[Federal Register Volume 76, Number 147 (Monday, August 1, 2011)]
[Notices]
[Pages 45761-45763]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-19427]


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BUREAU OF CONSUMER FINANCIAL PROTECTION


Privacy Act of 1974, as Amended

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice of Proposed Privacy Act System of Records.

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SUMMARY: In accordance with the Privacy Act of 1974, as amended, the 
Bureau of Consumer Financial Protection, hereinto referred to as the 
Consumer Financial Protection Bureau (``CFPB'') or the ``Bureau'' gives 
notice of the establishment of a Privacy Act System of Records.

DATES: Comments must be received no later than August 31, 2011. The new 
system of records will be effective September 12, 2011 unless the 
comments received result in a contrary determination.

ADDRESSES: You may submit comments, identified by Docket No. CFPB-2011-
0012, by any of the following methods:
     Electronic: http://www.regulations.gov. Follow the 
instructions for submitting comments.
     Mail or Hand Delivery/Courier in Lieu of Mail: Claire 
Stapleton, Chief Privacy Officer, Consumer Financial Protection Bureau, 
1801 L Street, NW., Washington, DC 20036.
    All submissions must include the agency name and docket number or 
Regulatory Information Number (RIN) for this notice. In general all 
comments received will be posted without change to http://www.regulations.gov. In addition, comments will be available for public 
inspection and copying at 1801 L St., NW., Washington, DC 20036, on 
official business days between the hours of 10 a.m. and 5 p.m. Eastern 
Time. You can make an appointment to inspect comments by telephoning 
(202) 435-7220. All comments, including attachments and other 
supporting materials, will become part of the public record and subject 
to public disclosure. You should submit only information that you wish 
to make available publicly.

FOR FURTHER INFORMATION CONTACT: Claire Stapleton, Chief Privacy 
Officer, Consumer Financial Protection Bureau, 1801 L Street, NW., 
Washington, DC 20036, (202) 435-7220.

SUPPLEMENTARY INFORMATION: The Dodd-Frank Wall Street Reform and 
Consumer Protection Act (``Act''), Public Law 111-203, Title X, 
established the CFPB to administer and enforce federal consumer 
financial protection law. The CFPB will maintain the records covered by 
this notice.
    The new systems of records described in this notice, CFPB.003--Non-
depository Supervision Database will be used to enable the CFPB to 
carry out its responsibilities with respect to individuals related to 
non-depository covered persons subject to the authority of the CFPB, 
including the internal coordination of examinations, supervision 
evaluations and analyses, and enforcement actions. This system will 
also allow the CFPB to coordinate with other financial regulatory 
agencies. A description of the new system of records follows this 
Notice.
    The report of a new system of records has been submitted to the 
Committee on Oversight and Government Reform of the House of 
Representatives, the Committee on Homeland Security and Governmental 
Affairs of the Senate, and the Office of Management and Budget, 
pursuant to Appendix I to OMB Circular A-130, ``Federal Agency 
Responsibilities for Maintaining Records About Individuals,'' dated 
November 30, 2000, and the Privacy Act, 5 U.S.C. 552a(r).
    The system of records entitled, ``CFPB.003--Non-depository 
Supervision Database'' is published in its entirety below.

    Dated: July 27, 2011.
Claire Stapleton,
 Chief Privacy Officer.
CFPB.003

System Name:
    CFPB Non-depository Supervision Database.

System Location:
    Consumer Financial Protection Bureau, 1801 L Street, NW., 
Washington, DC 20036.

Categories of individuals covered by the system:
    Individuals covered by this system are: (1) Individuals who 
themselves are current and former directors, officers, employees, 
agents, shareholders, and independent contractors of non-depository 
covered persons subject to the supervision of the CFPB; (2) Current and 
former consumers who are or have been in the past serviced by non-
depository covered persons subject to the supervision of the CFPB; and 
(3) CFPB employees assigned to supervise non-depository covered 
persons. Information collected regarding consumer products and services 
is subject to the Privacy Act only to the extent that it concerns 
individuals; information pertaining to corporations and other 
organizations is not subject to the Privacy Act.

Categories of records in the system:
    Records in the system may contain information provided by a covered 
person, by individuals who are or have been serviced by a covered 
person, or other governmental authorities, to the CFPB in the exercise 
of the CFPB's responsibilities and used to assess a covered person's 
compliance with various statutory and regulatory obligations. This may 
include: (1) Personally identifiable information from customers of non-
depository covered persons, including without limitation,

[[Page 45762]]

name, social security number, account numbers, address, phone number, 
email address, and date of birth; (2) contact information for officials 
of non-depository covered persons such as members of the Board of 
Directors, Audit Committee Chair, Chief Executive Officer, Chief 
Compliance Officer, Internal Auditor, and Independent Auditor 
including, without limitation, name, address, phone number and email 
address; (3) information about CFPB employees assigned supervision 
tasks for non-depository covered persons; and (4) confidential 
supervision information or personal information, including information 
relating to individuals that is derived from such information or from 
consumer complaints. This information may include, without limitation, 
reports of examinations and associated documentation regarding 
compliance with consumer financial law; documents assessing the current 
and past safety and soundness/risk management of a covered person or 
service provider; reports of consumer complaints; and correspondence 
relating to any category of information discussed above and actions 
taken to remedy deficiencies in these areas.
    Information contained in the Non-depository Supervision Database is 
collected from a variety of sources, including, without limitation: (1) 
The individuals who own, control, or work for covered persons or 
service providers; (2) existing databases maintained by other federal 
and state regulatory associations, law enforcement agencies, and 
related entities; (3) third-parties with relevant information about 
covered persons or service providers; and (4) information generated by 
CFPB employees. Whenever practicable, the CFPB will collect information 
about an individual directly from that individual.

Authority for maintenance of the system:
    Public Law 111-203, Title X, Section 1011, 1012, 1021, 1024, 
codified at 12 U.S.C. 5491, 5492, 5511, 5514.\1\
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    \1\ Section 1066 of the Act grants the Secretary of the Treasury 
interim authority to perform certain functions of the CFPB. Pursuant 
to that authority, Treasury published rules on the Disclosure of 
Records and Information within 12 CFR Chapter X. This SORN is 
published pursuant to those rules and the Privacy Act.
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Purpose(s):
    The information in the system is being collected to enable the CFPB 
to carry out its responsibilities with respect to non-depository 
covered persons and service providers, including the coordination and 
conduct of examinations, supervisory evaluations and analyses, 
enforcement actions, actions in federal court, and coordination with 
other financial regulatory agencies. The information collected in this 
system will also support the conduct of investigations or could be used 
as evidence by the CFPB or other supervisory or law enforcement 
agencies. This may result in criminal referrals, referral to the 
Federal Reserve Office of the Inspector General, or the initiation of 
administrative or federal court actions. This system will track and 
store examination and inspection documents created during the 
performance of the CFPB's statutory duties. This system also will 
enable the CFPB to monitor and coordinate regular examinations and 
required reports, supervisory evaluations and analyses, and enforcement 
actions internally and with other federal and state regulators.

Routine uses of records maintained in the system, including categories 
of users and the purposes of such uses:
    These records may be disclosed, consistent with the CFPB Disclosure 
of Records and Information Rules promulgated in the title of the CFR 
to:
    (1) Appropriate agencies, entities, and persons when: (a) the CFPB 
suspects or has confirmed that the security or confidentiality of 
information in the system of records has been compromised; (b) the CFPB 
has determined that, as a result of the suspected or confirmed 
compromise, there is a risk of harm to economic or property interests, 
identity theft or fraud, or harm to the security or integrity of this 
system or other systems or programs (whether maintained by the CFPB or 
another agency or entity) that rely upon the compromised information; 
and (c) the disclosure made to such agencies, entities, and persons is 
reasonably necessary to assist in connection with the CFPB's efforts to 
respond to the suspected or confirmed compromise and prevent, minimize, 
or remedy such harm;
    (2) Another federal or state agency to: (a) permit a decision as to 
access, amendment or correction of records to be made in consultation 
with or by that agency; or (b) verify the identity of an individual or 
the accuracy of information submitted by an individual who has 
requested access to or amendment or correction of records;
    (3) The Office of the President in response to an inquiry from that 
office made at the request of the subject of a record or a third party 
on that person's behalf;
    (4) Congressional offices in response to an inquiry made at the 
request of the individual to whom the record pertains;
    (5) Contractors, agents, or other authorized individuals performing 
work on a contract, service, cooperative agreement, job, or other 
activity on behalf of the CFPB or Federal Government and who have a 
need to access the information in the performance of their duties or 
activities;
    (6) Any authorized agency or component of the Department of 
Treasury, the Department of Justice, the Federal Reserve System, the 
Federal Deposit Insurance Corporation or other law enforcement 
authorities including disclosure by such authorities:
    (a) To the extent relevant and necessary in connection with 
litigation in proceedings before a court or other adjudicative body, 
where (i) the United States is a party to or has an interest in the 
litigation, including where the agency, or an agency component, or an 
agency official or employee in his or her official capacity, or an 
individual agency official or employee whom the Department of Justice 
or the Bureau has agreed to represent, is or may likely become a party, 
and (ii) the litigation is likely to affect the agency or any component 
thereof; or
    (b) To outside experts or consultants when considered appropriate 
by CFPB staff to assist in the conduct of agency matters;
    (7) The U.S. Department of Justice (``DOJ'') for its use in 
providing legal advice to the CFPB or in representing the CFPB in a 
proceeding before a court, adjudicative body, or other administrative 
body, where the use of such information by the DOJ is deemed by the 
CFPB to be relevant and necessary to the advice or proceeding, and in 
the case of a proceeding, such proceeding names as a party in interest:
    (a) The CFPB;
    (b) Any employee of the CFPB in his or her official capacity;
    (c) Any employee of the CFPB in his or her individual capacity 
where DOJ or the CFPB has agreed to represent the employee; or
    (d) The United States, where the CFPB determines that litigation is 
likely to affect the CFPB or any of its components;
    (8) A grand jury pursuant either to a federal or state grand jury 
subpoena, or to a prosecution request that such record be released for 
the purpose of its introduction to a grand jury, where the subpoena or 
request has been specifically approved by a court. In those cases where 
the Federal Government is not a party to the proceeding, records may be 
disclosed if a subpoena has been signed by a judge;
    (9) A court, magistrate, or administrative tribunal in the course 
of

[[Page 45763]]

an administrative proceeding or judicial proceeding, including 
disclosures to opposing counsel or witnesses (including expert 
witnesses) in the course of discovery or other pre-hearing exchanges of 
information, litigation, or settlement negotiations, where relevant or 
potentially relevant to a proceeding, or in connection with criminal 
law proceedings;
    (10) Appropriate agencies, entities, and persons, including but not 
limited to potential expert witnesses or witnesses in the course of 
investigations, to the extent necessary to secure information relevant 
to the investigation;
    (11) Appropriate federal, state, local, foreign, tribal, or self-
regulatory organizations or agencies responsible for investigating, 
prosecuting, enforcing, implementing, issuing, or carrying out a 
statute, rule, regulation, order, policy, or license if the information 
may be relevant to a potential violation of civil or criminal law, 
rule, regulation, order, policy or license; and
    (12) An entity or person that is the subject of supervision or 
enforcement activities including examinations, investigations, 
administrative proceedings, and litigation, and the attorney or non-
attorney representative for that entity or person.

Policies and practices for storing, retrieving, accessing, retaining, 
and dispensing of records in the system:
Storage:
    Paper and electronic records.

Retrievability:
    Records are retrievable by a variety of fields including, but not 
limited to, the individual's name, complaint/inquiry case number, 
address, account number, transaction number, phone number, date of 
birth, or by some combination thereof.

Safeguards:
    Access to electronic records is restricted to authorized personnel 
who have been issued non-transferable access codes and passwords. Other 
records are maintained in locked file cabinets or rooms with access 
limited to those personnel whose official duties require access.

Retention and disposal:
    The CFPB will maintain computer and paper records indefinitely 
until the National Archives and Records Administration approves the 
CFPB's records disposition schedule.

System manager(s) and address:
    Consumer Financial Protection Bureau, Assistant Director of Nonbank 
Supervision,1801 L Street, NW., Washington, DC 20036.

Notification procedure:
    Individuals seeking notification and access to any record contained 
in this system of records, or seeking to contest its content, may 
inquire in writing in accordance with instructions appearing in Title 
12, Chapter 10 of the CFR, ``Disclosure of Records and Information.'' 
Address such requests to: Chief Privacy Officer, Bureau of Consumer 
Financial Protection, 1801 L St., NW., Washington, DC 20036.

Record access procedures:
    See ``Notification Procedures'' above.

Contesting record procedures:
    See ``Notification Procedures'' above.

Record source categories:
    Information in this system is obtained from covered persons subject 
to the CFPB's authority, and current, former, and prospective consumers 
who are or have been customers or prospective customers of covered 
persons, and others with information relevant to the enforcement of 
federal consumer financial laws.

Exemptions claimed for the system:
    Portions of the records in this system are complied for law 
enforcement purposes and are exempt from disclosure under the CFPB's 
Privacy Act regulations and 5 U.S.C. 552a(k)(2). Federal criminal law 
enforcement investigatory reports maintained as part of this system may 
be the subject of exemptions imposed by the originating agency pursuant 
to 5 U.S.C. 552a(j)(2).

[FR Doc. 2011-19427 Filed 7-29-11; 8:45 am]
BILLING CODE 4810-25-P