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

Results 601 - 650 of 809
Electronic Fund Transfers(Regulation E)
Document Number: 2013-25754
Type: Rule
Date: 2013-11-05
Agency: Bureau of Consumer Financial Protection
On September 26, 2012, the Bureau of Consumer Financial Protection (Bureau) issued a safe harbor list of countries that qualify for an exception in subpart B of Regulation E, which implements the Electronic Fund Transfer Act, and published this list on its Web site. The Bureau is now publishing the current list, which is unchanged from the prior release, in the Federal Register. The Bureau recognizes that the list may change, and it intends to revise the list periodically.
Policy To Encourage Trial Disclosure Programs; Information Collection
Document Number: 2013-25580
Type: Rule
Date: 2013-10-29
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing its Policy to Encourage Trial Disclosure Programs (Policy), which is intended to carry out the Bureau's authority under of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act).
Proposed Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies and Request for Comment
Document Number: 2013-25142
Type: Notice
Date: 2013-10-25
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, National Credit Union Administration, Securities and Exchange Commission, 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, Board, FDIC, NCUA, CFPB, and SEC (each an ``Agency'' and collectively, the ``Agencies'') are proposing joint standards for assessing the diversity policies and practices of the entities they regulate. Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (``Dodd-Frank Act'') \1\ directed the establishment of an Office of Minority and Women Inclusion (``OMWI Office'') in each Agency. Each OMWI Office is headed by a Director and is responsible for all Agency matters relating to diversity in management, employment, and business activities. Section 342(b)(2)(C) directs each Agency's OMWI Director to develop standards for assessing the diversity policies and practices of entities regulated by that Agency. This proposed interagency policy statement (``Statement'') identifies these proposed standards and requests comment on all aspects of this Statement.
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: 2013-24521
Type: Rule
Date: 2013-10-23
Agency: Bureau of Consumer Financial Protection
This rule amends provisions in Regulation Z and final rules issued by the Bureau of Consumer Financial Protection (Bureau) in 2013, which, among other things, required that consumers receive counseling before obtaining high-cost mortgages and that servicers provide periodic account statements and rate adjustment notices to mortgage borrowers, as well as engage in early intervention when borrowers become delinquent. The amendments clarify the specific disclosures that must be provided before counseling for high-cost mortgages can occur, and proper compliance regarding servicing requirements when a consumer is in bankruptcy or sends a cease communication request under the Fair Debt Collection Practices Act. The rule also makes technical corrections to provisions of other rules. The Bureau requests public comment on these changes.
Amendments to the 2013 Mortgage Rules Under the Equal Credit Opportunity Act (Regulation B), Real Estate Settlement Procedures Act (Regulation X), and the Truth in Lending Act (Regulation Z)
Document Number: 2013-22752
Type: Rule
Date: 2013-10-01
Agency: Bureau of Consumer Financial Protection
This final rule amends some of the final mortgage rules issued by the Bureau of Consumer Financial Protection (Bureau) in January 2013. These amendments focus primarily on loss mitigation procedures under Regulation X's servicing provisions, amounts counted as loan originator compensation to retailers of manufactured homes and their employees for purposes of applying points and fees thresholds under the Home Ownership and Equity Protection Act and the Ability-to-Repay rules in Regulation Z, exemptions available to creditors that operate predominantly in ``rural or underserved'' areas for various purposes under the mortgage regulations, application of the loan originator compensation rules to bank tellers and similar staff, and the prohibition on creditor-financed credit insurance. The Bureau also is adjusting the effective dates for certain provisions of the loan originator compensation rules. In addition, the Bureau is adopting technical and wording changes for clarification purposes to Regulations B, X, and Z.
Rules of Practice for Issuance of Temporary Cease-and-Desist Orders
Document Number: 2013-23229
Type: Rule
Date: 2013-09-26
Agency: Bureau of Consumer Financial Protection
The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the Bureau of Consumer Financial Protection (Bureau) to prescribe rules establishing procedures for the conduct of adjudication proceedings. On June 29, 2012, the Bureau published the final Rules of Practice for Adjudication Proceedings. That final rule, however, does not apply to the issuance of a temporary cease-and-desist order (TCDO) pursuant to section 1053(c) of the Dodd-Frank Act. The Bureau now issues this interim final rule governing such issuance and seeks public comments.
Privacy Act of 1974, as Amended
Document Number: 2013-21488
Type: Notice
Date: 2013-09-05
Agency: Bureau of Consumer Financial Protection
In accordance with the Privacy Act of 1974, as amended, the Bureau of Consumer Financial Protection, hereinto referred to as the Consumer Financial Protection Bureau (CFPB or Bureau), gives notice of the establishment of a revised Privacy Act System of Records.
Notice of Ratification
Document Number: 2013-21275
Type: Notice
Date: 2013-08-30
Agency: Bureau of Consumer Financial Protection
Notice of Availability of the Determination for Eligibility for Listing on the Historic Register
Document Number: 2013-20897
Type: Notice
Date: 2013-08-29
Agency: Bureau of Consumer Financial Protection
The Consumer Financial Protection Bureau (CFPB) is issuing this notice to advise the public that, on July 24, 2013, the CFPB prepared and submitted a recommendation to the State Historical Preservation Office for eligibility for listing on the historic register for the building located at 1700 G Street, NW., Washington, DC. The building is currently used as the headquarters for the Consumer Financial Protection Bureau (CFPB). Originally built in 1976, the building has three below ground levels that extend beneath a large public courtyard (two of which include secured parking) and seven floors above ground with the highest reserved for mechanical equipment. Storefront retail is located at the ground level. The CFPB and its consultants prepared the final Determination for Eligibility for Listing on the Historic Register, dated July 24, 2013, in accordance with the provisions of Sec. 106 of the National Historic Preservation Act.,
Proposed Collection; Comment Request
Document Number: 2013-20650
Type: Notice
Date: 2013-08-23
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau), as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13. Currently, the Bureau is soliciting comments concerning proposed information collection requirements relating to the Equal Access to Justice Act.
Privacy Act of 1974, as Amended
Document Number: 2013-19971
Type: Notice
Date: 2013-08-16
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.
Electronic Fund Transfers (Regulation E); Correction
Document Number: 2013-19503
Type: Rule
Date: 2013-08-14
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is making a clarificatory amendment and technical correction to a final rule and official interpretation (the 2013 Final Rule) that appeared in the Federal Register on Wednesday, May 22, 2013. 78 FR 30662. The 2013 Final Rule modifies the final rules issued by the Bureau in February, July, and August 2012 (collectively the 2012 Final Rule) that implement section 1073 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) regarding remittance transfers. This rule makes a clarificatory amendment and a technical correction to the 2013 Final Rule, which amends Regulation E.
Agency Information Collection Activities: Comment Request
Document Number: 2013-19010
Type: Notice
Date: 2013-08-08
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, ``Development of Metrics to Measure Financial Well-being of Working-age and Older American Consumers.''
Appraisals for Higher-Priced Mortgage Loans-Supplemental Proposal
Document Number: 2013-17086
Type: Proposed Rule
Date: 2013-08-08
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 Board, Bureau, FDIC, FHFA, NCUA, and OCC (collectively, the Agencies) are proposing to amend Regulation Z, which implements the Truth in Lending Act (TILA), and the official interpretation to the regulation. This proposal relates to a final rule issued by the Agencies on January 18, 2013 (2013 Interagency Appraisals Final Rule or Final Rule), which goes into effect on January 18, 2014. The Final Rule implements a provision added to TILA by the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act or Act) requiring appraisals for ``higher-risk mortgages.'' For certain mortgages with an annual percentage rate that exceeds the average prime offer rate by a specified percentage, the Final Rule requires creditors to obtain an appraisal or appraisals meeting certain specified standards, provide applicants with a notification regarding the use of the appraisals, and give applicants a copy of the written appraisals used. The Agencies are proposing amendments to the Final Rule implementing these requirements; specifically, the Agencies are proposing exemptions from the rules for: transactions secured by existing manufactured homes and not land; certain ``streamlined'' refinancings; and transactions of $25,000 or less.
Privacy Act of 1974, as Amended
Document Number: 2013-18848
Type: Notice
Date: 2013-08-05
Agency: Bureau of Consumer Financial Protection
In accordance with the Privacy Act of 1974, as amended, the Bureau of Consumer Financial Protection, hereinto referred to as the Consumer Financial Protection Bureau (CFPB or Bureau), gives notice of the establishment of a revised Privacy Act System of Records.
Claims Under the Federal Tort Claims Act for Loss of or Damage to Property or for Personal Injury or Death
Document Number: 2013-18844
Type: Rule
Date: 2013-08-05
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection is adopting a procedural rule that sets forth the procedures for filing, processing, and paying awards based on administrative claims under the Federal Tort Claims Act for money damages for loss of or injury to property, or for personal injury or death, caused by the negligent or wrongful act or omission of any employee of the Bureau while acting within the scope of the employee's office or employment.
Agency Information Collection Activities: Comment Request
Document Number: 2013-18484
Type: Notice
Date: 2013-08-01
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, ``Evaluations of Financial Capability Programs for Economically-Vulnerable Consumers: Two Randomized Evaluations.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2013-18512
Type: Notice
Date: 2013-07-31
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing to renew the Office of Management and Budget (OMB) approval for an existing information collection, titled, ``Truth in Savings (Regulation DD) 12 CFR 1030.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2013-17852
Type: Notice
Date: 2013-07-25
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 clearance titled, ``Generic Clearance for Consumer Complaint and Information Collection System (Testing and Feedback).''
Agency Information Collection Activities: Comment Request
Document Number: 2013-17851
Type: Notice
Date: 2013-07-25
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, Fair Credit Reporting Act (Regulation V) 12 CFR 1022.
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: 2013-16962
Type: Rule
Date: 2013-07-24
Agency: Bureau of Consumer Financial Protection
This rule amends some of the final mortgage rules issued by the Bureau of Consumer Financial Protection (Bureau) in January of 2013. These amendments clarify, correct, or amend provisions on the relation to State law of Regulation X's servicing provisions; implementation dates for adjustable-rate mortgage servicing; exclusions from requirements on higher-priced mortgage loans; the small servicer exemption from certain servicing rules; the use of government-sponsored enterprise and Federal agency purchase, guarantee or insurance eligibility for determining qualified mortgage status; and the determination of debt and income for purposes of originating qualified mortgages.
Semiannual Regulatory Agenda
Document Number: 2013-17076
Type: Unknown
Date: 2013-07-23
Agency: Consumer Product Safety Commission, Agencies and Commissions, Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (CFPB) is publishing this agenda as part of the Spring 2013 Unified Agenda of Federal Regulatory and Deregulatory Actions. The CFPB reasonably anticipates having the regulatory matters identified below under consideration during the period from May 1, 2013, to May 1, 2014. The next agenda will be published in the fall of 2013 and will update this agenda through the fall of 2014. Publication of this agenda is in accordance with the Regulatory Flexibility Act (5 U.S.C. 601 et seq.).
Semiannual Regulatory Agenda
Document Number: 2013-17074
Type: Unknown
Date: 2013-07-23
Agency: Department of Defense, General Services Administration, Agencies and Commissions, National Aeronautics and Space Administration, Bureau of Consumer Financial Protection
This agenda provides summary descriptions of regulations being developed by the Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council in compliance with Executive Order 12866 ``Regulatory Planning and Review.'' This agenda is being published to allow interested persons an opportunity to participate in the rulemaking process. The Regulatory Secretariat Division has attempted to list all regulations pending at the time of publication, except for minor and routine or repetitive actions; however, unanticipated requirements may result in the issuance of regulations that are not included in this agenda. There is no legal significance to the omission of an item from this listing. Also, the dates shown for the steps of each action are estimated and are not commitments to act on or by the dates shown. Published proposed rules may be reviewed in their entirety at the Government's rulemaking Web site at http://www.regulations.gov.
Procedures for Bureau Debt Collection
Document Number: 2013-16470
Type: Rule
Date: 2013-07-11
Agency: Bureau of Consumer Financial Protection
This rule implements the Bureau of Consumer Financial Protection's debt collection regulations. These regulations conform to requirements set forth in laws applicable to the collection of nontax debts owed to the United States.
Procedural Rule To Establish Supervisory Authority Over Certain Nonbank Covered Persons Based on Risk Determination
Document Number: 2013-15485
Type: Rule
Date: 2013-07-03
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is publishing a final rule that establishes procedures to implement requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. That statutory provision authorizes the Bureau to supervise a nonbank covered person when the Bureau has reasonable cause to determine, by order, after notice to the person and a reasonable opportunity to respond, that such person is engaging, or has engaged, in conduct that poses risks to consumers with regard to the offering or provision of consumer financial products or services. The Bureau is authorized to, among other things, require reports from, and conduct examinations of, nonbank covered persons subject to supervision under the Act.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2013-15853
Type: Notice
Date: 2013-07-02
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, ``Program Evaluation of Financial Empowerment Training Programs.''
Amendments to the 2013 Mortgage Rules Under the Equal Credit Opportunity Act (Regulation B), Real Estate Settlement Procedures Act (Regulation X), and the Truth in Lending Act (Regulation Z)
Document Number: 2013-15466
Type: Proposed Rule
Date: 2013-07-02
Agency: Bureau of Consumer Financial Protection
This rule proposes amendments to certain mortgage rules issued by the Bureau of Consumer Financial Protection (Bureau) in January 2013. These proposed amendments focus primarily on clarifying, revising, or amending provisions on loss mitigation procedures under Regulation X's servicing provisions, amounts counted as loan originator compensation to retailers of manufactured homes and their employees for purposes of applying points and fees thresholds under the Home Ownership and Equity Protection Act and the qualified mortgage rules in Regulation Z, exemptions available to creditors that operate predominantly in ``rural or underserved'' areas for various purposes under the mortgage regulations, application of the loan originator compensation rules to bank tellers and similar staff, and the prohibition on creditor-financed credit insurance. The Bureau also is proposing to adjust the effective dates for certain provisions of the loan originator compensation rules. In addition, the Bureau is proposing technical and wording changes for clarification purposes to Regulations B, X, and Z.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2013-15311
Type: Notice
Date: 2013-06-26
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, Report of Terms of Credit Card Plans (Form FR 2572).
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2013-14488
Type: Notice
Date: 2013-06-18
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing a new information collection, titled, ``Policy to Encourage Trial Disclosure Programs: Information Collection.''
Ability-to-Repay and Qualified Mortgage Standards Under the Truth in Lending Act (Regulation Z)
Document Number: 2013-13173
Type: Rule
Date: 2013-06-12
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is amending Regulation Z, which implements the Truth in Lending Act (TILA). Regulation Z generally prohibits a creditor from making a mortgage loan unless the creditor determines that the consumer will have the ability to repay the loan. The final rule provides an exemption to these requirements for creditors with certain designations, loans pursuant to certain programs, certain nonprofit creditors, and mortgage loans made in connection with certain Federal emergency economic stabilization programs. The final rule also provides an additional definition of a qualified mortgage for certain loans made and held in portfolio by small creditors and a temporary definition of a qualified mortgage for balloon loans. Finally, the final rule modifies the requirements regarding the inclusion of loan originator compensation in the points and fees calculation.
Privacy Act of 1974, as Amended
Document Number: 2013-13744
Type: Notice
Date: 2013-06-11
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.
Agency Information Collection Activities; Comment Request
Document Number: 2013-13490
Type: Notice
Date: 2013-06-07
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.''
Loan Originator Compensation Requirements Under the Truth in Lending Act (Regulation Z); Prohibition on Financing Credit Insurance Premiums; Delay of Effective Date
Document Number: 2013-13023
Type: Rule
Date: 2013-05-31
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing a final rule delaying the June 1, 2013, effective date of a prohibition on creditors financing credit insurance premiums in connection with certain consumer credit transactions secured by a dwelling. The prohibition was adopted in the Loan Originator Compensation Requirements under the Truth in Lending Act (Regulation Z) Final Rule, issued on January 20, 2013, and published in the Federal Register on February 15, 2013. The Bureau is delaying the effective date until January 10, 2014, to permit the Bureau to clarify, before the provision takes effect, its applicability to transactions other than those in which a lump-sum premium is added to the loan amount at closing. The new effective date will be January 10, 2014, but the Bureau will solicit comment on the appropriate effective date at the same time that it seeks comment on clarifications. (The Bureau is not contemplating extending the effective date beyond January 10, 2014.)
Amendments to the 2013 Escrows Final Rule under the Truth in Lending Act (Regulation Z)
Document Number: 2013-12125
Type: Rule
Date: 2013-05-23
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing clarifying and technical amendments to a final rule issued by the Bureau on January 10, 2013, which, among other things, lengthens the time for which a mandatory escrow account established for a higher- priced mortgage loan (HPML) must be maintained. The rule also established an exemption from the escrow requirement for certain creditors that operate predominantly in ``rural'' or ``underserved'' areas. The amendments clarify the determination method for the ``rural'' and ``underserved'' designations and keep in place certain existing protections for HPMLs until other similar provisions take effect in January 2014.
Electronic Fund Transfers (Regulation E)
Document Number: 2013-10604
Type: Rule
Date: 2013-05-22
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is amending its regulation which implements the Electronic Fund Transfer Act, and the official interpretation to the regulation. This final rule (the 2013 Final Rule) modifies the final rules issued by the Bureau in February, July, and August 2012 (collectively the 2012 Final Rule) that implement section 1073 of the Dodd-Frank Wall Street Reform and Consumer Protection Act regarding remittance transfers. The amendments address three specific issues. First, the 2013 Final Rule modifies the 2012 Final Rule to make optional, in certain circumstances, the requirement to disclose fees imposed by a designated recipient's institution. Second and relatedly, the 2013 Final Rule also makes optional the requirement to disclose taxes collected by a person other than the remittance transfer provider. In place of these two former requirements, the 2013 Final Rule requires disclaimers to be added to the rule's disclosures indicating that the recipient may receive less than the disclosed total due to the fees and taxes for which disclosure is now optional. Finally, the 2013 Final Rule revises the error resolution provisions that apply when a remittance transfer is not delivered to a designated recipient because the sender provided incorrect or insufficient information, and, in particular, when a sender provides an incorrect account number or recipient institution identifier that results in the transferred funds being deposited in the wrong account.
Agency Information Collection Activities; Comment Request
Document Number: 2013-11439
Type: Notice
Date: 2013-05-14
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing to renew the Office and Management and Budget (OMB) approval for an existing information collection titled, Truth in Savings (Regulation DD) 12 CFR 1030.
Loan Originator Compensation Requirements Under the Truth In Lending Act (Regulation Z); Prohibition on Financing Credit Insurance Premiums; Delay of Effective Date
Document Number: 2013-11223
Type: Proposed Rule
Date: 2013-05-10
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is proposing to temporarily delay the June 1, 2013, effective date of a prohibition on creditors financing credit insurance premiums in connection with certain consumer credit transactions secured by a dwelling. The prohibition was adopted in the Loan Originator Compensation Requirements under the Truth in Lending Act (Regulation Z) Final Rule, issued on January 20, 2013. Temporary delay of the effective date would permit the Bureau to clarify, before the provision takes effect, its applicability to transactions other than those in which a lump-sum premium is added to the loan amount at closing.
Consumer Financial Civil Penalty Fund
Document Number: 2013-10320
Type: Rule
Date: 2013-05-07
Agency: Bureau of Consumer Financial Protection
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act or Act) establishes a ``Consumer Financial Civil Penalty Fund'' (Civil Penalty Fund) into which the Consumer Financial Protection Bureau (Bureau) must deposit any civil penalty it obtains against any person in any judicial or administrative action under Federal consumer financial laws. Under the Act, funds in the Civil Penalty Fund may be used for payments to the victims of activities for which civil penalties have been imposed under Federal consumer financial laws. In addition, to the extent that such victims cannot be located or such payments are otherwise not practicable, the Bureau may use funds in the Civil Penalty Fund for the purpose of consumer education and financial literacy programs. This rule implements the relevant statutory provisions by articulating the Bureau's interpretation of what kinds of payments to victims are appropriate and by establishing procedures for allocating funds for such payments to victims and for consumer education and financial literacy programs.
Consumer Financial Civil Penalty Fund
Document Number: 2013-10318
Type: Proposed Rule
Date: 2013-05-07
Agency: Bureau of Consumer Financial Protection
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act or Act) establishes a ``Consumer Financial Civil Penalty Fund'' (Civil Penalty Fund) into which the Consumer Financial Protection Bureau (Bureau) must deposit any civil penalty it obtains against any person in any judicial or administrative action under Federal consumer financial laws. Under the Act, funds in the Civil Penalty Fund may be used for payments to the victims of activities for which civil penalties have been imposed under Federal consumer financial laws. In addition, to the extent that such victims cannot be located or such payments are otherwise not practicable, the Bureau may use funds in the Civil Penalty Fund for the purpose of consumer education and financial literacy programs. This proposal is related to a final rule published elsewhere in today's Federal Register. That final rule implements the statutory Civil Penalty Fund provisions by articulating the Bureau's interpretation of what kinds of payments to victims are appropriate and by establishing procedures for allocating funds for such payments to victims and for consumer education and financial literacy programs. This notice of proposed rulemaking seeks comments on possible revisions, adjustments, or refinements to the rule.
Truth in Lending (Regulation Z)
Document Number: 2013-10429
Type: Rule
Date: 2013-05-03
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) issues this final rule to amend Regulation Z, which implements the Truth in Lending Act (TILA), and the official interpretations to the regulation. Regulation Z generally prohibits a card issuer from opening a credit card account for a consumer, or increasing the credit limit applicable to a credit card account, unless the card issuer considers the consumer's ability to make the required payments under the terms of such account. Regulation Z currently requires that issuers consider the consumer's independent ability to pay, regardless of the consumer's age; in contrast, TILA expressly requires consideration of an independent ability to pay only for applicants who are under the age of 21. The final rule amends Regulation Z to remove the requirement that issuers consider the consumer's independent ability to pay for applicants who are 21 or older, and permits issuers to consider income and assets to which such consumers have a reasonable expectation of access.
Amendments to the 2013 Mortgage Rules Under the Real Estate Settlement Procedure Act (Regulation X) and the Truth in Lending Act (Regulation Z)
Document Number: 2013-09750
Type: Proposed Rule
Date: 2013-05-02
Agency: Bureau of Consumer Financial Protection
This rule proposes amendments to some of the final mortgage rules issued by the Bureau of Consumer Financial Protection (Bureau) in January of 2013. These amendments clarify or correct provisions on the relation to State law of Regulation X's servicing provisions; the small servicer exemption from certain servicing rules; the use of government- sponsored enterprise and Federal agency purchase, guarantee or insurance eligibility for determining qualified mortgage status; and the determination of debt and income for purposes of originating qualified mortgages.
Privacy Act of 1974, as Amended
Document Number: 2013-10206
Type: Notice
Date: 2013-05-01
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 the Bureau), gives notice of the establishment of a Privacy Act System of Records.
Privacy Act of 1974, as Amended
Document Number: 2013-10204
Type: Notice
Date: 2013-05-01
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 revised Privacy Act System of Records.
Electronic Fund Transfers; Determination of Effect on State Laws (Maine and Tennessee)
Document Number: 2013-09751
Type: Notice
Date: 2013-04-25
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is publishing a final determination as to whether certain laws of Maine and Tennessee relating to unclaimed gift cards are inconsistent with and preempted by the Electronic Fund Transfer Act and Regulation E. The Bureau has determined that it has no basis for concluding that the provisions at issue in Maine's unclaimed property law relating to gift cards are inconsistent with, or therefore preempted by, Federal law. As discussed below, however, the Bureau has determined that one provision in Tennessee's unclaimed property law relating to gift cards is inconsistent with, and therefore preempted by, Federal law.
Amendments to the 2013 Escrows Final Rule Under the Truth in Lending Act (Regulation Z)
Document Number: 2013-09058
Type: Proposed Rule
Date: 2013-04-18
Agency: Bureau of Consumer Financial Protection
This rule proposes clarifying and technical amendments to a final rule issued by the Bureau of Consumer Financial Protection (Bureau) on January 10, 2013, which, among other things, lengthens the time for which a mandatory escrow account established for a higher- priced mortgage loan (HPML) must be maintained. The rule also established an exemption from the escrow requirement for certain creditors that operate predominantly in ``rural'' or ``underserved'' areas. The amendments clarify the determination method for the ``rural'' and ``underserved'' designations and keep in place certain existing protections for HPMLs until other similar provisions take effect in January 2014.
Disclosure of Consumer Complaint Data
Document Number: 2013-07569
Type: Rule
Date: 2013-04-10
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is issuing a final policy statement (Policy Statement) to provide guidance on how the Bureau plans to exercise its discretion to publicly disclose certain consumer complaint data that do not include personally identifiable information. The Bureau receives complaints from consumers under the terms of Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The Policy Statement also identifies additional ways that the Bureau may disclose consumer complaint data but as to which it will conduct further study before finalizing its position.
Agency Information Collection Activities: Comment Request
Document Number: 2013-08116
Type: Notice
Date: 2013-04-08
Agency: Bureau of Consumer Financial Protection
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing to renew the approval for an existing information collection, titled, Report of Terms of Credit Card Plans.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2013-08115
Type: Notice
Date: 2013-04-08
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 generic clearance titled, Generic Clearance for Qualitative Consumer Education and Engagement Information Collections.
Truth in Lending (Regulation Z)
Document Number: 2013-07066
Type: Rule
Date: 2013-03-28
Agency: Bureau of Consumer Financial Protection
The Bureau of Consumer Financial Protection (Bureau) is amending Regulation Z, which implements the Truth in Lending Act, and the Official Interpretations of the regulation, which interpret the requirements of Regulation Z. Regulation Z generally limits the total amount of fees that a credit card issuer may require a consumer to pay with respect to an account to 25 percent of the credit limit in effect when the account is opened. Regulation Z previously stated that this limitation applies prior to account opening and during the first year after account opening. This final rule amends Regulation Z to apply the limitation only during the first year after account opening.