[Federal Register Volume 88, Number 164 (Friday, August 25, 2023)]
[Rules and Regulations]
[Pages 58065-58071]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-18240]



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 Rules and Regulations
                                                 Federal Register
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 This section of the FEDERAL REGISTER contains regulatory documents 
 having general applicability and legal effect, most of which are keyed 
 to and codified in the Code of Federal Regulations, which is published 
 under 50 titles pursuant to 44 U.S.C. 1510.
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  Federal Register / Vol. 88, No. 164 / Friday, August 25, 2023 / Rules 
and Regulations  

[[Page 58065]]



CONSUMER FINANCIAL PROTECTION BUREAU

12 CFR Parts 1022, 1002, and 1026


Agency Contact Information; Technical Corrections

AGENCY: Consumer Financial Protection Bureau.

ACTION: Final rule; correction.

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SUMMARY: On March 20, 2023, the Consumer Financial Protection Bureau 
(Bureau or CFPB) published the ``Agency Contact Information'' final 
rule in the Federal Register. The Bureau has identified four clerical 
errors in that final rule. These errors are found in the Federal agency 
contact information that must be provided with Equal Credit Opportunity 
Act adverse action notices in appendix A to Regulation B, the Fair 
Credit Reporting Act Summary of Consumer Rights in appendix K to 
Regulation V, and a Bureau website address where the public may access 
certain APR tables referenced in comment appendix J-2 to Regulation Z. 
This document corrects these errors.

DATES: This correction is effective on September 25, 2023.

FOR FURTHER INFORMATION CONTACT: Luke Diamond, Counsel or Ruth Van 
Veldhuizen, Senior Counsel, Office of Regulations, at 202-435-7700. If 
you require this document in an alternative electronic format, please 
contact [email protected].

SUPPLEMENTARY INFORMATION: On March 20, 2023, the Consumer Financial 
Protection Bureau (Bureau or CFPB) published the ``Agency Contact 
Information'' final rule in the Federal Register. This final rule made 
non-substantive corrections and updates to Bureau and other Federal 
agency contact information found at certain locations in Regulations B, 
E, F, J, V, X, Z, and DD, including Federal agency contact information 
that must be provided with Equal Credit Opportunity Act adverse action 
notices and the Fair Credit Reporting Act Summary of Consumer Rights. 
This final rule also revised the chapter heading, made various non-
substantive changes to Regulations B and V, and provided a Bureau 
website address where the public may access certain APR tables 
referenced in Regulation Z.
    The Bureau has identified four clerical errors in the final rule. 
First, in appendix A to Regulation B, ``National Credit Union 
Administration, Office of Consumer Financial Protection (OCFP), 
Division of Consumer Compliance Policy and Outreach, 1775 Duke Street, 
Alexandria, VA 22314'' should read ``National Credit Union 
Administration, Office of Consumer Financial Protection (OCFP), 1775 
Duke Street, Alexandria, VA 22314.'' Second, on page two of the Fair 
Credit Reporting Act Summary of Consumer Rights (found in appendix K to 
Regulation V), the toll-free opt out phone number listed as 1-800-XXX-
XXXX should read 1-888-567-8688. Third, on page four of the Fair Credit 
Reporting Act Summary of Consumer Rights, ``Assistant General Counsel 
for Office of Aviation Protection'' should read ``Assistant General 
Counsel for Office of Aviation Consumer Protection.'' Fourth, in 
comment appendix J-2 to Regulation Z, https://www.consumerfinance.gov/resources/applicable-requirements/annual-percentage-rate-tables/ should 
read https://www.consumerfinance.gov/compliance/compliance-resources/other-applicable-requirements/annual-percentage-rate-tables/.
    Regulatory Requirements: The Bureau finds that public comment on 
this correction is unnecessary because the Bureau is correcting 
inadvertent, technical errors, about which there is minimal, if any, 
basis for substantive disagreement. Because no notice of proposed 
rulemaking is required, the Regulatory Flexibility Act does not require 
an initial or final regulatory flexibility analysis. The Bureau has 
determined that these corrections do not impose any new or revise any 
existing recordkeeping, reporting, or disclosure requirements on 
covered entities or members of the public that would be collections of 
information requiring OMB approval under the Paperwork Reduction Act.

List of Subjects

12 CFR Part 1002

    Aged, Banks, Banking, Civil rights, Consumer protection, Credit, 
Credit unions, Discrimination, Fair lending, Marital status 
discrimination, National banks, National origin discrimination, 
Penalties, Race discrimination, Religious discrimination, Reporting and 
recordkeeping requirements, Savings associations, Sex discrimination.

12 CFR Part 1022

    Banks, Banking, Consumer protection, Credit unions, Fair Credit 
Reporting Act, Holding companies, National banks, Privacy, Reporting 
and recordkeeping requirements, Savings associations, State member 
banks.

12 CFR Part 1026

    Advertising, Appraisal, Appraiser, Banking, banks, Consumer 
protection, Credit, Credit unions, Mortgages, National banks, Reporting 
and recordkeeping requirements, Savings associations, Truth in lending.

Authority and Issuance

    For the reasons set forth above, the Bureau amends 12 CFR chapter 
X, as set forth below:

PART 1002--EQUAL CREDIT OPPORTUNITY ACT (REGULATION B)

0
1. The authority citation for part 1002 continues to read as follows:

    Authority:  12 U.S.C. 5512, 5581; 15 U.S.C. 1691b.


0
2. Revise appendix A to read as follows:

Appendix A to Part 1002--Federal Agencies To Be Listed in Adverse 
Action Notices

    The following list indicates the Federal agency or agencies that 
should be listed in notices provided by creditors pursuant to Sec.  
1002.9(b)(1). Any questions concerning a particular creditor may be 
directed to such agencies. This list is not intended to describe 
agencies' enforcement authority for ECOA and Regulation B. Terms 
that are not defined in the Federal Deposit Insurance Act (12 U.S.C. 
1813(s)) shall have the meaning given to them in the International 
Banking Act of 1978 (12 U.S.C. 3101).
    1. Banks, savings associations, and credit unions with total 
assets of over $10 billion and their affiliates: Bureau of Consumer 
Financial Protection, 1700 G Street NW, Washington, DC 20552. Such 
affiliates that

[[Page 58066]]

are not banks, savings associations, or credit unions also should 
list, in addition to the Bureau: Federal Trade Commission, Consumer 
Response Center, 600 Pennsylvania Avenue NW, Washington, DC 20580.
    2. To the extent not included in item 1 above:
    a. National Banks, Federal savings associations, and Federal 
branches and Federal agencies of foreign banks: Office of the 
Comptroller of the Currency, Customer Assistance Group, P.O. Box 
53570, Houston, TX 77052.
    b. State member banks, branches and agencies of foreign banks 
(other than Federal branches, Federal agencies, and insured State 
branches of foreign banks), commercial lending companies owned or 
controlled by foreign banks, and organizations operating under 
section 25 or 25A of the Federal Reserve Act: Federal Reserve 
Consumer Help Center, P.O. Box 1200, Minneapolis, MN 55480.
    c. Nonmember Insured Banks, Insured State Branches of Foreign 
Banks, and Insured State Savings Associations: Division of Depositor 
and Consumer Protection, National Center for Consumer and Depositor 
Assistance, Federal Deposit Insurance Corporation, 1100 Walnut 
Street, Box #11, Kansas City, MO 64106.
    d. Federal Credit Unions: National Credit Union Administration, 
Office of Consumer Financial Protection (OCFP), 1775 Duke Street, 
Alexandria, VA 22314.
    3. Air Carriers: Assistant General Counsel for Office of 
Aviation Consumer Protection, Department of Transportation, 1200 New 
Jersey Avenue SE, Washington, DC 20590.
    4. Creditors Subject to Surface Transportation Board: Office of 
Public Assistance, Governmental Affairs, and Compliance, Surface 
Transportation Board, 395 E Street SW, Washington, DC 20423.
    5. Creditors Subject to Packers and Stockyards Act: Nearest 
Packers and Stockyards Division Regional Office.
    6. Small Business Investment Companies: Associate Administrator, 
Office of Capital Access, United States Small Business Association, 
409 Third Street SW, Suite 8200, Washington, DC 20416.
    7. Brokers and Dealers: Securities and Exchange Commission, 100 
F Street NE, Washington, DC 20549.
    8. Federal Land Banks, Federal Land Bank Associations, Federal 
Intermediate Credit Banks, and Production Credit Associations: Farm 
Credit Administration, 1501 Farm Credit Drive, McLean, VA 22102-
5090.
    9. Retailers, Finance Companies, and All Other Creditors Not 
Listed Above: Federal Trade Commission, Consumer Response Center, 
600 Pennsylvania Avenue NW, Washington, DC 20580.

PART 1022--FAIR CREDIT REPORTING (REGULATION V)

0
3. The authority citation for part 1022 continues to read as follows:

    Authority:  12 U.S.C. 5512, 5581; 15 U.S.C. 1681a, 1681b, 1681c, 
1681c-1, 1681c-3, 1681e, 1681g, 1681i, 1681j, 1681m, 1681s, 1681s-2, 
1681s-3, and 1681t; Sec. 214, Pub. L. 108-159, 117 Stat. 1952.


0
4. Revise appendix K to read as follows:

Appendix K to Part 1022--Summary of Consumer Rights

    The prescribed form for this summary is a disclosure that is 
substantially similar to the Bureau's model summary with all 
information clearly and prominently displayed. The list of Federal 
regulators that is included in the Bureau's prescribed summary may 
be provided separately so long as this is done in a clear and 
conspicuous way. A summary should accurately reflect changes to 
those items that may change over time (e.g., dollar amounts, or 
telephone numbers and addresses of Federal agencies) to remain in 
compliance. Translations of this summary will be in compliance with 
the Bureau's prescribed model, provided that the translation is 
accurate and that it is provided in a language used by the recipient 
consumer.
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PART 1026--TRUTH IN LENDING (REGULATION Z)

0
5. The authority citation for part 1026 continues to read as follows:

    Authority:  12 U.S.C. 2601, 2603-2605, 2607, 2609, 2617, 3353, 
5511, 5512, 5532, 5581; 15 U.S.C. 1601 et seq.


0
6. Supplement I is amended by revising Appendix J to read as follows:

Supplement I to Part 1026--Official Interpretations

* * * * *

Appendix J--Annual Percentage Rate Computations for Closed-End Credit 
Transactions

    1. Use of appendix J. Appendix J sets forth the actuarial equations 
and instructions for calculating the annual percentage rate in closed-
end credit transactions. While the formulas contained in this appendix 
may be directly applied to calculate the annual percentage rate for an 
individual transaction, they may also be utilized to program 
calculators and computers to perform the calculations.
    2. Relation to Bureau tables. The Bureau's Annual Percentage Rate 
Tables also provide creditors with a calculation tool that applies the 
technical information in appendix J. An annual

[[Page 58071]]

percentage rate computed in accordance with the instructions in the 
tables is deemed to comply with the regulation. Volume I of the tables 
may be used for credit transactions involving equal payment amounts and 
periods, as well as for transactions involving any of the following 
irregularities: odd first period, odd first payment and odd last 
payment. Volume II of the tables may be used for transactions that 
involve any type of irregularities. These tables may be obtained from 
the Bureau, 1700 G Street NW, Washington, DC 20552, upon request. The 
tables are also available on the Bureau's website at: https://www.consumerfinance.gov/compliance/compliance-resources/other-applicable-requirements/annual-percentage-rate-tables/.
* * * * *

Paul Hannah,
Senior Counsel and Federal Register Liaison, Consumer Financial 
Protection Bureau.
[FR Doc. 2023-18240 Filed 8-24-23; 8:45 am]
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