83 FR 5999 - Request for Information Regarding Bureau Enforcement Processes

BUREAU OF CONSUMER FINANCIAL PROTECTION

Federal Register Volume 83, Issue 29 (February 12, 2018)

The Bureau of Consumer Financial Protection (Bureau) is seeking comments and information from interested parties to assist the Bureau in assessing the overall efficiency and effectiveness of its processes related to the enforcement of Federal consumer financial law, and, consistent with the law, considering whether any changes to these processes would be appropriate.

[Federal Register Volume 83, Number 29 (Monday, February 12, 2018)]
[Notices]
[Pages 5999-6000]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-02710]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2018-0003]


Request for Information Regarding Bureau Enforcement Processes

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for information.

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SUMMARY: The Bureau of Consumer Financial Protection (Bureau) is 
seeking comments and information from interested parties to assist the 
Bureau in assessing the overall efficiency and effectiveness of its 
processes related to the enforcement of Federal consumer financial law, 
and, consistent with the law, considering whether any changes to these 
processes would be appropriate.

DATES: Comments must be received by April 13, 2018.

ADDRESSES: You may submit responsive information and other comments, 
identified by Docket No. CFPB-2018-0003, 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-2018-0003 in the subject line of the message.
     Mail: Monica Jackson, Office of the Executive Secretary, 
Consumer Financial Protection Bureau, 1700 G Street NW, Washington, DC 
20552.
     Hand Delivery/Courier: Monica Jackson Office of the 
Executive Secretary, 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 St. NW, 
Washington, DC 20552, on official business days between the hours of 10 
a.m. and 5 p.m. eastern standard 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 
attachments and other supporting materials, will become part of the 
public record and subject to public disclosure. 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: For general inquiries and submission 
process questions, please call Mark Samburg, Counsel, at (202) 435-
9710.

SUPPLEMENTARY INFORMATION: In the course of its enforcement work, and 
as authorized by 12 U.S.C. 5561-5565 and further governed by 12 CFR 
parts 1080 and 1081, the Bureau may investigate whether any person is 
or has been engaged in any conduct that is a violation of Federal 
consumer financial law. These investigations may include requiring 
witnesses to give oral testimony. The Bureau is also authorized to 
commence legal proceedings for alleged violations of federal consumer 
financial law through either administrative adjudication proceedings or 
civil actions in federal district court. Regardless of forum, in these 
actions and proceedings the Bureau may seek appropriate legal and 
equitable relief as permitted by law, including appropriate civil money 
penalties. The Bureau is, as described below, issuing this request for 
information seeking public comment on how best to achieve meaningful 
burden reduction or other improvement to the processes used by the 
Bureau to enforce Federal consumer financial law (enforcement 
processes) while continuing to meet the Bureau's statutory objectives 
and ensuring a fair and transparent process for parties subject to 
enforcement authority.

Overview of This Request for Information

    The Bureau is using this request for information to seek public 
input regarding its enforcement processes. The Bureau encourages 
comments from all interested members of the public. The Bureau 
anticipates that the responding public may include entities that have 
been subject to Bureau enforcement actions or similar actions from 
other agencies, members of the bar who represent these entities, 
individual consumers, consumer advocates, regulators, and researchers, 
or members of academia.

Suggested Topics for Commenters

    To allow the Bureau to evaluate suggestions more effectively, the 
Bureau

[[Page 6000]]

requests that, where possible, comments include:
     Specific suggestions regarding any potential updates or 
modifications to the Bureau's enforcement processes, consistent with 
the Bureau's statutory objectives, and including, in as much detail as 
possible, the potential update or modification, supporting data or 
other information on impacts and costs, or information concerning 
alignment with the processes of other agencies; and
     Specific identification of any aspects of the Bureau's 
enforcement processes that should not be modified, consistent with the 
Bureau's statutory objectives, and including supporting data or other 
information on impacts and costs, or information concerning alignment 
with the processes of other agencies.
    The following list of general areas represents a preliminary 
attempt by the Bureau to identify elements of its enforcement processes 
that may be deserving of more immediate focus. 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. In addressing these 
topics or others, the Bureau requests that commenters identify with 
specificity the Bureau regulations or practices at issue, providing 
legal citations where appropriate and available. Please feel free to 
comment on some or all of the topics below, but please be sure to 
indicate on which area you are commenting. To provide comments 
specifically on the Bureau's Civil Investigative Demand (CID) 
processes, please respond to the specific Request for Information on 
that topic, Docket No. 2018-CFPB-0001, 83 FR 3686 (Jan. 26, 2018). To 
provide comments specifically on the Bureau's rules of practice for 
adjudication proceedings, please respond to the specific Request for 
Information on that topic, Docket No. 2018-CFPB-0002, 83 FR 5055 (Feb. 
5, 2018).
    The Bureau is seeking feedback on all aspects of its enforcement 
processes, including but not limited to:
    1. Communication between the Bureau and the subjects of 
investigations, including the timing and frequency of those 
communications, and information provided by the Bureau on the status of 
its investigation;
    2. The length of Bureau investigations;
    3. The Bureau's Notice and Opportunity to Respond and Advise 
process, including:
    a. CFPB Bulletin 2011-04, Notice and Opportunity to Respond and 
Advise (NORA), issued November 7, 2011 (updated January 18, 2012) and 
available at http://files.consumerfinance.gov/f/2012/01/Bulletin10.pdf, 
including whether invocation of the NORA process should be mandatory 
rather than discretionary; and
    b. The information contained in the letters that the Bureau may 
send to subjects of potential enforcement actions pursuant to the NORA 
process, as exemplified by the sample letter available at http://www.consumerfinance.gov/wp-content/uploads/2012/01/NORA-Letter1.pdf;
    4. Whether the Bureau should afford subjects of potential 
enforcement actions the right to make an in-person presentation to 
Bureau personnel prior to the Bureau determining whether it should 
initiate legal proceedings;
    5. The calculation of civil money penalties, consistent with the 
penalty amounts and mitigating factors set out in 12 U.S.C. 5565(c), 
including whether the Bureau should adopt a civil money penalty matrix, 
and, if it does adopt such a matrix, what that matrix should include;
    6. The standard provisions in Bureau consent orders, including 
conduct, compliance, monetary relief, and administrative provisions; 
and
    7. The manner and extent to which the Bureau can and should 
coordinate its enforcement activity with other Federal and/or State 
agencies that may have overlapping jurisdiction.

    Authority:  12 U.S.C. 5511(c).

    Dated: February 6, 2018.
Mick Mulvaney,
Acting Director, Bureau of Consumer Financial Protection.
[FR Doc. 2018-02710 Filed 2-9-18; 8:45 am]
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