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CFPB RIN: 3170-AA35 Publication ID: Spring 2014 
Title: Defining Larger Participants of the Student Loan Servicing Market 
Abstract: On December 6, 2013, the CFPB published a final rule that 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 student loan servicing. The CFPB issued this 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 CFPB 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 CFPB has the authority to supervise nonbank "larger participant[s]" of markets for other consumer financial products or services, as the CFPB defines by rule. The final rule identifies a market for student loan servicing and defines "larger participants" of this market that are subject to the CFPB's supervisory authority effective March 1, 2014. 
Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 1090.106   
Legal Authority: 12 USC 5514(a)(1)(B)    12 USC 5514(a)(2)    12 USC 5512(b)(1)    12 USC 5514(b)(7)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  03/28/2013  78 FR 18902   
NPRM Comment Period End  05/28/2013 
Final Rule  12/06/2013  78 FR 73383   
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:
Amanda Quester
Office of Regulations
Consumer Financial Protection Bureau
Washington, DC 20552
Phone:202 435-7700