[Federal Register Volume 82, Number 49 (Wednesday, March 15, 2017)]
[Proposed Rules]
[Pages 13782-13785]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-05060]
[[Page 13782]]
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BUREAU OF CONSUMER FINANCIAL PROTECTION
12 CFR Parts 1005 and 1026
[Docket No. CFPB-2017-0008]
RIN 3170-AA69
Prepaid Accounts Under the Electronic Fund Transfer Act
(Regulation E) and the Truth in Lending Act (Regulation Z); Delay of
Effective Date
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Proposed rule with request for public comment.
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SUMMARY: The Bureau of Consumer Financial Protection (Bureau or CFPB)
is proposing to delay the October 1, 2017 effective date of the rule
governing Prepaid Accounts Under the Electronic Fund Transfer Act
(Regulation E) and the Truth in Lending Act (Regulation Z) by six
months, to April 1, 2018.
DATES: Comments must be received on or before April 5, 2017.
ADDRESSES: You may submit comments, identified by Docket No. CFPB-2017-
0008 or RIN 3170-AA69, by any of the following methods:
Email: [email protected]. Include Docket
No. CFPB-2017-0008 or RIN 3170-AA69 in the subject line of the email.
Electronic: http://www.regulations.gov. Follow the
instructions for submitting comments.
Mail: Monica Jackson, Office of the Executive Secretary,
Consumer Financial Protection Bureau, 1700 G Street NW., Washington, DC
20552.
Hand Delivery/Courier: Monica Jackson, Office of the
Executive Secretary, Consumer Financial Protection Bureau, 1275 First
Street NE., Washington, DC 20002.
Instructions: All submissions should include the agency name and
docket number or Regulatory Information Number (RIN) for this
rulemaking. Because paper mail in the Washington, DC area and at the
Bureau is subject to delay, commenters are encouraged to submit
comments electronically. 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 1275
First Street NE., Washington, DC 20002, on official business days
between the hours of 10 a.m. and 5 p.m. Eastern Time. You can make an
appointment to inspect the documents by telephoning (202) 435-7275.
All comments, including attachments and other supporting materials,
will become part of the public record and subject to public disclosure.
Sensitive personal information, such as account numbers or Social
Security numbers, should not be included. Comments will not be edited
to remove any identifying or contact information.
FOR FURTHER INFORMATION CONTACT: Thomas L. Devlin or Yaritza Velez,
Counsels, or Kristine M. Andreassen, Senior Counsel, Office of
Regulations, at (202) 435-7700.
SUPPLEMENTARY INFORMATION:
I. Summary of the Proposed Rule
On October 5, 2016, the Bureau released a final rule to create
comprehensive consumer protections for prepaid accounts under
Regulation E, which implements the Electronic Fund Transfer Act (EFTA),
and Regulation Z, which implements the Truth in Lending Act (TILA)
(Prepaid Accounts Final Rule).\1\ The Prepaid Accounts Final Rule has
an effective date of October 1, 2017. Through its efforts to support
industry implementation of the Prepaid Accounts Final Rule, the Bureau
has learned that some industry participants believe they will have
difficulty complying with certain provisions of the Prepaid Accounts
Final Rule that go into effect October 1, 2017. In order to facilitate
compliance with the Prepaid Accounts Final Rule, and to allow an
opportunity for the Bureau to assess whether any additional adjustments
to the Rule are appropriate, the Bureau is proposing to extend the
effective date of the Prepaid Accounts Final Rule by six months, to
April 1, 2018. The Bureau believes that such an extension would, among
other things, help industry participants address certain packaging-
related logistical issues for prepaid accounts that are sold at retail
locations.
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\1\ 81 FR 83934 (Nov. 22, 2016).
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This proposed rule seeks comment on whether the Bureau should
extend the effective date of the Prepaid Accounts Final Rule, and if
so, whether six months is an appropriate length of time for such an
extension. The Bureau is also proposing to make conforming amendments
to certain regulatory text and commentary adopted in the Prepaid
Accounts Final Rule to reflect the proposed effective date delay.
II. Background
A. The Prepaid Accounts Rulemaking
In the Prepaid Accounts Final Rule, the Bureau extended Regulation
E coverage to prepaid accounts and adopted provisions specific to such
accounts, and generally expanded Regulation Z's coverage to overdraft
credit features that may be offered in conjunction with prepaid
accounts.\2\ The Bureau released a proposal regarding prepaid accounts
under Regulations E and Z, including model and sample disclosure forms,
for public comment on November 13, 2014,\3\ and released the Prepaid
Accounts Final Rule on October 5, 2016.
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\2\ 81 FR 83934 (Nov. 22, 2016).
\3\ 79 FR 77102 (Dec. 23, 2014) (Prepaid Accounts NPRM). See
also Press Release, CFPB, CFPB Proposes Strong Federal Protections
for Prepaid Products (Nov. 13, 2014), available at https://www.consumerfinance.gov/about-us/newsroom/cfpb-proposes-strong-federal-protections-for-prepaid-products/. The Bureau had previously
issued an advance notice of proposed rulemaking that posed a series
of questions for public comment about how the Bureau might consider
regulating general purpose reloadable cards and other prepaid
products. 77 FR 30923 (May 24, 2012).
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Upon issuing the Prepaid Accounts Final Rule, the Bureau initiated
robust efforts to support industry implementation.\4\ Information
regarding the Bureau's Prepaid Accounts Final Rule implementation
initiatives and available resources can be found on the Bureau's
regulatory implementation Web site at https://www.consumerfinance.gov/policy-compliance/guidance/implementation-guidance/prepaid-rule/.
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\4\ These on-going efforts include: (1) The publication of a
plain-language small entity compliance guide to help industry
understand the Prepaid Accounts Final Rule; (2) the publication of
various other implementation tools regarding the Prepaid Accounts
Final Rule, including an executive summary of the rule, summaries of
key changes for payroll card accounts and government benefit
accounts, a prepaid account coverage chart, and a summary of the
rule's effective date provisions; (3) the release of native design
files for print and source code for web-based disclosures for all of
the model and sample disclosure forms included in the Prepaid
Accounts Final Rule; (4) meetings with industry, including trade
associations and individual industry participants, to discuss and
support their implementation efforts; and (5) participation in
conferences and forums.
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B. Proposed Effective Date
As published, the Prepaid Accounts Final Rule has a general
effective date of October 1, 2017. As part of its efforts to support
industry implementation, the Bureau has discussed implementation
efforts with a number of industry participants. As a result of those
discussions, the Bureau has learned that some industry participants are
concerned that they will have difficulty in complying with the Prepaid
Accounts Final Rule while also ensuring continued availability of their
prepaid products and with minimal disruption to consumers by October 1,
2017 for a variety of reasons. For example, the Bureau put in place an
exception in Regulation E Sec. 1005.18(h)(2) pursuant to which
financial institutions are not
[[Page 13783]]
required to pull and replace prepaid account access devices and
packaging materials with non-compliant disclosures that were produced
in the normal course of business prior to October 1, 2017. Nonetheless,
the Bureau understands that because of concerns about legal and
regulatory exposure at both the Federal and State level due to
potential product changes, and in particular due to developments
following release of the Prepaid Accounts Final Rule, some industry
participants believe that they should in fact pull and replace non-
compliant packaging. Industry has also raised related concerns
regarding the production capacity of packaging manufacturers and other
supply chain limitations leading up to the October 1, 2017 effective
date due to increased demand by industry on a limited number of
manufacturers.
In addition, in the course of working to implement the Prepaid
Accounts Final Rule, some industry participants have raised concerns
about what they describe as unanticipated complexities arising from the
interaction of certain aspects of the rule with certain business models
and practices (including recent changes thereto) that they did not
fully address in their comment letters on the Prepaid Accounts NPRM,
which may lead to additional complexities for implementation and
negative implications for consumers.
The Bureau continues to believe that the Prepaid Accounts Final
Rule will provide significant benefits to consumers and that,
therefore, expeditious implementation remains essential to provide
comprehensive consumer protections to users of prepaid accounts. The
Bureau also appreciates the concerns raised by some industry
participants that they may have difficulty in complying with the rule
by October 1, 2017. Accordingly, for the reasons stated herein, the
Bureau is proposing to delay the effective date of the Prepaid Accounts
Final Rule for a period of six months, to April 1, 2018. In order to
effect this change, the Bureau is also proposing to amend Regulation E
Sec. Sec. 1005.18(b)(2)(ix) and (h), and 1005.19(f)(1), and related
commentary, to reflect the delayed effective date.
Furthermore, delaying the effective date will allow the Bureau to
more closely evaluate concerns raised by industry participants
regarding certain substantive aspects of the Prepaid Accounts Final
Rule that they assert are posing particular complexities for
implementation or may have negative consequences for consumers that
were not anticipated or fully explained by commenters in response to
the Prepaid Accounts NPRM, and to propose revisions to those provisions
of the Prepaid Accounts Final Rule if it determines that amendments are
necessary and appropriate.
The Bureau believes that, based on its initial outreach to
industry, a six-month delay would be sufficient for industry
participants to ensure that they can comply with the Prepaid Accounts
Final Rule with minimal disruption to consumers. In particular, a six-
month extension would both allow more time for package printing and
allow pull-and-replace processes at retail locations to occur after the
winter holiday season, which is a particularly busy time for retailers.
Indeed, the Bureau understands that industry often effectuates pull-
and-replace processes in the spring for precisely this reason. The
Bureau also believes that a six-month delay will allow the Bureau
adequate opportunity to consider possible additional amendments to the
Prepaid Accounts Final Rule, and for industry to implement any such
changes, without unnecessary disruption to consumers' access to, and
use of, prepaid accounts.
The Bureau solicits comment on whether it should delay the
effective date for the Prepaid Accounts Final Rule, and if so, whether
six months is an appropriate length of time. The Bureau also solicits
comment on the potential consequences of not extending the effective
date. In particular, the Bureau asks commenters to provide specific
detail and any available data regarding current and planned practices,
as well as relevant knowledge and specific facts about any benefits,
costs, or other impacts of this proposal on industry, consumers, and
other stakeholders. Finally, the Bureau solicits comment about the
impact of the proposed delay on consumers who use prepaid accounts.
The Bureau is not proposing to delay the effective date of the
requirement to submit prepaid account agreements to the Bureau in
Regulation E Sec. 1005.19(f)(2), which is October 1, 2018. The Bureau
expects to have its agreement submission process in place by October 1,
2018, and the Bureau's outreach has not indicated that industry
participants are concerned that they will not be able to meet the
agreement submission effective date. The Bureau nonetheless solicits
comment on whether it should delay the effective date of the agreement
submission requirement, and if so, for what length of time.
The Bureau is not proposing to amend any substantive requirements
of the Prepaid Accounts Final Rule at this time. The purpose of this
notice is not to seek comment generally on policy decisions made in the
Prepaid Accounts Final Rule that industry or other stakeholders might
wish the Bureau to reconsider. The Bureau will continue its outreach to
industry and other stakeholders to understand their experiences in
implementing the Prepaid Accounts Final Rule. If the Bureau determines
that amendments to the substantive provisions of the Prepaid Accounts
Final Rule are warranted, it will do so through a separate rulemaking.
III. Legal Authority
The Bureau is proposing to exercise its rulemaking authority
pursuant to EFTA section 904(a) and (c), Dodd-Frank Act sections
1022(b)(1) and 1032(a), and TILA section 105(a) to delay the effective
date of the Prepaid Accounts Final Rule.
The legal authority for the Prepaid Accounts Final Rule is
described in detail in the Prepaid Accounts Final Rule's Supplementary
Information.\5\ As amended by the Dodd-Frank Act, EFTA section 904(a)
and (c) \6\ authorizes the Bureau to prescribe regulations to carry out
the purposes of EFTA and provides that such regulations may contain
such classifications, differentiations, or other provisions, and may
provide for such adjustments and exceptions, for any class of
electronic fund transfers or remittance transfers as in the judgment of
the Bureau are necessary or proper to effectuate the purposes of EFTA,
to prevent circumvention or evasion thereof, or to facilitate
compliance therewith. As amended by the Dodd-Frank Act, TILA section
105(a) \7\ directs the Bureau to prescribe regulations to carry out the
purposes of TILA and provides that such regulations may contain such
additional requirements, classifications, differentiations, or other
provisions, and may provide for such adjustments and exceptions for all
or any class of transactions as in the judgment of the Bureau are
necessary or proper to effectuate the purposes of TILA, to prevent
circumvention or evasion thereof, or to facilitate compliance
therewith.\8\ Section 1032(a)
[[Page 13784]]
of the Dodd-Frank Act \9\ provides that the Bureau may prescribe rules
to ensure that the features of any consumer financial product or
service, both initially and over the term of the product or service,
are fully, accurately, and effectively disclosed to consumers in a
manner that permits consumers to understand the costs, benefits, and
risks associated with the product or service, in light of the facts and
circumstances. Additionally, under Dodd-Frank Act section
1022(b)(1),\10\ the Bureau has general authority to prescribe rules as
may be necessary or appropriate to enable the Bureau to administer and
carry out the purposes and objectives of the Federal consumer financial
laws, and to prevent evasions thereof. EFTA, TILA, and Title X of the
Dodd-Frank Act are Federal consumer financial laws. Accordingly, in
proposing this rule, the Bureau is exercising its authority under Dodd-
Frank Act section 1022(b) \11\ to prescribe rules under EFTA, TILA, and
Title X of the Dodd-Frank Act that carry out the purposes and
objectives and prevent evasion of those laws. Section 1022(b)(2) of the
Dodd-Frank Act \12\ prescribes certain standards for rulemaking that
the Bureau must follow in exercising its authority under section
1022(b)(1).
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\5\ See, e.g., 81 FR 83934, 83958-60 (Nov. 22, 2016).
\6\ 15 U.S.C. 1593b(a).
\7\ 15 U.S.C. 1604(a).
\8\ TILA section 105(d) generally provides that a regulation
requiring any disclosure that differs from the disclosures
previously required by parts A, D, or E of TILA shall have an
effective date ``of that October 1 which follows by at least six
months the date of promulgation.'' Section 105(d) further provides
that the Bureau ``may at its discretion take interim action by
regulation, amendment, or interpretation to lengthen the period of
time permitted for creditors or lessors to adjust their forms to
accommodate new requirements.'' Although the Bureau desires to have
the rule take effect as soon as feasible given its value for
consumers, the Bureau is proposing to use its discretion under TILA
section 105(d) to lengthen the period in this instance. The Bureau
believes the changes the Prepaid Accounts Final Rule will require to
disclosures pursuant to Regulation Z warrant a delayed effective
date that conforms to the rest of the rule.
\9\ 12 U.S.C. 5532(a).
\10\ 12 U.S.C. 5512(b)(1).
\11\ 12 U.S.C. 5512(b).
\12\ 12 U.S.C. 5512(b)(2).
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IV. Provisions Affected by the Proposal
1005.18 Requirements for Financial Institutions Offering Prepaid
Accounts
18(b) Pre-Acquisition Disclosure Requirements
18(b)(2) Short Form Disclosure Content
18(b)(2)(ix) Disclosure of Additional Fee Types
Regulation E Sec. 1005.18(b)(2) describes the short form
disclosure requirements for prepaid accounts. Section 1005.18(b)(2)(ix)
contains requirements specifically regarding additional fee types.
Section 1005.18(b)(2)(ix)(D) describes the timing requirements for the
initial assessment of an additional fee types disclosure, and Sec.
1005.18(b)(2)(ix)(E) describes the timing for the periodic reassessment
and update of additional fee types disclosures. The Bureau is proposing
to revise the dates in the regulatory text and headings in Sec.
1005.18(b)(2)(ix)(D)(1) through (3) and in comments 18(b)(2)(ix)(D)(1)-
1, 18(b)(2)(ix)(D)(2)-1, 18(b)(2)(ix)(E)(2)-1.i through iii, and
18(b)(2)(ix)(E)(3)-1 to reflect the proposed revised effective date of
April 1, 2018. The Bureau is not, however, proposing to change the
October 1, 2014 date in Sec. 1005.18(b)(2)(ix)(D)(1) and related
commentary, which is the beginning of the time frame for which
financial institutions may calculate additional fee types to disclose,
so as not to inconvenience financial institutions who have already
prepared their additional fee types calculations in reliance on that
date.
18(h) Effective Date and Special Transition Rules for Disclosure
Provisions
Regulation E Sec. 1005.18(h) sets forth several provisions to make
clearer the Prepaid Accounts Final Rule's general October 1, 2017
effective date. The Bureau is proposing to revise the dates in the
regulatory text and headings throughout Sec. 1005.18(h) and in
comments 18(h)-1, 2, 6.i and 6.ii to reflect the proposed revised
effective date of April 1, 2018.
1005.19 Internet Posting of Prepaid Account Agreements
19(f) Effective Date
19(f)(1) Effective Date
Regulation E Sec. 1005.19(f)(1) sets forth the general effective
date for the prepaid account agreement posting requirements in Sec.
1005.19, other than the delayed requirement to submit prepaid account
agreements to the Bureau pursuant to Sec. 1005.19(b), as addressed in
Sec. 1005.19(f)(2). The Bureau is proposing to revise the date in the
regulatory text of Sec. 1005.19(f)(1) to reflect the proposed revised
effective date of April 1, 2018. As discussed above, the Bureau is not
proposing to delay the October 1, 2018 date for submission of
agreements to the Bureau.
V. Effective Date
The Bureau is proposing to delay the effective date of the Prepaid
Accounts Final Rule by six months, to April 1, 2018. Additionally, the
Bureau is proposing to make conforming amendments to Regulation E
Sec. Sec. 1005.18(b)(2)(ix) and (h), and 1005.19(f)(1), and related
commentary. After considering comments received on the proposal, the
Bureau will publish a final rule with respect to the effective date of
the Prepaid Accounts Final Rule. The Bureau proposes that the final
rule with respect to the effective date of the Prepaid Accounts Final
Rule will become effective 30 days after publication in the Federal
Register, as required under section 553(d) of the Administrative
Procedure Act.\13\
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\13\ 5 U.S.C. 553(d).
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VI. Section 1022(b) of the Dodd-Frank Act
In developing the proposed rule, the Bureau has considered the
potential benefits, costs and impacts required by section 1022(b)(2) of
the Dodd-Frank Act. Specifically, section 1022(b)(2) calls for the
Bureau to consider the potential benefits and costs of a regulation to
consumers and covered persons, including the potential reduction of
consumer access to consumer financial products or services, the impact
on depository institutions and credit unions with $10 billion or less
in total assets as described in section 1026 of the Dodd-Frank Act, and
the impact on consumers in rural areas. In addition, 12 U.S.C.
5512(b)(2)(B) directs the Bureau to consult, before and during the
rulemaking, with appropriate prudential regulators or other Federal
agencies, regarding consistency with the objectives those agencies
administer. The Bureau consulted, or offered to consult with, the
prudential regulators, the Department of the Treasury, the Securities
and Exchange Commission, and the Federal Trade Commission regarding
consistency with any prudential, market, or systemic objectives
administered by these agencies.
The Bureau previously considered the costs, benefits, and impacts
of the Prepaid Accounts Final Rule's major provisions.\14\ Compared to
the baseline established by the Prepaid Accounts Final Rule,\15\ the
proposed delay of the effective date of the Prepaid Accounts Final Rule
would generally benefit covered persons by facilitating initial
compliance with the Prepaid Accounts Final Rule's requirements and
delaying the start of ongoing compliance costs. Because covered persons
retain the option of complying with the Prepaid Accounts Final Rule's
effective date, any delay in the effective date will not increase costs
to providers because they retain the option of complying with the
original effective date. If a delay in the effective date would help to
preserve consumer access to covered products by minimizing industry
disruption, both
[[Page 13785]]
consumers and covered persons would benefit. The Bureau believes that
delaying the effective date may also delay consumers' realization of
benefits arising from the protections provided by the Prepaid Accounts
Final Rule. In addition, the Bureau does not expect the proposed rule
to have a differential impact on depository institutions and credit
unions with $10 billion or less in total assets as described in section
1026 of the Dodd-Frank Act or on consumers in rural areas. The Bureau
does not believe that the proposed delay in the effective date would
reduce consumer access to consumer financial products and services, and
it may increase consumer access by decreasing the possibility of
industry disruption arising from the Prepaid Accounts Final Rule's
implementation.
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\14\ 81 FR 83934, 84269 (Nov. 22, 2016).
\15\ The Bureau has discretion in any rulemaking to choose an
appropriate scope of analysis with respect to potential benefits,
costs, and impacts and an appropriate baseline.
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The Bureau requests comment on this discussion as well as
submission of additional information that could inform the Bureau's
consideration of the potential benefits, costs, and impacts of this
proposed rule.
VII. Regulatory Flexibility Act
The Regulatory Flexibility Act \16\ as amended by the Small
Business Regulatory Enforcement Fairness Act of 1996 \17\ (RFA)
requires each agency to consider the potential impact of its
regulations on small entities, including small businesses, small
governmental units, and small not-for-profit organizations.\18\ The RFA
defines a ``small business'' as a business that meets the size standard
developed by the Small Business Administration (SBA) pursuant to the
Small Business Act.\19\
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\16\ Public Law 96-354, 94 Stat. 1164 (1980).
\17\ Public Law 104-21, section 241, 110 Stat. 847, 864-65
(1996).
\18\ 5 U.S.C. 601 through 612. The term ```small organization'
means any not-for-profit enterprise which is independently owned and
operated and is not dominant in its field, unless an agency
establishes [an alternative definition under notice and comment].''
5 U.S.C. 601(4). The term ```small governmental jurisdiction' means
governments of cities, counties, towns, townships, villages, school
districts, or special districts, with a population of less than
fifty thousand, unless an agency establishes [an alternative
definition after notice and comment].'' 5 U.S.C. 601(5).
\19\ 5 U.S.C. 601(3). The Bureau may establish an alternative
definition after consulting with the SBA and providing an
opportunity for public comment. Id.
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The RFA generally requires an agency to conduct an initial
regulatory flexibility analysis (IRFA) and a final regulatory
flexibility analysis (FRFA) of any rule subject to notice-and-comment
rulemaking requirements, unless the agency certifies that the rule
would not have a significant economic impact on a substantial number of
small entities.\20\ The Bureau also is subject to certain additional
procedures under the RFA involving the convening of a panel to consult
with small entity representatives prior to proposing a rule for which
an IRFA is required.\21\
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\20\ 5 U.S.C. 601 through 612.
\21\ 5 U.S.C. 609.
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In the Prepaid Accounts NPRM, the Bureau concluded that the rule
would not have a significant economic impact on a substantial number of
small entities and that an IRFA was therefore not required.\22\ That
conclusion remained unchanged for the Prepaid Accounts Final Rule.\23\
The Bureau concludes that an IRFA is not required for this proposed
rule because the proposed rule, which would delay the effective date of
a rule that will not have a significant economic impact on a
substantial number of small entities, would not have a significant
economic impact on a substantial number of small entities if adopted.
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\22\ 79 FR 77102, 77283 (Dec. 23, 2014).
\23\ 81 FR 83934, 84308 (Nov. 22, 2016).
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As discussed above, the proposal would delay the effective date of
the Prepaid Accounts Final Rule to April 1, 2018. The proposed six-
month delay in the effective date would benefit small entities by
providing additional flexibility with respect to the timing of the
Prepaid Accounts Final Rule's implementation. In addition to generally
providing increased flexibility, the delay in the effective date would
permit small entities to delay the commencement of any ongoing costs
that result from complying with the Prepaid Accounts Final Rule.
Because small entities retain the option of complying with the Prepaid
Accounts Final Rule's original effective date, the proposed rule's
delay of the effective date will not increase costs incurred by small
entities relative to the baseline established by the Prepaid Accounts
Final Rule. Accordingly, the undersigned hereby certifies that this
proposed rule, if adopted, would not have a significant economic impact
on a substantial number of small entities.
VIII. Paperwork Reduction Act
Under the Paperwork Reduction Act of 1995 \24\ (PRA), Federal
agencies are generally required to seek Office of Management and Budget
(OMB) approval for information collection requirements prior to
implementation. The collections of information related to the Prepaid
Accounts Final Rule have been previously reviewed and approved by OMB
in accordance with the PRA and assigned OMB Control Number 3170-0014
(Regulation E) and 3170-0015 (Regulation Z). Under the PRA, the Bureau
may not conduct or sponsor and, notwithstanding any other provision of
law, a person is not required to respond to an information collection
unless the information collection displays a valid control number
assigned by OMB.
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\24\ 44 U.S.C. 3501 et seq.
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The Bureau has determined that this proposed rule would not have
any new or revised information collection requirements (recordkeeping,
reporting, or disclosure requirements) on covered entities or members
of the public that would constitute collections of information
requiring OMB approval under the PRA. The Bureau welcomes comments on
this determination or any other aspects of this proposal for purposes
of the PRA. Comments should be submitted to the Bureau as instructed in
the Addresses part of this notice and to the attention of the Paperwork
Reduction Act Officer. All comments will become a matter of public
record.
Dated: March 8, 2017.
Richard Cordray,
Director, Bureau of Consumer Financial Protection.
[FR Doc. 2017-05060 Filed 3-14-17; 8:45 am]
BILLING CODE 4810-AM-P