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CFPB

RIN: 3170-AA24

Publication ID: Fall 2013

Title: Procedural Rule To Establish Supervisory Authority Over Certain Nonbank Covered Persons Based on Risk Determination
Abstract: Under section 1024 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), the CFPB is authorized to supervise certain nonbank covered persons for compliance with Federal consumer financial laws and for other purposes. Under section 1024(a)(1)(C) of the Dodd-Frank Act, the CFPB may bring under its supervisory authority any nonbank covered person who the CFPB has reasonable cause to determine is engaging, or has engaged, in conduct that poses risks to consumers. The CFPB published a final rule that establishes procedures for bringing within the scope of the CFPB's nonbank supervision program certain covered persons whose conduct the CFPB has reasonable cause to determine poses risks to consumers.
Agency: Consumer Financial Protection Bureau(CFPB)	Priority: Info./Admin./Other
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Completed Actions
Major: No	Unfunded Mandates: No
CFR Citation: 12 CFR 1091
Legal Authority: 12 USC 5514(a)(1)(C) 12 USC 5512(b)(1) 12 USC 5514(b)(7)(A)

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	05/25/2012	77 FR 31226
NPRM Comment Period End	07/24/2012
Final Rule	07/03/2013	78 FR 40351

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: Christopher Young Office of Supervision Policy Consumer Financial Protection Bureau Washington, DC 20552 Phone:202 435-7555