Federal Register / Vol. 76, No. 222 / Thursday, November 17, 2011 / Notices 71329 

pursuant to 5 U.S.C. 5516, 5517, and 

5520, for the purpose of furnishing 

employees with IRS Forms W–2 that 

report such tax distributions; 

(13) Unions recognized as exclusive 

bargaining representatives under the 

Civil Service Reform Act of 1978, 

5 U.S.C. 7111, 7114; and 

(14) Carriers, providers and other 

federal agencies involved in 

administration of employee retirement 

and benefits programs and such 

agencies’ contractors or plan 

administrators, when necessary to 

determine employee eligibility to 

participate in retirement and benefits 

programs, process employee 

participation in those programs, process 

claims with respect to individual 

employee participation in those 

programs, audit benefits paid under 

those programs, or perform any other 

administrative function in connection 

with those programs and federal 

agencies that perform payroll and 

personnel processing and employee 

retirement and benefits plan services 

under interagency agreements or 

contracts, including the issuance of 

paychecks to employees, the 

distribution of wages, the 

administration of deductions from 

paychecks for retirement and benefits 

programs, and the distribution and 

receipt of those deductions. These 

agencies include, without limitation, the 

Department of Labor, the Department of 

Veterans Affairs, the Social Security 

Administration, the Federal Retirement 

Thrift Investment Board, the 

Department of Defense, the Office of 

Personnel Management, the Board of 

Governors of the Federal Reserve 

System, the Department of the Treasury, 

and the National Finance Center at the 

U.S. Department of Agriculture. 

POLICIES AND PRACTICES FOR STORING, 

RETRIEVING, ACCESSING, RETAINING, AND

DISPENSING OF RECORDS IN THE SYSTEM: 

STORAGE: 

Paper and electronic records. 

RETRIEVABILITY: 

Records are retrievable by a variety of 

fields including, without limitation, the 

individual’s name, social security 

number, address, account number, 

transaction number, phone number, 

date of birth, or by some combination 

thereof. 

SAFEGUARDS: 

Access to electronic records is 

restricted to authorized personnel who 

have been issued non-transferrable 

access codes and passwords. Other 

records are maintained in locked file 

cabinets or rooms with access limited to 

those personnel whose official duties 

require access. 

SYSTEM MANAGER(S) AND ADDRESS: 

Consumer Financial Protection 

Bureau, Chief Technology Officer, 1700 

G St. NW., Washington, DC 20006. 

RETENTION AND DISPOSAL: 

The CFPB will maintain electronic 

and paper records under the National 

Archives and Records Administration 

(NARA) schedules General Records 

Schedule (GRS) GRS 01 and GRS 02. 

NOTIFICATION PROCEDURE: 

Individuals seeking notification and 

access to any record contained in this 

system of records, or seeking to contest 

its content, may inquire in writing in 

accordance with instructions appearing 

in 12 CFR 1070.50 et seq. Address such 

requests to: Chief Privacy Officer, 

Consumer Financial Protection Bureau, 

1700 G St., NW., Washington, DC 20006. 

RECORD ACCESS PROCEDURES: 

See ‘‘Notification Procedures’’ above. 

CONTESTING RECORD PROCEDURES: 

See ‘‘Notification Procedures’’ above. 

RECORD SOURCE CATEGORIES: 

Information in this system is obtained 

from individuals and entities associated 

with benefits, retirement, human 

resource, and payroll systems 

administration. 

EXEMPTIONS CLAIMED FOR THE SYSTEM: 

None. 

[FR Doc. 2011–29689 Filed 11–16–11; 8:45 am] 

BILLING CODE 4810–AM–P 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

[Docket No. CFPB–2011–0037] 

Request for Information Regarding 

Private Education Loans and Private 

Educational Lenders 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Notice and request for 

information. 

SUMMARY: Section 1077 of the DoddFrank Wall Street Reform and Consumer 

Protection Act of 2010 (‘‘Dodd-Frank’’) 

requires the Bureau of Consumer 

Financial Protection (‘‘Bureau’’ or 

‘‘CFPB’’) and the Department of 

Education, in consultation with the 

Department of Justice and the Federal 

Trade Commission, to prepare a Report 

on Private Education Loans and Private 

Education Lenders. The Bureau seeks 

information on private education loans 

and related consumer financial products 

and services that are currently being 

offered to or used by students and their 

families for the financing of 

postsecondary education. 

DATES: Comment Due Date: January 17, 

2012. 

ADDRESSES: You may submit comments, 

identified by Docket No. CFPB–2011– 

0037, by any of the following methods: 

• http://www.regulations.gov. Follow 

the instructions for submitting 

comments. 

• Email: 

CFPB_StudentsFedReg@cfpb.gov. 

• Mail: Monica Jackson, Office of the 

Executive Secretary, Consumer 

Financial Protection Bureau, 1500 

Pennsylvania Ave. NW., (Attn: 1801 L 

Street), Washington, DC 20220. 

• Hand Delivery/Courier in Lieu of 

Mail: Monica Jackson, Office of the 

Executive Secretary, Consumer 

Financial Protection Bureau, 1700 G 

Street NW., Washington, DC 20006. 

Instructions: The CFPB encourages 

the early submission of comments. All 

submissions must include the document 

title and docket number. Please note the 

number of the question to which you are 

responding at the top of each response 

(respondents need not answer each 

question). 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 20006, 

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 comments, 

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 should not be 

included. Comments will not be edited 

to remove any identifying or contact 

information. 

FOR FURTHER INFORMATION CONTACT: For 

general inquiries, submission process 

questions or any additional information, 

please call Monica Jackson at (202) 435– 

7275. 

SUPPLEMENTARY INFORMATION: In support 

of the study required under section 1077 

of Dodd-Frank, the Bureau seeks 

information on private education loans 

and related consumer financial products 

and services that are currently being 

offered to or used by students and their 

families for the financing of 

postsecondary education. As used in 

Section 1077 of Dodd-Frank, ‘‘private 

education loans’’ refers to loans made 


jlentini on DSK4TPTVN1PROD with NOTICES
71330 Federal Register / Vol. 76, No. 222 / Thursday, November 17, 2011 / Notices 

1Title IV loans are commonly referred to as 

‘‘federal loans’’ and are often known as ‘‘Stafford 

Loans,’’ Perkins Loans,’’ and ‘‘PLUS and 

GradPLUS’’ loans in the current federal Direct Loan 

program guaranteed under Title IV of the Higher 

Education Act. 

2For the purposes of this request for information, 

the terms ‘‘private education loans’’ and ‘‘private 

student loans’’ may be used interchangeably, as 

may the terms ‘‘private educational lenders’’ and 

‘‘private student lenders.’’ Dodd-Frank defines 

‘‘private education loans’’ by reference to section 

140 of the Truth-in-Lending Act, 15 U.S.C. 1650. 

by a school or by a financial institution 

to finance the cost of post-secondary 

education, but excluding loans 

guaranteed under Title IV of the Higher 

Education Act, commonly referred to as 

‘‘federal’’ loans.1

Section 1077 of Dodd-Frank requires 

the Bureau and the Department of 

Education, in consultation with the 

Department of Justice and the Federal 

Trade Commission, to prepare a Report 

on Private Education Loans and Private 

Education Lenders (‘‘Report’’).2 Section 

1077 mandates that the Report address 

a list of questions, some of which may 

best be answered with quantitative data. 

For those questions, the Bureau will 

initially utilize records already held by 

the Department of Education, 

information obtained directly from 

lenders (both for-profit and non-profit) 

and industry associations, and 

information already collected or 

otherwise available from other public 

and private sources. To supplement 

these data and to capture qualitative 

information that may help to answer the 

questions posed by Congress, this notice 

and request for information seeks input 

from all sources, both inside and 

outside of the financial services 

industry, including consumers, 

financial services providers, schools, 

organizations, and other members of the 

public regarding (a) Issues concerning 

private education loans and lending, 

where existing quantitative data may be 

incomplete, and (b) qualitative issues 

where public input will add perspective 

that may improve the Report. 

We refer the public to the questions 

posed by Congress in Section 1077 of 

Dodd-Frank at http://go.usa.gov/XDr. To 

assist the Bureau in responding to those 

questions, we seek public comment on 

the questions below. The Bureau is 

particularly interested in learning what 

information would help students make 

informed decisions about which 

financial services and products are right 

for them and what approaches would 

best assist recent graduates facing (or 

about to face) difficulty making private 

education loan payments. The questions 

are grouped into four broad categories, 

(a) Scope and use of private education 

loans, (b) information and shopping for 

private education loans, (c) institutional 

loans, and (d) repayment. Please feel 

free to respond to all of the questions or 

only those that interest you, but please 

be sure to indicate in your comments 

which questions you are answering. 

Scope and Use of Private Education 

Loans 

1. In addition to private education 

loans, to what extent do students and 

their families rely on other forms of 

non-federal debt financing to pay for 

postsecondary education (e.g. tuition 

payment plans, student credit cards, 

parent or family credit cards, home 

equity lines of credit, etc.)? 

2. For students who do not exhaust 

their federal loan options, including 

those that require the completion of a 

Free Application for Federal Student 

Aid (FAFSA), before turning to private 

education loans, what explains their 

choice of private loans? 

Information and Shopping for Private 

Loans 

3. From what sources do students and 

their families obtain information about 

private education loans and private 

lenders? What sources are most helpful 

and accurate? 

a. How effective are the existing 

disclosures provided by private 

education lenders regarding the terms 

and conditions of the loans? Among 

other things, comments could address 

issues such as whether students and 

their families feel they adequately 

understand the terms and conditions of 

various financial products offered to 

finance their education goals. 

4. What sources of information do 

students rely upon to gauge the 

appropriate amount of student debt 

when selecting a school or program? Do 

students rely on financial aid budgets 

provided by the school or on other 

sources to determine amounts needed to 

cover tuition and other expenses? Do 

they consider ability to repay in 

choosing amounts of debt to incur? If so, 

what resources are available to help 

them determine their ability to repay? 

Institutional Loans 

5. To what extent are students offered 

or solicited to take out private education 

loans made directly by the school they 

are attending? How do such programs 

compare to those offered by non-school 

private educational lenders (e.g., 

interest rates, ease of approval, 

underwriting criteria, repayment terms 

etc.)? 

6. What types of schools most 

commonly offer their own private 

student loan programs? How do schools 

select the students they deem eligible 

for their loan programs (e.g., academic 

merit, financial need, recruitment, 

retention)? How are school loan 

programs funded? 

Repayment 

7. How well are the amount and 

timing of private education loan 

repayment terms understood (a) When 

borrowers take out the loan, (b) during 

school, (c) at graduation, and (d) when 

repayment begins? Among other things, 

comments could address individual 

experiences at each stage of a student’s 

education, or reference existing studies 

or survey work concerning the 

percentage of students with different 

levels of understanding regarding their 

debt load at each stage of their 

education. 

8. What are the best practices at 

school financial aid offices in providing 

students with information about 

students’ future loan payments and 

ability to afford those payments? The 

Bureau is particularly interested in steps 

or programs schools voluntarily use to 

create or enhance students’ awareness of 

their debt loads and ability to afford 

their loan payments, as well as any 

evidence concerning the impact of such 

initiatives. 

9. How much does a student’s debt 

load affect undergraduate field of study 

or career choices after graduation? To 

what extent do undergraduates’ or 

recent graduates’ debt loads affect their 

decision to attend graduate school or 

seek advanced professional degrees? 

10. Are students adequately informed 

of their rights as borrowers on private 

education loans? What resources are 

students offered to protect their rights? 

Who directs them to resources that may 

help them protect their rights (e.g., 

friends, schools, lenders, particular Web 

sites, etc.)? 

11. What financial education 

techniques and resources have 

empirically-demonstrated effectiveness 

in helping borrowers avoid default on 

private education loans? How prevalent 

are these techniques and resources? 

Among other things, the CFPB is 

particularly interested to learn: 

a. Which alternative repayment plans 

have proven most effective in keeping 

borrowers out of default and why? 

b. Whether private lenders adopted 

repayment program modifications to 

respond to the high unemployment rate 

among recent graduates in the wake of 

the financial crisis? 

c. Are there techniques that private 

education lenders should try to help 

reduce default? 

d. Have private lenders developed 

rehabilitation programs for defaulted 

loans? 


jlentini on DSK4TPTVN1PROD with NOTICES
Federal Register / Vol. 76, No. 222 / Thursday, November 17, 2011 / Notices 71331 

Dated: November 9, 2011. 

Meredith Fuchs, 

Chief of Staff, Consumer Financial Protection 

Bureau. 

[FR Doc. 2011–29737 Filed 11–16–11; 8:45 am] 

BILLING CODE 4810–AM–P 

DEPARTMENT OF DEFENSE 

Office of the Secretary 

Department of Defense Task Force on 

the Care, Management, and Transition 

of Recovering Wounded, Ill, and 

Injured Members of the Armed Forces; 

Notice of Meeting 

AGENCY: Office of the Assistant 

Secretary of Defense, Department of 

Defense. 

ACTION: Meeting notice. 

SUMMARY: Under the provisions of the 

Federal Advisory Committee Act of 

1972 (5 U.S.C., Appendix, as amended), 

the Government in the Sunshine Act of 

1976 (5 U.S.C. 552b, as amended), and 

41 CFR 102–3.150, the Department of 

Defense announces that the following 

Federal Advisory Committee meeting 

will take place: Department of Defense 

Task Force on the Care, Management, 

and Transition of Recovering Wounded, 

Ill, and Injured Members of the Armed 

Forces (subsequently referred to as the 

Task Force). 

DATES: Thursday, December 8, 2011– 

Friday, December 9, 2011, from 8:30 

a.m. to 5 p.m. CST, each day. 

ADDRESSES: St. Anthony Riverwalk 

Wyndham Hotel-Peraux Room, 300 East 

Travis Street, San Antonio, TX 78205. 

FOR FURTHER INFORMATION CONTACT: Mail 

Delivery service through Recovering 

Warrior Task Force, Hoffman Building 

II, 200 Stovall St., Alexandria, VA 

22332–0021 ‘‘Mark as Time Sensitive 

for December Meeting.’’ Emails to 

rwtf@wso.whs.mil. Denise F. Dailey, 

Designated Federal Officer; Telephone 

(703) 325–6640. Fax (703) 325–6710. 

SUPPLEMENTARY INFORMATION: 

Purpose of the Meeting: The purpose 

of the meeting is for the Task Force 

Members to convene and gather data 

from panels and briefers on the Task 

Force’s topics of inquiry. 

Agenda: (Please refer to http:// 

dtf.defense.gov/rwtf/meetings.html for 

the most up-to-date meeting 

information). 

Thursday, December 8, 2011 

8:30 a.m.–10 a.m. Task Force Members 

After Action Review 

10:15 a.m.–10:45 a.m. Servicemembers 

Panel Views of VA Case 

Management prior to DD214 

10:45 a.m.–12 p.m. Panel on PreSeparation VA Case Management 

12 p.m.–1 p.m. Break for lunch 

1 p.m.–1:30 p.m. Veteran Views of PreDD214 Programs and Policies 

1:30 p.m.–2:30 p.m. Post DD 214 

Challenges Panel 

2:30 p.m.–2:45 p.m. Break 

2:45 p.m.–3:45 p.m. Panel on VA IDES 

Support 

3:45 p.m.–4 p.m. Break 

4 p.m.–5 p.m. Public Forum 

5 p.m. Closing 

Friday, December 9, 2011 

8:30 a.m.–8:45 a.m. Opening 

8:45 a.m.–10 a.m. Army WTU Cadre 

Training Briefing–AMEDD 

10 a.m.–10:15 a.m. Break 

10:15 a.m.–11:15 a.m. FLO Briefing 

11:15 a.m.–12:15 p.m. VA Vet Center 

Counselors Panel 

12:15 p.m.–1:15 p.m. Break for lunch 

1:15 p.m.–2:15 p.m. Hearing CoE 

Briefing 

2:15 p.m.–3:45 p.m. Panel of Private 

Organizations: VSOs, MSOs 

3:45 p.m.–4 p.m. Break 

4 p.m.–5 p.m. Panel of DVOPs and 

LVERs 

5 p.m. Closing 

Public’s Accessibility to the Meeting: 

Pursuant to 5 U.S.C. 552b and 41 CFR 

102–3.140 through 102–3.165, and the 

availability of space, this meeting is 

open to the public. Seating is on a firstcome basis. 

Pursuant to 41 CFR 102–3.105(j) and 

102–3.140, and section 10(a)(3) of the 

Federal Advisory Committee Act of 

1972, the public or interested 

organizations may submit written 

statements to the Department of Defense 

Task Force on the Care, Management, 

and Transition of Recovering Wounded, 

Ill, and Injured Members of the Armed 

Forces about its mission and functions. 

If individuals are interested in making 

an oral statement during the Public 

Forum time period, a written statement 

for a presentation of two minutes must 

be submitted as below and must identify 

it is being submitted for an oral 

presentation by the person making the 

submission. 

Identification information must be 

provided and at a minimum must 

include a name and a phone number. 

Individuals may visit the Task Force 

Web site at http://dtf.defense.gov/rwtf/ 

to view the Charter. Individuals making 

presentations will be notified by Friday, 

December 2, 2011. Oral presentations 

will be permitted only on Friday 

December 9, 2011 from 4 p.m. to 5 p.m. 

CST before the Task Force. The number 

of oral presentations will not exceed 

ten, with one minute of questions 

available to the Task Force members per 

presenter. Presenters should not exceed 

their two minutes. 

Written statements in which the 

author does not wish to present orally 

may be submitted at any time or in 

response to the stated agenda of a 

planned meeting of the Department of 

Defense Task Force on the Care, 

Management, and Transition of 

Recovering Wounded, Ill, and Injured 

Members of the Armed Forces. 

All written statements shall be 

submitted to the Designated Federal 

Officer for the Task Force through the 

above contact information, and this 

individual will ensure that the written 

statements are provided to the 

membership for their consideration. 

Statements, either oral or written, 

being submitted in response to the 

agenda mentioned in this notice must be 

received by the Designated Federal 

Officer at the address listed no later 

than 5 p.m. EST (4 p.m. CST), 

Wednesday, November 30, 2011 which 

is the subject of this notice. Statements 

received after this date may not be 

provided to or considered by the Task 

Force until its next meeting. Please 

mark mail correspondence as ‘‘Time 

Sensitive for December Meeting.’’ 

The Designated Federal Officer will 

review all timely submissions with the 

Task Force Co-Chairs and ensure they 

are provided to all members of the Task 

Force before the meeting that is the 

subject of this notice. 

Reasonable accommodations will be 

made for those individuals with 

disabilities who request them. Requests 

for additional services should be 

directed to Heather Jane Moore, (703) 

325–6640, by 5 p.m. EST (4 p.m. CST), 

Wednesday, November 30, 2011. 

Dated: November 14, 2011. 

Aaron Siegel, 

Alternate OSD Federal Register Liaison 

Officer, Department of Defense. 

[FR Doc. 2011–29729 Filed 11–16–11; 8:45 am] 

BILLING CODE 5001–06–P 

DEPARTMENT OF DEFENSE 

Office of the Secretary 

Department of Defense Wage 

Committee; Notice of Closed Meetings 

AGENCY: Department of Defense (DoD). 

ACTION: Notice of closed meetings. 

SUMMARY: Pursuant to the provisions of 

section 10 of Public Law 92–463, the 

Federal Advisory Committee Act, notice 

is hereby given that a closed meeting of 

the Department of Defense Wage 

Committee will be held. 


jlentini on DSK4TPTVN1PROD with NOTICES