8034 Federal Register / Vol. 77, No. 29 / Monday, February 13, 2012 / Unified Agenda 

1Some of the CFPB’s authorities may depend 

upon appointment of a Director. 

2The listing does not include certain 

administrative matters relating to agency 

organization, management, and personnel. Further, 

certain of the information fields for the listing are 

not applicable to independent regulatory agencies, 

including the CFPB, and, accordingly, the CFPB has 

indicated responses of ‘‘no’’ for such fields. 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

12 CFR Ch. X 

Semiannual Regulatory Agenda and 

Fiscal Year 2011 Regulatory Plan 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Semiannual regulatory agenda 

and annual regulatory plan. 

SUMMARY: The Bureau of Consumer 

Financial Protection (CFPB) is 

publishing this agenda as part of the 

Fall 2011 Unified Agenda of Federal 

Regulatory and Deregulatory Actions. 

The CFPB reasonably anticipates having 

the regulatory matters identified below 

under consideration during the period 

from October 1, 2011, to October 1, 

2012. The next agenda will be published 

in spring 2012 and will update this 

agenda through October 1, 2012. 

Publication of this agenda is in 

accordance with the Regulatory 

Flexibility Act (5 U.S.C. 601 et seq.). 

DATES: This information is current as of 

September 9, 2011. 

ADDRESSES: Consumer Financial 

Protection Bureau, 1801 L Street NW., 

Washington, DC 20036. 

FOR FURTHER INFORMATION CONTACT: A 

staff contact is included for each 

regulatory item listed herein. 

SUPPLEMENTARY INFORMATION: The CFPB 

is publishing its fall 2011 agenda as part 

of the Fall 2011 Unified Agenda of 

Federal Regulatory and Deregulatory 

Actions, which is coordinated by the 

Office of Management and Budget under 

Executive Order 12866. The CFPB’s 

participation in the Unified Agenda is 

voluntary. The complete Unified 

Agenda will be available to the public 

at the following Web site: 

www.reginfo.gov. 

Pursuant to the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act (Pub. L. 111–203, 124 Stat. 1376) 

(Dodd-Frank Act), the CFPB has 

rulemaking, supervisory, enforcement, 

and other authorities relating to 

consumer financial products and 

services.1 These authorities include the 

ability to issue regulations under more 

than a dozen Federal consumer 

financial laws, which transferred to the 

CFPB from seven Federal agencies on 

July 21, 2011. The CFPB is working on 

a wide range of initiatives to address 

issues in markets for consumer financial 

products and services that are not 

reflected in this notice because the 

Unified Agenda is limited to rulemaking 

activities. 

The CFPB reasonably anticipates 

having the regulatory matters identified 

below under consideration during the 

period from October 1, 2011, to October 

1, 2012.2 They include various 

rulemakings mandated by the DoddFrank Act and resolution of a handful of 

proposals that had been issued by the 

transferor agencies prior to July 21, 

2011. In addition, the CFPB must issue 

a number of procedural rules relating to 

the stand-up of the CFPB as an 

independent regulatory agency. 

Because the CFPB is at an early stage 

of its operations, it is still in the process 

of assessing the need and resources 

available for additional rulemakings. 

The CFPB expects to include any such 

projects that it reasonably anticipates 

considering before October 2012 in its 

spring 2012 agenda. 

Leonard J. Kennedy, 

General Counsel, Consumer Financial 

Protection Bureau. 

CONSUMER FINANCIAL PROTECTION BUREAU—PRERULE STAGE

Sequence No. Title Regulation 

Identifier No. 

492 .................... Business Lending Data (Regulation B) ............................................................................................................ 3170–AA09 

CONSUMER FINANCIAL PROTECTION BUREAU—PROPOSED RULE STAGE

Sequence No. Title Regulation 

Identifier No. 

493 .................... TILA/RESPA Mortgage Disclosure Integration (Regulation X; Regulation Z) ................................................. 3170–AA19 

Sequence No. Title Regulation 

Identifier No. 

494 .................... Disclosure Rules for Remittance Transactions (Regulation E) ....................................................................... 3170–AA15 

495 .................... Requirements for Escrow Accounts (Regulation Z) ........................................................................................ 3170–AA16 

496 .................... TILA Ability to Repay (Regulation Z) ............................................................................................................... 3170–AA17 

CONSUMER FINANCIAL PROTECTION 

BUREAU (CFPB) 

Prerule Stage 

492. • Business Lending Data 

(Regulation B) 

Legal Authority: 15 U.S.C. 1691c–2 

Abstract: Section 1071 of the DoddFrank Wall Street Reform and Consumer 

Protection Act (Dodd-Frank Act) 

amends the Equal Credit Opportunity 

Act (ECOA) to require financial 

institutions to report information 

concerning credit applications made by 

women- or minority-owned businesses 

and small businesses. The amendments 

made by the Dodd-Frank Act require 

that certain data be collected and 

maintained under ECOA, including the 

number and date the application was 


rmajette on DSK2TPTVN1PROD with PROPOSALS
Federal Register / Vol. 77, No. 29 / Monday, February 13, 2012 / Unified Agenda 8035 

received, the type and purpose of loan 

applied for, the amount of credit 

applied for and approved, the type of 

action taken with regard to each 

application and the date of such action, 

the census tract of the principal place of 

business, the gross annual revenue, and 

the race, sex, and ethnicity of the 

principal owners of the business. The 

CFPB expects to begin developing 

proposed regulations concerning the 

data to be collected and appropriate 

procedures, information safeguards, and 

privacy protections for informationgathering under this section. 

Timetable: 

Action Date FR Cite 

CFPB Expects 

Further Action.

10/00/12 

Regulatory Flexibility Analysis 

Required: Yes. 

Agency Contact: Kelly Thompson 

Cochran, Office of Regulations, 

Consumer Financial Protection Bureau, 

Phone: 202 435–7700. 

RIN: 3170–AA09 

CONSUMER FINANCIAL PROTECTION 

BUREAU (CFPB) 

Proposed Rule Stage 

493. • TILA/RESPA Mortgage 

Disclosure Integration (Regulation X; 

Regulation Z) 

Legal Authority: 12 U.S.C. 2617; 12 

U.S.C. 3806; 15 U.S.C. 1604; 15 U.S.C. 

1637(c)(5); 15 U.S.C. 1639(l); 12 U.S.C. 

5532 

Abstract: The CFPB will publish a 

proposed rule and model mortgage 

disclosure forms that will integrate the 

disclosure requirements of the Real 

Estate Settlement Procedures Act 

(RESPA) and the Truth in Lending Act 

(TILA), as required by the Dodd-Frank 

Wall Street Reform and Consumer 

Protection Act (Dodd-Frank Act). The 

proposed rule would amend and 

integrate portions of Regulation Z (Truth 

in Lending) and Regulation X (Real 

Estate Settlement Procedures Act), 

which currently require mortgage 

lenders and brokers to provide separate 

sets of disclosures to consumers. The 

proposed model forms will be designed 

to enhance consumer understanding 

and provide guidance to lenders and 

brokers on compliance with the 

amended disclosure requirements. The 

project may address some new 

disclosure requirements imposed by 

title XIV of the Dodd-Frank Act and 

address some elements of the Federal 

Reserve Board’s August 2009 and 

September 2010 proposals concerning 

closed-end mortgages. See RINs 7100– 

AD33, 7100–AD52. 

Timetable: 

Action Date FR Cite 

NPRM .................. 07/00/12 

Regulatory Flexibility Analysis 

Required: Yes. 

Agency Contact: Ben Olson, Office of 

Regulations, Consumer Financial 

Protection Bureau, Phone: 202 435– 

7700. 

RIN: 3170–AA19 

CONSUMER FINANCIAL PROTECTION 

BUREAU (CFPB) 

Final Rule Stage 

494. • Disclosure Rules for Remittance 

Transactions (Regulation E) 

Legal Authority: 15 U.S.C. 1693o–1 

Abstract: The Federal Reserve Board 

(Board) published in the Federal 

Register on May 23, 2011, a proposed 

rule to implement section 1073 of the 

Dodd-Frank Wall Street Reform and 

Consumer Protection Act (Dodd-Frank 

Act), which added a new section 919 to 

the Electronic Fund Transfer Act 

(EFTA). Consistent with the statute, the 

proposed rule requires that remittance 

transfer providers give senders of 

remittance transfers certain disclosures, 

including information about fees, the 

applicable exchange rate, and the 

amount of currency to be received by 

the recipient. The proposal also 

implements two statutory exceptions 

that permit remittance transfer 

providers to disclose estimates of the 

amount of currency to be received, 

rather than the actual amount. In 

addition, the proposed rule provides 

error resolution rights for senders of 

remittance transfers and promulgates 

standards for resolving errors and 

recordkeeping rules. The proposed rule 

also provides senders specified 

cancellation and refund rights. Pursuant 

to the Dodd-Frank Act, the rulemaking 

authority for the EFTA transferred from 

the Board to the CFPB on July 21, 2011. 

The CFPB is working to issue a final 

rule. 

Timetable: 

Action Date FR Cite 

NPRM .................. 05/23/11 76 FR 29902 

NPRM Comment 

Period End.

07/22/11 

Final Rule ............ 01/00/12 

Regulatory Flexibility Analysis 

Required: Yes. 

Agency Contact: Vivian Wong, Office 

of Regulations, Consumer Financial 

Protection Bureau, Phone: 202 435– 

7700. 

RIN: 3170–AA15 

495. • Requirements for Escrow 

Accounts (Regulation Z) 

Legal Authority: 15 U.S.C. 1639 

Abstract: The Federal Reserve Board 

(Board) published in the Federal 

Register on March 2, 2011, a proposed 

rule to implement certain amendments 

to the Truth in Lending Act (TILA) 

made by the Dodd-Frank Wall Street 

Reform and Consumer Protection Act 

(Dodd-Frank Act) that lengthen the time 

for which a mandatory escrow account 

established for a higher-priced mortgage 

loan must be maintained. In addition, 

the Board’s proposal would implement 

the Dodd-Frank Act’s disclosure 

requirements regarding escrow 

accounts. The Board’s proposal also 

would exempt certain loans from the 

statute’s escrow requirement, pursuant 

to authority in the Dodd-Frank Act. The 

primary exemption would apply to 

mortgage loans extended by creditors 

that operate predominantly in rural or 

underserved areas and meet certain 

other prerequisites. Pursuant to the 

Dodd-Frank Act, the rulemaking 

authority for the TILA transferred from 

the Board to the CFPB on July 21, 2011. 

The CFPB is working to issue a final 

rule. 

Timetable: 

Action Date FR Cite 

NPRM .................. 03/02/11 76 FR 11598 

NPRM Comment 

Period End.

05/02/11 

Final Rule ............ 09/00/12 

Regulatory Flexibility Analysis 

Required: Yes. 

Agency Contact: Paul Mondor, Office 

of Regulations, Consumer Financial 

Protection Bureau, Phone: 202 435– 

7700. 

RIN: 3170–AA16 

496. • TILA Ability To Repay 

(Regulation Z) 

Legal Authority: 12 U.S.C. 5512; 15 

U.S.C. 1604; 15 U.S.C. 1639C 

Abstract: The Federal Reserve Board 

published for public comment on May 

11, 2011, a proposed rule amending 

Regulation Z to implement amendments 

to the Truth in Lending Act (TILA) 

made by the Dodd-Frank Wall Street 

Reform and Consumer Protection Act 

(Dodd-Frank Act). Regulation Z 

currently prohibits a creditor from 

making a higher-priced mortgage loan 

without regard to the consumer’s ability 

to repay the loan. The proposal would 


rmajette on DSK2TPTVN1PROD with PROPOSALS
8036 Federal Register / Vol. 77, No. 29 / Monday, February 13, 2012 / Unified Agenda 

implement statutory changes made by 

the Dodd-Frank Act that expand the 

scope of the ability-to-repay 

requirement to cover any consumer 

credit transaction secured by a dwelling 

(excluding an open-end credit plan, 

timeshare plan, reverse mortgage, or 

temporary loan). In addition, the 

proposal would establish standards for 

complying with the ability-to-repay 

requirement, including by making a 

‘‘qualified mortgage.’’ The proposal also 

implements the Dodd-Frank Act’s limits 

on prepayment penalties. Finally, the 

proposal would require creditors to 

retain evidence of compliance with this 

rule for three years after a loan is 

consummated. Pursuant to the DoddFrank Act, the rulemaking authority for 

the TILA transferred from the Board to 

the CFPB on July 21, 2011. The CFPB 

is working to issue a final rule. 

Timetable: 

Action Date FR Cite 

NPRM .................. 05/11/11 76 FR 27390 

NPRM Comment 

Period End.

07/22/11 

Action Date FR Cite 

Final Rule ............ 04/00/12 

Regulatory Flexibility Analysis 

Required: Yes. 

Agency Contact: Brent Lattin, Office 

of Regulations, Consumer Financial 

Protection Bureau, Phone: 202 435– 

7700. 

RIN: 3170–AA17 

[FR Doc. 2012–1663 Filed 2–10–12; 8:45 am] 

BILLING CODE 4810–AM–P 


rmajette on DSK2TPTVN1PROD with PROPOSALS
Vol. 77 Monday, 

No. 29 February 13, 2012 

Part XXII 

Federal Communications Commission 

Semiannual Regulatory Agenda 


rmajette on DSK2TPTVN1PROD with PROPOSALS