81 FR 19467 - Submission of Credit Card Agreements Under the Truth in Lending Act (Regulation Z)

BUREAU OF CONSUMER FINANCIAL PROTECTION

Federal Register Volume 81, Issue 65 (April 5, 2016)

Page Range		19467-19467
FR Document		2016-07815

The Truth in Lending Act (TILA) and Regulation Z require credit card issuers to submit their currently-offered credit card agreements to the Bureau of Consumer Financial Protection (Bureau), to be posted on the Bureau's Web site. In April 2015, the Bureau suspended that submission obligation for a period of one year. That suspension has expired, and the next submission is due on the first business day on or after April 30, 2016 (i.e., May 2, 2016). Credit card issuers should visit the Bureau's Web site for instructions on submitting credit card agreements.

Federal Register, Volume 81 Issue 65 (Tuesday, April 5, 2016)

[Federal Register Volume 81, Number 65 (Tuesday, April 5, 2016)]
[Rules and Regulations]
[Page 19467]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-07815]



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Rules and Regulations
                                                Federal Register
________________________________________________________________________

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.

The Code of Federal Regulations is sold by the Superintendent of Documents. 
Prices of new books are listed in the first FEDERAL REGISTER issue of each 
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Federal Register / Vol. 81, No. 65 / Tuesday, April 5, 2016 / Rules 
and Regulations

[[Page 19467]]



BUREAU OF CONSUMER FINANCIAL PROTECTION

12 CFR Part 1026


Submission of Credit Card Agreements Under the Truth in Lending 
Act (Regulation Z)

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice of expiration of suspension.

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SUMMARY: The Truth in Lending Act (TILA) and Regulation Z require 
credit card issuers to submit their currently-offered credit card 
agreements to the Bureau of Consumer Financial Protection (Bureau), to 
be posted on the Bureau's Web site. In April 2015, the Bureau suspended 
that submission obligation for a period of one year. That suspension 
has expired, and the next submission is due on the first business day 
on or after April 30, 2016 (i.e., May 2, 2016). Credit card issuers 
should visit the Bureau's Web site for instructions on submitting 
credit card agreements.

DATES: Credit card issuers are required to submit to the Bureau the 
agreements they offered to the public as of March 31, 2016, on or 
before May 2, 2016.

FOR FURTHER INFORMATION CONTACT: Thomas L. Devlin, Counsel, or Kristine 
M. Andreassen, Senior Counsel, Office of Regulations, Consumer 
Financial Protection Bureau, 1700 G Street NW., Washington, DC 20552, 
at 202-435-7700.

SUPPLEMENTARY INFORMATION: In April 2015, the Bureau amended Regulation 
Z (12 CFR part 1026), which implements TILA, and the official 
interpretation to that regulation, to temporarily suspend card issuers' 
obligations to submit credit card agreements to the Bureau for a period 
of one year i.e., the four quarterly submissions due to the Bureau by 
the first business day on or after April 30, 2015; July 31, 2015; 
October 31, 2015; and January 31, 2016, respectively.\1\
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    \1\ 80 FR 21153 (Apr. 17, 2015).
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    The suspension began with the submission that would have been due 
on the first business day on or after April 30, 2015, and ended with 
the submission that would have been due on the first business day on or 
after January 31, 2016. Accordingly, card issuers must resume 
submitting agreements to the Bureau with the submission due on the 
first business day on or after April 30, 2016 (i.e., May 2, 2016), 
covering credit card agreements that were offered to the public as of 
March 31, 2016.\2\ Regulation Z Sec.  1026.58(g) and comment 58(g)-2 
describe which agreements must be submitted to the Bureau as part of 
the submission due on May 2, 2016.
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    \2\ 12 CFR 1026.58(g)(1).
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    Regulation Z provides that card issuers shall submit their 
currently-offered agreements ``in the form and manner specified by the 
Bureau.'' \3\ Updated submission instructions are available through the 
Bureau's Web site.\4\ Card issuers' obligations to post currently-
offered credit card agreements on their publicly available Web sites, 
and to make agreements for open accounts available to cardholders, were 
not affected by the suspension.\5\
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    \3\ 12 CFR 1026.58(c)(1).
    \4\ http://www.consumerfinance.gov/credit-cards/agreements/.
    \5\ 12 CFR 1026.58(d), (e), (g)(2).

    Dated: March 28, 2016.
Richard Cordray,
Director, Bureau of Consumer Financial Protection.
[FR Doc. 2016-07815 Filed 4-4-16; 8:45 am]
 BILLING CODE 4810-AM-P

19467

Rules and Regulations Federal Register
Vol. 81, No. 65

Tuesday, April 5, 2016

This section of the FEDERAL REGISTER 2015; July 31, 2015; October 31, 2015; ACTION: Final rule.
contains regulatory documents having general and January 31, 2016, respectively.1
applicability and legal effect, most of which The suspension began with the SUMMARY: We are adopting a new
are keyed to and codified in the Code of submission that would have been due airworthiness directive (AD) for certain
Federal Regulations, which is published under on the first business day on or after Airbus Model A318, A319, A320, and
50 titles pursuant to 44 U.S.C. 1510. April 30, 2015, and ended with the A321 series airplanes. This AD was
submission that would have been due prompted by a report that, during the
The Code of Federal Regulations is sold by
the Superintendent of Documents. Prices of on the first business day on or after assembly process, several gaps between
new books are listed in the first FEDERAL January 31, 2016. Accordingly, card the two parts of the girt bar fittings for
REGISTER issue of each week. issuers must resume submitting the aft passenger doors were found to
agreements to the Bureau with the exceed tolerances. This AD requires an
submission due on the first business day inspection of the gap between the two
BUREAU OF CONSUMER FINANCIAL on or after April 30, 2016 (i.e., May 2, parts of the girt bar fittings on left-hand
PROTECTION 2016), covering credit card agreements (LH) and right-hand (RH) aft passenger
that were offered to the public as of doors, and corrective actions if
12 CFR Part 1026 March 31, 2016.2 Regulation Z necessary. We are issuing this AD to
§ 1026.58(g) and comment 58(g)–2 detect and correct incorrect gaps
Submission of Credit Card Agreements describe which agreements must be between the girt bar fittings. Detachment
Under the Truth in Lending Act submitted to the Bureau as part of the of a girt bar could lead to the separation
(Regulation Z) submission due on May 2, 2016. of the slide or slide-raft from the
AGENCY: Bureau of Consumer Financial Regulation Z provides that card fuselage, making the emergency exit
Protection. issuers shall submit their currently- inoperative, which could impede an
offered agreements ‘‘in the form and emergency evacuation.
ACTION: Notice of expiration of
manner specified by the Bureau.’’ 3 DATES: This AD becomes effective May
suspension. Updated submission instructions are 10, 2016.
SUMMARY: The Truth in Lending Act available through the Bureau’s Web The Director of the Federal Register
(TILA) and Regulation Z require credit site.4 Card issuers’ obligations to post approved the incorporation by reference
card issuers to submit their currently- currently-offered credit card agreements of a certain publication listed in this AD
offered credit card agreements to the on their publicly available Web sites, as of May 10, 2016.
Bureau of Consumer Financial and to make agreements for open
ADDRESSES: For service information
Protection (Bureau), to be posted on the accounts available to cardholders, were
identified in this final rule, contact
Bureau’s Web site. In April 2015, the not affected by the suspension.5
Airbus, Airworthiness Office—EIAS, 1
Bureau suspended that submission Dated: March 28, 2016. Rond Point Maurice Bellonte, 31707
obligation for a period of one year. That Richard Cordray, Blagnac Cedex, France; telephone +33 5
suspension has expired, and the next Director, Bureau of Consumer Financial 61 93 36 96; fax +33 5 61 93 44 51; email
submission is due on the first business Protection. account.airworth-eas@airbus.com;
day on or after April 30, 2016 (i.e., May [FR Doc. 2016–07815 Filed 4–4–16; 8:45 am] Internet http://www.airbus.com. You
2, 2016). Credit card issuers should visit BILLING CODE 4810–AM–P may view this referenced service
the Bureau’s Web site for instructions information at the FAA, Transport
on submitting credit card agreements. Airplane Directorate, 1601 Lind Avenue
DATES: Credit card issuers are required DEPARTMENT OF TRANSPORTATION SW., Renton, WA. For information on
to submit to the Bureau the agreements the availability of this material at the
they offered to the public as of March Federal Aviation Administration FAA, call 425–227–1221. It is also
31, 2016, on or before May 2, 2016. available on the Internet at http://
14 CFR Part 39 www.regulations.gov by searching for
FOR FURTHER INFORMATION CONTACT:
Thomas L. Devlin, Counsel, or Kristine [Docket No. FAA–2014–1047; Directorate and locating Docket No. FAA–2014–
M. Andreassen, Senior Counsel, Office Identifier 2014–NM–157–AD; Amendment 1047.
of Regulations, Consumer Financial 39–18449; AD 2016–07–04]
Examining the AD Docket
Protection Bureau, 1700 G Street NW., RIN 2120–AA64
Washington, DC 20552, at 202–435– You may examine the AD docket on
7700. Airworthiness Directives; Airbus the Internet at http://
Airplanes www.regulations.gov by searching for
SUPPLEMENTARY INFORMATION: In April and locating Docket No. FAA–2014–
2015, the Bureau amended Regulation Z AGENCY: Federal Aviation 1047; or in person at the Docket
(12 CFR part 1026), which implements Administration (FAA), Department of Management Facility between 9 a.m.
TILA, and the official interpretation to Transportation (DOT). and 5 p.m., Monday through Friday,
Lhorne on DSK5TPTVN1PROD with RULES

that regulation, to temporarily suspend except Federal holidays. The AD docket
card issuers’ obligations to submit credit 1 80 FR 21153 (Apr. 17, 2015). contains this AD, the regulatory
2 12 CFR 1026.58(g)(1).
card agreements to the Bureau for a evaluation, any comments received, and
3 12 CFR 1026.58(c)(1).
period of one year i.e., the four quarterly 4 http://www.consumerfinance.gov/credit-cards/ other information. The street address for
submissions due to the Bureau by the agreements/. the Docket Office (telephone 800–647–
first business day on or after April 30, 5 12 CFR 1026.58(d), (e), (g)(2). 5527) is Docket Management Facility,

VerDate Sep<11>2014 13:15 Apr 04, 2016 Jkt 238001 PO 00000 Frm 00001 Fmt 4700 Sfmt 4700 E:\FR\FM\05APR1.SGM 05APR1

Document Created: 2018-02-07 13:53:42
Document Modified: 2018-02-07 13:53:42

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Rules and Regulations
Action		Notice of expiration of suspension.
Dates		Credit card issuers are required to submit to the Bureau the agreements they offered to the public as of March 31, 2016, on or before May 2, 2016.
Contact		Thomas L. Devlin, Counsel, or Kristine M. Andreassen, Senior Counsel, Office of Regulations, Consumer Financial Protection Bureau, 1700 G Street NW., Washington, DC 20552, at 202-435-7700.
FR Citation		81 FR 19467