[Federal Register Volume 89, Number 159 (Friday, August 16, 2024)]
[Unknown Section]
[Pages 66900-66901]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-16447]
[[Page 66899]]
Vol. 89
Friday,
No. 159
August 16, 2024
Part XX
Consumer Financial Protection Bureau
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Semiannual Regulatory Agenda
Federal Register / Vol. 89 , No. 159 / Friday, August 16, 2024 / UA:
Reg Flex Agenda
[[Page 66900]]
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CONSUMER FINANCIAL PROTECTION BUREAU
12 CFR CH. X
Semiannual Regulatory Agenda
AGENCY: Consumer Financial Protection Bureau.
ACTION: Semiannual Regulatory Agenda.
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SUMMARY: The Consumer Financial Protection Bureau (CFPB) is publishing
this agenda as part of the Spring 2024 Unified Agenda of Federal
Regulatory and Deregulatory Actions. The CFPB reasonably anticipates
having the regulatory matters identified below under consideration
during the period from July 2024 to June 2025. The next agenda will be
published in Fall 2024 and will update this agenda through Fall 2025.
Publication of this agenda is in accordance with the Regulatory
Flexibility Act (5 U.S.C. 601 et seq.).
DATES: This information is current as of May 15, 2024.
ADDRESSES: Consumer Financial Protection Bureau, 1700 G Street NW,
Washington, DC 20552.
FOR FURTHER INFORMATION CONTACT: A staff contact is included for each
regulatory item listed herein. If you require this document in an
alternative electronic format, please contact
[email protected].
SUPPLEMENTARY INFORMATION: The CFPB is publishing its Spring 2024
Agenda as part of the Spring 2024 Unified Agenda of Federal Regulatory
and Deregulatory Actions, which is coordinated by the Office of
Management and Budget (OMB) under Executive Order 12866. The agenda
lists the regulatory matters that the CFPB reasonably anticipates, as
of May 15, 2024, that it will have under consideration during the
period from July 1, 2024, to June 30, 2025, as described further
below.\1\ The complete Unified Agenda is available to the public at the
following website: https://www.reginfo.gov.
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\1\ The listing does not include certain routine, frequent, or
administrative matters. The CFPB is reporting information for this
Unified Agenda in a manner consistent with past practice.
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Consistent with procedures established by OMB's Office of
Information and Regulatory Affairs,\2\ the CFPB's active agenda is
divided into five sections: pre-rule stage; proposed rule stage; final
rule stage; long-term actions, completed actions. Generally, the pre-
rule through final rule stages sections list items the CFPB plans to
issue within the next 12 months. The long-term actions are listed for
informational purposes if a regulatory action is anticipated beyond
that one-year time frame. Completed actions are those that have been
published as final or are withdrawn.
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\2\ See https://www.reginfo.gov/public/jsp/eAgenda/UA_About.myjsp.
Rohit Chopra,
Director, Consumer Financial Protection Bureau.
Consumer Financial Protection Bureau--Proposed Rule Stage
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Regulation
Sequence No. Title Identifier No.
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249....................... Fair Credit Reporting Act 3170-AA54
Rulemaking.
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Consumer Financial Protection Bureau--Final Rule Stage
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Regulation
Sequence No. Title Identifier No.
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250....................... Amendments to FIRREA 3170-AA57
Concerning Automated
Valuation Models.
251....................... Required Rulemaking on 3170-AA78
Personal Financial Data
Rights.
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CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)
Proposed Rule Stage
249. Fair Credit Reporting Act Rulemaking [3170-AA54]
Legal Authority: 15 U.S.C. 1681, et seq.
Abstract: Congress enacted the Fair Credit Reporting Act (FCRA) to
ensure fair and accurate credit reporting, promote efficiency in the
banking system, and protect consumer privacy. The law and its
implementing regulations (Regulation V) impose legal duties on consumer
reporting agencies, users of consumer reports, and furnishers of
information to consumer reporting agencies. The consumer credit
reporting industry has consistently been a major source of consumer
complaints, and, since the FCRA's enactment in 1970, advances in
technology have led, particularly in recent years, to a rapid evolution
of the consumer reporting marketplace, including the emergence of
companies using business models that rely on newer technologies and
novel methods to collect and sell consumer data. The CFPB is
considering proposals to regulate many activities of such data brokers
as covered under the FCRA and to address other issues that have arisen
in the years since the FCRA's enactment. In light of recent events and
research, the CFPB is also considering whether medical debts are
necessary and appropriate for consideration by creditors in
underwriting decisions to protect legitimate operational,
transactional, risk, consumer, and other needs, such that they should
continue to be covered by a regulatory exemption allowing their
consideration by creditors. The CFPB is further considering whether
medical debts should be included in consumer reports provided to
creditors.
Timetable:
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Action Date FR Cite
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NPRM................................ 07/00/24
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Laura Stack, Office of Regulations, Consumer
Financial Protection Bureau, Washington, DC 20552, Phone: 202 435-7700.
RIN: 3170-AA54
CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)
Final Rule Stage
250. Amendments to FIRREA Concerning Automated Valuation Models [3170-
AA57]
Legal Authority: 12 U.S.C. 3354
Abstract: The CFPB is participating in an interagency rulemaking
process with the Board of Governors of the Federal
[[Page 66901]]
Reserve System, the Office of the Comptroller of the Currency, the
Federal Deposit Insurance Corporation, the National Credit Union
Administration, and the Federal Housing Finance Agency (collectively,
the Agencies) to develop regulations to implement the amendments made
by the Consumer Financial Protection Act (CFPA) to the Financial
Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA)
concerning automated valuation models. The FIRREA amendments require
implementing regulations for quality control standards for automated
valuation models (AVMs). The Agencies issued a proposed rule to
implement the CFPA's AVM amendments to FIRREA in June 2023.
Timetable:
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Action Date FR Cite
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SBREFA Outline...................... 02/23/22
SBREFA Report....................... 05/13/22
NPRM................................ 06/21/23 88 FR 40638
NPRM Comment Period End............. 08/21/23
Final Rule.......................... 07/00/24
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Pedro De Oliveira, Office of Regulations, Consumer
Financial Protection Bureau, Washington, DC 20552, Phone: 202 435-7700.
RIN: 3170-AA57
251. Required Rulemaking on Personal Financial Data Rights [3170-AA78]
Legal Authority: 12 U.S.C. 5533; 12 U.S.C. 5481
Abstract: Section 1033 of the Consumer Financial Protection Act
(CFPA) provides that, subject to rules prescribed by the CFPB, a
covered entity (for example, a bank) must make available to consumers,
upon request, transaction data and other information concerning a
consumer financial product or service that the consumer obtains from
the covered entity. Section 1033 also states that the CFPB must
prescribe by rule standards to promote the development and use of
standardized formats for information made available to consumers. The
CFPB released a Notice of Proposed Rulemaking in October 2023.
Timetable:
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Action Date FR Cite
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Request for Information............. 11/22/16 81 FR 83806
Principles Statement................ 10/18/17
ANPRM............................... 11/06/20 85 FR 71003
ANPRM Comment Period End............ 02/04/21
SBREFA Outline...................... 10/27/22
SBREFA Report....................... 03/30/23
NPRM................................ 10/31/23 88 FR 74796
NPRM Comment Period End............. 12/29/23
Final Rule.......................... 10/00/24
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Michael Scherzer, Office of Regulations, Consumer
Financial Protection Bureau, Washington, DC 20552, Phone: 202 435-7700.
RIN: 3170-AA78
[FR Doc. 2024-16447 Filed 8-15-24; 8:45 am]
BILLING CODE 4810-AM-P