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CFPB RIN: 3170-AA07 Publication ID: Spring 2017 
Title: Supervision of Larger Participants in Markets for Personal Loans 
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)(B) of the Dodd-Frank Act, for certain markets, the supervision program generally will apply only to "larger participant[s]” of these markets as defined by Bureau rulemaking.  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.  In particular, the Bureau expects to conduct a rulemaking to define larger participants in the market for personal loans including markets for consumer installment loans and vehicle title loans for purposes of supervision.  The Bureau is also considering whether rules to require registration of these or other non-depository lenders would facilitate supervision, as has been suggested to the Bureau by both consumer advocates and industry groups.

 

 
Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
EO 13771 Designation: uncollected 
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)    12 U.S.C. 5512(c)(4)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Prerule Activities  06/00/2017 
NPRM  09/00/2017 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 3170-AA00, Related to 3170-AA08 
Agency Contact:
Shiri Wolf
Office of Regulations
Consumer Financial Protection Bureau
Phone:202 435-7700