83 FR 12286 - Request for Information Regarding the Bureau's Adopted Regulations and New Rulemaking Authorities
BUREAU OF CONSUMER FINANCIAL PROTECTION Federal Register Volume 83, Issue 55 (March 21, 2018)
Federal Register Volume 83, Issue 55 (March 21, 2018)
| Page Range | 12286-12289 | |
| FR Document | 2018-05612 |
[Federal Register Volume 83, Number 55 (Wednesday, March 21, 2018)] [Proposed Rules] [Pages 12286-12289] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-05612] ----------------------------------------------------------------------- BUREAU OF CONSUMER FINANCIAL PROTECTION [Docket No. CFPB-2018-0011] 12 CFR Chapter X Request for Information Regarding the Bureau's Adopted Regulations and New Rulemaking Authorities AGENCY: Bureau of Consumer Financial Protection. ACTION: Request for information. ----------------------------------------------------------------------- SUMMARY: The Bureau of Consumer Financial Protection (Bureau) is seeking comments and information from interested parties to assist the Bureau in considering whether, consistent with its statutory authority to prescribe rules pursuant to the Federal consumer financial laws, the Bureau should amend those rules it has promulgated since its creation or issue certain new rules. DATES: Comments must be received by June 19, 2018. ADDRESSES: You may submit responsive information and other comments, identified by Docket No. CFPB-2018-0011, by any of the following methods:Electronic: Go to http://www.regulations.gov. Follow the instructions for submitting comments. Email: [email protected]. Include Docket No. CFPB-2018-0011 in the subject line of the message. Mail: Comment Intake, Consumer Financial Protection Bureau, 1700 G Street NW, Washington, DC 20552. Hand Delivery/Courier: Comment Intake, Consumer Financial Protection Bureau, 1700 G Street NW, Washington, DC 20552. Instructions: The Bureau encourages the early submission of comments. All submissions must include the document title and docket number. Please note the number of the topic on which you are commenting at the top of each response (you do not need to address all topics). Because paper mail in the Washington, DC area and at the Bureau is subject to delay, commenters are encouraged to submit comments electronically. In general, all comments received will be posted without change to http://www.regulations.gov. In addition, comments will be available for public inspection and copying at 1700 G Street NW, Washington, DC 20552, on official business days between the hours of 10 a.m. and 5 p.m. eastern time. You can make an appointment to inspect the documents by telephoning 202-435-7275. All submissions in response to this request for information, including [[Page 12287]] attachments and other supporting materials, will become part of the public record and subject to public disclosure. Proprietary information or sensitive personal information, such as account numbers or Social Security numbers, or names of other individuals, should not be included. Submissions will not be edited to remove any identifying or contact information. FOR FURTHER INFORMATION CONTACT: Thomas L. Devlin and Kristin McPartland, Senior Counsels, Office of Regulations, at 202-435-7700. If you require this document in an alternative electronic format, please contact [email protected]. SUPPLEMENTARY INFORMATION: Congress established the Bureau in the Dodd- Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and therein set forth the Bureau's purpose, objectives, and functions.\1\ Pursuant to that Act, on July 21, 2011, the ``consumer financial protection functions'' previously vested in certain other Federal agencies transferred to the Bureau.\2\ The term ``consumer financial protection function'' is defined to include ``all authority to prescribe rules or issue orders or guidelines pursuant to any Federal consumer financial law, including performing appropriate functions to promulgate and review such rules, orders, and guidelines.'' \3\ The Dodd-Frank Act in turn defines Federal consumer financial law broadly to include ``the provisions of [title X of the Dodd-Frank Act], the enumerated consumer laws, the laws for which authorities are transferred under subtitles F and H, and any rule or order prescribed by the Bureau under [title X], an enumerated consumer law, or pursuant to the authorities transferred under subtitles F and H.'' \4\ --------------------------------------------------------------------------- \1\ Public Law 111-203, 124 Stat. 2081 (2010) (codified at 15 U.S.C. 1693a et seq.). Section 1021 of the Dodd-Frank Act states that the Bureau shall seek to implement and, where applicable, enforce Federal consumer financial law consistently for the purpose of ensuring that all consumers have access to markets for consumer financial products and services and that markets for consumer financial products and services are fair, transparent, and competitive. Section 1021 also authorized the Bureau to exercise its authorities under Federal consumer financial law for the purposes of ensuring that, with respect to consumer financial products and services, five specific objectives are met. 12 U.S.C. 5511. \2\ 12 U.S.C. 5581. \3\ 12 U.S.C. 5581(a)(1). \4\ 12 U.S.C. 5481(14). --------------------------------------------------------------------------- Accordingly, Congress generally transferred to the Bureau rulemaking authority for Federal consumer financial laws previously vested in certain other Federal agencies, and the Bureau thereafter assumed responsibility over the various regulations that these agencies had issued under this rulemaking authority (the ``Inherited Regulations'').\5\ The Dodd-Frank Act also provided new rulemaking authorities to the Bureau under the Federal consumer financial laws.\6\ Since the Bureau's creation, it has prescribed a number of rules under Federal consumer financial law in rulemakings mandated by Congress, as well as in discretionary rulemakings. These Bureau-issued rules and the new authorities created under the Dodd-Frank Act are referred to collectively in this RFI as the ``Adopted Regulations.'' The Adopted Regulations have often amended the Inherited Regulations. --------------------------------------------------------------------------- \5\ The Bureau generally restated these regulations first through a series of interim final rules published in the Federal Register and subsequently through a final rule. 81 FR 25323 (Apr. 28, 2016). Bureau rules are generally set forth in title 12, Chapter X of the Code of Federal Regulations. \6\ For example, section 1089 of the Dodd-Frank Act amended the Fair Debt Collection Practices Act to authorize the Bureau to ``prescribe rules with respect to the collection of debts by debt collectors,'' as defined in the Act. See 15 U.S.C. 1692l(d); 78 FR 67847, 67852 (Nov. 12, 2013). --------------------------------------------------------------------------- The Bureau's Rulemaking Authority. The Dodd-Frank Act states that the Bureau is authorized to ``exercise its authorities under Federal consumer financial law to administer, enforce, and otherwise implement the provisions of Federal consumer financial law.'' \7\ The Dodd-Frank Act further authorizes the Director of the Bureau to prescribe rules as may be necessary or appropriate to enable the Bureau to administer and carry out the purposes and objectives of the Federal consumer financial laws, which include enumerated consumer laws as well as provisions of the Dodd-Frank Act, and to prevent evasions thereof.\8\ --------------------------------------------------------------------------- \7\ 12 U.S.C. 5512(a). \8\ 12 U.S.C. 5512(b)(1). --------------------------------------------------------------------------- Existing Bureau Work to Examine Adopted Regulations. Section 1022(d) of the Dodd-Frank Act requires the Bureau to conduct an assessment of each significant rule or order adopted by the Bureau under Federal consumer financial law. The Bureau must publish a report of the assessment not later than five years after the effective date of such rule or order. The assessment must address, among other relevant factors, the rule's effectiveness in meeting the purposes and objectives of title X of the Dodd-Frank Act and the specific goals stated by the Bureau. The assessment also must reflect available evidence and any data that the Bureau reasonably may collect. Before publishing a report of its assessment, the Bureau must invite public comment on recommendations for modifying, expanding, or eliminating the significant rule or order.\9\ More generally, the Dodd-Frank Act also states that the Bureau is authorized to exercise its authorities under Federal consumer financial law for, among other objectives, ``ensuring that, with respect to consumer financial products and services . . . outdated, unnecessary, or unduly burdensome regulations are regularly identified and addressed in order to reduce unwarranted regulatory burdens.'' \10\ As discussed further below, the Bureau has issued three Requests for Information to date announcing section 1022(d) assessments of specific Adopted Regulations and seeking comment on the assessments. --------------------------------------------------------------------------- \9\ 12 U.S.C. 5512(d). \10\ 12 U.S.C. 5511(b)(3). --------------------------------------------------------------------------- Overview of This Request for Information The Bureau is using this request for information (RFI) to seek public input regarding the substance of the Adopted Regulations, including whether the Bureau should issue additional rules. The Bureau encourages comments from all interested members of the public. The Bureau anticipates that the responding public may include (among others) entities and their service providers subject to Bureau rules, trade associations that represent these entities, individual consumers, consumer advocates, regulators, and researchers or members of academia. The Bureau previously issued an RFI regarding its rulemaking processes, and plans to issue an RFI about the Bureau's regulatory implementation and guidance functions. The Bureau also plans to issue an RFI regarding the Inherited Regulations. Accordingly, the purpose of this RFI is to seek feedback on the content of the Adopted Regulations, not the Bureau's rulemaking processes, implementation initiatives that occur after the issuance of a final rule, or the Inherited Regulations. Also please note that the Bureau is not requesting comment on any pending rulemaking for which the Bureau has issued a Notice of Proposed Rulemaking or otherwise solicited public comment. The Adopted Regulations. The Adopted Regulations include rulemakings adopted under Federal consumer financial law and issued by the Bureau since the designated transfer date in 2011, including rules that were adopted pursuant to specific instructions from Congress.\11\ The term [[Page 12288]] also includes new rulemaking authorities given to the Bureau by the Dodd-Frank Act under the Federal consumer financial laws. The Adopted Regulations generally include all final rulemakings that the Bureau issued after providing notice and seeking public comment, including any accompanying Official Interpretations (commentary) issued by the Bureau. However, the Bureau is not requesting feedback at this time on its 2015 rule under the Home Mortgage Disclosure Act (nor that rule's subsequent amendments) \12\ or its 2017 rule entitled ``Payday, Vehicle Title, and Certain High-Cost Installment Loans,'' \13\ because the Bureau has previously announced that it intends to engage in rulemaking processes to reconsider those rules. --------------------------------------------------------------------------- \11\ Examples of larger rules issued by the Bureau that would fall under the definition of ``Adopted Regulations'' include the rules the Bureau promulgated pursuant to the Dodd-Frank Act to govern mortgage servicing, mortgage origination, integrated mortgage disclosures, and remittance transfers, and also include discretionary rules the Bureau has adopted such as the rule governing prepaid accounts. This list is non-exclusive; a full list of final rules issued by the Bureau is available at https://www.consumerfinance.gov/policy-compliance/rulemaking/final-rules/. \12\ 80 FR 66127 (Oct. 28, 2015), as subsequently amended. \13\ 82 FR 54472 (Nov. 17, 2017). --------------------------------------------------------------------------- The Bureau also previously has announced that it is conducting assessments, pursuant to section 1022(d) of the Dodd-Frank Act, of certain final Bureau rules concerning remittance transfers, mortgage servicing under the Real Estate Settlement Procedures Act, and ability- to-repay and qualified mortgage standards.\14\ As part of those assessments, the Bureau previously solicited recommendations for modifying, expanding, or eliminating these rules in accordance with section 1022(d)(3). The Bureau will consider for purposes of this RFI, and to the extent relevant, all comments previously received in connection with the assessments. Although respondents to this RFI are free to comment on those rules currently under assessment, respondents should not feel any obligation to include in their responses to this RFI suggestions or observations previously made in the context of those assessments. --------------------------------------------------------------------------- \14\ 77 FR 6194 (Feb. 7, 2012), 78 FR 10695 (Feb. 14, 2013), and 78 FR 6408 (Jan. 30, 2013), each as subsequently amended. --------------------------------------------------------------------------- Suggested Topics for Commenters To allow the Bureau to more effectively evaluate suggestions, the Bureau requests that, where possible, comments include: Specific suggestions regarding any potential updates or modifications to the Adopted Regulations, consistent with the laws providing the Bureau with rulemaking authority and the Bureau's regulatory and statutory purposes and objectives, and including, in as much detail as possible, the nature of the requested change, and supporting data or other information on impacts and costs of the Adopted Regulations and on the suggested changes thereto; and Specific identification of any aspects of the Adopted Regulations that should not be modified, consistent with the laws providing the Bureau with rulemaking authority and the Bureau's regulatory and statutory purposes and objectives, and including, in as much detail as possible, supporting data or other information on impacts and costs, or information related to consumer and public benefit resulting from these rules. The following list represents a preliminary attempt by the Bureau to identify considerations relevant in determining where modifications of the Adopted Regulations or further exercise of the Bureau's rulemaking authorities may be appropriate. This non-exhaustive list is meant to assist in the formulation of comments and is not intended to restrict the issues that may be addressed. The Bureau requests that, in addressing these questions or others, commenters identify with specificity the Bureau rules at issue, providing legal citations to specific regulations or statutes where appropriate and available. The Bureau invites commenters to identify the products or services that would be affected by any recommendations made by those commenters. Please feel free to comment on some or all of the questions below and on some or all of the Adopted Regulations, but be sure to indicate on which area you are commenting. The Bureau encourages commenters to make their best efforts to limit their comments to the Adopted Regulations; however, the Bureau will consider all comments received under the Inherited Regulations and Adopted Regulations RFIs together. From all of the suggestions, commenters are requested to offer their highest priorities, along with their explanation of how or why they have prioritized suggestions. Commenters are asked to single out their top priority. Suggestions should focus on revisions that the Bureau could implement consistent with its authorities and without Congressional action. The Bureau is seeking feedback on all aspects of the Adopted Regulations, including but not limited to: 1. Aspects of the Adopted Regulations that: a. Should be tailored to particular types of institutions or to institutions of a particular size; b. Create unintended consequences; c. Overlap or conflict with other laws or regulations in a way that makes it difficult or particularly burdensome for institutions to comply; d. Are incompatible or misaligned with new technologies, including by limiting providers' ability to deliver, electronically, mandatory disclosures or other information that may be relevant to consumers; or e. Could be modified to provide consumers greater protection from the incidence and effects of identity theft. 2. Changes the Bureau could make to the Adopted Regulations, consistent with its statutory authority, to more effectively meet the statutory purposes and objectives set forth in the Federal consumer financial laws, as well as the Bureau's specific goals for the particular Adopted Regulation. 3. Changes the Bureau could make to the Adopted Regulations, consistent with its statutory authority, that would advance the following statutory purposes and objectives as set forth in section 1021 of the Dodd-Frank Act: a. The statutory purposes set forth in section 1021(a) are: i. All consumers have access to markets for consumer financial products and services; and ii. Markets for consumer financial products and services are fair, transparent, and competitive. b. The statutory objectives set forth in section 1021(b) are: i. Consumers are provided with timely and understandable information to make responsible decisions about financial transactions; ii. Consumers are protected from unfair, deceptive, or abusive acts and practices and from discrimination; iii. Outdated, unnecessary, or unduly burdensome regulations are regularly identified and addressed in order to reduce unwarranted regulatory burdens; iv. Federal consumer financial law is enforced consistently in order to promote fair competition; and v. Markets for consumer financial products and services operate transparently and efficiently to facilitate access and innovation. 4. Pilots, field tests, demonstrations, or other activities that the Bureau could launch to better quantify benefits and costs of potential revisions to the Adopted Regulations, or to make compliance with the Adopted Regulations more efficient and effective. 5. Areas where the Bureau has not exercised the full extent of its rulemaking authority in connection with a specific Adopted Regulation or with regard to rulemaking authorities created by the Dodd-Frank Act under [[Page 12289]] the Federal consumer financial laws, and where rulemaking would be beneficial and align with the purposes and objectives of the applicable Federal consumer financial laws. Authority: 12 U.S.C. 5511(c). Dated: March 14, 2018. Mick Mulvaney, Acting Director, Bureau of Consumer Financial Protection. [FR Doc. 2018-05612 Filed 3-20-18; 8:45 am] BILLING CODE 4810-AM-P
![12286 Federal Register / Vol. 83, No. 55 / Wednesday, March 21, 2018 / Proposed Rules
impermissible proxy vote? What risks bylaws’ usefulness and ease of use. BUREAU OF CONSUMER FINANCIAL
are associated with the use of these Further, the Board invites stakeholders PROTECTION
products? Would the use of these kinds that have previously commented on [Docket No. CFPB–2018–0011]
of solutions encourage greater member proposed changes to the standard FCU
participation from those individuals bylaws to offer additional comments 12 CFR Chapter X
who largely rely on mobile financial based on recent experiences.
services and avoid traditional brick-and- Request for Information Regarding the
The Board asks stakeholders, who are
mortar branches? Could this technology Bureau’s Adopted Regulations and
be provided through a mobile requesting a specific change to a
New Rulemaking Authorities
application? provision of the standard FCU bylaws,
to please provide a brief statement AGENCY: Bureau of Consumer Financial
5. Should the Board eliminate overlaps regarding whether the FCU Act would Protection.
between the NCUA’s regulations and the permit such a change. Some provisions ACTION: Request for information.
FCU bylaws? of the standard FCU bylaws are drawn
SUMMARY: The Bureau of Consumer
In reviewing the standard FCU directly from the FCU Act and,
Financial Protection (Bureau) is seeking
bylaws, NCUA staff identified a number therefore, may not be legally amended.
comments and information from
of the NCUA’s regulations that overlap, For example, § 109 of the FCU Act interested parties to assist the Bureau in
to some extent, with the standard FCU provides that an FCU may not charge considering whether, consistent with its
bylaws. Many of the overlapping any other fee for FCU membership other statutory authority to prescribe rules
standard FCU bylaws provisions are than a ‘‘uniform entrance fee if required pursuant to the Federal consumer
located in Article XVI and address by the board of directors.’’ 22 This financial laws, the Bureau should
issues such as FCU member provision of the FCU Act prohibits amend those rules it has promulgated
confidentiality, conflicts of interest, FCUs from imposing monthly since its creation or issue certain new
record retention, and the availability of membership fees and other similar rules.
books and records to FCU members. Do charges 23 and was codified in the
these duplicative regulatory and bylaws DATES: Comments must be received by
standard FCU bylaws to simplify June 19, 2018.
requirements increase compliance
compliance obligations for FCUs.24 ADDRESSES: You may submit responsive
burden in a manner that outweighs any
Accordingly, any request to change this information and other comments,
measurable member benefit? If so, the
Board requests specific stakeholder provision or any similar provisions that identified by Docket No. CFPB–2018–
comments on how to address these correspond to a statutory requirement 0011, by any of the following methods:
provisions. set out in the FCU Act, regardless of • Electronic: Go to http://
If such overlap is problematic, a how compelling the stakeholder’s www.regulations.gov. Follow the
solution the Board could consider is to arguments, would be impermissible. In instructions for submitting comments.
remove the overlapping provisions from providing this brief supporting • Email: FederalRegisterComments@
the standard FCU bylaws to the greatest statement, the Board asks that cfpb.gov. Include Docket No. CFPB–
extent possible and make appropriate stakeholders not only consider whether 2018–0011 in the subject line of the
adjustments to the NCUA’s regulations the statutory text would permit such a message.
to maintain their substantive change but also whether the change fits • Mail: Comment Intake, Consumer
protections. For example, should the within the spirit and intent of the FCU Financial Protection Bureau, 1700 G
Board remove Article XVI, § 4 of the Act.25 Street NW, Washington, DC 20552.
standard FCU bylaws, which governs • Hand Delivery/Courier: Comment
By the National Credit Union Intake, Consumer Financial Protection
conflicts of interests for institutional- Administration Board on March 15, 2018.
affiliated parties? 18 If so, the Board Bureau, 1700 G Street NW, Washington,
could make appropriate amendments to Gerard Poliquin, DC 20552.
Secretary of the Board. Instructions: The Bureau encourages
its conflicts of interest rule, § 701.4,19 to
the early submission of comments. All
expand the scope of that rule to cover [FR Doc. 2018–05625 Filed 3–20–18; 8:45 am]
submissions must include the document
all institution-affiliated parties of an BILLING CODE 7535–01–P
title and docket number. Please note the
FCU rather than just FCU directors.
number of the topic on which you are
Similarly, should the Board remove
commenting at the top of each response
Article XVI, §§ 5 and 6 and make
(you do not need to address all topics).
appropriate changes to the NCUA’s rule
Because paper mail in the Washington,
governing FCU member access to FCU
DC area and at the Bureau is subject to
records, § 701.3,20 and the rule
delay, commenters are encouraged to
governing record retention, part 749? 21
submit comments electronically. In
III. Request for General Comments general, all comments received will be
In addition to requesting specific posted without change to http://
comments addressing the issues www.regulations.gov. In addition,
22 12 U.S.C. 1759.
identified above, the Board also requests comments will be available for public
23 See Monthly Membership Fees, OGC Op. Letter inspection and copying at 1700 G Street
sradovich on DSK3GMQ082PROD with PROPOSALS
stakeholder comments on any aspect of 15–0902 (May 1, 2015).
the standard FCU bylaws that NW, Washington, DC 20552, on official
24 See 12 CFR 701, App. A, Art. II, § 2.
commenters wish to bring to the Board’s business days between the hours of 10
25 It is a ‘‘familiar rule that a thing may be within
attention to improve the standard FCU a.m. and 5 p.m. eastern time. You can
the letter of a statute and yet not within the statute,
because not within its spirit nor within the
make an appointment to inspect the
18 12 CFR 701, App. A, Art. XVI, § 4. intention of its makers.’’ Mova Pharmaceutical documents by telephoning 202–435–
19 12 CFR 701.4. Corp. v. Shalala, 140 F.3d 1060, 1068 (D.C. Cir. 7275.
20 12 CFR 701.3. 1998) (citing Holy Trinity Church v. U.S., 143 U.S. All submissions in response to this
21 12 CFR 749. 457, 459–60 (1892)). request for information, including
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attachments and other supporting the various regulations that these eliminating the significant rule or
materials, will become part of the public agencies had issued under this order.9 More generally, the Dodd-Frank
record and subject to public disclosure. rulemaking authority (the ‘‘Inherited Act also states that the Bureau is
Proprietary information or sensitive Regulations’’).5 The Dodd-Frank Act authorized to exercise its authorities
personal information, such as account also provided new rulemaking under Federal consumer financial law
numbers or Social Security numbers, or authorities to the Bureau under the for, among other objectives, ‘‘ensuring
names of other individuals, should not Federal consumer financial laws.6 Since that, with respect to consumer financial
be included. Submissions will not be the Bureau’s creation, it has prescribed products and services . . . outdated,
edited to remove any identifying or a number of rules under Federal unnecessary, or unduly burdensome
contact information. consumer financial law in rulemakings regulations are regularly identified and
FOR FURTHER INFORMATION CONTACT: mandated by Congress, as well as in addressed in order to reduce
Thomas L. Devlin and Kristin discretionary rulemakings. These unwarranted regulatory burdens.’’ 10 As
McPartland, Senior Counsels, Office of Bureau-issued rules and the new discussed further below, the Bureau has
Regulations, at 202–435–7700. If you authorities created under the Dodd- issued three Requests for Information to
require this document in an alternative Frank Act are referred to collectively in date announcing section 1022(d)
electronic format, please contact CFPB_ this RFI as the ‘‘Adopted Regulations.’’ assessments of specific Adopted
Accessibility@cfpb.gov. The Adopted Regulations have often Regulations and seeking comment on
amended the Inherited Regulations. the assessments.
SUPPLEMENTARY INFORMATION: Congress The Bureau’s Rulemaking Authority.
established the Bureau in the Dodd- The Dodd-Frank Act states that the Overview of This Request for
Frank Wall Street Reform and Consumer Bureau is authorized to ‘‘exercise its Information
Protection Act (Dodd-Frank Act) and authorities under Federal consumer The Bureau is using this request for
therein set forth the Bureau’s purpose, financial law to administer, enforce, and information (RFI) to seek public input
objectives, and functions.1 Pursuant to otherwise implement the provisions of regarding the substance of the Adopted
that Act, on July 21, 2011, the Federal consumer financial law.’’ 7 The Regulations, including whether the
‘‘consumer financial protection Dodd-Frank Act further authorizes the Bureau should issue additional rules.
functions’’ previously vested in certain Director of the Bureau to prescribe rules The Bureau encourages comments from
other Federal agencies transferred to the as may be necessary or appropriate to all interested members of the public.
Bureau.2 The term ‘‘consumer financial enable the Bureau to administer and The Bureau anticipates that the
protection function’’ is defined to carry out the purposes and objectives of responding public may include (among
include ‘‘all authority to prescribe rules the Federal consumer financial laws, others) entities and their service
or issue orders or guidelines pursuant to which include enumerated consumer providers subject to Bureau rules, trade
any Federal consumer financial law, laws as well as provisions of the Dodd- associations that represent these
including performing appropriate Frank Act, and to prevent evasions entities, individual consumers,
functions to promulgate and review thereof.8 consumer advocates, regulators, and
such rules, orders, and guidelines.’’ 3 Existing Bureau Work to Examine researchers or members of academia.
The Dodd-Frank Act in turn defines Adopted Regulations. Section 1022(d) of The Bureau previously issued an RFI
Federal consumer financial law broadly the Dodd-Frank Act requires the Bureau regarding its rulemaking processes, and
to include ‘‘the provisions of [title X of to conduct an assessment of each plans to issue an RFI about the Bureau’s
the Dodd-Frank Act], the enumerated significant rule or order adopted by the regulatory implementation and
consumer laws, the laws for which Bureau under Federal consumer guidance functions. The Bureau also
authorities are transferred under financial law. The Bureau must publish plans to issue an RFI regarding the
subtitles F and H, and any rule or order a report of the assessment not later than Inherited Regulations. Accordingly, the
prescribed by the Bureau under [title X], five years after the effective date of such purpose of this RFI is to seek feedback
an enumerated consumer law, or rule or order. The assessment must on the content of the Adopted
pursuant to the authorities transferred address, among other relevant factors, Regulations, not the Bureau’s
under subtitles F and H.’’ 4 the rule’s effectiveness in meeting the rulemaking processes, implementation
Accordingly, Congress generally purposes and objectives of title X of the initiatives that occur after the issuance
transferred to the Bureau rulemaking Dodd-Frank Act and the specific goals of a final rule, or the Inherited
authority for Federal consumer financial stated by the Bureau. The assessment Regulations. Also please note that the
laws previously vested in certain other also must reflect available evidence and Bureau is not requesting comment on
Federal agencies, and the Bureau any data that the Bureau reasonably may any pending rulemaking for which the
thereafter assumed responsibility over collect. Before publishing a report of its Bureau has issued a Notice of Proposed
assessment, the Bureau must invite Rulemaking or otherwise solicited
1 Public Law 111–203, 124 Stat. 2081 (2010)
public comment on recommendations public comment.
(codified at 15 U.S.C. 1693a et seq.). Section 1021
of the Dodd-Frank Act states that the Bureau shall for modifying, expanding, or The Adopted Regulations. The
seek to implement and, where applicable, enforce Adopted Regulations include
Federal consumer financial law consistently for the 5 The Bureau generally restated these regulations
purpose of ensuring that all consumers have access first through a series of interim final rules
rulemakings adopted under Federal
to markets for consumer financial products and published in the Federal Register and subsequently consumer financial law and issued by
services and that markets for consumer financial through a final rule. 81 FR 25323 (Apr. 28, 2016). the Bureau since the designated transfer
sradovich on DSK3GMQ082PROD with PROPOSALS
products and services are fair, transparent, and Bureau rules are generally set forth in title 12, date in 2011, including rules that were
competitive. Section 1021 also authorized the Chapter X of the Code of Federal Regulations.
Bureau to exercise its authorities under Federal 6 For example, section 1089 of the Dodd-Frank
adopted pursuant to specific
consumer financial law for the purposes of ensuring Act amended the Fair Debt Collection Practices Act instructions from Congress.11 The term
that, with respect to consumer financial products to authorize the Bureau to ‘‘prescribe rules with
and services, five specific objectives are met. 12 respect to the collection of debts by debt 9 12 U.S.C. 5512(d).
U.S.C. 5511. collectors,’’ as defined in the Act. See 15 U.S.C. 10 12 U.S.C. 5511(b)(3).
2 12 U.S.C. 5581. 1692l(d); 78 FR 67847, 67852 (Nov. 12, 2013). 11 Examples of larger rules issued by the Bureau
3 12 U.S.C. 5581(a)(1). 7 12 U.S.C. 5512(a).
that would fall under the definition of ‘‘Adopted
4 12 U.S.C. 5481(14). 8 12 U.S.C. 5512(b)(1). Continued
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the Federal consumer financial laws, National Archives and Records postcard on which the following
and where rulemaking would be Administration (NARA). For statement is made: ‘‘Comments to FAA
beneficial and align with the purposes information on the availability of FAA Docket No. FAA–2018–0082, and
and objectives of the applicable Federal Order 7400.11B at NARA, call (202) Airspace Docket No. 16–AWP–22.’’ The
consumer financial laws. 741–6030, or go to https:// postcard will be date/time stamped and
Authority: 12 U.S.C. 5511(c). www.archives.gov/federal-register/cfr/ returned to the commenter.
ibr-locations.html. All communications received on or
Dated: March 14, 2018. before the specified comment closing
FAA Order 7400.11, Airspace
Mick Mulvaney, Designations and Reporting Points, is date will be considered before taking
Acting Director, Bureau of Consumer published yearly and effective on action on the proposed rule. The
Financial Protection. September 15. proposal contained in this action may
[FR Doc. 2018–05612 Filed 3–20–18; 8:45 am] be changed in light of comments
FOR FURTHER INFORMATION CONTACT:
BILLING CODE 4810–AM–P
Kenneth Ready, Airspace Policy Group, received. All comments submitted will
Office of Airspace Services, Federal be available for examination in the
Aviation Administration, 800 public docket both before and after the
DEPARTMENT OF TRANSPORTATION Independence Avenue SW, Washington, comment closing date. A report
DC 20591; telephone: (202) 267–8783. summarizing each substantive public
Federal Aviation Administration contact with FAA personnel concerned
SUPPLEMENTARY INFORMATION:
with this rulemaking will be filed in the
14 CFR Part 71 Authority for This Rulemaking docket.
[Docket No. FAA–2018–0082; Airspace The FAA’s authority to issue rules Availability of NPRMs
Docket No. 16–AWP–22] regarding aviation safety is found in An electronic copy of this document
Title 49 of the United States Code. may be downloaded through the
Proposed Establishment of Class E
Subtitle I, Section 106 describes the internet at http://www.regulations.gov.
Airspace; Pago Pago, American Samoa
authority of the FAA Administrator. Recently published rulemaking
AGENCY: Federal Aviation Subtitle VII, Aviation Programs, documents can also be accessed through
Administration (FAA), DOT. describes in more detail the scope of the the FAA’s web page at http://
ACTION: Notice of proposed rulemaking agency’s authority. This rulemaking is www.faa.gov/air_traffic/publications/
(NPRM). promulgated under the authority airspace_amendments/.
described in Subtitle VII, Part A, You may review the public docket
SUMMARY: This action proposes to Subpart I, Section 40103. Under that
establish Class E airspace extending containing the proposal, any comments
section, the FAA is charged with received, and any final disposition in
upward from 700 feet above the surface prescribing regulations to assign the use
at Pago Pago International Airport, Pago person in the Dockets Office (see the
of airspace necessary to ensure the ADDRESSES section for the address and
Pago, American Samoa (AS), to safety of aircraft and the efficient use of
accommodate the development of phone number) between 9:00 a.m. and
airspace. This regulation is within the 5:00 p.m., Monday through Friday,
instrument flight rules (IFR) operations scope of that authority as it would
under standard instrument approach except federal holidays. An informal
establish Class E airspace at Pago Pago docket may also be examined during
and departure procedures at the airport, International Airport, Pago Pago, AS, to
and for the safety and management of normal business hours at the office of
support IFR operations at the airport. Western Service Center, Operations
IFR operations within the National
Airspace System. Comments Invited Support Group, Federal Aviation
Administration, 2200 S 216th Street,
DATES: Comments must be received on Interested parties are invited to Des Moines, WA 98198.
or before May 7, 2018. participate in this proposed rulemaking
ADDRESSES: Send comments on this by submitting such written data, views, Availability and Summary of
proposal to the U.S. Department of or arguments as they may desire. Documents for Incorporation by
Transportation, Docket Operations, 1200 Comments that provide the factual basis Reference
New Jersey Avenue SE, West Building supporting the views and suggestions This document proposes to amend
Ground Floor, Room W12–140, presented are particularly helpful in FAA Order 7400.11B, Airspace
Washington, DC 20590; telephone: 1– developing reasoned regulatory Designations and Reporting Points,
800–647–5527, or (202) 366–9826. You decisions on the proposal. Comments dated August 3, 2017, and effective
must identify FAA Docket No. FAA– are specifically invited on the overall September 15, 2017. FAA Order
2018–0082 and Airspace Docket No. 16– regulatory, aeronautical, economic, 7400.11B is publicly available as listed
AWP–22, at the beginning of your environmental, and energy-related in the ADDRESSES section of this
comments. You may also submit aspects of the proposal. document. FAA Order 7400.11B lists
comments through the internet at http:// Communications should identify both Class A, B, C, D, and E airspace areas,
www.regulations.gov. docket numbers (FAA Docket No. FAA– air traffic service routes, and reporting
FAA Order 7400.11B, Airspace 2018–0082 and Airspace Docket No. 16– points.
Designations and Reporting Points, and AWP–22) and be submitted in triplicate
subsequent amendments can be viewed to the Docket Management Facility (see The Proposal
sradovich on DSK3GMQ082PROD with PROPOSALS
online at http://www.faa.gov/air_traffic/ ADDRESSES section for address and The FAA is proposing an amendment
publications/. For further information, phone number). You may also submit to Title 14 Code of Federal Regulations
you can contact the Airspace Policy comments through the internet at http:// (14 CFR) part 71 by establishing Class E
Group, Federal Aviation www.regulations.gov. airspace extending upward from 700
Administration, 800 Independence Commenters wishing the FAA to feet above the surface within a 7-mile
Avenue SW, Washington, DC 20591; acknowledge receipt of their comments radius of Pago Pago International
telephone: (202) 267–8783. The Order is on this action must submit with those Airport, Pago Pago, AS. This airspace is
also available for inspection at the comments a self-addressed, stamped necessary to accommodate IFR
VerDate Sep<11>2014 17:00 Mar 20, 2018 Jkt 244001 PO 00000 Frm 00007 Fmt 4702 Sfmt 4702 E:\FR\FM\21MRP1.SGM 21MRP1](https://thefederalregister.org/doc/83_FR_12341/page/4.svg)
Document Created: 2018-03-21 00:45:28
Document Modified: 2018-03-21 00:45:28
| 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 | Proposed Rules | |
| Action | Request for information. | |
| Dates | Comments must be received by June 19, 2018. | |
| Contact | Thomas L. Devlin and Kristin McPartland, Senior Counsels, Office of Regulations, at 202-435-7700. If you require this document in an alternative electronic format, please contact [email protected] | |
| FR Citation | 83 FR 12286 |
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