-22
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing this interim final rule to amend Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA) and currently contains the procedures for State application for exemption from the provisions of the FDCPA. The interim final rule addresses certain debt collector conduct associated with an eviction moratorium issued by the Centers for Disease Control and Prevention (CDC) in response to the global COVID-19 pandemic. The interim final rule requires that debt collectors provide written notice to certain consumers of their protections under the CDC eviction moratorium and prohibit misrepresentations about consumers' ineligibility for protection under such moratorium.
Debt Collection Practices (Regulation F); Delay of Effective Date
Document Number: 2021-07505
Type: Proposed Rule
Date: 2021-04-19
Agency: Bureau of Consumer Financial Protection
In 2020, the Bureau of Consumer Financial Protection (Bureau) finalized two rules titled Debt Collection Practices (Regulation F). The rules revise Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA). Both final rules have an effective date of November 30, 2021. The Bureau is proposing to extend that effective date by 60 days, until January 29, 2022.
Protections for Borrowers Affected by the COVID-19 Emergency Under the Real Estate Settlement Procedures Act (RESPA), Regulation X
Document Number: 2021-07236
Type: Proposed Rule
Date: 2021-04-09
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) seeks comment on proposed amendments to Regulation X to assist borrowers affected by the COVID-19 emergency. The Bureau is taking this action to help ensure that borrowers affected by the COVID-19 pandemic have an opportunity to be evaluated for loss mitigation before the initiation of foreclosure. The proposed amendments would establish a temporary COVID-19 emergency pre-foreclosure review period until December 31, 2021, for principal residences. In addition, the proposed amendments would temporarily permit mortgage servicers to offer certain loan modifications made available to borrowers experiencing a COVID-19- related hardship based on the evaluation of an incomplete application. The Bureau also proposes certain amendments to the early intervention and reasonable diligence obligations that Regulation X imposes on mortgage servicers.
Rescission of Statement of Policy on Supervisory and Enforcement Practices Regarding Electronic Credit Card Disclosures in Light of the COVID-19 Pandemic
Document Number: 2021-06970
Type: Rule
Date: 2021-04-06
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is rescinding the Statement on Supervisory and Enforcement Practices Regarding Electronic Credit Card Disclosures in Light of the COVID-19 Pandemic.
Rescission of Statement of Policy on Supervisory and Enforcement Practices Regarding Regulation Z Billing Error Resolution Timeframes in Light of the COVID-19 Pandemic
Document Number: 2021-06969
Type: Rule
Date: 2021-04-06
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is rescinding the Statement on Supervisory and Enforcement Practices Regarding Regulation Z Billing Error Resolution Timeframes in Light of the COVID-19 Pandemic.
Rescission of Statement of Policy on Supervisory and Enforcement Practices Regarding Certain Filing Requirements Under the Interstate Land Sales Full Disclosure Act and Regulation J
Document Number: 2021-06968
Type: Rule
Date: 2021-04-06
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is rescinding the Statement on Supervisory and Enforcement Practices Regarding Certain Filing Requirements Under the Interstate Land Sales Full Disclosure Act and Regulation J.
Rescission of Statement of Policy on Supervisory and Enforcement Practices Regarding the Fair Credit Reporting Act and Regulation V in Light of the CARES Act
Document Number: 2021-06967
Type: Rule
Date: 2021-04-06
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is rescinding the Statement on Supervisory and Enforcement Practices Regarding the Fair Credit Reporting Act and Regulation V in Light of the CARES Act.
Rescission of Statement of Policy on Supervisory and Enforcement Practices Regarding Bureau Information Collections for Credit Card and Prepaid Account Issuers
Document Number: 2021-06966
Type: Rule
Date: 2021-04-06
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is rescinding the Statement on Supervisory and Enforcement Practices Regarding Bureau Information Collections for Credit Card and Prepaid Account Issuers.
Rescission of Statement of Policy on Supervisory and Enforcement Practices Regarding Quarterly Reporting Under the Home Mortgage Disclosure Act
Document Number: 2021-06965
Type: Rule
Date: 2021-04-06
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is rescinding the Statement on Supervisory and Enforcement Practices Regarding Quarterly Reporting Under the Home Mortgage Disclosure Act.
Rescission of Statement of Policy on Bureau Supervisory and Enforcement Response to COVID-19 Pandemic
Document Number: 2021-06964
Type: Rule
Date: 2021-04-06
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is rescinding the Statement on Bureau Supervisory and Enforcement Response to COVID-19 Pandemic.
Request for Information and Comment on Financial Institutions' Use of Artificial Intelligence, Including Machine Learning
Document Number: 2021-06607
Type: Notice
Date: 2021-03-31
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, National Credit Union Administration, 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 agencies are gathering information and comments on financial institutions' use of artificial intelligence (AI), including machine learning (ML). The purpose of this request for information (RFI) is to understand respondents' views on the use of AI by financial institutions in their provision of services to customers and for other business or operational purposes; appropriate governance, risk management, and controls over AI; and any challenges in developing, adopting, and managing AI. The RFI also solicits respondents' views on the use of AI in financial services to assist in determining whether any clarifications from the agencies would be helpful for financial institutions' use of AI in a safe and sound manner and in compliance with applicable laws and regulations, including those related to consumer protection.
Semiannual Regulatory Agenda
Document Number: 2021-04346
Type: Proposed Rule
Date: 2021-03-31
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is publishing this agenda as part of the Fall 2020 Unified Agenda of Federal Regulatory and Deregulatory Actions. The Bureau reasonably anticipates having the regulatory matters identified below under consideration during the period from November 2020 to November 2021. The next agenda will be published in spring 2021 and will update this agenda through spring 2022. Publication of this agenda is in accordance with the Regulatory Flexibility Act (5 U.S.C. 601 et seq.).
Agency Information Collection Activities: Comment Request
Document Number: 2021-05818
Type: Notice
Date: 2021-03-22
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's (OMB's) approval for an existing information collection, titled ``State Official Notification Rule''
Statement of Policy Regarding Prohibition on Abusive Acts or Practices; Rescission
Document Number: 2021-05437
Type: Rule
Date: 2021-03-19
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection is rescinding the Statement of Policy Regarding Prohibition on Abusive Acts or Practices.
Renewal of Community Bank Advisory Council
Document Number: 2021-05336
Type: Notice
Date: 2021-03-18
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau), after consultation with the Committee Management Secretariat of the General Services Administration, will renew the Community Bank Advisory Council (the committee or the CBAC) effective on March 18, 2021. The CBAC was established to consult with the Bureau in the exercise of its functions under the Federal consumer financial laws as they pertain to community banks with total assets of $10 billion or less.
Renewal of Credit Union Advisory Council
Document Number: 2021-05319
Type: Notice
Date: 2021-03-18
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau), after consultation with the Committee Management Secretariat of the General Services Administration, will renew the Credit Union Advisory Council (the committee or the CUAC) effective on March 18, 2021. The CUAC was established to consult with the Bureau in the exercise of its functions under the Federal consumer financial laws as they pertain to credit unions with total assets of $10 billion or less.
Renewal of Consumer Advisory Board
Document Number: 2021-05316
Type: Notice
Date: 2021-03-18
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau), after consultation with the Committee Management Secretariat of the General Services Administration, will renew the Consumer Advisory Board (the committee or the CAB) effective on March 18, 2021. The CAB will ``advise and consult with the Bureau in the exercise of its functions under the Federal consumer financial laws'' and ``provide information on emerging practices in the consumer financial products or services industry, including regional trends, concerns, and other relevant information'' as outlined in Section 1014(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Renewal of Academic Research Council
Document Number: 2021-05315
Type: Notice
Date: 2021-03-18
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau), after consultation with the Committee Management Secretariat of the General Services Administration, will renew the Academic Research Council (the committee or the ARC) effective on March 18, 2021. The ARC will provide the Bureau with advice about its strategic research planning process and research agenda, including views on the research that the Bureau should conduct relating to consumer financial products or services, consumer behavior, cost-benefit analysis, or other topics to enable the agency to further its statutory purposes and objectives; and, provide the Office of Research with technical advice and feedback on research methodologies, data collection strategies, and methods of analysis, including methodologies and strategies for quantifying the costs and benefits of regulatory actions.
Equal Credit Opportunity (Regulation B); Discrimination on the Bases of Sexual Orientation and Gender Identity
Document Number: 2021-05233
Type: Rule
Date: 2021-03-16
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing this interpretive rule to clarify that, with respect to any aspect of a credit transaction, the prohibition against sex discrimination in the Equal Credit Opportunity Act (ECOA) and Regulation B, which implements ECOA, encompasses sexual orientation discrimination and gender identity discrimination, including discrimination based on actual or perceived nonconformity with sex- based or gender-based stereotypes and discrimination based on an applicant's associations.
Qualified Mortgage Definition Under the Truth in Lending Act (Regulation Z): General QM Loan Definition; Delay of Mandatory Compliance Date
Document Number: 2021-04698
Type: Proposed Rule
Date: 2021-03-05
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is proposing to delay the mandatory compliance date of the final rule titled Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z): General QM Loan Definition (General QM Final Rule) until October 1, 2022.
Higher-Priced Mortgage Loan Escrow Exemption (Regulation Z)
Document Number: 2021-01572
Type: Rule
Date: 2021-02-17
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to amend Regulation Z, which implements the Truth in Lending Act, as mandated by section 108 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. The amendments exempt certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans.
Role of Supervisory Guidance
Document Number: 2021-01524
Type: Rule
Date: 2021-02-12
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is adopting a final rule that codifies the Interagency Statement Clarifying the Role of Supervisory Guidance, issued by the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), and the Bureau (collectively, the agencies) on September 11, 2018 (2018 Statement). By codifying the 2018 Statement, with amendments, the final rule confirms that the Bureau will continue to follow and respect the limits of administrative law in carrying out its supervisory responsibilities. The 2018 Statement reiterated well-established law by stating that, unlike a law or regulation, supervisory guidance does not have the force and effect of law. As such, supervisory guidance does not create binding legal obligations for the public. Because it is incorporated into the final rule, the 2018 Statement, as amended, is binding on the Bureau. The final rule adopts the rule as proposed without substantive change.
Privacy Act of 1974; System of Records
Document Number: 2021-02668
Type: Notice
Date: 2021-02-09
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (CFPB or Bureau) is establishing CFPB.029, Public Health and Safety System, a system of records under the Privacy Act of 1974. This system of records maintains information collected in response to a public health emergency or similar health and safety incident, such as a pandemic, epidemic, or man-made emergency, that is necessary to ensure a safe and healthy environment for individuals who are occupying CFPB facilities, attending CFPB-sponsored events, or otherwise engaged in official business on behalf of the Bureau.
Qualified Mortgage Definition Under the Truth in Lending Act (Regulation Z): Seasoned QM Loan Definition; Correction
Document Number: 2021-01387
Type: Rule
Date: 2021-02-05
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) recently published ``Qualified Mortgage Definition Under the Truth in Lending Act (Regulation Z): Seasoned QM Loan Definition,'' which appeared in the Federal Register on December 29, 2020. This document corrects a scrivener's error in an amendatory instruction in that document.