United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2012_register executive 2012-02-22 article Proposed Rules D09002ee1c7fd6d0d D09002ee1c7fd6d92 United States Bureau of Consumer Financial Protection originator org United States Government Agency or Subagency The Bureau of Consumer Financial Protection (Bureau) is proposing a new regulation pursuant to section 1024 of the Consumer Financial Protection Act of 2010. That provision grants the Bureau authority to supervise certain nonbank covered persons for compliance with Federal consumer financial laws and for other purposes. The Bureau has the authority to supervise nonbank covered persons of all sizes in the residential mortgage, private education lending, and payday lending markets. In addition, the Bureau has the authority to supervise nonbank "larger participant[s]" in markets for other consumer financial products or services. The Bureau must define such "larger participants" by rule, and such an initial rule must be issued by July 21, 2012. In this proposal, the Bureau proposes to define larger participants in the markets for consumer debt collection and consumer reporting. The Bureau intends that this proposal and subsequent initial rule will be followed by a series of rulemakings covering additional markets for consumer financial products and services. The Bureau also proposes to include provisions in this proposal that will facilitate the supervision of nonbank covered persons. 77 FR 9592 https://www.govinfo.gov/app/details/FR-2012-02-17/2012-3775 2012-3775 fr17fe12-14 RIN 3170-AA00 4810-AM-P Docket No. CFPB-2012-0005 https://www.govinfo.gov/app/details/FR-2012-02-17/2012-3775 https://www.govinfo.gov/content/pkg/FR-2012-02-17/html/2012-3775.htm https://www.govinfo.gov/content/pkg/FR-2012-02-17/pdf/2012-3775.pdf Consumer Protection and Credit 17 p. 9592 9608 77 FR 9592 Title 12 Part 1090 12 CFR Part 1090 RIN 3170-AA00 Defining Larger Participants in Certain Consumer Financial Product and Service Markets; Federal Register Vol. 77, Issue PRORULE 2012-3775 BUREAU OF CONSUMER FINANCIAL PROTECTION 2012-04-17 Docket No. CFPB-2012-0005 4810-AM-P 2012-3775 Proposed rule; request for public comment.

The Bureau of Consumer Financial Protection (Bureau) is proposing a new regulation pursuant to section 1024 of the Consumer Financial Protection Act of 2010. That provision grants the Bureau authority to supervise certain nonbank covered persons for compliance with Federal consumer financial laws and for other purposes. The Bureau has the authority to supervise nonbank covered persons of all sizes in the residential mortgage, private education lending, and payday lending markets. In addition, the Bureau has the authority to supervise nonbank "larger participant[s]" in markets for other consumer financial products or services. The Bureau must define such "larger participants" by rule, and such an initial rule must be issued by July 21, 2012. In this proposal, the Bureau proposes to define larger participants in the markets for consumer debt collection and consumer reporting. The Bureau intends that this proposal and subsequent initial rule will be followed by a series of rulemakings covering additional markets for consumer financial products and services. The Bureau also proposes to include provisions in this proposal that will facilitate the supervision of nonbank covered persons.

Comments must be received on or before April 17, 2012. Christopher Young, Senior Counsel, (202) 435-7408, or Nicholas Krafft, Consumer Financial Protection Analyst, (202) 435-7252, Office of Nonbank Supervision, Bureau of Consumer Financial Protection, 1700 G Street NW., Washington, DC 20006. Consumer Protection and Credit Defining Larger Participants in Certain Consumer Financial Product and Service Markets , archives.financialservices.house.gov/hearing110/ospratt061907.pdf factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=ECN_2007_US_56SSSZ4&prodType=table factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=ECN_2007_US_56SSSZ6&prodType=table http://factfinder2.census.gov/faces/help/jsf/pages/metadata.xhtml?lang=en&type=category&id=category.en./ECN/ECN/2007_US/56SSSZ4.MEASURE.RCPTOT#main_content http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=ECN_2007_US_56SSSZ4&prodType=table http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=ECN_2007_US_56SSSZ6&prodType=table http://www.census.gov/econ/census07/ http://www.irs.gov/publications/p538/ar02.html#d0e237 http://www.naicscode.com/search/MoreNAICSDetail.asp?N=561440 http://www.regulations.gov http://www.sba.gov/sites/default/files/Size_Standards_Table.pdf ntia.doc.gov/files/ntia/comments/100402174-0175-01/attachments/Consumer%20Data%20Industry%20Association%20Comments.pdf www.ftc.gov/bcp/workshops/debtcollection/dcwr.pdf www.house.gov/apps/list/hearing/financialsvcs_dem/pratt_testimony.pdf www.newyorkfed.org/research/national_economy/householdcredit/DistrictReport_Q32011.pdf www.sba.gov/sites/default/files/size_standards_methodology.pdf Vol. 77, no. 33 Office of the Federal Register, National Archives and Records Administration 2012-02-17 continuing daily deposited born digital 332 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2012-02-17 P0b002ee181f23d52 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr17fe12 https://www.govinfo.gov/app/details/FR-2012-02-17 https://www.govinfo.gov/content/pkg/FR-2012-02-17/pdf/FR-2012-02-17.pdf https://www.govinfo.gov/content/pkg/FR-2012-02-17/xml/FR-2012-02-17.xml fdlp 9515 9835 DGPO 2012-02-22 2024-06-03 FR-2012-02-17 machine generated eng FR FR-2012-02-17 77 33