CFPB Consumer Regulations Recodification

The Consumer Financial Protection Bureau (CFPB) has republished the federal banking regulations that have moved to its jurisdiction. To help you track the new coding, we offer this quick summary of the general code changes and follow with a more detailed cross reference of each section change.

CFPB Section Numbers		Original Agency Section Numbers
12 CFR 1002 — Equal Credit Opportunity Act (Regulation B)¹ PDF \| Text		FRB 12 CFR 202
1002.1 Authority, scope and purpose.		202.1
1002.2 Definitions.		202.2
1002.3 Limited exceptions for certain classes of transactions.		202.3
1002.4 General rules.		202.4
1002.5 Rules concerning requests for information.		202.5
1002.6 Rules concerning evaluation of applications.		202.6

The CFPB changes are complex, but Implementing Dodd-Frank Consumer Financial Protection Provisions breaks it down for financial institutions. You will quickly and easily understand, plan for, implement, and comply with the consumer protection provisions.

1002.7 Rules concerning extensions of credit.		202.7
1002.8 Special purpose credit programs.		202.8
1002.9 Notifications.		202.9
1002.10 Furnishing of credit information.		202.10
1002.11 Relation to state law.		202.11
1002.12 Record retention.		202.12
1002.13 Information for monitoring purposes.		202.13
1002.14 Rules on providing appraisal reports.		202.14
1002.15 Incentives for self-testing and self-correction.		202.15
1002.16 Enforcement, penalties and liabilities.		202.16
Appendix A to Part 1002—Federal Agencies to be Listed in Adverse Action Notices		Appendix A to Part 202
Appendix B to Part 1002—Model Application Forms		Appendix B to Part 202
Appendix C to Part 1002—Sample Notification Forms		Appendix C to Part 202
Appendix D to Part 1002—Issuance of Official Interpretations		Appendix D to Part 202
Supplement I to Part 1002—Official Interpretations		Supplement I to Part 202
12 CFR 1003 — Home Mortgage Disclosure (Regulation C)² PDF \| Text		FRB 12 CFR 203
1003.1 Authority, purpose, and scope.		203.1
1003.2 Definitions.		203.2
1003.3 Exempt institutions.		203.3
1003.4 Compilation of loan data.		203.4
1003.5 Disclosure and reporting.		203.5
1003.6 Enforcement.		203.6
Appendix A to Part 1003 — Form and Instructions for Completion of HMDA Loan/Application Register		Appendix A to Part 203
Appendix B to Part 1003 — Form and Instructions for Date Collection on Ethnicity, Race, and Sex		Appendix B to Part 203
Supplement I to Part 1003 — Staff Commentary		Supplement I to Part 203
12 CFR 1005 — Electronic Fund Transfers (Regulation E)³ PDF \| Text		Federal Reserve Board 12 CFR 205
1005.1 Authority and purpose.		205.1
1005.2 Definitions.		205.2
1005.3 Coverage.		205.3
1005.4 General disclosure requirements; jointly offered services.		205.4
1005.5 Issuance of access devices.		205.5
1005.6 Liability of consumer for unauthorized transfers.		205.6
1005.7 Initial disclosures.		205.7
1005.8 Change in terms notice; error resolution notice.		205.8
1005.9 Receipts at electronic terminals; periodic statements.		205.9
1005.10 Preauthorized transfers.		205.10
1005.11 Procedures for resolving errors.		205.11
1005.12 Relation to other laws.		205.12
1005.13 Administrative enforcement; record retention.		205.13
1005.14 Electronic fund transfer service provider not holding consumer’s account.		205.14
1005.15 Electronic fund transfer of government benefits.		205.15
1005.16 Disclosures at automated teller machines.		205.16
1005.17 Requirements for overdraft services.		205.17
1005.18 Requirements for financial institutions offering payroll card account.		205.18
1005.20 Requirements for gift cards and gift certificates.		205.20
Appendix A to Part 1005—Model Disclosure Clauses and Forms		Appendix A to Part 205
Appendix B to Part 1005—[Reserved]		Appendix B to Part 205—Federal Enforcement Agencies.
Appendix C to Part 1005—Issuance of Official Interpretations		Appendix C to Part 205
Supplement I to Part 1005—Official Interpretations		Appendix D to Part 205
12 CFR 1006 — Fair Debt Collection Practices Act (Regulation F)⁴ Subpart A — Procedures for State Application for Exemption from the Provisions of the Act PDF \| Text		FTC (FDCPA) 16 CFR 901
1006.1 Purpose and definitions.		901.1 Purpose
1006.2 Application.		901.2
1006.3 Supporting documents.		901.3
1006.4 Criteria for determination.		901.4
1006.5 Public notice of filing.		901.5
1006.6 Exemption from requirements.		901.6
1006.7 Adverse determination.		901.7
1006.8 Revocation of exemption.		901.8
12 CFR 1007 — S.A.F.E. Mortgage Licensing Act — Federal Registration of Residential Mortgage Loan Originators (Regulation G)⁵ PDF \| Text		OCC, FRB, FDIC, OTS, FCA, NCUA (12 CFR 34, 208 and 211, 365, 563, 610, 741 and 761)
1007.101 Authority, purpose, and scope of this part.		34.101, 208.101, 365.101, 563.101, 610.101, 761.101
1007.102 Definitions applicable to this part.		34.102, 208.102, 365.102, 563.102, 610.102 761.102
1007.103 Registration of mortgage loan originators.		34.103, 208.103, 365.103, 563.103, 610.103, 761.103
1007.104 Policies and procedures.		34.104, 208.104, 365.104, 563.104, 610.104, 761.104
1007.105 Use of Unique Identifier.		34.105, 208.105, 365.105, 563.104, 610.105, 761.105
Appendix A to Part 1007 — Examples of Mortgage Loan Originator Activities		Appendix A
12 CFR 1008 — S.A.F.E. Mortgage Licensing Act — State Compliance and Bureau Registration System (Regulation H)⁶ PDF \| Text		HUD 24 CFR 3400
1008.1 Purpose.		3400.1
1008.3 Confidentiality of information.		3400.3
Subpart A — General
1008.20 Scope of this subpart.		3400.20
1008.23 Definitions.		3400.23
Subpart B — Determination of State Compliance with the S.A.F.E. Act
1008.101 Scope of this subpart.		3400.101
1008.103 Individuals required to be licensed by states.		3400.103
1008.105 Minimum loan originator license requirements.		3400.105
1008.107 Minimum annual license renewal requirements.		3400.107
1008.109 Effective date of state requirements imposed on individuals.		3400.109
1008.111 Other minimum requirements for state licensing systems.		3400.111
1008.113 Performance standards.		3400.113
1008.115 Determination of noncompliance.		3400.115
Subpart C — Bureau’s Loan Originator Licensing System and Bureau’s Nationwide Mortgage Licensing and Registry System
1008.201 Scope of this subpart.		3400.201
1008.203 Bureau’s establishment of loan originator licensing system.		3400.203
1008.205 Bureau’s establishment of nationwide mortgage licensing system and registry.		3400.205
Subpart D — Minimum Requirements for Administration of the NMLSR
1008.301 Scope of this subpart.		3400.301
1008.303 Financial reporting.		3400.303
1008.305 Data security.		3400.305
1008.307 Fees.		3400.307
1008.309 Absence of liability for good-faith administration.		3400.309
Subpart E — Enforcement of Bureau Licensing System
1008.401 Bureau’s authority to examine loan originator records.		3400.401
1008.403 [Reserved].		3400.403 Enforcement Proceedings
1008.405 [Reserved].		3400.405 Civil Money Penalties
Appendix A to Part 1008 — Examples of Mortgage Loan Originator Activities		Appendix A to Part 3400
Appendix B to Part 1008 — Engaging in the Business of a Loan Originator: Commercial Context and Habitualness		Appendix B to Part 3400
Appendix C to Part 1008 — Independent Contractors and Loan Processor and Underwriter Activities That Require a State Mortgage Loan Originator License		Appendix C to Part 3400
Appendix D to Part 1008 — Attorneys: Circumstances that Require a State Mortgage Loan Originator License		Appendix D to Part 3400
12 CFR 1009 — Disclosure Requirements for Depository Institutions Lacking Federal Deposit Insurance (Regulation I)⁷ PDF \| Text		Federal Trade Commission 16 CFR 320
1009.1 Scope.		320.1
1009.2 Definitions.		320.1
1009.3 Disclosures in periodic statements and account records.		320.1
1009.4 Disclosures in advertising and on the premises.		320.4
1009.5 Disclosure acknowledgment.		320.5
1009.6 Exception for certain depository institutions.		320.6
1009.7 Enforcement.		320.7
12 CFR 1010 — Land Registration (Regulation J)⁸ PDF \| Text		HUD 24 CFR 1710 Land Registration
Subpart A — General Requirements
1010.1 Definitions		1710.1
1010.2 [Reserved]
1010.3 General applicability.		1710.3
1010.4 Exemptions — general.		1710.44
1010.5 Statutory exemptions.		1710.5
1010.6 One hundred lot exemption.		1710.6
1010.7 Twelve lot exemption.		1710.7
1010.8 Scattered site subdivisions.		1710.8
1010.9 Twenty acre lots.		1710.9
1010.9 Twenty acre lots.		1710.9
1010.10 Single-family residence exemption.		1710.10
1010.11 Manufactured home exemption.		1710.11
1010.12 Intrastate exemption.		1710.12
1010.13 Metropolitan Statistical Area (MSA) exemption.		1710.13
1010.14 Regulatory exemptions.		1710.14
1010.15 Regulatory exemption — multiple site subdivision — determination required.		1710.15
1010.16 Regulatory exemption — determination required.		1710.16
1010.17 Advisory opinion.		1710.17
1010.18 No action letter.		1710.18
1010.19 [Reserved]
1010.20 Requirements for registering a subdivision — Statement of Record — filing and form.		1710.20
1010.21 Effective dates.		1710.21
1010.22 Statement of record — initial or consolidated.		1710.22
1010.23 Amendment — filing and form.		1710.23
1010.24–1010.28 [Reserved]
1010.29 Use of property report — misstatements, omissions or representation of Bureau approval prohibited.		1710.29
1010.35 Payment of fees.		1710.35
1010.45 Suspensions.		1710.45
Subpart B — Reporting Requirements
1010.100 Statement of Record — format.		1710.100
1010.101 [Reserved]
1010.102 General instructions for completing the Statement of Record.		1710.102
1010.103 Developer obligated improvements.		1710.103
1010.104 [Reserved]
1010.105 Cover page.		1710.105
1010.106 Table of contents.		1710.106
1010.107 Risks of buying land.		1710.107
1010.108 General information.		1710.108
1010.109 Title to the property and land use.		1710.109
1010.110 Roads.		1710.110
1010.111 Utilities.		1710.111
1010.112 Financial information.		1710.112
1010.113 Local services.		1710.113
1010.114 Recreational facilities.		1710.114
1010.115 Subdivision characteristics and climate.		1710.115
1010.116 Additional information.		1710.116
1010.117 Cost sheet, signature of Senior Executive Officer.		1710.117
1010.118 Receipt, agent certification and cancellation page.		1710.118
1010.200 Instructions for Statement of Record, Additional Information and Documentation.		1710.200
1010.201–1010.207 [Reserved]
1010.208 General information.		1710.208
1010.209 Title and land use.		1710.209
1010.210 Roads.		1710.210
1010.211 Utilities.		1710.211
1010.212 Financial information.		1710.212
1010.214 Recreational facilities.		1710.214
1010.215 Subdivision characteristics and climate.		1710.215
1010.216 Additional information.		1710.216
1010.219 Affirmation.		1710.219
1010.310 Annual report of activity.		1710.310
Subpart C — Certification of Substantially Equivalent State Law
1010.500 General.		1710.500
1010.503 Notice of certification.		1710.503
1010.504 Cooperation among certified states and between certified states and the Director.		1710.504
1010.505 Withdrawal of state certification.		1710.505
1010.506 State/Federal filing requirements.		1710.506
1010.507 Effect of suspension or withdrawal of certification granted under 1010.501(a): Full disclosure requirement.		1710.507
1010.508 Effect of suspension of certification granted under § 1010.501(b): Sufficient protection requirement.		1710.508
1010.552 Previously accepted state filings.		1710.552
1010.556 Previously accepted state filings — amendments and consolidations.		1710.556
1010.558 Previously accepted state filings — notice of revocation rights on property report cover page.		1710.558
1010.559 Previously accepted state filings — notice of revocation rights in contracts and agreements.		1710.559
Appendix to Part 1010: Standard and Model Forms and Clauses
12 CFR 1011 — Purchasers’ Revocation Rights, Sales Practices and Standards (Regulation K)⁹ PDF \| Text		HUD 24 CFR 1715
Subpart A — Purchasers’ Revocation Rights
1011.1 General.		1715.1
1011.2 Revocation regardless of registration.		1715.2
1011.4 Contract requirements and revocation.		1715.3
1011.5 Reimbursement.		1715.4
Subpart B — Sales Practices and Standards
1011.10 General.		1715.10
1011.15 Unlawful sales practices — statutory provisions.		1715.15
1011.20 Unlawful sales practices—regulatory provisions.		1715.20
1011.25 Misleading sales practices.		1715.25
1011.27 Fair housing.		1715.27
1011.30 Persons to whom subpart B is inapplicable.		1715.30
Subpart C — Advertising Disclaimers
1011.50 Advertising disclaimers; subdivisions registered and effective with the Bureau.		1715.50
12 CFR 1012 — Special Rules of Practice (Regulation L)¹⁰ PDF \| Text		HUD 24 CFR 1720
Subpart A — [Reserved]
Subpart B — Filing Assistance
1012.30 Scope of this subpart.		1720.30
1012.35 Prefiling assistance.		1720.35
1012.40 Processing of filings.		1720.40
Subpart C — [Reserved]
Subpart D — Adjudicatory Proceedings
1012.105–1012.200 [Reserved]
1012.205 Suspension notice prior to effective date.		1720.205
1012.210 Hearings — suspension notice prior to effective date.		1720.210
1012.215 Notice of proceedings subsequent to effective date.		1720.215
1012.220 Hearings — notice of proceedings subsequent to effective date.		1720.220
1012.225 Suspension order for failure to cooperate.		1720.225
1012.230 Suspension order pending amendments.		1720.230
1012.235 Hearings — suspension orders for failure to cooperate and pending amendments.		1720.235
1012.236 Notice of proceedings to withdraw a State’s certification.		1720.236
1012.237 Hearings — notice of proceedings pursuant to withdrawal of state certification.		1720.237
1012.238 Notices of proceedings to terminate exemptions.		1720.238
1012.239 Hearings — notice of proceedings pursuant to exemptions.		1720.239
12 CFR 1013 — Consumer Leasing (Regulation M)¹¹ PDF \| Text		FRB 12 CFR 213
1013.1 Authority, scope, purpose, and enforcement.		213.1
1013.2 Definitions.		213.2
1013.3 General disclosure requirements.		213.3
1013.4 Content of disclosures.		213.4
1013.5 Renegotiations, extensions, and assumptions.		213.5
1013.6 [Reserved]		213.6
1013.7 Advertising.		213.7
1013.8 Record retention.		213.8
1013.9 Relation to state laws.		213.9
Appendix A to Part 1013 — Model Forms		Appendix A to Part 213
Appendix B to Part 1013 — [Reserved]		Appendix B to Part 213 Federal Enforcement Agencies
Appendix C to Part 1013 — Issuance of Official Interpretations		Appendix C to Part 213
Supplement I to Part 1013 — Official Interpretations		Supplement I to Part 213
12 CFR 1014 — Mortgage Acts and Practices — Advertising (Regulation N)¹² PDF \| Text		Federal Trade Commission 16 CFR 321
1014.1 Scope of regulations in this part.		321.1
1014.2 Definitions.		321.2
1014.3 Prohibited representations.		321.3
1014.4 Waiver not permitted.		321.4
1014.5 Recordkeeping requirements.		321.5
1014.6 Actions by states.		321.6
1014.7 Severability.		321.7
12 CFR 1015 — Mortgage Assistance Relief Services (Regulation O)¹³ PDF \| Text		Federal Trade Commission 16 CFR 322
1015.1 Scope of regulations in this part		322.1
1015.2 Definitions.		322.2
1015.3 Prohibited representations.		322.3
1015.4 Disclosures required in commercial communications.		322.4
1015.5 Prohibition on collection of advance payments and related disclosures.		322.5
1015.6 Assisting and facilitating.		322.6
1015.7 Exemptions.		322.7
1015.8 Waiver not permitted.		322.8
1015.9 Recordkeeping and compliance requirements.		322.9
1015.10 Actions by states.		322.10
1015.11 Severability.		322.11
12 CFR 1016 — Privacy of Consumer Financial Information (Regulation P)¹⁴ PDF \| Text		OCC, FRB, FDIC, OTS, NCUA, FTC (12 CFR 40, 216, 332, 573, 716; 16 CFR 313)
1016.1 Purpose and scope.		12 CFR 40.1, 216.1, 332.1, 573.1, 716.1; 16 CFR 313.1
1016.2 Model privacy form and examples.		12 CFR 40.2, 216.2, 332.2, 573.2, 716.2; 16 CFR 313.2
1016.3 Definitions.		12 CFR 40.3, 216.3, 332.3, 573.3, 716.3; 16 CFR 313.3
Subpart A — Privacy and Opt Out Notices
1016.4 Initial privacy notice to consumers required.		12 CFR 40.4, 216.4, 332.4, 573.4, 716.4; 16 CFR 313.4
1016.5 Annual privacy notice to customers required.		12 CFR 40.5, 216.5, 332.5, 573.5, 716.5; 16 CFR 313.5
1016.6 Information to be included in privacy notices.		12 CFR 40.6, 216.6, 332.6, 573.6, 716.6; 16 CFR 313.6
1016.7 Form of opt out notice to consumers; opt out methods.		12 CFR 40.7, 216.7, 332.7, 573.7, 716.7; 16 CFR 313.7
1016.8 Revised privacy notices.		12 CFR 40.8, 216.8, 332.8, 573.8, 716.8; 16 CFR 313.8
1016.9 Delivering privacy and opt out notices.		12 CFR 40.9, 216.9, 332.9, 573.9, 716.9; 16 CFR 313.9
Subpart B — Limits on Disclosures
1016.10 Limits on disclosure of nonpublic personal information to nonaffiliated third parties.		12 CFR 40.10, 216.10, 332.10, 573.10, 716.10; 16 CFR 313.10
1016.11 Limits on redisclosure and reuse of information.		12 CFR 40.11, 216.11, 332.11, 573.11, 716.11; 16 CFR 313.11
1016.12 Limits on sharing account number information for marketing purposes.		12 CFR 40.12, 216.12, 332.12, 573.12, 716.12; 16 CFR 313.12
Subpart C — Exceptions
1016.13 Exception to opt out requirements for service providers and joint marketing.		12 CFR 40.13, 216.13, 332.13, 573.13, 716.13; 16 CFR 313.13
1016.14 Exceptions to notice and opt out requirements for processing and servicing transactions.		12 CFR 40.14, 216.14, 332.14, 573.14, 716.14; 16 CFR 313.14
1016.15 Other exceptions to notice and opt out requirements.		12 CFR 40.15, 216.15, 332.15, 573.15, 716.15; 16 CFR 313.15
Subpart D — Relation to Other Laws
1016.16 Protection of Fair Credit Reporting Act.		12 CFR 40.16, 216.16, 332.16, 573.16, 716.16; 16 CFR 313.16
1016.17 Relation to state laws.		12 CFR 40.17, 216.17, 332.17, 573.17, 716.17; 16 CFR 313.17
Appendix to Part 1016 — Model Privacy Form		Appendix A to Parts 40, 216, 332, 573, 716; 16 CFR 313
12 CFR 1022 — Fair Credit Reporting (Regulation V)¹⁵ PDF \| Text		OCC, FRB, FDIC, OTS, NCUA, FTC (12 CFR 41, 222, 334, 571, 717 16 CFR 602, 603, 610, 611, 613, 614, 640, 641, 642, 660, 680, 698)
Subpart A — General Provisions
1022.1 Purpose, scope, and model forms and disclosures.		12 CFR 41.1, 222.1, 334.1, 571.1, 717.1
1022.2 Examples.		12 CFR 41.2, 222.2, 334.2, 571.2, 717.2
1022.3 Definitions.		12 CFR 41.3, 222.3, 334.3, 571.3, 717.3; 16 CFR 602, 603
Subpart B — [Reserved]		Reserved
Subpart C — Affiliate Marketing
1022.20 Coverage and definitions.		12 CFR 41.20, 222.20, 334.20, 571.20, 717.20; 16 CFR 680.3
1022.21 Affiliate marketing opt-out and exceptions.		12 CFR 41.21, 222.21, 334.21, 571.21, 717.21; 16 CFR 680.21
1022.22 Scope and duration of opt-out.		12 CFR 41.22, 222.22, 334.22, 571.22, 717.22; 16 CFR 680.22
1022.23 Contents of opt-out notice; consolidated and equivalent notices.		12 CFR 41.23, 222.23, 334.23, 571.23, 717.23; 16 CFR 680.23
1022.24 Reasonable opportunity to opt out.		12 CFR 41.24, 222.14, 334.24, 571.24, 717.24; 16 CFR 680.24
1022.25 Reasonable and simple methods of opting out.		12 CFR 41.25, 222.25, 334.25, 571.25, 717.25; 16 CFR 680.25
1022.26 Delivery of opt-out notices.		12 CFR 41.26, 222.26, 334.26, 571.26, 717.26; 16 CFR 680.26
1022.27 Renewal of opt-out.		12 CFR 41.27, 222.27, 334.27, 571.27, 717.27; 16 CFR 680.27 41.28, 222.28, 334.28, 571.28, 717.28; 16 CFR 680.28 Effective date, compliance date, and prospective application.
Subpart D — Medical Information
1022.30 Obtaining or using medical information in connection with a determination of eligibility for credit.		12 CFR 41.30, 222.30, 334.30, 571.30, 717.30
1022.31 Limits on redisclosure of information.		12 CFR 41.31, 222.31, 334.31, 571.31, 717.31
1022.32 Sharing medical information with affiliates.		12 CFR 41.32, 222.32, 334.32, 571.32, 717.32
Subpart E — Duties of Furnishers of Information
1022.40 Scope.		12 CFR 41.40, 222.40, 334.40, 571.40, 717.40; 16 CFR 660.1
1022.41 Definitions.		12 CFR 41.41, 222.41, 334.41, 571.41, 717.41: 16 CFR 660.2
1022.42 Reasonable policies and procedures concerning the accuracy and integrity of furnished information.		12 CFR 41.42, 222.42, 334.42, 571.42, 717.42; 16 CFR 660.3
1022.43 Direct disputes.		12 CFR 41.43, 222.43, 334.43, 571.43, 717.43; 16 CFR 660.4
Subpart F — Duties of Users Regarding Obtaining and Using Consumer Reports
1022.50–1022.53 [Reserved]
1022.54 Duties of users making written firm offers of credit or insurance based on information contained in consumer files.		16 CFR 642
Subpart G — [Reserved]
Subpart H — Duties of Users Regarding Risk-Based Pricing
1022.70 Scope.		12 CFR 222.70; 16 CFR 640.1
1022.71 Definitions.		12 CFR 222.71; 16 CFR 640.2
1022.72 General requirements for risk-based pricing notices.		12 CFR 222.72; 16 CFR 640.3
1022.73 Content, form, and timing of risk-based pricing notices.		12 CFR 222.73; 16 CFR 640.4
1022.74 Exceptions.		12 CFR 222.74; 16 CFR 640.5
1022.75 Rules of construction.		12 CFR 222.75; 16 CFR 640.6
Subpart I — Duties of Users of Consumer Reports Regarding Identity Theft
1022.80–1022.81 [Reserved]		12 CFR 41.80-41.81, 222.80-222.81, 334.80-334.81, 571.80-571.81 717.80-717.81 Reserved
1022.82 Duties of users regarding address discrepancies.		12 CFR 41.82, 222.82, 334.82, 571.82, 717.82: 16 CFR 641.1
Subparts J–L — [Reserved]		Subpart J — Identity Theft Red Flags
Subpart M — Duties of Consumer Reporting Agencies Regarding Identity Theft
1022.120 [Reserved]
1022.121 Active duty alerts.		16 CFR 613.1
1022.122 [Reserved]
1022.123 Proof of identity.		16 CFR 614.1
Subpart N — Duties of Consumer Reporting Agencies Regarding Disclosures to Consumers
1022.130 Definitions.		16 CFR 610.1
1022.131–1022.135 [Reserved]
1022.136 Centralized source for requesting annual file disclosures from nationwide consumer reporting agencies.		16 CFR 610.2
1022.137 Streamlined process for requesting annual file disclosures from nationwide specialty consumer reporting agencies.		16 CFR 610.3
1022.138 Prevention of deceptive marketing of free credit reports.		16 CFR 610.4
Subpart O — Miscellaneous Duties of Consumer Reporting Agencies
1022.140 Prohibition against circumventing or evading treatment as a consumer reporting agency.		16 CFR 611
Appendix A to Part 1022 [Reserved]		Reserved
Appendix B to Part 1022 — Model Notices of Furnishing Negative Information		OCC Reserved, FRB Appendix B to Part 222, FDIC Reserved, OTS Reserved
Appendix C to Part 1022 — Model Forms for Opt-Out Notices		Appendix C to 12 CFR 41, 222, 334, 571, 717; Appendix C to 16 CFR 698
Appendix D to Part 1022 — Model Forms for Firm Offers of Credit or Insurance		Reserved
Appendix E to Part 1022 — Interagency Guidelines Concerning the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies		Appendix E to 12 CFR 41, 222, 334, 571, 717; Appendix A to 16 CFR 660
Appendices F–G to Part 1022 [Reserved]		Reserved
Appendix H to Part 1022 — Model Forms for Risk-Based Pricing and Credit Score Disclosure Exception Notices		OCC, FRB, OTS Reserved
Appendix I to Part 1022 — Summary of Consumer Identity Theft Rights		Reserved
Appendix J to Part 1022 [Reserved]		Appendix J to 12 CFR 41, 222, 334, 571, 717 Interagency Guidelines on Identity Theft Detection, Prevention, and Mitigation
Appendix K to Part 1022 — Summary of Consumer Rights		Appendix F to 16 CFR 698
Appendix L to Part 1022 — Standardized Form for Requesting Annual File Disclosures
Appendix M to Part 1022 — Notice of Furnisher Responsibilities		Appendix G to 16 CFR 698
Appendix N to Part 1022 — Notice of User Responsibilities		Appendix H to 16 CFR 698
12 CFR 1024 — Real Estate Settlement Procedures Act (Regulation X)¹⁶ PDF \| Text		HUD 24 CFR 3500
1024.1 Designation.		3500.1 Designation and applicability.
1024.2 Definitions.		3500.2
1024.3 Questions or suggestions from public and copies of public guidance documents.		3500.3
1024.4 Reliance upon rule, regulation or interpretation by the Bureau.		3500.4
1024.5 Coverage of RESPA.		3500.5
1024.6 Special information booklet at time of loan application.		3500.6
1024.7 Good faith estimate.		3500.7
1024.8 Use of HUD–1 or HUD–1A settlement statements.		3500.8
1024.9 Reproduction of settlement statements.		3500.9
1024.10 One-day advance inspection of HUD–1 or HUD–1A settlement statement; delivery; recordkeeping.		3500.10
1024.11 Mailing.		3500.11
1024.12 No fee.		3500.12
1024.13 Relation to state laws.		3500.13
1024.14 Prohibition against kickbacks and unearned fees.		3500.14
1024.15 Affiliated business arrangements.		3500.15
1024.16 Title companies.		3500.16
1024.17 Escrow accounts.		3500.17
1024.18 Validity of contracts and liens.		3500.18
1024.19 Enforcement.		3500.19
1024.20 [Reserved]		3500.20
1024.21 Mortgage servicing transfers.		3500.21
1024.22 Severability.		3500.22
1024.23 ESIGN applicability.		3500.23
Appendix A to Part 1024 — Instructions for Completing HUD–1 and HUD–1A Settlement Statements; Sample HUD–1 and HUD–1A Statements		Appendix A
Appendix B to Part 1024 — Illustrations of Requirements of RESPA		Appendix B
Appendix C to Part 1024 — Instructions for Completing Good Faith Estimate (GFE) Form		Appendix C
Appendix D to Part 1024 — Affiliated Business Arrangement Disclosure Statement Format		Appendix D
Appendix E to Part 1024 — Arithmetic Steps		Appendix E
Appendix MS–1 to Part 1024 — Servicing Disclosure Statement		Appendix MS-1
Appendix MS–2 to Part 1024 — Notice of Assignment, Sale, or Transfer of Servicing Rights		Appendix MS-2
12 CFR 1026 — Truth in Lending (Regulation Z)¹⁷ PDF \| Text		FRB Regulation Z 12 CFR 226
Subpart A — General		Subpart A — General
1026.1 Authority, purpose, coverage, organization, enforcement, and liability.		226.1
1026.2 Definitions and rules of construction.		226.2
1026.3 Exempt transactions.		226.3
1026.4 Finance charge.		226.4
Subpart B — Open-End Credit		Subpart B — Open-End Credit
1026.5 General disclosure requirements.		226.5
1026.6 Account-opening disclosures.		226.6
1026.7 Periodic statement.		226.7
1026.8 Identifying transactions on periodic statements.		226.8
1026.9 Subsequent disclosure requirements.		226.9
1026.10 Payments.		226.10
1026.11 Treatment of credit balances; account termination.		226.11
1026.12 Special credit card provisions.		226.12
1026.13 Billing error resolution.		226.13
1026.14 Determination of annual percentage rate.		226.14
1026.15 Right of rescission.		226.15
1026.16 Advertising.		226.16
Subpart C — Closed-End Credit		Subpart C — Closed-End Credit
1026.17 General disclosure requirements.		226.17
1026.18 Content of disclosures.		226.18
1026.19 Certain mortgage and variable-rate transactions.		226.19
1026.20 Subsequent disclosure requirements.		226.20
1026.21 Treatment of credit balances.		226.21
1026.22 Determination of annual percentage rate.		226.22
1026.23 Right of rescission.		226.23
1026.24 Advertising.		226.24
Subpart D — Miscellaneous		Subpart D — Miscellaneous
1026.25 Record retention.		226.25
1026.26 Use of annual percentage rate in oral disclosures.		226.26
1026.27 Language of disclosures.		226.27
1026.28 Effect on state laws.		226.28
1026.29 State exemptions.		226.29
1026.30 Limitation on rates.		226.30
Subpart E — Special Rules for Certain Home Mortgage Transactions		Subpart E — Special Rules for Certain Mortgage Transactions
1026.31 General rules.		226.31
1026.32 Requirements for certain closed-end home mortgages.		226.32
1026.33 Requirements for reverse mortgages.		226.33
1026.34 Prohibited acts or practices in connection with high-cost mortgages.		226.34
1026.35 Prohibited acts or practices in connection with higher-priced mortgage loans.		226.35
1026.36 Prohibited acts or practices in connection with credit secured by a dwelling.		226.36
1026.37–1026.38 [Reserved]		226.37 – 226.38
1026.39 Mortgage transfer disclosures.		226.39
1026.40 Requirements for home equity plans.		226.5b
1026.41 [Reserved]		226.41
1026.42 Valuation independence.		226.42
1026.43–1026.45 [Reserved]		226.43 – 226.45
Subpart F — Special Rules for Private Education Loans		Subpart F — Special Rules for Private Education Loans
1026.46 Special disclosure requirements for private education loans.		226.46
1026.47 Content of disclosures.		226.47
1026.48 Limitations on private education loans.		226.48
Subpart G — Special Rules Applicable to Credit Card Accounts and Open-End Credit Offered to College Students		Subpart G — Special Rules Applicable to Credit Card Accounts and Open-End Credit Offered to College Students
1026.51 Ability to Pay.		226.51
1026.52 Limitations on fees.		226.52
1026.53 Allocation of payments.		226.53
1026.54 Limitations on the imposition of finance charges.		226.54
1026.55 Limitations on increasing annual percentage rates, fees, and charges.		226.55
1026.56 Requirements for over-the-limit transactions.		226.56
1026.57 Reporting and marketing rules for college student open-end credit.		226.57
1026.58 Internet posting of credit card agreements.		226.58
1026.59 Reevaluation of rate increases.		222.59
1026.60 Credit and charge card applications and solicitations.		226.5a
Appendix A to Part 1026 — Effect on State Laws		Appendix A to Part 1026 — Effect on Laws
Appendix B to Part 1026 — State Exemptions		Appendix B to Part 1026 — State Exemptions
Appendix C to Part 1026 — Issuance of Official Interpretations		Appendix C to Part 1026 — Issuance of Official Interpretations
Appendix D to Part 1026 — Multiple Advance Construction Loans		Appendix D to Part 1026 — Multiple Advance Construction Loans
Appendix E to Part 1026 — Rules for Card Issuers That Bill on a Transaction-by-Transaction Basis		Appendix E to Part 1026 — Rules for Card Issuers That Bill on a Transaction-by-Transaction Basis
Appendix F to Part 1026 — Optional Annual Percentage Rate Computations for Creditors Offering Open-End Credit Plans Secured by a Consumer’s Dwelling		Appendix F to Part 1026 — Optional Annual Percentage Rate Computations for Creditors Offering Open-End Credit Plans Secured by a Consumer’s Dwelling
Appendix G to Part 1026 — Open-End Model Forms and Clauses		Appendix G to Part 1026 — Open-End Model Forms and Clauses
Appendix H to Part 1026 — Closed-End Model Forms and Clauses		Appendix H to Part 1026 — Closed-End Model Forms and Clauses
Appendix I to Part 1026 — [Reserved]		Appendix I to Part 1026 — [Reserved]
Appendix J to Part 1026 — Annual Percentage Rate Computations for Closed-End Credit Transactions		Appendix J to Part 1026 — Annual Percentage Rate Computations for Closed-End Credit Transactions
Appendix K to Part 1026 — Total Annual Loan Cost Rate Computations for Reverse Mortgage Transactions		Appendix K to Part 1026 — Total Annual Loan Cost Rate Computations for Reverse Mortgage Transactions
Appendix L to Part 1026 — Assumed Loan Periods for Computations of Total Annual Loan Cost Rates		Appendix L to Part 1026 — Assumed Loan Periods for Computations of Total Annual Loan Cost Rates
Appendix M1 to Part 1026 — Repayment Disclosures		Appendix M1 to Part 1026 — Repayment Disclosures
Appendix M2 to Part 1026 — Sample Calculations of Repayment Disclosures		Appendix M2 to Part 1026 — Sample Calculations of Repayment Disclosures
Supplement I to Part 1026 — Official Interpretations		Supplement I to Part 1026 — Official Interpretations
12 CFR 1030 — Truth in Savings (Regulation DD)¹⁸ PDF \| Text		FRB 12 CFR 230, NCUA 12 CFR 707
1030.1 Authority, purpose, coverage, and effect on state laws.		230.1, 707.1
1030.2 Definitions.		230.2, 707.2
1030.3 General disclosure requirements.		230.3, 707.3
1030.4 Account disclosures.		230.4, 707.4
1030.5 Subsequent disclosures.		230.5, 707.5
1030.6 Periodic statement disclosures.		230.6, 707.6
1030.7 Payment of interest.		230.7, 707.7
1030.8 Advertising.		230.8, 707.8
1030.9 Enforcement and record retention.		230.9, 707.9
1030.10 [Reserved]		230.10. 707.10
1030.11 Additional disclosure requirements for overdraft services.		230.12, 707.11
Appendix A to Part 1030 — Annual Percentage Yield Calculation		Appendix A to Parts 230, 707
Appendix B to Part 1030 — Model Clauses and Sample Forms		Appendix B to Parts 230, 707
Appendix C to Part 1030 — Effect on State Laws		Appendix C to Parts 230, 707
Appendix D to Part 1030 — Issuance of Official Interpretations		Appendix D to Parts 230, 707
Supplement I to Part 1030 — Official Interpretations		Supplement I to Parts 230, 707

The following summaries of the Interim Final Rules are excerpted from the Consumer Financial Protection Bureau’s Federal Register discussion of the new CFPB rules.

1. § 1002.1 Equal Credit Opportunity Act (Regulation B)
Authority: 12 USC 5512, 5581; 15 USC 1691b.

Summary of the Interim Final Rule
A. General
The interim final rule substantially duplicates the Board’s Regulation B as the Bureau’s new Regulation B, 12 CFR 1002, making only certain nonsubstantive, technical, formatting, and stylistic changes. To minimize any potential confusion, the Bureau is preserving the numbering systems of the Board’s Regulation B, other than the new part number. While this interim final rule generally incorporates the Board’s existing regulatory text, appendices (including model forms and clauses), and supplements, as amended, the rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. Notably this interim final rule does not impose any new substantive obligations on regulated entities. In future rulemakings, the Bureau expects to amend Regulation B to implement certain other changes to ECOA made by the Dodd-Frank Act, such as the addition of small business loan data collection and changes to consumers’ right to a copy of an appraisal, as well as possibly increasing the duration of Regulation B’s record-keeping requirement in light of the expansion of the statute of limitations under the Dodd-Frank Act from two to five years.

B. Specific Changes
The Bureau has made certain nomenclature and other non-substantive changes consistently throughout Regulation B. References to the Board and its administrative structure have been replaced with references to the Bureau. Conforming edits have been made to internal cross-references and addresses for filing applications and notices. Conforming edits have also been made to reflect the scope of the Bureau’s authority pursuant to ECOA, as amended by the Dodd-Frank Act. Historical references that are no longer applicable, and references to effective dates that have passed, have been removed as appropriate. In addition, certain changes have been made to the text of the Board’s Regulation B to conform to current codification standards of the Code of Federal Regulations. For example, footnotes have been eliminated and their substance moved to the body of the regulation as appropriate. Finally, § 1002.16(b)(2), as adopted by this interim final rule, reflects the five-year statute of limitations for civil actions under ECOA or Regulation B, as increased from the previous two years by the Dodd-Frank Act. The Board’s Appendix A has been revised in this interim final rule to update the Federal agencies that should be listed by particular categories of creditors in adverse action notices pursuant to § 1002.9(b)(1). Thus, the list has been revised to reflect the elimination of the Office of Thrift Supervision and the grant of enforcement authority under ECOA to the Bureau for depository institutions and credit unions with total assets of more than $10 billion and their affiliates.

With regard to nonbank creditors (other than affiliates of large depository institutions and credit unions), the interim final rule has left the language of Appendix A to the Board’s Regulation B, 12 CFR 202, unchanged for the time being. The Dodd-Frank Act assigned the Bureau enforcement authority with respect to such nonbank entities generally and created an Office of Fair Lending and Equal Opportunity within the Bureau to focus on fair, equitable, and nondiscriminatory access to credit. The interim rule’s Appendix A has been adjusted to focus on the Federal agencies that should be identified in adverse action notices pursuant to § 1002.9(b)(1). As revised, Appendix A is therefore not intended to describe the allocation of enforcement authority for ECOA and Regulation B following Dodd-Frank, but rather to specify efficient points of contact. The Bureau expects that agencies that receive ECOA complaints or inquiries will share that information with other agencies as appropriate. The Bureau intends to work closely with other relevant Federal agencies regarding the optimal intake and routing of fair lending complaints and inquiries for nonbank entities. Thus, the Bureau has delayed making additional updates to Appendix A pending this interagency coordination.

2. Home Mortgage Disclosure (Regulation C)
Authority: 12 USC 2803, 2804, 2805, 5512, 5581.

Summary of the Interim Final Rule
A. General
The interim final rule substantially duplicates the Board’s Regulation C as the Bureau’s new Regulation C, 12 CFR 1003, making only certain nonsubstantive, technical, formatting, and stylistic changes. To minimize any potential confusion, the Bureau is preserving the past numbering of the Board’s Regulation C, other than the new part number and the enumeration of the individual definitions in § 1003.2. While this interim final rule generally incorporates the Board’s existing regulatory text, appendices (including model forms and clauses), and supplements, the rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. Notably, this interim final rule does not impose any new substantive obligations on regulated entities. In future rulemakings, the Bureau expects to amend Regulation C to implement certain changes to HMDA made by the Dodd-Frank Act.

B. Specific Changes
The rule has been changed to effect technical, non-substantive changes to the Board’s existing regulatory text of Regulation C. References to the Board and its administrative structure have been replaced with references to the Bureau. Conforming edits have been made to internal cross-references and addresses for filing documentation. Paragraph lettering for definitions has been removed. Conforming edits have been made to reflect the scope of the Bureau’s authority pursuant to HMDA, as amended by the Dodd-Frank Act.

Historical references that are no longer applicable, and references to effective dates that have passed, have been removed.

Conforming edits have also been made to reflect new Office of Management and Budget (OMB) control numbers issued for information collections required by Regulation C. Specifically, Form FR HMDA–LAR, the Loan/Application Register Transmittal Sheet, has been edited to add OMB control numbers for the Bureau of Consumer Financial Protection and the National Credit Union Administration and to remove the control number formerly used by the Office of Thrift Supervision.

This interim final rule modifies the current regulatory text by including the Bureau of Consumer Financial Protection as an appropriate Federal agency for receiving reports and removes the Office of Thrift Supervision as an entity to whom financial institutions may be required to report data under HMDA. The Bureau is issuing guidance concurrently with the issuance of this interim rule regarding the appropriate Federal agency to which each financial institution should report 2011 data pursuant to HMDA.

The Dodd-Frank Act amended HMDA to require covered financial institutions to report data with respect to, among other things, the age of mortgagors and mortgage applicants, points and fees payable at origination in connection with a mortgage, the difference between the annual percentage rate associated with a loan and a benchmark rates or rates for all loans, the term in months of any prepayment penalty or other fee or charge payable on repayment of some portion of principal or the entire principal in advance of scheduled payment, the value of the real property pledged or proposed to be pledged as collateral, the actual or proposed term in months of any introductory period after which the rates of interest may change for a loan, the presence of contractual terms or proposed contract terms that would allow the mortgagor or applicant to make payments other than fully amortizing payments during any portion of the loan term, the actual or proposed term in months of the mortgage, the channel through which the mortgage application was made, and the credit score of mortgage applicants and mortgagors. A change to the regulatory text to require collection of additional data pursuant to the Dodd-Frank Act is a substantive change that is beyond the scope of this interim final rule. Therefore, the Bureau will address those substantive amendments to the HMDA data elements in a future rulemaking.

Institutions are not required to report additional data required by section 304(b)(5) and (6) of HMDA, as amended, “before the first January 1 that occurs after the end of the 9-month period beginning on the date on which regulations are issued by the Bureau in final form with respect to such disclosures.” Further, financial institutions are unable to comply with the obligation to report data regarding the age of mortgagors and mortgage applicants, which is required pursuant to section 304(b)(4) of HMDA, until the Bureau provides the necessary guidance on the manner of such reporting, including modification of the HMDA Loan/Application Register (HMDA–LAR) form to accommodate the reporting of age data. Therefore, the Bureau believes that the requirements to report all of the new data elements under HMDA section 304(b)(4)-(6) cannot be effective until the Bureau completes a future rulemaking with respect to the reporting of such data.

3. Electronic Fund Transfers (Regulation E)
Authority: 12 USC 5512, 5581; 15 USC 1693b.

Summary of the Interim Final Rule
A. General
The interim final rule substantially duplicates the Board’s Regulation E as the Bureau’s new Regulation E, 12 CFR 1005, making only certain nonsubstantive, technical, formatting, and stylistic changes. To minimize any potential confusion, the Bureau is preserving the numbering of the Board’s Regulation E, other than the new part number. While this interim final rule generally incorporates the Board’s existing regulatory text, appendices (including model forms and clauses), and supplements, the rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. Notably, this interim final rule does not impose any new substantive obligations on regulated entities.

B. Specific Changes
The Bureau has made certain nomenclature and other non-substantive changes consistently throughout Regulation E. References to the Board and its administrative structure have been replaced with references to the Bureau. Conforming edits have been made to internal cross-references, as well as addresses or other contact information. Conforming edits have also been made to reflect the scope of the Bureau’s authority pursuant to the EFTA, as amended by the Dodd-Frank Act. Historical references that are no longer applicable, and references to effective dates that have passed, have been removed as appropriate. In addition, certain changes have been made to the text of the Board’s Regulation E to conform to current codification standards of the Code of Federal Regulations. For example, previously undesignated paragraphs in the regulation and the official commentary have been enumerated. The Bureau is eliminating three provisions of Regulation E that are no longer applicable and renumbering one section that is affected by this deletion. The deleted provisions include the following:

Section 1005.3(b)(2)(iii), which expired December 31, 2009. What would have been § 1005.3(b)(2)(iv) was renumbered 1005.3(b)(2)(iii).
Section 1005.3(b)(3)(iii), which expired December 31, 2007.
Section 1005.16(d), which provided a technical exemption for certain automated teller machines through December 31, 2004.
What would have been § 1005.16(e) was renumbered 1005.16(d).

The Bureau is also eliminating Appendix B, entitled ‘‘Federal Enforcement Agencies,’’ because it was designed to be informational only and is unnecessary for the implementation of the EFTA, as amended.

Moreover, the Bureau is revising Form A–9, Model Consent Form for Overdraft Services, in Appendix A to the Bureau’s new Regulation E. The revised Form A–9 is, however, identical to the Board’s version in substance. The only revision was to modernize the spelling of ‘‘website’’ (in place of ‘‘Web site’’) to parallel a stylistic change the Bureau is making in the corresponding regulatory text of §§ 1005.18 and 1005.20. This change does not necessitate any revision to standard forms that institutions may use in reliance on Model Form A–9 because the term, ‘‘website,’’ appears in the model form within brackets, indicating that the institution is to replace the placeholder with its own website address. Thus, neither ‘‘website’’ nor ‘‘website’’ appears in overdraft services consent forms actually delivered to consumers.

Finally, the Bureau is updating references to the EFTA by correcting statutory citations to the EFTA in cases where the numbering of the Act was altered by section 1084 of the Dodd-Frank Act. These updated references occur in the following provisions of Regulation E:

Section 1005.3(c)(5)
Section 1005.3(c)(7)
Section 1005.12(c)(2)
Section 1005.13(b)(2)
Section 1005.20(h)(2)
Appendix C — Official Interpretations

4. Fair Debt Collection Practices Act (Regulation F)
Subpart B—[Reserved]
Authority: 12 USC 5512, 5581; 15 USC 1692o.

Summary of the Interim Final Rule
A. General
The interim final rule substantially duplicates the Commission’s rule related to state exemptions under the FDCPA as the Bureau’s new Regulation F, 12 CFR 1006, making only certain non-substantive, technical, formatting, and stylistic changes. Subpart A of Regulation F contains the rule related to state exemptions under the FDCPA. Subpart B is reserved for any future rulemaking by the Bureau under the FDCPA. To minimize any potential confusion, other than republishing the Commission’s rule in 16 CFR 901 with the Bureau’s part number, the Bureau is preserving where possible the numbering the Commission used in 16 CFR 901. Additionally, while this interim final rule generally incorporates the Commission’s existing regulatory text, the rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. Notably, this interim final rule does not impose any new substantive obligations on regulated entities.

B. Specific Changes
Footnotes 1 and 2 in the Commission’s rule (16 CFR 901.2) that provide guidance on the meaning of ‘‘state law’’ and ‘‘class of debt collection practices’’ respectively were moved to a newly-created subsection for definitions in § 1006.1. Footnote 3 in the Commission’s rule (16 CFR 901.4) was moved to newly-created paragraph (a)(2) in § 1006.4, and other text in that section was renumbered accordingly. In § 1006.5, an address in the Commission’s rule (16 CFR 901.5) is replaced with an address for the Bureau, indicating where interested parties may go to review applications submitted by states for exemptions from the FDCPA. In addition, the Commission’s rule (16 CFR 901.6) indicated that the Commission would inform the appropriate official of any state that receives such an exemption of any subsequent amendments of the FDCPA (including the Commission’s formal advisory opinions, and informal staff interpretations issued by an authorized official or employee of the Commission). In § 1006.6, the Bureau indicates that it will inform the appropriate official of any state that receives such an exemption of any subsequent amendments to the FDCPA or Regulation F. The Bureau anticipates that it will adopt any additional guidance on the FDCPA as part of Regulation F, instead of through formal advisory opinions or informal staff interpretations. In addition, references to the Commission and its administrative structure have been replaced with references to the Bureau. Conforming edits have been made to internal cross-references. Conforming edits have also been made to reflect the scope of the Bureau’s authority pursuant to the FDCPA, as amended by the Dodd-Frank Act.

5. S.A.F.E. Mortgage Licensing Act (Regulation G)
Authority: 12 USC 5101–5116; 15 USC 1604(a), 1639b; Pub. L. 111–203, 124 Stat. 1376.
OCC, FRB, FDIC, OTS, FCA, NCUA
12 CFR 34, 208 & 211, 365, 563, 610, 741 & 761

Summary of the Interim Final Rule
A. General
The interim final rule substantially duplicates the Federal registry agencies’ largely identical coordinated rules as the Bureau’s new Regulation G, 12 CFR 1007, making only certain nonsubstantive, technical, formatting, and stylistic changes. The interim final rule also substantially duplicates HUD’s rule as the Bureau’s new Regulation H, 12 CFR 1008. To minimize any potential confusion, the Bureau is preserving the past numbering systems of the Federal registry agencies and HUD, other than the new part numbers and, with respect to Regulation G, the enumeration of the individual definitions in section 1007.102. While this interim final rule generally incorporates and consolidates the largely identical rules of the Federal registry agencies and HUD, the rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. Notably, this interim final rule does not impose any new substantive obligations on regulated entities. Regulated entities and their employees that were registered with the Nationwide Mortgage Licensing System and Registry and had obtained unique identifiers pursuant to the regulations of the Federal registry agencies as of the effective date of this Regulation G will be considered by the Bureau to have registered pursuant to the new Regulation G.

B. Specific Changes
The new Regulation G consolidates the regulations of the Office of the Comptroller of the Currency (12 CFR 34); the Federal Reserve System (12 CFR 208 and 211); the Federal Deposit Insurance Corporation (12 CFR 365); the Office of Thrift Supervision (12 CFR 563); the Farm Credit Administration (12 CFR 610); and the National Credit Union Administration (12 CFR 741 and 761) pursuant to the conforming changes in section 1100 of the Dodd-Frank Act. Further, the new Regulation H has been changed to effect technical, non-substantive changes to HUD’s existing regulatory text of 24 CFR 3400.

For both Regulations G and H, references to the respective banking agencies and HUD have been replaced with references to the Bureau in the new regulations. Conforming edits have been made to internal cross-references. Conforming edits have also been made to reflect the scope of the Bureau’s authority pursuant to the requirements of the S.A.F.E. Act, as amended by the Dodd-Frank Act. For example, references to the Federal registry agencies and HUD and their respective administrative structures have been replaced with references to the Bureau and its administrative structure.

Conforming edits have been made to internal cross-references and addresses. Historical references that are no longer applicable, and references to effective dates that have passed, have been removed.

6. S.A.F.E. Mortgage Licensing Act (Regulation H)
Authority: 12 USC 5101–5116; Pub. L. 111–203, 124 Stat. 1376.

Conforming edits have been made to internal cross-references and addresses. Historical references that are no longer applicable, and references to effective dates that have passed, have been removed.

7. Disclosure Requirements for Depository Institutions Lacking Federal Deposit Insurance (Regulation I).
Authority: 12 USC 1831t, 5512, 5581.

Summary of the Interim Final Rule
A. General
The interim final rule substantially duplicates the Commission’s rule in 16 CFR 320 as the Bureau’s new Regulation I, 12 CFR 1009, making only certain non-substantive, technical, formatting, and stylistic changes. To minimize any potential confusion, other than republishing the Commission’s existing rule in 16 CFR 320 with the Bureau’s part number, the Bureau is preserving where possible the numbering the Commission used in its existing rule. Additionally, while this interim final rule generally incorporates the Commission’s existing regulatory text, the rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. Notably, this interim final rule does not impose any new substantive obligations on regulated entities.

B. Specific Changes
A paragraph that was not enumerated in the Commission’s rule (16 CFR 320.5) is enumerated as paragraph (c)(2) in § 1009.5, and other provisions in § 1009.5 are renumbered accordingly. In § 1009.7, the provision specifying enforcement authority for the requirements set forth in Regulation I is revised from that in the Commission’s rule (16 CFR 320.7) to reflect changes made to the enforcement authority by the Dodd-Frank Act. In addition, references to the Commission and its administrative structure have been replaced with references to the Bureau. Conforming edits have been made to internal cross-references. Conforming edits have also been made to reflect the scope of the Bureau’s authority pursuant to the FDIA to issue implementing regulations for disclosures required of depository institutions lacking Federal deposit insurance, as amended by the Dodd-Frank Act.

8. Land Registration (Regulation J)
Authority: 12 USC 5512, 5581; 15 USC 1718

Summary of the Interim Final Rule
A. General
The interim final rule substantially duplicates HUD’s Interstate Land Sales Registration Program regulations, 24 CFR 1710, 1715, and 1720, as the Bureau’s new Regulation J (Land Registration), 12 CFR 1010; new Regulation K (Purchasers’ Revocation Rights, Sales Practices and Standards), 12 CFR 1011; and new Regulation L (Special Rules of Practice), 12 CFR 1012, making only certain nonsubstantive, technical, formatting, and stylistic changes. To minimize any potential confusion, the Bureau is preserving the numbering of HUD’s ILSA regulations other than the new part numbers. While this interim final rule generally incorporates HUD’s existing regulatory text, including model forms and clauses, the rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. Notably this interim final rule does not impose any new substantive obligations on regulated entities.

B. Specific Changes
This interim final rule makes numerous amendments throughout HUD’s existing regulatory text to reflect ILSA’s transfer to the Bureau. “Secretary” is replaced with “Director,” “Department of Housing and Urban Development” with “Bureau of Consumer Financial Protection,” and “Department” with “Bureau.” Model language for disclosure and other purposes that appeared in the text of HUD’s ILSA regulations has been moved to a new appendix. The model clauses and the sections of HUD’s regulations that address these model clauses include:

I. Developers Affirmation for Land Sale § 1710.13(a)(9)
II. Language Notifying Buyer of Option to Cancel Contract § 1710.15(b)(5)(i)
III. Sample Lot Information Statement and Sample Receipt § 1710.15(b)(11)
IV. Request for Multiple Site Subdivision Exemption § 1710.15(c)(1)
V. Request for Regulatory Exemption Order § 1710.16(c)
VI. Developer’s Affirmation for Advisory Opinion § 1710.17(b)(3)
VII. Initial and Consolidated Registration Fee Schedule § 1710.35(b)
VIII. Property Report § 1710.100(b)
IX. Sample Page for Statement of Record § 1710.102(e)
X. Language for Warning on Cover Page of Property Report § 1710.105(c)
XI. Sample Entry in Table of Contents for Statement of Record § 1710.106(a)
XII. Required Paragraphs for Risks of Buying Land § 1710.107(a)
XIII. Format for General Information § 1710.108
XIV. Paragraphs To Be Included in the General Report—Title to the Property and Land Use § 1710.109(a)(1)
XV. Statement on Release Provisions § 1710.109(c)(2)(i)(A)
XVI. Warning for Release Provisions § 1710.109(c)(2)(i)(C)(1)
XVII. Method and Purpose of Recording Warning § 1710.109(d)(1)(iv)
XVIII. Escrow Statement Disclosure § 1710.109(e)(1)
XIX. Road Chart § 1710.110(b)(3)
XX. Nearby Communities Chart § 1710.110(b)(6)
XXI. Water Chart Form § 1710.111(a)(1)(ii)(B)
XXII. Comfort Station Chart § 1710.111(b)(1)(ii)
XXIII. Sewer Chart § 1710.111(b)(1)(iii)(B)
XXIV. Electric Service Chart § 1710.111(c)(2)
XXV. Recreational Facility Chart § 1710.114(b)
XXVI. Cost Sheet Format § 1710.117(a)
XXVII. Sample Receipt, Agent Certification and Cancellation Page § 1710.118(a)
XXVIII. Affirmation of Senior Executive Officer § 1710.219
XXIX. Form for Certification for Disclosure Documents § 1710.504(a)(2)
XXX. Language To Be Included on Property Report Cover Page § 1710.558(a)(1)
XXXI. Notice of Revocation Rights § 1710.559(a)(1)

Many procedural rules previously contained in 12 CFR 1720 have been eliminated as duplicative of the procedural rules that the Bureau promulgated in 12 CFR 1081 earlier this year. Parties proceeding under ILSA should therefore be generally guided by 12 CFR 1081 to the extent ILSA and the procedural rules contained in 12 CFR 1012 do not address specific procedures.
Conforming edits have also been made to internal cross-references and addresses for filing applications and notices. Historical references that are no longer applicable, such as Department of Housing and Urban Development Act, 42 USC 3535(d), and references to effective dates that have passed, have been removed as appropriate.

9. Purchasers’ Revocation Rights, Sales Practices and Standards (Regulation K)
Authority: 12 USC 5512, 5581; 15 USC 1718.

B. Specific Changes
This interim final rule makes numerous amendments throughout HUD’s existing regulatory text to reflect ILSA’s transfer to the Bureau. “Secretary” is replaced with “Director,” “Department of Housing and Urban Development’’ with ‘‘Bureau of Consumer Financial Protection,’’ and ‘‘Department’’ with ‘‘Bureau.’’ Model language for disclosure and other purposes that appeared in the text of HUD’s ILSA regulations has been moved to a new appendix. The model clauses and the sections of HUD’s regulations that address these model clauses include:

I. Developers Affirmation for Land Sale § 1710.13(a)(9)
II. Language Notifying Buyer of Option to Cancel Contract § 1710.15(b)(5)(i)
III. Sample Lot Information Statement and Sample Receipt § 1710.15(b)(11)
IV. Request for Multiple Site Subdivision Exemption § 1710.15(c)(1)
V. Request for Regulatory Exemption Order § 1710.16(c)
VI. Developer’s Affirmation for Advisory Opinion § 1710.17(b)(3)
VII. Initial and Consolidated Registration Fee Schedule § 1710.35(b)
VIII. Property Report § 1710.100(b)
IX. Sample Page for Statement of Record § 1710.102(e)
X. Language for Warning on Cover Page of Property Report § 1710.105(c)
XI. Sample Entry in Table of Contents for Statement of Record § 1710.106(a)
XII. Required Paragraphs for Risks of Buying Land § 1710.107(a)
XIII. Format for General Information § 1710.108
XIV. Paragraphs To Be Included in the General Report — Title to the Property and Land Use § 1710.109(a)(1)
XV. Statement on Release Provisions § 1710.109(c)(2)(i)(A)
XVI. Warning for Release Provisions § 1710.109(c)(2)(i)(C)(1)
XVII. Method and Purpose of Recording Warning § 1710.109(d)(1)(iv)
XVIII. Escrow Statement Disclosure § 1710.109(e)(1)
XIX. Road Chart § 1710.110(b)(3)
XX. Nearby Communities Chart § 1710.110(b)(6)
XXI. Water Chart Form § 1710.111(a)(1)(ii)(B)
XXII. Comfort Station Chart § 1710.111(b)(1)(ii)
XXIII. Sewer Chart § 1710.111(b)(1)(iii)(B)
XXIV. Electric Service Chart § 1710.111(c)(2)
XXV. Recreational Facility Chart § 1710.114(b)
XXVI. Cost Sheet Format § 1710.117(a)
XXVII. Sample Receipt, Agent Certification and Cancellation Page § 1710.118(a)
XXVIII. Affirmation of Senior Executive Officer § 1710.219
XXIX. Form for Certification for Disclosure Documents § 1710.504(a)(2)
XXX. Language To Be Included on Property Report Cover Page § 1710.558(a)(1)
XXXI. Notice of Revocation Rights § 1710.559(a)(1)

10. Special Rules of Practice (Regulation L)
Authority: 12 USC 5512, 5581; 15 USC 1718.
Subpart A—[Reserved]
Subpart B—Filing Assistance

B. Specific Changes
This interim final rule makes numerous amendments throughout HUD’s existing regulatory text to reflect ILSA’s transfer to the Bureau. ‘‘Secretary’’ is replaced with ‘‘Director,’’ ‘‘Department of Housing and Urban Development’’ with ‘‘Bureau of Consumer Financial Protection,’’ and ‘‘Department’’ with ‘‘Bureau.’’ Model language for disclosure and other purposes that appeared in the text of HUD’s ILSA regulations has been moved to a new appendix. The model clauses and the sections of HUD’s regulations that address these model clauses include:

11. Consumer Leasing (Regulation M)
Authority: 12 USC 5512, 5581; 15 USC 1604, 1667f.

Summary of the Interim Final Rule
A. General
The interim final rule substantially duplicates the Board’s Regulation M as the Bureau’s new Regulation M, 12 CFR 1013, making only certain nonsubstantive, technical, formatting, and stylistic changes. To minimize any potential confusion, the Bureau is preserving the numbering of the Board’s Regulation M, other than the new part number. While this interim final rule generally incorporates the Board’s existing regulatory text, appendices (including model forms and clauses), and supplements, as amended,3 the rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. Notably, this interim final rule does not impose any new substantive obligations on regulated entities.

B. Specific Changes
The Bureau has made certain nomenclature and other non-substantive changes consistently throughout Regulation M. References to the Board and its administrative structure have been replaced with references to the Bureau. Conforming edits have been made to internal cross-references and to reflect the scope of the Bureau’s authority pursuant to the CLA, as amended by the Dodd-Frank Act. Appendix B, entitled ‘‘Federal Enforcement Agencies,’’ has been eliminated, because it was designed to be informational only and is unnecessary for purposes of implementing the CLA, as amended. Historical references that are no longer applicable, and references to effective dates that have passed, have been removed as appropriate.

12. Mortgage Acts and Practices — Advertising (Regulation N)
Authority: 12 USC 5512, 5581; 15 USC 1638 note.

Summary of the Interim Final Rule
A. General
The interim final rule substantially duplicates the FTC’s Mortgage Acts and Practices—Advertising Rule as the Bureau’s new Regulation N, 12 CFR 1014, and the FTC’s Mortgage Assistance Relief Services Rule as the Bureau’s new Regulation O, 12 CFR 1015, making only certain nonsubstantive, technical, formatting, and stylistic changes. To minimize any potential confusion, other than republishing 16 CFR 321 and 322 with the Bureau’s part number, the Bureau is preserving where possible the numbering the FTC used in the two rules. Additionally, while this interim final rule generally incorporates the FTC’s existing regulatory text, the rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. Notably, this interim final rule does not impose any new substantive obligations on regulated entities. In future rulemakings, the Bureau expects to amend Regulations N and O to implement certain other changes to the Omnibus Appropriations Act made by the Dodd-Frank Act, such as expanding the scope of Regulations N and O to include persons excluded from coverage under the FTC’s existing 16 CFR 321 and 322 due to the fact that they are not subject to the FTC’s enforcement jurisdiction.

B. Specific Changes
References to the FTC’s rulemaking authority have been replaced with references to the Bureau. Conforming edits have been made to internal crossreferences. Historical references that are no longer applicable, and references to effective dates that have passed, have been removed as appropriate. In addition, with respect to the Mortgage Assistance Relief Services Rule, the Bureau is correcting a citation error in the FTC’s existing § 322.9(c). As adopted by the FTC, § 322.9(c) contains a cross-reference to § 322.10(a). The correct citation should be to §§ 322.9(a) and (b). The Bureau is republishing § 322.9(c) as § 1015.9(c) with the citation corrected to read §§ 1015.9(a) and (b).

13. Mortgage Assistance Relief Services (Regulation O)
Authority: 12 USC 5512, 5581; 15 USC 1638 note.

Summary of the Interim Final Rule
A. General
The interim final rule substantially duplicates the FTC’s Mortgage Acts and Practices — Advertising Rule as the Bureau’s new Regulation N, 12 CFR 1014, and the FTC’s Mortgage Assistance Relief Services Rule as the Bureau’s new Regulation O, 12 CFR 1015, making only certain nonsubstantive, technical, formatting, and stylistic changes. To minimize any potential confusion, other than republishing 16 CFR 321 and 322 with the Bureau’s part number, the Bureau is preserving where possible the numbering the FTC used in the two rules. Additionally, while this interim final rule generally incorporates the FTC’s existing regulatory text, the rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. Notably, this interim final rule does not impose any new substantive obligations on regulated entities. In future rulemakings, the Bureau expects to amend Regulations N and O to implement certain other changes to the Omnibus Appropriations Act made by the Dodd-Frank Act, such as expanding the scope of Regulations N and O to include persons excluded from coverage under the FTC’s existing 16 CFR 321 and 322 due to the fact that they are not subject to the FTC’s enforcement jurisdiction.

14. Privacy of Consumer Financial Information (Regulation P)
Authority: 12 USC 5512, 5581; 15 USC 6804.

Summary of the Interim Final Rule
A. General
The interim final rule combines the transferor agencies’ existing rules, with the exception of the FTC’s existing rule as it relates to entities described in section 504(a)(1)(C) of the GLB Act 7 [7 15 USC 6804(a)(1)(C). With certain statutory exceptions, those entities are motor vehicle dealers predominantly engaged in the sale and servicing of motor vehicles, the leasing and servicing of motor vehicles, or both. See 12 USC 5519(a)–(b).] as the Bureau’s new Regulation P, 12 CFR 1016. The Bureau’s new Regulation P makes only certain non-substantive, technical, formatting, and stylistic changes. To minimize any potential confusion, the Bureau is substantially preserving the numbering of the Board’s Regulation P, other than the new part number. While this interim final rule generally incorporates the transferor agencies’ existing regulatory text and appendices (including model forms), the rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. Notably, this interim final rule does not impose any new substantive obligations on regulated entities.

B. Specific Changes
References to the transferor agencies and their administrative structure have been replaced with appropriate references to the Bureau. Conforming edits have been made to internal crossreferences and to reflect the scope of the Bureau’s authority pursuant to the GLB Act, as amended by the Dodd-Frank Act. Historical references that are no longer applicable, and references to effective dates that have passed, have been removed as appropriate. Appendix B, which listed sample clauses for privacy notices and provided a safe harbor for privacy notices issued with those sample clauses before January 1, 2011, has also been removed, as have any internal cross-references to it. Appendix B was scheduled to be eliminated from each of the transferor agencies’ privacy regulations on January 1, 2012. Financial institutions that delivered annual notices to consumers on or before December 31, 2010 were entitled to rely on the safe harbor for one additional year until their next annual notice was due. The removal of Appendix B by this interim final rule as of December 30, 2011 does not nullify the validity of privacy notices issued before January 1, 2011 using Appendix B’s sample clauses, including during the intervening two days of December 30 and 31, 2011.

Certain changes have been made to preserve substantive differences in the transferor agencies’ rules. To the extent the transferor agencies’ rules substantively differed from one another, the interim final rule contains separate provisions for the financial institutions previously subject to the respective transferor agencies’ rulemaking authority. For example, special rules related to joint relationships and loans were applicable to credit unions under the NCUA’s privacy regulation. To preserve those special rules applicable to credit unions, the interim final rule contains separate sections for ‘‘joint relationships in the case of credit unions’’ and ‘‘special rule for loans in the case of credit unions.’’ Similarly, the FTC’s privacy regulation defined ‘‘financial institution’’ more narrowly than the other transferor agencies’ privacy regulations. The interim final rule therefore contains a separate definition of ‘‘financial institution’’ for entities subject to the FTC’s enforcement jurisdiction. The interim final rule also incorporates specific examples from the NCUA and FTC’s privacy rules.

15. Fair Credit Reporting (Regulation V)
Authority: 12 USC 5512, 5581; 15 USC 1681a, 1681b, 1681c, 1681c–1, 1681e, 1681g, 1681i, 1681j, 1681m, 1681s, 1681s–2, 1681s–3, and 1681t; Section 214, Public Law 108–159, 117 Stat. 1952.

Background
The Fair Credit Reporting Act (FCRA), enacted in 1970, sets standards for the collection, communication, and use of information bearing on a consumer’s creditworthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living. Historically, rulemaking authority for the FCRA has been divided among the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), the Federal Trade Commission (FTC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS). The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended a number of consumer financial protection laws, including most provisions of the FCRA. In addition to substantive amendments, the Dodd-Frank Act transferred rulemaking authority for most provisions of the FCRA to the Bureau of Consumer Financial Protection (Bureau), effective July 21, 2011. Pursuant to the Dodd-Frank Act and the FCRA, as amended, the Bureau is publishing for public comment an interim final rule establishing a new Regulation V (Fair Credit Reporting), 12 CFR 1022, implementing the provisions of the FCRA for which the Bureau has rulemaking authority.

Summary of the Interim Final Rule
A. General
The interim final rule substantially duplicates the interagency regulations promulgated under the FCRA by the Board, the FDIC, the FTC, the NCUA, the OCC, and the OTS. In addition, the interim final rule substantially duplicates the following FTC regulations: 16 CFR 603, 610, 611, 613, 614, and 642, and associated model forms and disclosures. The interim final rule, published as the Bureau’s new Regulation V, 12 CFR 1022, reproduces the above regulations and associated model forms and interpretations with only certain nonsubstantive, technical, formatting, and stylistic changes.

To minimize any potential confusion, the Bureau is preserving the numbering of the Board’s Regulation V, other than the new part number. This interim final rule generally incorporates the existing regulatory text promulgated by the Board and other agencies with identical regulatory text, as well as appendices (including model forms and clauses), and supplements. Likewise, the interim final rule generally incorporates the above-cited portions of the FTC’s regulation (including model forms and clauses) and supplements. The rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. However, this interim final rule does not make substantive changes to the existing regulations.

B. Specific Changes
To minimize any potential confusion, the Bureau is preserving where possible the past numbering system by republishing regulations with Bureau part numbers that correspond to regulations in existence prior to the transfer of rulemaking authority or regulatory text that was used, in this case, by the Board. Thus, for example, § 222.25 of the Board’s existing Regulation V will correspond to § 1022.25 of the Bureau’s new Regulation V. The newly incorporated Federal Trade Commission regulations are integrated as follows:

FTC regulation Bureau regulation
16 CFR 603 .............................................................................................................................................. 12 CFR 1022.3
16 CFR 610 .............................................................................................................................................. 12 CFR 1022.130
16 CFR 611 .............................................................................................................................................. 12 CFR 1022.140
16 CFR 613 .............................................................................................................................................. 12 CFR 1022.121
16 CFR 614 .............................................................................................................................................. 12 CFR 1022.123
16 CFR 642 .............................................................................................................................................. 12 CFR 1022.54

Likewise, the Bureau is republishing model forms and disclosures with Bureau designations that correspond to previous designations of the Board and FTC. The newly incorporated FTC model forms and disclosures are integrated as follows:

FTC form Bureau form
Appendix A to 16 CFR 698 (Prescreen Opt Out Notices) ....................................................................... Appendix D to 12 CFR 1022.
Appendix D to 16 CFR 698 (Standardized Form for Requesting Annual File Disclosures) ................... Appendix L to 12 CFR 1022.
Appendix E to 16 CFR 698 (Summary of Consumer Identity Theft Rights) ........................................... Appendix I to 12 CFR 1022.
Appendix F to 16 CFR 698 (General Summary of Consumer Rights) .................................................... Appendix K to 12 CFR 1022.
Appendix G to 16 CFR 698 (Notice of Furnisher Responsibilities) ......................................................... Appendix M to 12 CFR 1022.
Appendix H to 16 CFR 698 (Notice of User Responsibilities) ................................................................. Appendix N to 12 CFR 1022.

The Dodd-Frank Act did not transfer certain rulemaking authority under the FCRA. Specifically, the Act did not transfer to the Bureau the authority to promulgate: rules on the disposal of consumer information; rules on identity theft red flags and corresponding interagency guidelines on identity theft detection, prevention, and mitigation; and rules on the duties of card issuers regarding changes of address. These existing provisions are not included in the Bureau’s new Regulation V. The Act also did not transfer rulemaking authority under the FCRA over any motor vehicle dealer that is predominantly engaged in the sale and servicing of motor vehicles, the leasing and servicing of motor vehicles, or both, subject to certain exceptions.

References to the Board, FTC, and their administrative structures have been replaced with references to the Bureau. Similarly, references to other agencies that no longer exist (e.g., the Office of Thrift Supervision) have been updated as appropriate. In addition, certain model forms and disclosures in Appendices H (risk-based pricing), I (summary of consumer identity theft rights), K (general summary of consumer rights), M (notice of furnisher responsibilities), N (notice of user responsibilities), and O (identity theft affidavit) have updated references from the Board or FTC Web sites and physical addresses to the Bureau Web site and physical address. The revised forms are the risk-based pricing model forms, H–1 through H–7; the summary of consumer identity theft rights, I; the general summary of consumer rights, K; the notice of furnisher responsibilities, M; the notices of user responsibilities, N; and identity theft affidavit, O.

Accordingly, persons making use of the corresponding model forms from any of the other agencies’ existing regulations will need to update their forms and disclosures.

To mitigate the impact of these changes on users of the existing model forms, the Bureau is adding new § 1022.1(c) regarding the use of model forms and disclosures generally. New § 1022.1(c)(1) provides that the use of the model forms and disclosures in the Bureau’s Appendices D, H, I, K, L, M, and N, or substantially similar forms and disclosures, constitutes compliance with the FCRA provisions requiring such forms and disclosures. New § 1022.1(c)(2) defines ‘‘substantially similar’’ for these purposes and also provides that, until January 1, 2013, the model forms in Appendices B, E, F, G, and H to 16 CFR 698 (the FTC’s appendices corresponding to the Bureau’s Appendices H, I, K, M, and N, respectively), and the model forms in Appendix H to 12 CFR 222 (the Board’s appendix corresponding to the Bureau’s Appendix H) are deemed substantially similar forms. The Bureau expects this provision to afford affected persons sufficient time to modify any forms and disclosures they have developed pursuant to the existing regulations of the Board and the FTC.

The interim rule’s Appendix K reflects updates to the Federal agencies that should be listed by particular categories of creditors in the general summary of consumer rights pursuant to § 1022.1(c)(1). Thus, the list has been revised to reflect the elimination of the Office of Thrift Supervision and the grant of enforcement authority, with respect to the banking agencies, under the FCRA to the Bureau for financial institutions with total assets of more than $10 billion and their affiliates.

With regard to nonbank creditors (other than affiliates of large financial institutions), the interim final rule has left the language of Appendix F to the FTC’s 16 CFR 698 unchanged for the time being. The Dodd-Frank Act assigns the Bureau enforcement authority with respect to such nonbank entities generally. The interim rule’s Appendix K has been adjusted to focus on the Federal agencies that should be identified in the general summary of consumer rights pursuant to § 1022.1(c)(1). As revised, Appendix K is therefore not intended to describe the allocation of enforcement authority for the FCRA following Dodd-Frank, but rather to specify efficient points of contact. The Bureau expects that agencies that receive FCRA complaints or inquiries will share that information with other agencies as appropriate. The Bureau intends to work closely with other relevant Federal agencies regarding the optimal intake and routing of FCRA-related complaints and inquiries for such nonbank entities. Thus, the Bureau has delayed making additional updates to Appendix K pending this interagency coordination.

Throughout the interim final rule, conforming edits have been made to internal cross-references and addresses for filing applications and notices. Conforming edits have also been made to reflect the scope of the Bureau’s authority pursuant to the FCRA, as amended by the Dodd-Frank Act. Historical references that are no longer applicable, and references to effective dates that have passed, have been removed as appropriate.

16. Real Estate Settlement Procedures Act (Regulation X)
Authority: 12 USC 2603–2605, 2607, 2609, 2617, 5512, 5581.

Summary of the Interim Final Rule
A. General
The interim final rule substantially duplicates HUD’s Regulation X as the Bureau’s new Regulation X, 12 CFR 1024, making only certain nonsubstantive, technical, formatting, and stylistic changes. To minimize any potential confusion, other than republishing HUD’s rule (24 CFR 3500) with the Bureau’s part number, the Bureau is preserving where possible the section numbering HUD used in 24 CFR 3500. For example, while this interim final rule generally incorporates HUD’s existing regulatory text and appendices (including standardized and model forms), the rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. Notably, this interim final rule does not impose any new substantive obligations on regulated entities. In future rulemakings, the Bureau expects to amend Regulation X to implement certain other changes to RESPA made by the Dodd-Frank Act, such as preparing and distributing booklets ‘‘jointly addressing compliance with the requirements of the Truth in Lending Act and [RESPA], in order to help persons borrowing money to finance the purchase of residential real estate better to understand the nature and costs of real estate settlement services,’’ integrating certain disclosure requirements of the Truth in Lending Act, 15 USC 1601 et seq., with certain disclosure requirements of RESPA, adopting regulations pertaining to practices of mortgage servicers, and issuing regulations to carry out the consumer purposes of RESPA.

B. Specific Changes
References to HUD and its administrative structure, including provisions for imposing penalties for escrow violations, have been replaced with references to the Bureau. Conforming edits have been made to internal cross-references and addresses for filing applications and notices.

Conforming edits have also been made to reflect the scope of the Bureau’s authority pursuant to RESPA, as amended by the Dodd-Frank Act. Historical references that are no longer applicable, and references to effective dates that have passed, have been removed as appropriate. In addition, the Bureau is correcting a citation error in HUD’s existing § 3500.17(l)(4). As adopted by HUD, § 3500.17(l)(4) contains a cross-reference to § 3500.21(f). The correct citation should be to § 3500.21(e). The Bureau is republishing § 3500.17(l)(4) as § 1024.17(l)(4) with the citation corrected to read § 1024.21(e). References to any ‘‘HUD Public Guidance Document’’ throughout HUD’s Regulation X have been replaced with references to a ‘‘Public Guidance Document’’ throughout the Bureau’s Regulation X. HUD’s existing Regulation X CFR text contains several provisions that HUD adopted in 1996 but never made effective. The Bureau is not republishing those provisions with the Bureau’s Regulation X. Furthermore, the Bureau is clarifying permissible changes that covered persons may make to the special information booklet without the Bureau’s written approval. As adopted by HUD, §§ 3500.6(d)(2) and (3) set forth the permissible changes that covered persons may make in the special information booklet without written approval from the Secretary of HUD. To reflect the transfer of authority from HUD to the Bureau, the Bureau is recodifying § 3500.6(d)(1) as §§ 1024.6(d)(1)(i) and (ii) to clarify permissible changes covered persons may make to the special information booklet without the Bureau’s written approval.

As discussed above, the Dodd-Frank Act directed the Bureau to integrate certain disclosures required by TILA with certain disclosures required by RESPA. The Bureau expects the content and format of HUD’s existing HUD–1/1A and GFE forms to be significantly revised or replaced by such rulemaking. The HUD–1/1A and GFE forms currently list HUD’s Office of Management and Budget (OMB) control number, 2502–0265, in order to satisfy certain information collection requirements of the Paperwork Reduction Act. The Bureau believes that requiring covered persons to modify existing forms solely to replace HUD’s OMB control number with the Bureau’s OMB control number would impose substantial burden on covered persons with limited or no net benefit to consumers. Accordingly, covered persons may continue to list HUD’s OMB control number on the HUD–1/1A and GFE forms until a final rule to the contrary takes effect. Covered persons also have the option of replacing HUD’s OMB control number with the Bureau’s OMB control number on the HUD–1/1A and GFE forms until a final rule to the contrary takes effect.

Accordingly, the Bureau is adding language in Appendix C to part 1024 — Instructions for Completing the Good Faith Estimate (GFE) Form to clarify that covered persons may replace HUD’s OMB control number with the Bureau’s OMB control number on the form at their option. HUD’s existing § 3500.9 lists the permissible changes allowed when the HUD–1/1A settlement changes are reproduced. The Bureau is recodifying § 3500.9 as § 1024.9 and adding language in § 1024.9(c) to clarify that covered persons may replace HUD’s OMB control number with the Bureau’s OMB Control number on the HUD–1/1A forms without written approval from the Bureau. Furthermore, the Bureau is revising language in § 1024.9(a)(5) to clarify that covered persons are not required to display the expiration date that is associated with the OMB control number displayed on the HUD–1/1A forms.

The Bureau has certain information gathering and investigative authority concerning Federal consumer financial laws, including RESPA, under Subtitles B and E of the Dodd-Frank Act. RESPA also confers additional information gathering and investigative authority on the Bureau. Accordingly, the Bureau is removing paragraphs (i) and (ii) in HUD’s existing § 3500.17(l)(3) because the repetition of the RESPA conferred information gathering and investigative authority therein is unnecessary.

The Bureau has the authority to enforce RESPA and Regulation X pursuant to Subtitle E of Title X of the Dodd-Frank Act. RESPA also confers additional enforcement authority on the Bureau. The Bureau is removing the civil money penalties provisions in HUD’s existing § 3500.17(m) and (n) because the repetition of this RESPA conferred authority is unnecessary.

Investigations undertaken by the Bureau will be conducted in accordance with 12 CFR 1080, and administrative adjudications will be conducted in accordance with 12 CFR 1081. Due to the removal of paragraphs (m) and (n) from § 3500.17, the ‘‘Discretionary payments’’ paragraph in HUD’s existing § 3500.17(o) is being recodified as § 1024.17(m) in this interim final rule. Finally, the Bureau is removing paragraphs (b) and (c) from HUD’s existing § 3500.19 because they are repetitive in light of other statutory and regulatory provisions. See §§ 3500.14–16 (being recodified as §§ 1024.14–16). Accordingly, corresponding crossreferences to §§ 3500.19(b) and (c) in HUD’s existing Regulation X are also being removed,9 and § 3500.19(d) is being recodified as § 1024.19(b).

17. Truth in Lending (Regulation Z)
Authority: 12 USC 5512, 5581; 15 USC 1601 et seq.

Summary of the Interim Final Rule
A. General
The interim final rule substantially duplicates the Board’s Regulation Z as the Bureau’s new Regulation Z, 12 CFR 1026, making only certain nonsubstantive, technical, formatting, and stylistic changes. To minimize any potential confusion, the Bureau is preserving the numbering system of the Board’s Regulation Z, other than the new part number. While this interim final rule generally incorporates the Board’s existing regulatory text, appendices (including model forms and clauses), and supplements, the rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. Notably, this interim final rule does not impose any new substantive obligations on regulated entities.

B. Specific Changes
References to the Board and its administrative structure have been replaced with references to the Bureau. In particular, certain model and sample forms in Appendix G (Open-End Model Forms and Clauses) have been revised to change references to the Board (and its Web site) to the Bureau (and its Web site). The revised forms are the Applications and Solicitations model and samples for credit cards, G–10(A) through G–10(C), and the Account-Opening model and samples for credit cards, G–17(A) through G–17(C). Similarly, references to other agencies that no longer exist (e.g., the Office of Thrift Supervision and the Federal Home Loan Bank Board) have been updated as appropriate.

Conforming edits have been made to internal cross-references and addresses for filing applications and notices. Certain comments reflecting the Board’s past state law preemption and exemption determinations have been amended to clarify that these determinations continue in effect pending Bureau action to the contrary. Appendix I, entitled ‘‘Federal Enforcement Agencies,’’ is being removed and reserved because it was designed to be informational only and is unnecessary for purposes of implementing the TILA, as amended. Conforming edits have also been made to reflect the scope of the Bureau’s authority pursuant to TILA, as amended by the Dodd-Frank Act. Historical references that are no longer applicable, and references to effective dates that have passed, have been removed as appropriate.

In addition, certain changes have been made to the text of the Board’s Regulation Z to conform to current codification standards of the Code of Federal Regulations. For example, previously undesignated paragraphs in the regulation and the official commentary have been enumerated, and footnotes have been eliminated and their substance moved to the body of the regulation as appropriate. Other provisions have been redesignated as necessary to accommodate these changes.

Most significantly, the Board’s §§ 226.5a and 226.5b have been renumbered as §§ 1026.60 and 1026.40, respectively. These two sections, as numbered in the Board’s existing Regulation Z, do not meet the current requirements for section numbering for publication in the Code of Federal Regulations. See 1 CFR 21.11(g).

Because existing § 226.5a relates to credit card disclosures, the Bureau is codifying it as § 1026.60 so that it will appear in subpart G, Special Rules Applicable to Credit Card Accounts and Open-End Credit Offered to College Students. Because existing § 226.5b relates to home-equity plans, the Bureau is codifying it as § 1026.40 so that it will appear in subpart E, Special Rules for Certain Home Mortgage Transactions. All existing cross-references to these two sections are changed accordingly throughout the Bureau’s new Regulation Z.

In addition, existing §§ 226.5a(b)(15) and 226.6(b)(2)(xiv) require card issuers to include in their applications and solicitations disclosures and their account opening disclosures, respectively, a reference to the Web site established by the Board and a statement that consumers may obtain on the Web site information about shopping for and using credit cards. This interim final rule revises those provisions to require a reference to the Bureau in §§ 1026.60(b)(15) and 1026.6(b)(2)(xiv). As noted above, the affected model forms in Appendix G are revised accordingly. The Bureau recognizes that this change to the disclosure requirements will require card issuers that maintain standardized disclosure forms in their systems to make modifications to those systems. To afford adequate time to make such modifications, the Bureau is also adding to §§ 1026.60(b)(15) and 1026.6(b)(2)(xiv) a provision that, until January 1, 2013, issuers may substitute for the required reference a reference to the Web site established by the Board of Governors of the Federal Reserve System. Similarly, the Bureau is adding to comment Appendix G–5 a new paragraph viii to clarify that, until January 1, 2013, issuers using model forms G–10(A) and G–17(A) may substitute references to the Board and its Web site for the references to the Bureau and its Web site contained in those models. This provision preserves the safe harbor for card issuers using the old version of these models until they have modified their systems as necessary, provided they do so by January 1, 2013.

Finally, the Bureau is correcting two typographical errors in the Board’s existing Regulation Z in conjunction with its republication as the Bureau’s Regulation Z. Following is a discussion of each correction, in order by section of the regulation.

Section 1026.36 Prohibited Acts or Practices in Connection With Credit Secured by a Dwelling
36(a) Loan Originator and Mortgage Broker Defined
The Board’s existing comment 36(a)–4 contains a typographical error that inadvertently misstates the test for whether a person is a loan originator subject to the rules governing compensation paid to loan originators. Under existing § 226.36(a)(1), a loan originator is defined as a person who, for compensation or other monetary gain, or in expectation of compensation or other monetary gain, arranges, negotiates, or otherwise obtains an extension of consumer credit for another person. Thus, the test essentially has two components, both of which must be present for a person to be a loan originator: (i) compensation or monetary gain; and (ii) the arranging, negotiating, or otherwise obtaining of consumer credit.

The comment discusses this test in the context of managers and administrative staff, who generally are not loan originators under the definition, but it frames the discussion in the negative. The comment provides that such persons are not loan originators if they do not arrange, negotiate, or otherwise obtain an extension of credit for a consumer, and their compensation is not based on whether any particular loan is originated. Thus, as written, the comment could be read to require that, to be excluded from coverage as loan originators, managers and administrative staff must both not arrange extensions of consumer credit and not receive compensation that depends on a particular loan being originated. Such a reading would be contrary to the definition in the regulation, which covers a person only if both components are present. For this reason, the Bureau’s comment 36(a)–4 reads ‘‘or’’ where the Board’s existing comment reads ‘‘and,’’ thus ensuring that the comment is consistent with the regulatory provision.

Section 1026.46 Special Disclosure Requirements for Private Education Loans
46(b) Definitions
46(b)(5) Private Education Loan
46(b)(5)(iii)

The Board’s existing § 226.46(b)(5)(iii) provides that the term “private education loan’’ does not include ‘‘open-end credit any loan that is secured by real property or a dwelling.’’ As adopted by the Board, this provision inadvertently omitted the word ‘‘or’’ between ‘‘open-end credit’’ and ‘‘any loan that is secured by real property or a dwelling.’’ Thus, as written, the provision is unclear but could be interpreted to exclude from ‘‘private education loan’’ only open-end credit that is secured by real property or a dwelling, whereas it was intended to exclude all open-end credit, regardless of whether secured, and all loans that are secured by real property or a dwelling, whether open- or closed-end.

In the SUPPLEMENTARY INFORMATION to the final rule that adopted § 226.46(b)(5)(iii), the Board stated that the term ‘‘private education loan” was being adopted substantially as proposed and noted that under the proposal “[a] private education loan excluded any credit otherwise made under an open-end credit plan. It also excluded any closed-end loan secured by real property or a dwelling.” 74 FR 41194, 41203 (Aug. 14, 2009). To correct this error, the Bureau’s § 1026.46(b)(5)(iii) inserts the word “or” in the appropriate place.

18. Truth in Savings (Regulation DD)
Authority: 12 USC 4302–4304, 4308, 5512, 5581.

Summary of the Interim Final Rule
A. General
The interim final rule substantially duplicates the Board’s Regulation DD as the Bureau’s new Regulation DD, 12 CFR 1030, making only certain nonsubstantive, technical, formatting, and stylistic changes. To minimize any potential confusion, the Bureau is preserving where possible past numbering systems by republishing regulations with Bureau part numbers that correspond to regulations in existence prior to the transfer of rulemaking authority. For example, while this interim final rule generally incorporates the Board’s existing regulatory text, appendices (including model forms and clauses), and supplements, as amended, the rule has been edited as necessary to reflect nomenclature and other technical amendments required by the Dodd-Frank Act. Notably, this interim final rule does not impose any new substantive obligations on regulated entities.

B. Specific Changes
In addition to the changes described above, the Bureau is making certain nomenclature and other non-substantive changes for clarity and consistency. For example, references to the Board and its administrative structure have been replaced with references to the Bureau. Conforming edits have been made to internal cross-references and addresses for filing applications and notices. In addition, edits to subheadings and numbering have been made for consistency and to fix typographical errors. Footnotes have been moved to the text of the regulation or commentary, as appropriate.

Laws & Regs

Renowned Experts