[Federal Register Volume 77, Number 192 (Wednesday, October 3, 2012)]
[Notices]
[Pages 60382-60384]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-24311]


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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 November 2, 2012. The 
new system of records will be effective November 13, 2012, unless the 
comments received result in a contrary determination.

ADDRESSES: You may submit comments by any of the following methods:
     Electronic: [email protected].
     Mail/Hand Delivery/Courier: Claire Stapleton, Chief 
Privacy Officer, Consumer Financial Protection Bureau, 1700 G Street 
NW., Washington, DC 20552.
    Comments will be available for public inspection and copying at 
1700 G Street NW., Washington, DC 20552 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, 1700 G Street NW., 
Washington, DC 20552, (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 law. The new system of records described in this notice 
``CFPB.021--CFPB Consumer Education and Engagement Records'' will 
maintain records related to carrying out the functions of the CFPB's 
Division of Consumer Education and Engagement (``CEE''), including 
research relevant to improving consumer financial decision-making and 
well-being. Although this SORN describes the information to be 
collected across many CFPB projects coordinated by CEE, for each 
project the CFPB will collect only the information needed to accomplish 
the specific purpose of that project. The CFPB will maintain control 
over the records covered by this notice.
    The report of the 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,\1\ and the Privacy Act, 5 U.S.C. 552a(r).
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    \1\ Although pursuant to Section 1017(a)(4)(E), of the Consumer 
Financial Protection Act, Public Law 111-203, the CFPB is not 
required to comply with OMB-issued guidance, it voluntarily follows 
OMB privacy-related guidance as a best practice and to facilitate 
cooperation and collaboration with other agencies.
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    The system of records entitled ``CFPB.021--CFPB Consumer Education 
and Engagement Records'' is published in its entirety below.

    Dated: September 27, 2012.
Claire Stapleton,
Chief Privacy Officer, Bureau of Consumer Financial Protection.
CFPB.021

SYSTEM NAME:
    CFPB Consumer Education and Engagement Records

SYSTEM LOCATION:
    Consumer Financial Protection Bureau, 1700 G Street NW., 
Washington, DC 20552.

CATEGORIES OF INDIVIDUALS IN THE SYSTEM:
    Individuals covered by this system are those who: participate in 
CFPB-sponsored or CFPB-funded financial education or financial 
capability programs, including financial education campaigns; utilize 
financial education web-tools or other financial education resources; 
or participate in surveys or other research conducted by the CFPB or by 
a third party, or by a third party on behalf of the CFPB.

[[Page 60383]]

CATEGORIES OF RECORDS IN THE SYSTEM:
    Records in the system regarding the individuals described above may 
include: (1) Contact information (name, phone numbers, email address); 
(2) unique identifiers provided to government employees (3) information 
related to the participant's financial status including bank account 
information and records of consumer financial transactions; (4) 
information on consumer characteristics collected in connection with 
financial education programs or the consumer's business relationship 
with a third party; (5) bank account information (for payment to survey 
participants); (6) other information collected from or about consumers 
in response to surveys or other research methods; and (7) information 
relating to the effectiveness of financial education programs or 
resources or access to financial products or services.

AUTHORITY FOR MAINENTANCE OF THE SYSTEM:
    Public Law 111-203, Title X, Sections 1013 and 1022, codified at 12 
U.S.C. 5493 and 5512.

PURPOSE(S):
    The Act established functions within the CFPB (1) To develop and 
implement initiatives to educate and empower consumers to make better 
informed financial decisions; (2) to develop and implement a strategy 
to improve the financial literacy of consumers, including access to 
financial information, products and services; and (3) to do research 
regarding, among other things, (a) consumer awareness and understanding 
of costs, risks, and benefits of consumer financial products or 
services, (b) consumer behavior with respect to consumer financial 
products and services, (c) experiences of traditionally underserved 
consumers, including un-banked and under-banked consumers, and (d) best 
practices and effective methods, tools, technology and strategies to 
educate and counsel seniors about personal finance management. 
Consistent with these functions, the purpose of the system is to enable 
the CFPB to identify and conduct effective financial education programs 
and also to collect, research, and publish certain information (other 
than personally-identifiable information) relevant to improving 
consumer financial decision-making skills and outcomes.

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 at 12 CFR part 1070 et 
seq., 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) 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 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 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;
    (7) A court, magistrate, or administrative tribunal in the course 
of 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;
    (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) 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
    (10) Appropriate federal, state, local, foreign, tribal or self-
regulatory organizations or agencies or private entities that partner 
with the CFPB for research purposes.

POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, AND 
DISPOSING OF RECORDS IN THE SYSTEM:
STORAGE:
    Paper and electronic records.

RETRIEVABILITY:
    Records are retrievable by unique identifiers assigned to the 
records for purposes of longitudinal updating or for connecting data 
points across data sources, or by a variety of fields including, 
without limitation, the individual's name and contact information, 
identifying file number, or other information collected in response to 
surveys or other research.

SAFEGUARDS:
    Access to electronic records is restricted to authorized personnel 
who have been issued non-transferrable 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.

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RETENTION AND DISPOSAL:
    The CFPB will maintain electronic and paper records indefinitely 
until the National Archives and Records Administration (NARA) approves 
the CFPB's records disposition schedule.

SYSTEM MANAGER(S) AND ADDRESS:
    Consumer Financial Protection Bureau, Associate Director, Consumer 
Education and Engagement, 1700 G Street NW., Washington, DC 20552.

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, 1700 G Street NW., Washington, DC 20552.

RECORD ACCESS PROCEDURES:
    See ``Notification Procedures'' above.

CONTESTING RECORD PROCEDURES:
    See ``Notification Procedures'' above.

RECORD SOURCE CATEGORIES:
    Information in this system is obtained directly from the individual 
who is the subject of these records, and/or from third parties, 
including depository or non-depository institutions, credit reporting 
agencies, counseling agencies or other businesses or organizations or 
governmental entities involved in the markets for consumer financial 
products or services or that provide financial education services.

EXEMPTIONS CLAIMED FOR THE SYSTEM:
    None.

[FR Doc. 2012-24311 Filed 10-2-12; 8:45 am]
BILLING CODE 4810-AM-P