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CFPB | RIN: 3170-AA06 | Publication ID: Spring 2016 |
Title: Restatement of Federal Consumer Financial Law Regulations | |
Abstract:
Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) transferred rulemaking authority for 14 consumer financial protection laws from 7 transferor agencies to the CFPB as of July 21, 2011. Pursuant to that authority, the CFPB has recodified existing regulations implementing certain portions of the Fair Credit Reporting Act, certain portions of the Gramm-Leach-Bliley Act, the Secure and Fair Enforcement for Mortgage Licensing Act, the Equal Credit Opportunity Act, the Fair Debt Collection Practices Act, the Truth in Savings Act, the Interstate Land Sales Full Disclosure Act, the Consumer Leasing Act, certain portions of the Electronic Fund Transfer Act, subsections 43(b)-(f) of the Federal Deposit Insurance Act, the Home Mortgage Disclosure Act, the Real Estate Settlement Procedures Act, the Truth in Lending Act, and section 626 of the Omnibus Appropriations Act of 2009. The recodified regulations, which were issued as a series of interim final rules in chapter X of title 12 of the CFR, made no substantive changes to the regulations of the agencies from which the rulemaking authority transferred, but made nomenclature, technical, and other conforming changes required by the Dodd-Frank Act and consolidated multiple versions of the regulations under those statutes where rule writing authority previously had been split across multiple agencies. Changes included, for example, revisions to references to the transferor agency, internal cross-references, addresses for filing applications and notices, and references to the scope of the CFPB's authority as amended by the Dodd-Frank Act. The CFPB expects to finalize the restated rules in April 2016. |
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Agency: Consumer Financial Protection Bureau(CFPB) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 1002 12 CFR 1003 12 CFR 1005 to 1016 12 CFR 1022 12 CFR 1024 12 CFR 1026 12 CFR 1030 | |
Legal Authority: 12 U.S.C. 5581 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Kristen Phinnessee Office of Regulations Consumer Financial Protection Bureau Washington, DC 20552 Phone:202 435-7700 |