[Federal Register Volume 84, Number 128 (Wednesday, July 3, 2019)]
[Proposed Rules]
[Pages 31746-31747]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-14174]


 ========================================================================
 Proposed Rules
                                                 Federal Register
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 This section of the FEDERAL REGISTER contains notices to the public of 
 the proposed issuance of rules and regulations. The purpose of these 
 notices is to give interested persons an opportunity to participate in 
 the rule making prior to the adoption of the final rules.
 
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 

  Federal Register / Vol. 84, No. 128 / Wednesday, July 3, 2019 / 
Proposed Rules  

[[Page 31746]]



BUREAU OF CONSUMER FINANCIAL PROTECTION

12 CFR Part 1003

[Docket No. CFPB-2019-0020]
RIN 3170-AA97


Home Mortgage Disclosure (Regulation C) Data Points and Coverage; 
Extension of Comment Period

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Advance notice of proposed rulemaking; extension of comment 
period.

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SUMMARY: On May 8, 2019, the Bureau of Consumer Financial Protection 
(Bureau) published in the Federal Register an Advance Notice of 
Proposed Rulemaking (ANPR) soliciting comments relating to the data 
points the Bureau's October 2015 final rule implementing the Home 
Mortgage Disclosure Act (HMDA) added to Regulation C or revised to 
require additional information. The ANPR also solicits comments 
relating to the requirement that institutions report certain business- 
or commercial-purpose transactions under Regulation C. The ANPR 
provided a 60-day comment period that will end on July 8, 2019. To 
allow interested persons more time to consider and submit their 
responses, the Bureau has determined that an extension of the comment 
period until October 15, 2019 is appropriate.

DATES: The comment period for the ANPR published May 8, 2019, at 84 FR 
20049, is extended. Responses must now be received on or before October 
15, 2019.

ADDRESSES: You may submit responsive information and other comments, 
identified by Docket No. CFPB-2019-0020 or RIN 3170-AA97, by any of the 
following methods:
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: [email protected]. Include Docket No. CFPB-
2019-0020 or RIN 3170-AA97 in the subject line of the message.
     Mail: Comment Intake, Bureau of Consumer Financial 
Protection, 1700 G Street NW, Washington, DC 20552.
     Hand Delivery/Courier: Comment Intake, Bureau of Consumer 
Financial Protection, 1700 G Street NW, Washington, DC 20552.
    Instructions: When responding to a particular question, please note 
the question number at the top of the response. You are not required to 
answer all questions to receive consideration of your comments. The 
Bureau encourages the early submission of comments.
    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 1700 G Street NW, Washington, DC 20552, on 
official business days between the hours of 10:00 a.m. and 5:00 p.m. 
Eastern Time. You can make an appointment to inspect the documents by 
telephoning 202-435-7275.
    All submissions, including attachments and other supporting 
materials, will become part of the public record and subject to public 
disclosure. Proprietary information or sensitive personal information, 
such as account numbers or Social Security numbers, or names of other 
individuals, should not be included. Submissions will not be edited to 
remove any identifying or contact information.
    The Bureau invites comment on all aspects of the ANPR from all 
interested parties. In the event that a respondent may have concerns 
about revealing proprietary or personal information, the Bureau 
welcomes comments from attorneys, consumer advocacy organizations, 
trade associations, or other representatives that do not identify their 
clients.

FOR FURTHER INFORMATION CONTACT: Shaakira Gold-Ramirez, Counsel; or 
David Hixson, Senior Counsel, Office of Regulations, at 202-435-7700 or 
https://reginquiries.consumerfinance.gov/. If you require this document 
in an alternative electronic format, please contact 
[email protected].

SUPPLEMENTARY INFORMATION: On May 2, 2019, the Bureau issued the ANPR. 
The ANPR was published in the Federal Register on May 8, 2019. The ANPR 
seeks comment, data, and information from the public relating to 
whether to make changes to the data points the Bureau's October 2015 
final rule implementing HMDA added to Regulation C or revised to 
require additional information. The ANPR also seeks comment, data, and 
information from the public relating to the requirement that 
institutions report certain business- or commercial-purpose 
transactions under Regulation C.
    The comment period for the ANPR was set to close on July 8, 2019. 
The Bureau has received multiple written requests asking that the 
Bureau extend the comment period. The requests indicated that 
additional time would enable interested parties to more thoroughly 
consider and respond to the questions presented in the ANPR. For 
example, a group of three industry trade associations asked that the 
Bureau extend the comment period from 60 to 90 days so that, among 
other things, they would have sufficient time to survey their members 
about the questions presented in the ANPR. A group of 18 consumer 
advocacy and other non-profit organizations asked that the Bureau 
reissue the ANPR and allow for a new 90-day comment period after the 
release of the national loan level dataset for the data collected by 
financial institutions in 2018 and the Bureau's annual overview of 
residential mortgage lending based on that data (collectively, the 2018 
HMDA Data).\1\ These organizations noted that 2018 was the first year 
that HMDA and Regulation C have required institutions to collect and 
report the data points that are the subject of the ANPR.
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    \1\ With respect to the data collected by financial institutions 
in 2017, the national loan level dataset and the Bureau's annual 
overview can be found on the Bureau's website. See Bureau of 
Consumer Fin. Prot., ``Data Point: 2017 Mortgage Market Activity and 
Trends'' (May 7, 2018), https://www.consumerfinance.gov/data-research/research-reports/cfpb-data-point-mortgage-market-activity-and-trends/.
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    The Bureau has balanced interested parties' desire to have 
additional time to consider the issues raised in the ANPR,

[[Page 31747]]

gather data, and prepare their responses, with the need to proceed 
expeditiously to consider comments and determine whether to issue a 
proposed rule. The Bureau expects the 2018 HMDA Data to be released in 
late summer. In light of these factors, the Bureau believes that an 
extension of the ANPR comment period to October 15, 2019 is appropriate 
and will allow interested parties adequate time to consider the 2018 
HMDA Data before submitting their comments on the ANPR. The Bureau does 
not, however, believe it is necessary or appropriate to reissue the 
ANPR with a new 90-day comment period. The ANPR comment period will now 
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close October 15, 2019.

    Dated: June 24, 2019.
Kathleen L. Kraninger,
Director, Bureau of Consumer Financial Protection.
[FR Doc. 2019-14174 Filed 7-2-19; 8:45 am]
 BILLING CODE 4810-AM-P