CFPB Bulletin 11-2

Re: Interstate Land Sales Full Disclosure Act – Communications with CFPB

Date: July 21, 2011

The Bureau of Consumer Financial Protection (CFPB) issues this bulletin (Interim ILS 

Guidance) to address certain administrative issues relating to the Interstate Land Sales 

Full Disclosure Act (ILS).

Under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Act”), on 

the designated transfer date, July 21, 2011, all of the consumer protection functions of 

the Department of Housing and Urban Development (HUD) relating to the ILS transfer

to the CFPB, and the CFPB has all powers and duties that were vested in the Secretary of 

HUD relating to the ILS. The Act also amends the ILS to conform to the transfer of 

these authorities to the CFPB. The CFPB is authorized to administer and enforce 

requirements under the ILS, subject to the limitations and other provisions of the Act.

Later this year, the CFPB intends to publish in chapter X of title 12 of the Code of 

Federal Regulations the rules, including HUD’s ILS rules, for which rulemaking authority 

transfers to the CFPB, including conforming amendments to reflect both the transfer of 

authority to the CFPB under the Act and certain other changes made by the Act to the 

underlying statutes. In the interim, the existing rules will continue in effect and the 

changes made by the Act to transfer authority to the CFPB will be effective as of the 

designated transfer date by operation of law. 

The CFPB is issuing this Interim ILS Guidance, effective July 21, 2011, for clarification 

and convenience pending the issuance of revised ILS regulations in order to facilitate 

compliance with and administration of the ILS, as amended. HUD’s regulations 

implementing ILS have provided, among other things, for entities subject to the ILS to 

provide certain documents and payments to HUD. This guidance clarifies that such 

materials should be submitted to the CFPB. An entity that acts in accordance with this 

guidance will be considered to be in compliance with the ILS and its implementing 
regulations and would not be subject to CFPB enforcement for lack of compliance with 

the regulations referring to HUD and its contact information.1

 

1. All initial and consolidated statements of record, amendments, exemption order 

requests, annual reports of activity, and annual financial statements should be 

mailed to:

CFPB Interstate Land Sales

C/O: Armedia LLC

8221 Old Courthouse Road

Suite 206

Vienna, VA 22182

2. All requests for an advisory opinion should be mailed to: 

Department of the Treasury

1500 Pennsylvania Ave NW

Attn: Nonbank Supervision

1801 L Street NW 5th floor

Washington, DC 20220

3. All payments for initial and consolidated statements of record, reactivation 

amendments, exemption order requests, annual reports of activity, and advisory 

opinions may be sent either by:

a. Certified check, cashier’s check, or postal money order made payable to 

the Treasurer of the United States, which must include the registration 

number, when known, and the name of the subdivision on the face of 

the check, and mailed to:

 

1 Until the amendments to the rules implementing ILS become effective, HUD will 

provide applicable materials it receives from entities subject to the ILS regulations to 

the CFPB.
Department of the Treasury

1500 Pennsylvania Ave NW

Attn: Nonbank Supervision

1801 L Street NW 5th floor

Washington, DC 20220; or

b. Electronic payment (www.pay.gov). Follow all the same procedures. 

Although you are selecting HUD as the receiving agency, the fee will be 

directed to CFPB. In the near future, CFPB will appear as an option, 

and at that time, please select CFPB as the receiving agency. 

The amount of each required payment remains as prescribed in 24 CFR 

1710.35(b) through (d).

If you have any further questions, please contact Dennis Weipert at (202) 435-7567 or 

send an email to CFPB_ILS_Inquiries@cfpb.gov.