BUREAU OF CONSUMER FINANCIAL PROTECTION
12 CFR CH. X
Semiannual Regulatory Agenda
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Semiannual regulatory agenda.
SUMMARY: The Bureau of Consumer Financial Protection (CFPB) is publishing this agenda as part of the Fall 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 October 1, 2012 to October 1, 2013. The next agenda will be published in spring 2013 and will update this agenda through October 1, 2013. Publication of this agenda is in accordance with the Regulatory Flexibility Act (5 U.S.C. 601 et seq.).
DATES: This information is current as of November 30, 2012.
ADDRESS: Bureau of Consumer Financial Protection, 1700 G Street NW, Washington, DC 20552.
FOR FURTHER INFORMATION CONTACT: A staff contact is included for each regulatory item listed herein.
SUPPLEMENTARY INFORMATION: The CFPB is publishing its fall 2012 agenda as part of the Fall 2012 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the Office of Management and Budget under Executive Order 12866. The CFPB's participation in the Unified Agenda is voluntary. The complete Unified Agenda will be available to the public at the following web site: http://www.reginfo.gov.
Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. 111-203, 124 Stat. 1376) (Dodd-Frank Act), the CFPB has rulemaking, supervisory, enforcement, and other authorities relating to consumer financial products and services. These authorities include the ability to issue regulations under more than a dozen Federal consumer financial laws, which transferred to the CFPB from seven Federal agencies on July 21, 2011. The CFPB is working on a wide range of initiatives to address issues in markets for consumer financial products and services that are not reflected in this notice because the Unified Agenda is limited to rulemaking activities.
The CFPB reasonably anticipates having the regulatory matters identified below under consideration during the period from October 1, 2012, to October 1, 2013.[1] These primarily include various rulemakings mandated by the Dodd-Frank Act, such as several mortgage-related rulemakings and rulemakings to implement the CFPB's supervisory program for nondepository covered persons by, among other things, defining "larger participants" in certain consumer financial product and service markets.
As the CFPB completes several mortgage-related rulemakings in January 2013, it is continuing to assess the need and resources available for additional rulemakings. For instance, the Dodd-Frank Act mandates rulemakings to implement amendments to the Home Mortgage Disclosure Act, and to the Equal Credit Opportunity Act to create a data reporting regime concerning small, women-owned, or minority-owned business lending. The CFPB has also inherited proposed rules concerning mortgage loans, home equity lines of credit, and other topics from other agencies as part of the transfer of authorities under the Dodd-Frank Act.
As discussed in more detail in the CFPB's Fall 2012 Statement of Regulatory Priorities, the CFPB in the last year has also issued reports, Requests for Information, and an Advance Notice of Proposed Rulemaking on a variety of topics that may be suitable for rulemaking. For instance, the Bureau has sought extensive comment on ways to reduce regulatory burden through the streamlining of regulations that the Bureau inherited from other agencies under the Dodd-Frank Act. It has also conducted research and outreach on a variety of consumer financial products and services, including payday lending and deposit advance loans, bank overdraft programs, private student loans, prepaid cards, and reverse mortgages. The Bureau expects to update its agenda in spring 2013 to reflect the results of this prioritization and planning process.
Dated: November 30, 2012.
NAME: Meredith Fuchs,
General Counsel, Bureau of Consumer Financial Protection.
[1] The listing does not include certain routine or administrative matters. Further, certain of the information fields for the listing are not applicable to independent regulatory agencies, including the CFPB, and, accordingly, the CFPB has indicated responses of "no" for such fields.