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

Results 501 - 550 of 794
Request for Information Regarding an Initiative on Safe Student Banking
Document Number: 2015-01492
Type: Notice
Date: 2015-01-27
Agency: Bureau of Consumer Financial Protection
The Consumer Financial Protection Bureau (Bureau or CFPB) seeks feedback on a draft Safe Student Account Scorecard that offers information to colleges and universities when soliciting agreements from financial institutions to market safe and affordable financial accounts for their students. The Bureau seeks comment from the public, including student and parent consumers, institutions of higher education, and financial institutions.
Consumer Advisory Board and Councils Solicitation of Applications for Membership
Document Number: 2015-00565
Type: Notice
Date: 2015-01-16
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 (the ``Board''), Community Bank Advisory Council, and Credit Union Advisory Council. Membership of the Board and Advisory Councils includes representatives of consumers, communities, the financial services industry and academics. Appointments to the Advisory Board are typically for three years and appointments to the Advisory 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 2015.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2015-00104
Type: Notice
Date: 2015-01-08
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, ``Bridges to Financial Security: A Multi-site Demonstration Project.''
Privacy Act of 1974, as Amended
Document Number: 2014-30720
Type: Notice
Date: 2014-12-31
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.
Privacy Act of 1974, as Amended
Document Number: 2014-30655
Type: Notice
Date: 2014-12-31
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 the ``Bureau''), gives notice of the establishment of a Privacy Act System of Records.
Appraisals for Higher-Priced Mortgage Loans Exemption Threshold Adjustment-Final Rule
Document Number: 2014-30419
Type: Rule
Date: 2014-12-30
Agency: 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 OCC, the Board and the Bureau are publishing final rules amending the official staff 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 mortgages'' 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). Based on the annual percentage increase in the CPI-W as of June 1, 2014, the OCC, the Board and the Bureau are adjusting the exemption threshold to $25,500, effective January 1, 2015.
Agency Information Collection Activities: Comment Request
Document Number: 2014-30411
Type: Notice
Date: 2014-12-29
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (CFPB) is proposing to renew the approval for an existing information collection titled, ``CFPB's Consumer Response Intake Form.''
Agency Information Collection Activities: Comment Request
Document Number: 2014-30410
Type: Notice
Date: 2014-12-29
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (CFPB) is proposing to renew the approval for an existing information collection titled, ``Generic Information Collection Plan for Consumer Complaint and Information Collection System (Testing and Feedback).''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2014-30407
Type: Notice
Date: 2014-12-29
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 Coaching Program for Veterans and Low-income Consumers.''
Truth in Lending Act (Regulation Z) Adjustment to Asset-Size Exemption Threshold
Document Number: 2014-30405
Type: Rule
Date: 2014-12-29
Agency: Bureau of Consumer Financial Protection
The 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 based on the annual percentage change in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the 12-month period ending in November. The exemption threshold is adjusted to increase to $2.060 billion from $2.028 billion. The adjustment is based on the 1.1 percent increase in the average of the CPI-W for the 12-month period ending in November 2014. Therefore, creditors with assets of $2.060 billion or less as of December 31, 2014, are exempt, if other requirements of Regulation Z also are met, from establishing escrow accounts for higher-priced mortgage loans in 2015. The adjustment to the escrows exemption asset-size threshold will also increase a similar threshold for small-creditor portfolio and balloon-payment qualified mortgages. Balloon-payment qualified mortgages that satisfy all applicable criteria, including being made by creditors that do not exceed the asset-size threshold, are also excepted from the prohibition on balloon payments for high-cost mortgages.
Home Mortgage Disclosure (Regulation C) Adjustment to Asset-Size Exemption Threshold
Document Number: 2014-30404
Type: Rule
Date: 2014-12-29
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing a final rule amending the official commentary that interprets the requirements of the Bureau's Regulation C (Home Mortgage Disclosure) to reflect a change in 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). The exemption threshold is adjusted to increase to $44 million from $43 million. The adjustment is based on the 1.1 percent increase in the average of the CPI-W for the 12-month period ending in November 2014. Therefore, banks, savings associations, and credit unions with assets of $44 million or less as of December 31, 2014, are exempt from collecting data in 2015.
Fair Credit Reporting Act Disclosures
Document Number: 2014-29215
Type: Notice
Date: 2014-12-15
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) announces that the ceiling on allowable charges under section 612(f) of the Fair Credit Reporting Act (FCRA) will increase from $11.50 to $12.00, effective for 2015. The Bureau is required to increase the $8.00 amount referred to in section 612(f)(1)(A)(i) of the FCRA on January 1 of each year, based proportionally on changes in the Consumer Price Index for All Urban Consumers (CPI-U), with fractional changes rounded to the nearest fifty cents. The CPI-U increased 47.66 percent between September 1997, when the FCRA amendments took effect, and September 2014. This increase in the CPI-U, and the requirement that any increase be rounded to the nearest fifty cents, result in a maximum allowable charge of $12.00.
Amendments to the 2013 Mortgage Rules under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z)
Document Number: 2014-28167
Type: Proposed Rule
Date: 2014-12-15
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is proposing amendments to certain mortgage servicing rules issued in 2013. These proposed amendments focus primarily on clarifying, revising, or amending provisions regarding force-placed insurance notices, policies and procedures, early intervention, and loss mitigation requirements under Regulation X's servicing provisions; and periodic statement requirements under Regulation Z's servicing provisions. The proposed amendments also address proper compliance regarding certain servicing requirements when a consumer is a potential or confirmed successor in interest, is in bankruptcy, or sends a cease communication request under the Fair Debt Collection Practices Act. The proposed rule makes technical corrections to several provisions of Regulations X and Z. The Bureau requests public comment on these changes.
Agency Information Collection Activities: Comment Request
Document Number: 2014-28511
Type: Notice
Date: 2014-12-04
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, ``CFPB'S Consumer Complaint Intake System Company Portal Boarding Form Information Collection System.''
Agency Information Collection Activities: Comment Request
Document Number: 2014-26834
Type: Notice
Date: 2014-11-13
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 approval for an existing information collection, titled, ``CFPB State Official Notification Rule.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2014-26614
Type: Notice
Date: 2014-11-10
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, ``Teacher Training Initiative (TTI) Local Education Agencies (LEA) Partnership Application.''
Amendments to the 2013 Mortgage Rules Under the Truth in Lending Act (Regulation Z)
Document Number: 2014-25503
Type: Rule
Date: 2014-11-03
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is amending certain mortgage rules issued in 2013. The final rule provides an alternative small servicer definition for nonprofit entities that meet certain requirements and amends the existing exemption from the ability-to-repay rule for nonprofit entities that meet certain requirements. The final rule also provides a cure mechanism for the points and fees limit that applies to qualified mortgages.
Amendments to the 2013 Integrated Mortgage Disclosures Rule Under the Real Estate Settlement Procedures Act (Regulation X) and Truth In Lending Act (Regulation Z) and the 2013 Loan Originator Rule Under the Truth in Lending Act (Regulation Z)
Document Number: 2014-24739
Type: Proposed Rule
Date: 2014-10-29
Agency: Bureau of Consumer Financial Protection
The Bureau is proposing two modifications to the Truth in Lending Act and Real Estate Settlement Procedures Act Final Rule (TILA- RESPA Final Rule): An adjustment to the timing requirement for revised disclosures when the consumer locks a rate or extends a rate lock after the initial disclosures are provided; and an amendment to permit language related to new construction loans to be included on the Loan Estimate form. The Bureau also is proposing to amend the 2013 Loan Originator Final Rule to provide for placement of the Nationwide Mortgage Licensing System and Registry ID (NMLSR ID) on the integrated disclosures. Additionally, the Bureau is proposing technical corrections, including citation and cross-reference updates, and wording changes for clarification purposes to various provisions of Regulations X and Z as amended or adopted by the TILA-RESPA Final Rule.
Amendment to the Annual Privacy Notice Requirement Under the Gramm-Leach-Bliley Act (Regulation P)
Document Number: 2014-25299
Type: Rule
Date: 2014-10-28
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is amending Regulation P, which requires, among other things, that financial institutions provide an annual disclosure of their privacy policies to their customers. The amendment creates an alternative delivery method for this annual disclosure, which financial institutions will be able to use under certain circumstances.
Compliance Bulletin and Policy Guidance-Mortgage Servicing Transfers
Document Number: 2014-24194
Type: Rule
Date: 2014-10-23
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (CFPB) is issuing a compliance bulletin and policy guidance entitled ``Compliance Bulletin and Policy GuidanceMortgage Servicing Transfers'' in light of potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.
Agency Information Collection Activities: Comment Request
Document Number: 2014-24738
Type: Notice
Date: 2014-10-17
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing a new information collection titled, ``Bridges to Financial Security: A Multi-site Demonstration Project.''
Agency Information Collection Activities: Comment Request
Document Number: 2014-24735
Type: Notice
Date: 2014-10-17
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing a new information collection request titled, ``Consumer and College Credit Card Agreements.''
Policy On No-Action Letters
Document Number: 2014-24645
Type: Notice
Date: 2014-10-16
Agency: Bureau of Consumer Financial Protection
The Consumer Financial Protection Bureau (Bureau) invites the public to take this opportunity to comment on its proposed Policy on No-Action Letters (Policy), which is intended to further its objectives under section 1021 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), and also a proposed information collection associated with applications submitted by applicants requesting no-action letters under the proposed Policy as required by the Paperwork Reduction Act of 1995.
Proposed Language Access Plan for the Consumer Financial Protection Bureau
Document Number: 2014-24122
Type: Notice
Date: 2014-10-08
Agency: Bureau of Consumer Financial Protection
Consistent with Executive Order 13166 (Aug. 11, 2000), the Consumer Financial Protection Bureau (Bureau or CFPB) is committed to providing persons with limited English proficiency (LEP) meaningful access to its programs and services. The Language Access Plan describes the Bureau's policy and how the Bureau's current language access activities are implemented across all of the Bureau's operations, programs and services. The Bureau will review this plan every three years and revise it as necessary. The public is invited to comment on the Bureau's programs and activities available to LEP persons and on steps that the Bureau could take to ensure that LEP persons have meaningful access to such services.
Defining Larger Participants of the Automobile Financing Market and Defining Certain Automobile Leasing Activity as a Financial Product or Service
Document Number: 2014-23115
Type: Proposed Rule
Date: 2014-10-08
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau or CFPB) proposes to amend the regulation defining larger participants of certain consumer financial product and service markets by adding a new section to define larger participants of a market for automobile financing. The new section would define a market that includes grants of credit for the purchase of an automobile, refinancings of such credit obligations, and purchases or acquisitions of such credit obligations (including refinancings). It would also include automobile leases and purchases or acquisitions of such automobile lease agreements. The Bureau is proposing this rule pursuant to its authority, under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), to supervise certain nonbank covered persons for compliance with Federal consumer financial law and for other purposes. The Bureau has the authority to supervise nonbank covered persons of all sizes in the residential mortgage, private education lending, and payday lending markets. In addition, the Bureau has the authority to supervise nonbank ``larger participant[s]'' of markets for other consumer financial products or services, as the Bureau defines by rule. The proposal (Proposed Rule) would identify a market for automobile financing and define as larger participants of this market certain nonbank covered persons that would be subject to the Bureau's supervisory authority. The Proposed Rule would also define certain automobile leases as a ``financial product or service'' under section 1002(15)(A)(xi)(II) of the Dodd-Frank Act. Finally, the Proposed Rule would make certain technical corrections to existing larger-participant rules.
Agency Information Collection Activities: Comment Request
Document Number: 2014-23017
Type: Notice
Date: 2014-09-26
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, ``Owning a Home Evaluation Study.''
Defining Larger Participants of the International Money Transfer Market
Document Number: 2014-22310
Type: Rule
Date: 2014-09-23
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau or CFPB) amends the regulation defining larger participants of certain consumer financial product and service markets by adding a new section to define larger participants of a market for international money transfers. The Bureau is issuing this final rule pursuant to its authority, under the Dodd-Frank Wall Street Reform and Consumer Protection Act, to supervise certain nonbank covered persons for compliance with Federal consumer financial law and for other purposes. The Bureau has the authority to supervise nonbank covered persons of all sizes in the residential mortgage, private education lending, and payday lending markets. In addition, the Bureau has the authority to supervise nonbank ``larger participant[s]'' of markets for other consumer financial products or services, as the Bureau defines by rule. The Bureau has issued rules defining larger participants of markets for consumer reporting, consumer debt collection, and student loan servicing. This final rule identifies a market for international money transfers and defines ``larger participants'' of this market that are subject to the Bureau's supervisory authority.
Truth in Lending (Regulation Z)
Document Number: 2014-21849
Type: Rule
Date: 2014-09-22
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 any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Based on the annual percentage increase in the CPI-W as of June 1, 2014, the Board and the Bureau are adjusting the exemption threshold to $54,600, effective January 1, 2015. 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 in a joint rulemaking published elsewhere in this issue of the Federal Register.
Consumer Leasing (Regulation M)
Document Number: 2014-21847
Type: Rule
Date: 2014-09-22
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 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 any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Based on the annual percentage increase in the CPI-W as of June 1, 2014, the Board and the Bureau are adjusting the exemption threshold to $54,600, effective January 1, 2015. 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 in a rule published elsewhere in the Federal Register.
Electronic Fund Transfers (Regulation E)
Document Number: 2014-20681
Type: Rule
Date: 2014-09-18
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is amending subpart B of Regulation E, which implements the Electronic Fund Transfer Act, and the official interpretation to the regulation (Remittance Rule). This final rule extends a temporary provision that permits insured institutions to estimate certain pricing disclosures pursuant to section 1073 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Absent further action by the Bureau, that exception would have expired on July 21, 2015. Based on a determination that the termination of the exception would negatively affect the ability of insured institutions to send remittance transfers, the Bureau is extending the temporary exception by five years from July 21, 2015, to July 21, 2020. The Bureau is also making several clarifications and technical corrections to the regulation and commentary.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2014-21425
Type: Notice
Date: 2014-09-09
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 generic information collection plan titled, ``CFPB Generic Information Collection Plan for Studies of Consumers Using Controlled Trials in Field and Economic Laboratory Settings.''
Consumer Advisory Board Meeting
Document Number: 2014-21187
Type: Notice
Date: 2014-09-05
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 6 of the CAB Charter and is intended to notify the public of this meeting. Specifically, Section X of the CAB Charter states: (1) Each meeting of the Board shall be open to public observation, to the extent that a facility is available to accommodate the public, unless the Bureau, in accordance with paragraph (4) of this section, determines that the meeting shall be closed. The Bureau also will make reasonable efforts to make the meetings available to the public through live Web streaming. (2) Notice of the time, place and purpose of each meeting, as well as a summary of the proposed agenda, shall be published in the Federal Register not more than 45 or less than 15 days prior to the scheduled meeting date. Shorter notice may be given when the Bureau determines that the Board's business so requires; in such event, the public will be given notice at the earliest practicable time. (3) Minutes of meetings, records, reports, studies, and agenda of the Board shall be posted on the Bureau's Web site (www.consumerfinance.gov). (4) The Bureau may close to the public a portion of any meeting, for confidential discussion. If the Bureau closes a meeting or any portion of a meeting, the Bureau will issue, at least annually, a summary of the Board's activities during such closed meetings or portions of meetings.
Agency Information Collection Activities: Comment Request
Document Number: 2014-21112
Type: Notice
Date: 2014-09-04
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (CFPB) is proposing a new information collection titled, ``Financial Coaching Program for Veterans and Low-income Consumers''.
Home Mortgage Disclosure (Regulation C)
Document Number: 2014-18353
Type: Proposed Rule
Date: 2014-08-29
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is publishing for public comment a proposed rule amending Regulation C to implement amendments to the Home Mortgage Disclosure Act (HMDA) made by section 1094 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Consistent with section 1094 of the Dodd-Frank Act, the Bureau proposes to add several new reporting requirements and to clarify several existing requirements. The Bureau is also proposing changes to institutional and transactional coverage under Regulation C.
Agency Information Collection Activities: Comment Request
Document Number: 2014-19736
Type: Notice
Date: 2014-08-20
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing a new information collection titled, ``Teacher Training Initiative (TTI) Local Education Agencies (LEA) Partnership Application.''
Truth in Lending (Regulation Z) Annual Threshold Adjustments (CARD ACT, HOEPA and ATR/QM)
Document Number: 2014-18838
Type: Rule
Date: 2014-08-15
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule amending the regulatory 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 reviews the dollar amounts for provisions implementing amendments to TILA 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). These amounts are adjusted, where appropriate, based on the annual percentage change reflected in the Consumer Price Index in effect on June 1, 2014. The minimum interest charge disclosure thresholds will remain unchanged in 2015. The adjusted dollar amount for the penalty fees safe harbor in 2015 is $27 for a first late payment and $38 for each subsequent violation within the following six months. For HOEPA loans, the adjusted total loan amount threshold is $20,391, effective January 1, 2015. The adjusted statutory fee trigger for HOPEA loans is $1,020, effective January 1, 2015. Effective January 1, 2015, for the purpose of creditor's determination of a consumer's ability to repay a transaction secured by a dwelling, a covered transaction is not a qualified mortgage unless the transaction's total points and fees do not exceed 3 percent of the total loan amount for a loan greater than or equal to $101,953; $3,059 for a loan amount greater than or equal to $61,172 but less than $101,953; 5 percent of the total loan amount for a loan greater than or equal to $20,391 but less than $61,172; $1,020 for a loan amount greater than or equal to $12,744 but less than $20,391; and 8 percent of the total loan amount for a loan amount less than $12,744.
Disclosure of Consumer Complaint Narrative Data
Document Number: 2014-18355
Type: Notice
Date: 2014-08-04
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) currently discloses certain complaint data it receives regarding consumer financial products and services via its web-based, public-facing database (Consumer Complaint Database). On July 23, 2014, the Bureau published in the Federal Register a Notice of Proposed Policy Statement with Request for Public Comment (Proposed Policy Statement) proposing to expand its disclosure to include unstructured consumer complaint narrative data (narratives). The Proposed Policy Statement provided a 30-day comment period that will end on August 22, 2014. To allow interested persons additional time to consider and submit their responses, the Bureau has determined that an extension of the comment period until September 22, 2014, is appropriate.
Disclosure of Consumer Complaint Narrative Data
Document Number: 2014-17274
Type: Notice
Date: 2014-07-23
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (``Bureau'') currently discloses certain complaint data it receives regarding consumer financial products and services via its web-based, public- facing database (``Consumer Complaint Database''). The Bureau proposes to expand that disclosure to include unstructured consumer complaint narrative data (``narratives''). Only those narratives for which opt-in consumer consent had been obtained and a robust personal information scrubbing standard and methodology applied would be subject to disclosure. The proposed policy (``Proposed Policy Statement'') would supplement the Bureau's existing Policy Statements establishing and expanding the Consumer Complaint Database.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2014-17272
Type: Notice
Date: 2014-07-23
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, ``Debt Collection Survey from the Consumer Credit Panel.''
Application of Regulation Z's Ability-To-Repay Rule to Certain Situations Involving Successors-in-Interest
Document Number: 2014-16780
Type: Rule
Date: 2014-07-17
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing this interpretive rule to clarify that the Bureau's Ability-to- Repay Rule incorporates the existing definition of ``assumption'' under Regulation Z.
Policy Guidance on Supervisory and Enforcement Considerations Relevant to Mortgage Brokers Transitioning to Mini-Correspondent Lenders
Document Number: 2014-16779
Type: Notice
Date: 2014-07-17
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (CFPB or Bureau) is issuing supervisory and enforcement guidance entitled ``Policy Guidance on Supervisory and Enforcement Considerations Relevant to Mortgage Brokers Transitioning to Mini-Correspondent Lenders,'' (Policy Guidance) which relates to the Bureau's exercise of its authority to supervise and enforce compliance with RESPA and Regulation X and TILA and Regulation Z in certain transactions involving ``mini-correspondent lenders.''
Rules of Practice for Issuance of Temporary Cease-and-Desist Orders
Document Number: 2014-14228
Type: Rule
Date: 2014-06-18
Agency: Bureau of Consumer Financial Protection
On September 26, 2013, 78 FR 59163, the Consumer Financial Protection Bureau (Bureau) published in the Federal Register an interim final rule establishing procedures for the issuance of a temporary cease-and-desist order (TCDO) pursuant to section 1053(c) of the Dodd- Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), which requires the Bureau to prescribe rules establishing procedures for the conduct of adjudication proceedings. After reviewing and considering the single public comment offered on its interim final rule, the Bureau adopts the interim final rule without change.
Semiannual Regulatory Agenda
Document Number: 2014-13135
Type: Unknown
Date: 2014-06-13
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (CFPB or Bureau) is publishing this Agenda as part of the Spring 2014 Unified Agenda of Federal Regulatory and Deregulatory Actions. The CFPB reasonably anticipates having the regulatory matters identified below under consideration during the period from April 1, 2014 to March 31, 2015. The next agenda will be published in the fall of 2014 and will update this agenda through the fall of 2015. Publication of this agenda is in accordance with the Regulatory Flexibility Act (5 U.S.C. 601 et seq.).
Request for Information Regarding the Use of Mobile Financial Services by Consumers and Its Potential for Improving the Financial Lives of Economically Vulnerable Consumers
Document Number: 2014-13552
Type: Notice
Date: 2014-06-12
Agency: Bureau of Consumer Financial Protection
The Consumer Financial Protection Bureau (Bureau or CFPB), established under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), has as part of its mission to empower consumers to take more control over their economic lives. The Bureau is charged with promoting financial education, researching developments in markets for consumer financial services and products, and providing information, guidance, and technical assistance regarding the offering and provision of consumer financial products or services to traditionally underserved consumers and communities. This notice seeks information about how consumers are using mobile financial services to access products and services, manage finances and achieve their financial goals with a focus on economically vulnerable consumers. We use ``mobile financial services'' (MFS) in this Request for Information (RFI) to cover mobile banking services and mobile financial management services. The RFI does not address mobile point of sale (``POS'') payments, except with respect to mobile payment products that are targeted specifically for low-income and underserved consumers, where it seeks to learn about how such targeting could benefit or harm those categories of consumers. The information from the responses will be used to inform the Bureau's consumer education and empowerment strategies related to developments in these areas.
Consumer Advisory Board Meeting
Document Number: 2014-13432
Type: Notice
Date: 2014-06-09
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 6 of the CAB Charter and is intended to notify the public of this meeting. Specifically, Section X of the CAB Charter states: (1) Each meeting of the Board shall be open to public observation, to the extent that a facility is available to accommodate the public, unless the Bureau, in accordance with paragraph (4) of this section, determines that the meeting shall be closed. The Bureau also will make reasonable efforts to make the meetings available to the public through live web streaming. (2) Notice of the time, place and purpose of each meeting, as well as a summary of the proposed agenda, shall be published in the Federal Register not more than 45 or less than 15 days prior to the scheduled meeting date. Shorter notice may be given when the Bureau determines that the Board's business so requires; in such event, the public will be given notice at the earliest practicable time. (3) Minutes of meetings, records, reports, studies, and agenda of the Board shall be posted on the Bureau's Web site (www.consumerfinance.gov). (4) The Bureau may close to the public a portion of any meeting, for confidential discussion. If the Bureau closes a meeting or any portion of a meeting, the Bureau will issue, at least annually, a summary of the Board's activities during such closed meetings or portions of meetings.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2014-12412
Type: Notice
Date: 2014-05-29
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: ``Telephone Survey Exploring Consumer Awareness of and Perceptions Regarding Dispute Resolution Provisions in Credit card Agreements.''
Amendment to the Annual Privacy Notice Requirement Under the Gramm-Leach-Bliley Act (Regulation P)
Document Number: 2014-12148
Type: Proposed Rule
Date: 2014-05-28
Agency: Bureau of Consumer Financial Protection
On May 13, 2014, the Bureau of Consumer Financial Protection (Bureau) published in the Federal Register a Notice of Proposed Rulemaking proposing an amendment to the annual privacy notice requirement set forth in subpart A of Regulation P (Annual Privacy Notice Proposal). The Annual Privacy Notice Proposal allowed a 30-day comment period that will end on June 12, 2014. To allow interested persons additional time to consider and submit their responses, the Bureau has determined that an extension of the comment period until July 14, 2014, is appropriate.
Electronic Fund Transfers (Regulation E)
Document Number: 2014-11421
Type: Proposed Rule
Date: 2014-05-16
Agency: Bureau of Consumer Financial Protection
On April 25, 2014, the Bureau of Consumer Financial Protection (Bureau) published in the Federal Register a Notice of Proposed Rulemaking proposing amendments to certain requirements set forth in subpart B of Regulation E related to remittance transfers (Remittance Proposal). The Remittance Proposal allowed a 30-day comment period that will end on May 27, 2014. To allow interested persons additional time to consider and submit their responses, the Bureau has determined that an extension of the comment period until June 6, 2014, is appropriate.
Amendment to the Annual Privacy Notice Requirement Under the Gramm-Leach-Bliley Act (Regulation P)
Document Number: 2014-10713
Type: Proposed Rule
Date: 2014-05-13
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is proposing to amend Regulation P, which among other things requires that financial institutions provide an annual disclosure of their privacy policies to their customers. The amendment would create an alternative delivery method for this annual disclosure, which financial institutions would be able to use under certain circumstances.
Amendments to the 2013 Mortgage Rules Under the Truth in Lending Act (Regulation Z)
Document Number: 2014-10207
Type: Proposed Rule
Date: 2014-05-06
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) proposes amendments to certain mortgage rules issued in 2013. The proposed rule would provide an alternative small servicer definition for nonprofit entities that meet certain requirements, amend the existing exemption from the ability-to-repay rule for nonprofit entities that meet certain requirements, and provide a limited cure mechanism for the points and fees limit that applies to qualified mortgages.