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CFPB | RIN: 3170-AA47 | Publication ID: Spring 2016 |
Title: Defining Larger Participants in Certain Consumer Financial Product and Service Markets | |
Abstract:
Under the Dodd-Frank Act, the CFPB is considering issuing additional proposals to implement its supervisory program for nonbank covered persons. Under section 1024 of the 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)(B) of the Dodd-Frank Act, for certain markets, the supervision program generally will apply only to "larger participant[s]” of these markets. The Bureau has defined larger participants in several markets and is considering issuing additional regulations to define further the scope of the CFPB's nonbank supervision program. The CFPB also monitors market trends and developments, which may cause the Bureau to propose amendments on occasion to existing rules defining "larger participants” of these markets.
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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: Long-Term Actions |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: Not Yet Determined (To search for a specific CFR, visit the Code of Federal Regulations.) | |
Legal Authority: 12 U.S.C. 5514(a)(1)(B) 12 U.S.C. 5514(a)(2) 12 U.S.C. 5512(b)(1) 12 U.S.C. 5514(b)(7) |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Lisa Cole Office of Regulations Consumer Financial Protection Bureau Phone:202 435-7700 |