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

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.

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.