Rule2023-18240
Agency Contact Information; Technical Corrections
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
August 25, 2023
Effective
September 25, 2023
Issuing agencies
Consumer Financial Protection Bureau
Abstract
On March 20, 2023, the Consumer Financial Protection Bureau (Bureau or CFPB) published the "Agency Contact Information" final rule in the Federal Register. The Bureau has identified four clerical errors in that final rule. These errors are found in the Federal agency contact information that must be provided with Equal Credit Opportunity Act adverse action notices in appendix A to Regulation B, the Fair Credit Reporting Act Summary of Consumer Rights in appendix K to Regulation V, and a Bureau website address where the public may access certain APR tables referenced in comment appendix J-2 to Regulation Z. This document corrects these errors.
Full Text
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<title>Federal Register, Volume 88 Issue 164 (Friday, August 25, 2023)</title>
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[Federal Register Volume 88, Number 164 (Friday, August 25, 2023)]
[Rules and Regulations]
[Pages 58065-58071]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-18240]
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Rules and Regulations
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
to and codified in the Code of Federal Regulations, which is published
under 50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by the Superintendent of Documents.
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Federal Register / Vol. 88, No. 164 / Friday, August 25, 2023 / Rules
and Regulations
[[Page 58065]]
CONSUMER FINANCIAL PROTECTION BUREAU
12 CFR Parts 1022, 1002, and 1026
Agency Contact Information; Technical Corrections
AGENCY: Consumer Financial Protection Bureau.
ACTION: Final rule; correction.
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SUMMARY: On March 20, 2023, the Consumer Financial Protection Bureau
(Bureau or CFPB) published the ``Agency Contact Information'' final
rule in the Federal Register. The Bureau has identified four clerical
errors in that final rule. These errors are found in the Federal agency
contact information that must be provided with Equal Credit Opportunity
Act adverse action notices in appendix A to Regulation B, the Fair
Credit Reporting Act Summary of Consumer Rights in appendix K to
Regulation V, and a Bureau website address where the public may access
certain APR tables referenced in comment appendix J-2 to Regulation Z.
This document corrects these errors.
DATES: This correction is effective on September 25, 2023.
FOR FURTHER INFORMATION CONTACT: Luke Diamond, Counsel or Ruth Van
Veldhuizen, Senior Counsel, Office of Regulations, at 202-435-7700. If
you require this document in an alternative electronic format, please
contact <a href="/cdn-cgi/l/email-protection#33707563716c7250505640405a515a5f5a474a73505543511d545c45"><span class="__cf_email__" data-cfemail="8fccc9dfcdd0ceececeafcfce6ede6e3e6fbf6cfece9ffeda1e8e0f9">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: On March 20, 2023, the Consumer Financial
Protection Bureau (Bureau or CFPB) published the ``Agency Contact
Information'' final rule in the Federal Register. This final rule made
non-substantive corrections and updates to Bureau and other Federal
agency contact information found at certain locations in Regulations B,
E, F, J, V, X, Z, and DD, including Federal agency contact information
that must be provided with Equal Credit Opportunity Act adverse action
notices and the Fair Credit Reporting Act Summary of Consumer Rights.
This final rule also revised the chapter heading, made various non-
substantive changes to Regulations B and V, and provided a Bureau
website address where the public may access certain APR tables
referenced in Regulation Z.
The Bureau has identified four clerical errors in the final rule.
First, in appendix A to Regulation B, ``National Credit Union
Administration, Office of Consumer Financial Protection (OCFP),
Division of Consumer Compliance Policy and Outreach, 1775 Duke Street,
Alexandria, VA 22314'' should read ``National Credit Union
Administration, Office of Consumer Financial Protection (OCFP), 1775
Duke Street, Alexandria, VA 22314.'' Second, on page two of the Fair
Credit Reporting Act Summary of Consumer Rights (found in appendix K to
Regulation V), the toll-free opt out phone number listed as 1-800-XXX-
XXXX should read 1-888-567-8688. Third, on page four of the Fair Credit
Reporting Act Summary of Consumer Rights, ``Assistant General Counsel
for Office of Aviation Protection'' should read ``Assistant General
Counsel for Office of Aviation Consumer Protection.'' Fourth, in
comment appendix J-2 to Regulation Z, <a href="https://www.consumerfinance.gov/resources/applicable-requirements/annual-percentage-rate-tables/">https://www.consumerfinance.gov/resources/applicable-requirements/annual-percentage-rate-tables/</a> should
read <a href="https://www.consumerfinance.gov/compliance/compliance-resources/other-applicable-requirements/annual-percentage-rate-tables/">https://www.consumerfinance.gov/compliance/compliance-resources/other-applicable-requirements/annual-percentage-rate-tables/</a>.
Regulatory Requirements: The Bureau finds that public comment on
this correction is unnecessary because the Bureau is correcting
inadvertent, technical errors, about which there is minimal, if any,
basis for substantive disagreement. Because no notice of proposed
rulemaking is required, the Regulatory Flexibility Act does not require
an initial or final regulatory flexibility analysis. The Bureau has
determined that these corrections do not impose any new or revise any
existing recordkeeping, reporting, or disclosure requirements on
covered entities or members of the public that would be collections of
information requiring OMB approval under the Paperwork Reduction Act.
List of Subjects
12 CFR Part 1002
Aged, Banks, Banking, Civil rights, Consumer protection, Credit,
Credit unions, Discrimination, Fair lending, Marital status
discrimination, National banks, National origin discrimination,
Penalties, Race discrimination, Religious discrimination, Reporting and
recordkeeping requirements, Savings associations, Sex discrimination.
12 CFR Part 1022
Banks, Banking, Consumer protection, Credit unions, Fair Credit
Reporting Act, Holding companies, National banks, Privacy, Reporting
and recordkeeping requirements, Savings associations, State member
banks.
12 CFR Part 1026
Advertising, Appraisal, Appraiser, Banking, banks, Consumer
protection, Credit, Credit unions, Mortgages, National banks, Reporting
and recordkeeping requirements, Savings associations, Truth in lending.
Authority and Issuance
For the reasons set forth above, the Bureau amends 12 CFR chapter
X, as set forth below:
PART 1002--EQUAL CREDIT OPPORTUNITY ACT (REGULATION B)
0
1. The authority citation for part 1002 continues to read as follows:
Authority: 12 U.S.C. 5512, 5581; 15 U.S.C. 1691b.
0
2. Revise appendix A to read as follows:
Appendix A to Part 1002--Federal Agencies To Be Listed in Adverse
Action Notices
The following list indicates the Federal agency or agencies that
should be listed in notices provided by creditors pursuant to Sec.
1002.9(b)(1). Any questions concerning a particular creditor may be
directed to such agencies. This list is not intended to describe
agencies' enforcement authority for ECOA and Regulation B. Terms
that are not defined in the Federal Deposit Insurance Act (12 U.S.C.
1813(s)) shall have the meaning given to them in the International
Banking Act of 1978 (12 U.S.C. 3101).
1. Banks, savings associations, and credit unions with total
assets of over $10 billion and their affiliates: Bureau of Consumer
Financial Protection, 1700 G Street NW, Washington, DC 20552. Such
affiliates that
[[Page 58066]]
are not banks, savings associations, or credit unions also should
list, in addition to the Bureau: Federal Trade Commission, Consumer
Response Center, 600 Pennsylvania Avenue NW, Washington, DC 20580.
2. To the extent not included in item 1 above:
a. National Banks, Federal savings associations, and Federal
branches and Federal agencies of foreign banks: Office of the
Comptroller of the Currency, Customer Assistance Group, P.O. Box
53570, Houston, TX 77052.
b. State member banks, branches and agencies of foreign banks
(other than Federal branches, Federal agencies, and insured State
branches of foreign banks), commercial lending companies owned or
controlled by foreign banks, and organizations operating under
section 25 or 25A of the Federal Reserve Act: Federal Reserve
Consumer Help Center, P.O. Box 1200, Minneapolis, MN 55480.
c. Nonmember Insured Banks, Insured State Branches of Foreign
Banks, and Insured State Savings Associations: Division of Depositor
and Consumer Protection, National Center for Consumer and Depositor
Assistance, Federal Deposit Insurance Corporation, 1100 Walnut
Street, Box #11, Kansas City, MO 64106.
d. Federal Credit Unions: National Credit Union Administration,
Office of Consumer Financial Protection (OCFP), 1775 Duke Street,
Alexandria, VA 22314.
3. Air Carriers: Assistant General Counsel for Office of
Aviation Consumer Protection, Department of Transportation, 1200 New
Jersey Avenue SE, Washington, DC 20590.
4. Creditors Subject to Surface Transportation Board: Office of
Public Assistance, Governmental Affairs, and Compliance, Surface
Transportation Board, 395 E Street SW, Washington, DC 20423.
5. Creditors Subject to Packers and Stockyards Act: Nearest
Packers and Stockyards Division Regional Office.
6. Small Business Investment Companies: Associate Administrator,
Office of Capital Access, United States Small Business Association,
409 Third Street SW, Suite 8200, Washington, DC 20416.
7. Brokers and Dealers: Securities and Exchange Commission, 100
F Street NE, Washington, DC 20549.
8. Federal Land Banks, Federal Land Bank Associations, Federal
Intermediate Credit Banks, and Production Credit Associations: Farm
Credit Administration, 1501 Farm Credit Drive, McLean, VA 22102-
5090.
9. Retailers, Finance Companies, and All Other Creditors Not
Listed Above: Federal Trade Commission, Consumer Response Center,
600 Pennsylvania Avenue NW, Washington, DC 20580.
PART 1022--FAIR CREDIT REPORTING (REGULATION V)
0
3. The authority citation for part 1022 continues to read as follows:
Authority: 12 U.S.C. 5512, 5581; 15 U.S.C. 1681a, 1681b, 1681c,
1681c-1, 1681c-3, 1681e, 1681g, 1681i, 1681j, 1681m, 1681s, 1681s-2,
1681s-3, and 1681t; Sec. 214, Pub. L. 108-159, 117 Stat. 1952.
0
4. Revise appendix K to read as follows:
Appendix K to Part 1022--Summary of Consumer Rights
The prescribed form for this summary is a disclosure that is
substantially similar to the Bureau's model summary with all
information clearly and prominently displayed. The list of Federal
regulators that is included in the Bureau's prescribed summary may
be provided separately so long as this is done in a clear and
conspicuous way. A summary should accurately reflect changes to
those items that may change over time (e.g., dollar amounts, or
telephone numbers and addresses of Federal agencies) to remain in
compliance. Translations of this summary will be in compliance with
the Bureau's prescribed model, provided that the translation is
accurate and that it is provided in a language used by the recipient
consumer.
BILLING CODE 4810-AM-P
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BILLING CODE 4810-AM-C
PART 1026--TRUTH IN LENDING (REGULATION Z)
0
5. The authority citation for part 1026 continues to read as follows:
Authority: 12 U.S.C. 2601, 2603-2605, 2607, 2609, 2617, 3353,
5511, 5512, 5532, 5581; 15 U.S.C. 1601 et seq.
0
6. Supplement I is amended by revising Appendix J to read as follows:
Supplement I to Part 1026--Official Interpretations
* * * * *
Appendix J--Annual Percentage Rate Computations for Closed-End Credit
Transactions
1. Use of appendix J. Appendix J sets forth the actuarial equations
and instructions for calculating the annual percentage rate in closed-
end credit transactions. While the formulas contained in this appendix
may be directly applied to calculate the annual percentage rate for an
individual transaction, they may also be utilized to program
calculators and computers to perform the calculations.
2. Relation to Bureau tables. The Bureau's Annual Percentage Rate
Tables also provide creditors with a calculation tool that applies the
technical information in appendix J. An annual
[[Page 58071]]
percentage rate computed in accordance with the instructions in the
tables is deemed to comply with the regulation. Volume I of the tables
may be used for credit transactions involving equal payment amounts and
periods, as well as for transactions involving any of the following
irregularities: odd first period, odd first payment and odd last
payment. Volume II of the tables may be used for transactions that
involve any type of irregularities. These tables may be obtained from
the Bureau, 1700 G Street NW, Washington, DC 20552, upon request. The
tables are also available on the Bureau's website at: <a href="https://www.consumerfinance.gov/compliance/compliance-resources/other-applicable-requirements/annual-percentage-rate-tables/">https://www.consumerfinance.gov/compliance/compliance-resources/other-applicable-requirements/annual-percentage-rate-tables/</a>.
* * * * *
Paul Hannah,
Senior Counsel and Federal Register Liaison, Consumer Financial
Protection Bureau.
[FR Doc. 2023-18240 Filed 8-24-23; 8:45 am]
BILLING CODE 4810-AM-P
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