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[Federal Register Volume 77, Number 78 (Monday, April 23, 2012)]
[Notices]
[Pages 24183-24185]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-9667]

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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 May 23, 2012. The new 
system of records will be effective June 4, 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 or 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 (``Dodd-Frank Act''), Public Law 111-203, 
established the CFPB to administer and enforce federal consumer 
financial protection law. The Regulatory Flexibility Act (``RFA'') 
(Pub. L. 96-354) as amended by the Small Business Regulatory 
Enforcement Fairness Act of 1996 (Pub. L. 104-121) and section 1100G of 
the Dodd-Frank Act (Pub. L. 111-203) require the CFPB to notify the 
Small Business Administration's Chief Counsel for Advocacy (``Chief 
Counsel'') prior to issuing certain proposed rules and then to convene 
a review panel and collect advice and recommendations from 
representatives of small entities, as defined pursuant to the RFA, on 
potential economic impacts of the proposed rule under consideration. 
The RFA also requires the review panel to issue a public report on the 
comments of the small entity representatives and the panel's findings 
on certain matters (the ``review panel process'').
    In addition, the RFA, as amended, requires the CFPB to identify 
representatives of small entities in consultation with the Chief 
Counsel and to collect advice and recommendations from these 
representatives as to: (1) any projected increase in the cost of credit 
for small entities; and (2) significant alternatives to the proposed 
rule that minimize this impact prior to issuing it (the ``cost of 
credit consultation process'').
    The new system of records described in this notice, ``CFPB.017--
CFPB Small Business Review Panels and Cost of Credit Consultations,'' 
will maintain records concerning the activities and operations of the 
CFPB in connection with the review panel and cost of credit 
consultation processes as well as related outreach events.
    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

[[Page 24184]]

Individuals,'' dated November 30, 2000, and the Privacy Act, 5 U.S.C. 
552a(r).
    The system of records entitled ``CFPB.017--CFPB Small Business 
Review Panels and Cost of Credit Consultations'' is published in its 
entirety below.

    Dated: April 16, 2012.
Claire Stapleton,
Chief Privacy Officer.
CFPB.017

System Name:
    CFPB Small Business Review Panels and Cost of Credit Consultations.

System Location:
    Consumer Financial Protection Bureau, 1700 G Street NW., 
Washington, DC 20552.

Categories of individuals covered by the system:
    Individuals covered by this system include: (1) Individual 
representatives of small entities who, in their business capacity, may 
participate in or attend meetings held in connection with the review 
panel and cost of credit consultation processes or other CFPB related 
outreach events; and (2) other attendees or individual guests of small 
entity representatives who may attend meetings held in connection with 
the review panel and cost of credit consultation processes or other 
related outreach events; and (3) CFPB employees or other federal agency 
employees who participate in the events.

Categories of records in the system:
    Records in the system will include information related to small 
businesses, small organizations, and small governmental jurisdictions, 
as defined pursuant to the RFA, and individual representatives and 
guests of these small entities who are invited to or are attending 
meetings or consultations held in connection with the review panel and/
or cost of credit consultation processes or other events, or who are 
otherwise participating in or requesting to participate in such 
meetings, consultations, or other related events. Such information may 
include: (1) Contact information (name, title, telephone number, email 
address); (2) name of employer and memberships or affiliation with 
trade associations or other organizations; (3) applicable business size 
standard and North American Industry Classification System (NAICS) 
code; (4) annual revenues, asset size, and number of employees; (5) 
scope and nature of business activities; (6) affiliated entities; (7) 
invitations to and participation in the review panel or cost of credit 
consultation processes, or other CFPB related outreach event; (8) 
written comments, correspondence, or other materials submitted in 
connection with the review panel and/or cost of credit consultation 
processes; and (9) information necessary to obtain entry into a CFPB or 
other government facility (address, telephone number, date of birth, 
Social Security number, country of citizenship). Information maintained 
on individual guests of small entity representatives who may attend 
meetings held in connection with the review panel and/or cost of credit 
consultation processes or other CFPB related outreach events will 
include: (1) Contact information (name, title, telephone number, email 
address); (2) employer or sponsor name; (3) information on membership 
in or affiliation with trade associations or other organizations; (4) 
invitations to and participation or requested participation in the 
review panel and/or cost of credit consultation processes, or other 
CFPB related outreach event; and (5) information necessary to obtain 
entry into a CFPB or other government facility (address, telephone 
number, date of birth, Social Security number, country of citizenship).

Authority for maintenance of the system:
    Public Law 111-203, Title X, sections 1011 and 1012, codified at 12 
U.S.C. 5491 and 5492. Public Law 96-354, as amended by Public Law 104-
121 and Public Law 111-203, codified at 5 U.S.C. 601 et seq.

Purpose(s):
    The purpose of the system is to collect and maintain information 
relating to potential small entity representatives who may or will: (1) 
consult with the CFPB and other Small Business Review Panel members and 
provide advice and recommendations about the potential economic impacts 
of regulatory proposals under consideration on small entities subject 
to the proposals; and/or (2) consult with the CFPB about any projected 
impact on the cost of credit to small entities related to the proposals 
under consideration and significant alternatives to minimize any such 
impact while achieving statutory objectives. The system will also 
collect and maintain information relating to guests of small entity 
representatives who may or will attend such meetings or consultations 
with the CFPB and other Small Business Review Panel members. The 
records are used in connection with and for administration of the 
review panel and cost of credit consultation processes, including 
meetings or consultations with small entity representatives.

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 part 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) 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 before which the CFPB is authorized to appear, where the use of 
such information by the DOJ is deemed by the CFPB to be relevant and

[[Page 24185]]

necessary to the litigation, and such proceeding names as a party or 
interests:
    (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) The public in the form of a list of the individual and business 
names of the invited or selected participants;
    (9) Other representatives of small entities who have been invited 
or selected to participate in the review panel and/or cost of credit 
consultation processes and related meetings or other events, and 
persons attending such meetings, consultations, or other related 
events;
    (10) The Office of Advocacy of the Small Business Administration, 
the Office of Information and Regulatory Affairs within the Office of 
Management and Budget, and any of their employees in their official 
capacity; and
    (11) Appropriate federal organizations or agencies in connection 
with a joint or interagency rulemaking process or consultation.

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 one or more of the following: the name 
of the individual, business or employer name; membership or affiliation 
with trade associations or other organizations; applicable business 
size standard and NAICS code; affiliated entities; scope or nature of 
business activities.

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.

Retention and disposal:
    The CFPB will maintain electronic and paper records indefinitely 
until the National Archives and Records Administration approves the 
CFPB's records disposition schedule.

System manager(s) and address:
    Consumer Financial Protection Bureau, Small Business Regulatory 
Enforcement Fairness Act Manager, 1500 Pennsylvania Ave NW. (Attn: 1801 
L Street NW.), Washington, DC 20220.

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.

Record source categories:
    Information in this system is obtained directly from the individual 
who is the subject of these records, and/or the association or 
organization providing the information on behalf of one of its members, 
or individual guests of small entity representatives, and the CFPB 
staff involved in the Small Business and Cost of Consultation Panel 
meetings.

Exemptions claimed for the system:
    None.

[FR Doc. 2012-9667 Filed 4-20-12; 8:45 am]
BILLING CODE 4810-AM-P
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