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[Federal Register Volume 77, Number 220 (Wednesday, November 14, 2012)]
[Notices]
[Pages 67802-67804]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-27582]

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BUREAU OF CONSUMER FINANCIAL PROTECTION

Privacy Act of 1974, as Amended

AGENCY: Bureau of Consumer Financial Protection

ACTION: Notice of Proposed Privacy Act System of Records.

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SUMMARY: In accordance with the Privacy Act of 1974, as amended, the 
Bureau of Consumer Financial Protection, hereinto referred to as the 
Consumer Financial Protection Bureau (``CFPB'' or the ``Bureau''), 
gives notice of the establishment of a Privacy Act System of Records.

DATES: Comments must be received no later than December 14, 2012. The 
new system of records will be effective December 24, 2012, unless the 
comments received result in a contrary determination.

ADDRESSES: You may submit comments by any of the following methods:
     Electronic: privacy@cfpb.gov Mail/Hand Delivery/Courier: Claire Stapleton, Chief 
Privacy Officer, Consumer Financial Protection Bureau, 1700 G Street 
NW., Washington, DC 20552.

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 comments by telephoning (202) 435-7220. All comments, 
including attachments and other supporting materials, will become part 
of the public record and subject to public disclosure. You should 
submit only information that you wish to make available publicly.

FOR FURTHER INFORMATION CONTACT: Claire Stapleton, Chief Privacy 
Officer, Consumer Financial Protection Bureau, 1700 G Street NW., 
Washington, DC 20552, (202) 435-7220.

SUPPLEMENTARY INFORMATION: The Dodd-Frank Wall Street Reform and 
Consumer Protection Act (``Act''), Public Law No. 111-203, Title X, 
established the CFPB to administer and enforce federal consumer 
financial law. The new system of records described in this notice 
``CFPB.022--Market and Consumer Research Records'' will maintain 
records related to the CFPB's monitoring of risks to consumers in the 
offering or provision of consumer financial products or services, 
including developments in markets for such products or services; and to 
the CFPB's researching, analyzing, and reporting on consumer financial 
products or services, consumer awareness and understanding of the 
costs, risks, and benefits of such products or services, and consumer 
behavior with respect to such products or services. The CFPB will 
maintain control over the records covered by this notice.
    The report of the new system of records has been submitted to the 
Committee on Oversight and Government Reform of the House of 
Representatives, the Committee on Homeland Security and Governmental 
Affairs of the Senate, and the Office of Management and Budget, 
pursuant to Appendix I to OMB Circular A-130, ``Federal Agency 
Responsibilities for Maintaining Records About Individuals,'' dated 
November 30, 2000,\1\ and the Privacy Act, 5 U.S.C. 552a(r).
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    \1\ Although the CFPB, under 12 U.S.C. 5497(a)(4)(E), is not 
legally required to follow OMB-issued guidance, it voluntarily 
follows OMB privacy-related guidance as a best practice and to 
facilitate cooperation and collaboration with other agencies.
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    The system of records entitled ``CFPB.022--Market and Consumer 
Research Records'' is published in its entirety below.

    Dated: November 5, 2012.
Claire Stapleton,
Chief Privacy Officer, Bureau of Consumer Financial Protection.
CFPB.022

SYSTEM NAME:
    Market and Consumer Research Records.

SYSTEM LOCATION:
    Consumer Financial Protection Bureau, 1700 G Street NW., 
Washington, DC 20552.

CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM:
    Information in the system will contain records that have been 
collected from: providers of consumer financial products and services, 
consumer reporting agencies, and debt counselors; service providers to 
the above; consumers; government entities; and commercial and non-
profit entities that compile or otherwise possess data sets obtained 
from one or more of the above sources.

CATEGORIES OF RECORDS IN THE SYSTEM:
    Records in the system may include without limitation: (1) contact 
information for the categories of individuals mentioned above (e.g., 
names, phone numbers, email addresses, physical addresses, and 
governmental-issued identification numbers); (2) information collected 
from consumers as part of surveys, randomized controlled trials, or 
through other mechanisms; (3) consumer financial transaction data and 
other information related to consumers' financial statuses; (4) 
information about the legal relationships between consumers and market 
participants, such as contracts and dispute records; (5) information 
about commercial relationships between consumers and other market 
participants; and (6) information on consumer characteristics collected 
by market participants or other entities.

AUTHORITY FOR MAINTENANCE OF THE SYSTEM:
    Public Law 111-203, Title X, Sections 1013 and 1022 codified at 12 
U.S.C. 5493 and 5512.

PURPOSE(S):
    Records in this system are collected to enable the CFPB to monitor, 
research, analyze, and report information relevant to the functioning 
of markets for consumer financial products and services. This system 
will also enable CFPB to research, analyze, and report on

[[Page 67803]]

consumer financial products or services, consumer awareness and 
understanding of the costs, risks, and benefits of such products or 
services, and consumer behavior with respect to such products or 
services.
    In most cases, records will not contain personal identifiers. 
Records with personal identifiers will be used solely for purposes of 
matching the records with other datasets, which will better enable the 
CFPB to perform the statutory functions identified above. After the 
matching is complete, a de-identified copy of the matched dataset will 
be used for conducting research and analysis. The CFPB will use the 
personal identifiers after the matching only for the purpose of 
performing similar matches on future data acquisitions.

ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES 
OF USERS AND THE PURPOSES OF SUCH USES:
    These records may be disclosed, consistent with the CFPB Disclosure 
of Records and Information Rules, promulgated at 12 CFR 1070 et seq., 
to:
    (1) Appropriate agencies, entities, and persons when: (a) the CFPB 
suspects or has confirmed that the security or confidentiality of 
information in the system of records has been compromised; (b) the CFPB 
has determined that, as a result of the suspected or confirmed 
compromise, there is a risk of harm to economic or property interests, 
identity theft or fraud, or harm to the security or integrity of this 
system or other systems or programs (whether maintained by the CFPB or 
another agency or entity) that rely upon the compromised information; 
and (c) the disclosure made to such agencies, entities, and persons is 
reasonably necessary to assist in connection with the CFPB's efforts to 
respond to the suspected or confirmed compromise and prevent, minimize, 
or remedy such harm;
    (2) Another federal or state agency to (a) permit a decision as to 
access, amendment or correction of records to be made in consultation 
with or by that agency, or (b) verify the identity of an individual or 
the accuracy of information submitted by an individual who has 
requested access to or amendment or correction of records;
    (3) To the Office of the President in response to an inquiry from 
that office made at the request of the subject of a record or a third 
party on that person's behalf;
    (4) Congressional offices in response to an inquiry made at the 
request of the individual to whom the record pertains;
    (5) Contractors, agents, or other authorized individuals performing 
work on a contract, service, cooperative agreement, job, or other 
activity on behalf of the CFPB or Federal Government and who have a 
need to access the information in the performance of their duties or 
activities;
    (6) The U.S. Department of Justice (``DOJ'') for its use in 
providing legal advice to the CFPB or in representing the CFPB in a 
proceeding before a court, adjudicative body, or other administrative 
body, where the use of such information by the DOJ is deemed by the 
CFPB to be relevant and necessary to the advice or proceeding, and such 
proceeding names as a party in interest: (a) The CFPB; (b) Any employee 
of the CFPB in his or her official capacity; (c) Any employee of the 
CFPB in his or her individual capacity where DOJ has agreed to 
represent the employee; or (d) The United States, where the CFPB 
determines that litigation is likely to affect the CFPB or any of its 
components;
    (7) A court, magistrate, or administrative tribunal in the course 
of an administrative proceeding or judicial proceeding, including 
disclosures to opposing counsel or witnesses (including expert 
witnesses) in the course of discovery or other pre-hearing exchanges of 
information, litigation, or settlement negotiations, where relevant or 
potentially relevant to a proceeding, or in connection with criminal 
law proceedings;
    (8) A grand jury pursuant either to a federal or state grand jury 
subpoena, or to a prosecution request that such record be released for 
the purpose of its introduction to a grand jury, where the subpoena or 
request has been specifically approved by a court. In those cases where 
the Federal Government is not a party to the proceeding, records may be 
disclosed if a subpoena has been signed by a judge;
    (9) Appropriate federal, state, local, foreign, tribal, or self-
regulatory organizations or agencies responsible for investigating, 
prosecuting, enforcing, implementing, issuing, or carrying out a 
statute, rule, regulation, order, policy, or license if the information 
may be relevant to a potential violation of civil or criminal law, 
rule, regulation, order, policy or license; and
    (10) Appropriate federal, state, local, foreign, tribal, or self-
regulatory organizations or agencies that partner with the CFPB for 
research purposes.

POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, 
AND DISPOSING OF RECORDS IN THE SYSTEM:
STORAGE:
    Paper and electronic records.

RETRIEVABILITY:
    The records may contain personal identifiers for purposes of 
matching the records with other datasets. After the matching is 
complete, a de-identified copy of the matched dataset will be used for 
conducting research and analysis. The CFPB may retain the personal 
identifiers after the matching, but only for the purpose of performing 
similar matches on future data acquisitions.

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. 
During matching, identifiable data is solely under the control of a 
limited number of employees or contractors who are required to uphold 
confidentiality restrictions of the CFPB. In addition, any contract 
personnel who have access to the records are required to sign 
nondisclosure agreements prior to working with the data.

RETENTION AND DISPOSAL:
    The CFPB will maintain electronic and paper records indefinitely 
until the National Archives and Records Administration (``NARA'') 
approves the CFPB's records disposition schedule.

SYSTEM MANAGER(S) AND ADDRESS:
    Consumer Financial Protection Bureau, Associate Director, Research 
Markets and Regulations, 1700 G Street NW., Washington, DC 20552.

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 Title 
12, Chapter 10 of the CFR, ``Disclosure of Records and Information.'' 
Address such requests to: Chief Privacy Officer, Bureau of Consumer 
Financial Protection, 1700 G Street NW., Washington, DC 20552.

RECORD ACCESS PROCEDURES:
    See ``Notification Procedures'' above.

CONTESTING RECORD PROCEDURES:
    See ``Notification Procedures'' above.

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RECORD SOURCE CATEGORIES:
    Information in this system will be obtained from: providers of 
consumer financial products and services, consumer reporting agencies, 
and debt counselors; service providers to the above; consumers; 
government entities; and commercial and non-profit entities that 
compile or otherwise possess data sets obtained from one or more of the 
above sources. In addition, information may be added by CFPB employees 
and contractors involved in research tasks.

EXEMPTIONS CLAIMED FOR THE SYSTEM:
    None.

[FR Doc. 2012-27582 Filed 11-13-12; 8:45 am]
BILLING CODE 4810-AM-P
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