[Federal Register Volume 89, Number 230 (Friday, November 29, 2024)]
[Rules and Regulations]
[Pages 94600-94601]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-27978]
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CONSUMER FINANCIAL PROTECTION BUREAU
12 CFR Parts 1070, 1080, 1081, 1082, and 1090
Updates to Supervision and Enforcement Procedures
AGENCY: Consumer Financial Protection Bureau.
ACTION: Final rule.
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SUMMARY: The Consumer Financial Protection Bureau (CFPB) is making
ministerial updates to its procedures to reflect a recent
organizational change.
DATES: This rule is effective on November 29, 2024.
FOR FURTHER INFORMATION CONTACT: George Karithanom, Regulatory
Implementation & Guidance Program Analyst, 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: The CFPB is making limited amendments to
five rules to reflect a recent organizational change. The Division of
Supervision, Enforcement, and Fair Lending has been replaced by two
divisions, the Supervision Division and the Enforcement Division. The
CFPB is transferring certain responsibilities under 12 CFR part 1070,
which relate to disclosure of confidential supervisory information,
from the associate director of the former division to the Supervision
Director as head of the Supervision Division. The CFPB is also updating
nomenclature across all five rules to reflect the establishment of the
new divisions.
[[Page 94601]]
As a rule of agency organization, procedure, or practice, this rule
is exempt from the notice-and-comment rulemaking requirements of the
Administrative Procedure Act.\1\
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\1\ 5 U.S.C. 553(b).
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The CFPB has determined that this rule does 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 approval by the Office of
Management and Budget under the Paperwork Reduction Act.\2\
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\2\ 44 U.S.C. 3501-3521.
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List of Subjects
12 CFR Part 1070
Confidential business information, Consumer protection, Freedom of
information, Privacy.
12 CFR Part 1080
Administrative practice and procedure, Banks, banking, Consumer
protection, Credit, Credit unions, Investments, Law enforcement,
National banks, Savings associations, Trade practices.
12 CFR Part 1081
Administrative practice and procedure, Banks, banking, Consumer
protection, Credit unions, Law enforcement, National banks, Savings
associations, Trade practices.
12 CFR Part 1082
Banks, banking, Consumer protection, Credit unions, Law
enforcement, National banks, Savings associations, State and local
governments.
12 CFR Part 1090
Consumer protection, Credit.
Authority and Issuance
For the reasons set forth above, the Consumer Financial Protection
Bureau amends 12 CFR parts 1070, 1080, 1081, 1082, and 1090 as follows:
PART 1070--DISCLOSURE OF RECORDS AND INFORMATION
0
1. The authority citation for part 1070 continues to read as follows:
Authority: 12 U.S.C. 5481 et seq.; 5 U.S.C. 552; 5 U.S.C. 552a;
18 U.S.C. 1905; 18 U.S.C. 641; 44 U.S.C. ch. 31; 44 U.S.C. ch. 35;
12 U.S.C. 3401 et seq.
0
2. In Sec. 1070.2, revise paragraph (a) to read as follows:
Sec. 1070.2 General definitions.
(a) Supervision Director means the Supervision Director or any CFPB
employee designated by the Director of the CFPB or the Supervision
Director to act under this part.
* * * * *
0
3. In Sec. 1070.42, remove the text ``Associate Director for
Supervision, Enforcement and Fair Lending'' wherever it appears and
add, in its place, the text ``Supervision Director''.
PART 1080--RULES RELATING TO INVESTIGATIONS
0
4. The authority citation for part 1080 continues to read as follows:
Authority: Pub. L. 111-203, title X, 12 U.S.C. 5481 et seq.
0
5. In Sec. 1080.2, remove the definition of ``Office of Enforcement''.
0
6. In addition to the amendment set forth above, in 12 CFR part 1080,
remove the words ``Assistant Director of the Office of Enforcement''
and add, in their place, the words ``Enforcement Director'' in the
following places:
0
a. Section 1080.4;
0
b. Section 1080.6(a), (c) introductory text, (d), (e) introductory
text, and (e)(2);
0
c. Section 1080.10(b); and
0
d. Section 1080.11(c).
0
7. In addition to the amendments set forth above, in 12 CFR part 1080,
remove the words ``Deputy Assistant Directors of the Office of
Enforcement'', and add, in their place, ``Deputy Enforcement
Directors'' in the following places:
0
a. Section 1080.4;
0
b. Section 1080.6(a), (c) introductory text, (d), (e)(2); and
0
c. Section 1080.11(c).
PART 1081--RULES OF PRACTICE FOR ADJUDICATION PROCEEDINGS
0
8. The authority citation for part 1081 continues to read as follows:
Authority: 12 U.S.C. 5512(b)(1), 5563(e).
0
9. In Sec. 1081.103, remove the definition of ``Office of
Enforcement'' and add a definition of ``Enforcement Division'' to read
as follows:
Sec. 1081.103 Definitions.
* * * * *
Enforcement Division means the unit of the Bureau responsible for
enforcement of Federal consumer financial law or other laws enforceable
by the Bureau.
* * * * *
0
10. In addition to the amendment set forth above, in 12 CFR part 1081,
remove the text ``Office of Enforcement'' wherever it appears and add,
in its place, the text ``Enforcement Division''.
PART 1082--STATE OFFICIAL NOTIFICATION RULES
0
11. The authority citation for part 1082 continues to read as follows:
Authority: 12 U.S.C. 5481 et seq.
0
12. Amend Sec. 1082.1 by:
0
a. Removing the text ``Office of Enforcement'' wherever it appears and
adding, in its place, the text ``Enforcement Division''.
0
b. In paragraph (a)(1), removing the words ``office of the Bureau'' and
adding, in their place, the words ``unit of the Bureau''.
PART 1090--DEFINING LARGER PARTICIPANTS OF CERTAIN CONSUMER
FINANCIAL PRODUCT AND SERVICE MARKETS
0
13. The authority citation for part 1090 continues to read as follows:
Authority: 12 U.S.C. 5514(a)(1)(B); 12 U.S.C. 5514(a)(2); 12
U.S.C. 5514(b)(7)(A); and 12 U.S.C. 5512(b)(1).
0
14. In Sec. 1090.101, remove the definition of ``Assistant Director''
and add a definition of ``Supervision Director'' to read as follows:
Sec. 1090.101 Definitions.
* * * * *
Supervision Director means the Supervision Director or any Bureau
employee designated by the Director of the Bureau or the Supervision
Director to act under this part. The Director of the Bureau may perform
the functions of the Supervision Director under this part.
* * * * *
0
15. In Sec. 1090.103, remove the text ``Assistant Director'' wherever
it appears and add, in its place, the text ``Supervision Director''.
Rohit Chopra,
Director, Consumer Financial Protection Bureau.
[FR Doc. 2024-27978 Filed 11-27-24; 8:45 am]
BILLING CODE 4810-AM-P