Notice2024-16245
Privacy Act of 1974; System of Records
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
July 24, 2024
Effective
August 23, 2024
Issuing agencies
Consumer Financial Protection Bureau
Abstract
In accordance with the Privacy Act of 1974, the Consumer Financial Protection Bureau (CFPB or Bureau) proposes to establish a new CFPB system of records titled, "CFPB.030--Nonbank Registry" (Nonbank Registry). Generally, "nonbanks" are institutions involved in the offering or provision of consumer financial products or services that are not insured depository institutions or insured credit unions (hereinafter referred to as "nonbanks"). The Nonbank Registry system of records covers information collected and maintained as part of the CFPB nonbank registration program. The Nonbank Registry enables certain nonbanks to register with the CFPB through the Bureau's Nonbank Registry portal and to provide additional required information and/or other required documents. The records maintained in the Nonbank Registry enables the CFPB to gather information from registered nonbanks; to monitor and identify consumer risks; to gather information and documents to conduct examinations of registered nonbanks subject to the CFPB's supervisory authority; and to ensure that registered nonbanks subject to the CFPB's supervisory authority are legitimate entities and able to perform their obligations to consumers, including their obligations under Federal consumer financial law. This newly established system of records will be included in the CFPB's inventory of records systems.
Full Text
<html>
<head>
<title>Federal Register, Volume 89 Issue 142 (Wednesday, July 24, 2024)</title>
</head>
<body><pre>
[Federal Register Volume 89, Number 142 (Wednesday, July 24, 2024)]
[Notices]
[Pages 59900-59903]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-16245]
=======================================================================
-----------------------------------------------------------------------
CONSUMER FINANCIAL PROTECTION BUREAU
[Docket No: CFPB-2024-0029]
Privacy Act of 1974; System of Records
AGENCY: Consumer Financial Protection Bureau.
ACTION: Notice of a new system of records.
-----------------------------------------------------------------------
SUMMARY: In accordance with the Privacy Act of 1974, the Consumer
Financial Protection Bureau (CFPB or Bureau) proposes to establish a
new CFPB system of records titled, ``CFPB.030--Nonbank Registry''
(Nonbank Registry). Generally, ``nonbanks'' are institutions involved
in the offering or provision of consumer financial products or services
that are not insured depository institutions or insured credit unions
(hereinafter referred to as ``nonbanks''). The Nonbank Registry system
of records covers information collected and maintained as part of the
CFPB nonbank registration program. The Nonbank Registry enables certain
nonbanks to register with the CFPB through the Bureau's Nonbank
Registry portal and to provide additional required information and/or
other required documents. The records maintained in the Nonbank
Registry enables the CFPB to gather information from registered
nonbanks; to monitor and identify consumer risks; to gather information
and documents to conduct examinations of registered nonbanks subject to
the CFPB's supervisory authority; and to ensure that registered
nonbanks subject to the CFPB's supervisory authority are legitimate
entities and able to perform their obligations to consumers,
[[Page 59901]]
including their obligations under Federal consumer financial law. This
newly established system of records will be included in the CFPB's
inventory of records systems.
DATES: Comments must be received no later than August 23, 2024. The new
system of records will be effective August 23, 2024 unless the comments
received result in a contrary determination.
ADDRESSES: You may submit comments, identified by the title and docket
number (see above Docket No. CFPB-2024-0029), by any of the following
methods:
<bullet> Federal eRulemaking Portal: <a href="http://www.regulations.gov">http://www.regulations.gov</a>.
Follow the instructions for submitting comments. A brief summary of
this document will be available at <a href="https://www.regulations.gov/docket/CFPB-2024-0029">https://www.regulations.gov/docket/CFPB-2024-0029</a>.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#7a0a08130c1b19033a191c0a18541d150c"><span class="__cf_email__" data-cfemail="a5d5d7ccd3c4c6dce5c6c3d5c78bc2cad3">[email protected]</span></a>. Include Docket No. CFPB-2024-0029
in the subject line of the email.
<bullet> Mail/Hand Delivery/Courier: Kathryn Fong, Chief Privacy
Officer, Consumer Financial Protection Bureau, 1700 G Street NW,
Washington, DC 20552, (202) 435-7058. Because paper mail in the
Washington, DC area and at CFPB is subject to delay, commenters are
encouraged to submit comments electronically.
All submissions must include the agency name and docket number for
this notice. In general, all comments received will be posted without
change to <a href="http://www.regulations.gov">http://www.regulations.gov</a>. All comments, including
attachments and other supporting materials, will become part of the
public record and subject to public disclosure. You should submit only
information that you wish to make available publicly. Sensitive
personal information, such as account numbers or Social Security
numbers, should not be included.
FOR FURTHER INFORMATION CONTACT: Kathryn Fong, Chief Privacy Officer,
Consumer Financial Protection Bureau, 1700 G Street NW, Washington, DC
20552; (202) 435-7058. If you require this document in an alternative
electronic format, please contact <a href="/cdn-cgi/l/email-protection#0645405644594765656375756f646f6a6f727f466560766428616970"><span class="__cf_email__" data-cfemail="0744415745584664646274746e656e6b6e737e476461776529606871">[email protected]</span></a>. Please
do not submit comments to this email box.
SUPPLEMENTARY INFORMATION: In accordance with the Privacy Act of 1974,
5 U.S.C. 552a, the CFPB is establishing a new system of records titled,
``CFPB.030, Nonbank Registry.'' On June 3, 2024, the CFPB published the
Registry of Nonbank Covered Persons Subject to Certain Agency and Court
Orders Final Rule (Orders Rule) pursuant to sections 1022 and 1024 of
the Consumer Financial Protection Act (CFPA) of 2010. The Orders Rule
imposes specific requirements on ``covered nonbanks,'' as that term is
defined in section 1092.201(d) of the Orders Rule. Covered nonbanks are
generally required to register ``covered orders,'' as that term is
defined in section 1092.201(e) of the Orders Rule, that remain in or
take effect on or after the Orders Rule's effective date.
The CFPB's exercise of its nonbank registration rulemaking
authority expands the category of individuals and records collected and
maintained on nonbanks to include those required to register with the
CFPB to enable the Bureau to monitor and reduce the risks to consumers
posed by these institutions more effectively. The registry also allows
the Bureau to monitor trends in enforcement and more effectively
utilize Bureau resources. To this end, the CFPB has created the Nonbank
Registry portal to facilitate the registration process and information
collection maintained in the Nonbank Registry system of records for
nonbanks that are required to register with the CFPB in accordance with
current or subsequent CFPB regulations. Finally, the CFPB may publish
certain information collected and maintained in the Nonbank Registry
system of records as is in the public interest and in accordance with
CFPB regulations.
SYSTEM NAME AND NUMBER:
CFPB.030--Nonbank Registry.
SECURITY CLASSIFICATION:
Unclassified.
SYSTEM LOCATION:
Consumer Financial Protection Bureau, 1700 G Street NW, Washington,
DC 20552.
SYSTEM MANAGER(S):
Program Director, Systems and Registrations Team, Office of
Supervision, Consumer Financial Protection Bureau, 1700 G Street NW,
Washington, DC 20552.
AUTHORITY FOR MAINTENANCE OF THE SYSTEM:
Public Law 111-203, title X, sections 1022 and 1024, codified at 12
U.S.C. 5512 and 5514.
PURPOSE(S) OF THE SYSTEM:
The purposes of the Nonbank Registry are: (1) To effectively
monitor and understand financial markets related to nonbanks or nonbank
institutions; (2) To monitor for risks to consumers in the offering or
provision of consumer financial products or services; (3) To facilitate
the CFPB's risk-based nonbank supervision program; (4) To ensure that
registered nonbanks subject to the CFPB's supervisory authority are
legitimate entities and are able to perform their obligations to
consumers, including their obligations under Federal consumer financial
law; and (5) To maintain a central public registry of information on
nonbanks to facilitate public awareness and oversight.
CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM:
The CFPB collects and maintains information on the following
individuals:
<bullet> Authorized representatives acting on behalf of nonbanks
who are authorized to submit information to the Nonbank Registry
portal;
<bullet> Attesting executives;
<bullet> Individuals (e.g., consenting party, defendant) listed or
included in a covered order and related public records, such as court
or agency documents, or other documents provided to the registry;
<bullet> Individuals, including authorized representatives who
submit a question via the Nonbank Registry portal about related
regulations or that require technical assistance with the Nonbank
Registry; and
<bullet> CFPB staff assigned to maintain the Nonbank Registry,
including system developers, system administrators, and similar system
stakeholders who support the Nonbank Registry and program operations.
CATEGORIES OF RECORDS IN THE SYSTEM:
Categories of records maintained in this Nonbank Registry include:
<bullet> Full names and business contact information (e.g.,
business title, email address, and phone number) for authorized
representatives and attesting executives provided during the
registration process;
<bullet> Information related to individuals associated with
nonbanks found in submitted documents, such as covered orders and
related public records, such as court or agency documents, or other
documents provided to the Nonbank Registry;
<bullet> Annual written statements signed by an attesting executive
(or executives) and notification/confirmation of non-registration;
<bullet> Names and contact information (e.g., phone number, email
address) of individuals, along with question submitted about related
regulations or that require technical assistance with the Nonbank
Registry; and
<bullet> Access records to CFPB computers and networks (e.g.,
external facing portals) containing usernames and passwords and first
and last names of CFPB staff and external users authorized
[[Page 59902]]
to access the Nonbank Registry, and other audit-related information,
such as date and time stamps of submissions via the Nonbank Registry
portal, and information regarding reconciliation or correction of
errors.
RECORD SOURCE CATEGORIES:
The information in the Nonbank Registry system of records is
collected directly from covered nonbanks and the authorized
representatives and executives acting on behalf of the covered
nonbanks; CFPB staff; and from individuals that submit questions via
the Nonbank Registry portal about related regulations or that require
technical assistance.
ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES
OF USERS AND THE PURPOSES OF SUCH USES:
In addition to those disclosures generally permitted under 5 U.S.C.
552a(b) of the Privacy Act, and consistent with the CFPB's Disclosure
of Records and Information Rules, promulgated at 12 CFR part 1070, all
or a portion of the records or information contained in this system may
be disclosed outside the CFPB as a routine use to:
(1) Appropriate agencies, entities, and persons when (a) the Bureau
suspects or has confirmed that there has been a breach of the system of
records; (b) the Bureau has determined that as a result of the
suspected or confirmed breach there is a risk of harm to individuals,
the Bureau (including its information systems, programs, and
operations), the Federal Government, or national security; and (c) the
disclosure made to such agencies, entities, and persons is reasonably
necessary to assist in connection with the Bureau's efforts to respond
to the suspected or confirmed breach or to prevent, minimize, or remedy
such harm.
(2) Another Federal agency or entity, when the Bureau determines
that information from this system of records is reasonably necessary to
assist the recipient agency or entity in (a) responding to a suspected
or confirmed breach or (b) preventing, minimizing, or remedying the
risk of harm to individuals, the recipient agency or entity (including
its information systems, programs, and operations), the Federal
government, or national security, resulting from a suspected or
confirmed breach.
(3) Another Federal or State agency to (a) permit a decision as to
access, amendment, or correction of records to be made in consultation
with or by that agency, or (b) verify the identity of an individual or
the accuracy of information submitted by an individual who has
requested access to or amendment or correction of records.
(4) The Executive Office of the President in response to an inquiry
from that office made at the request of the subject of a record or a
third party on that person's behalf.
(5) Congressional offices in response to an inquiry made at the
request of the individual to whom the record pertains.
(6) Contractors, agents, or other authorized individuals performing
work on a contract, service, cooperative agreement, job, or other
activity on behalf of the Bureau or the U.S. Government and who have a
need to access the information in the performance of their mission,
including duties or activities.
(7) The Department of Justice (DOJ) for its use in providing legal
advice to the Bureau or in representing the Bureau in a proceeding
before a court, adjudicative body, or other administrative body, where
the use of such information by the DOJ is deemed by the Bureau to be
relevant and necessary to the advice or proceeding, and such proceeding
names as a party in interest:
(a) The CFPB;
(b) Any employee of the Bureau in their official capacity;
(c) Any employee of the Bureau in their individual capacity where
DOJ has agreed to represent the employee; or
(d) The United States, where the CFPB determines that litigation is
likely to affect the Bureau or any of its components.
(8) Appropriate Federal, State, local, foreign, Tribal, or self-
regulatory organizations or agencies responsible for investigating,
prosecuting, enforcing, implementing, issuing, or carrying out a
statute, rule, regulation, order, policy, or license if the information
may be relevant to a potential violation of civil or criminal law,
rule, regulation, order, policy, or license.
(9) To the National Archives and Records Administration (NARA) or
other Federal Government agencies pursuant to records management
inspections being conducted under the authority of 44 U.S.C. 2904 and
2906.
(10) A grand jury pursuant either to a Federal or State grand jury
subpoena, or to a prosecution request that such record be released for
the purpose of its introduction to a grand jury, where the subpoena or
request has been specifically approved by a court. In those cases where
the Federal Government is not a party to the proceeding, records may be
disclosed if a subpoena has been signed by a judge.
(11) A court, magistrate, or administrative tribunal in the course
of an administrative proceeding or judicial proceeding, including
disclosures to opposing counsel or witnesses (including expert
witnesses) in the course of discovery or other pre-hearing exchanges of
information, litigation, or settlement negotiations, where relevant or
potentially relevant to a proceeding, or in connection with criminal
law proceedings.
(12) To members of the public as is in the public interest in
accordance with 12 CFR part 1092. Such disclosure would be limited to
the names and titles of attesting executives and individuals listed or
included in a covered order and related public records, such as court
or agency documents, or other documents provided to the registry.
POLICIES AND PRACTICES FOR STORAGE OF RECORDS:
The records are maintained in electronic media.
POLICIES AND PRACTICES FOR RETRIEVAL OF RECORDS:
Records maintained in this system of records are retrievable using
a personal identifier, including an individual's name.
POLICIES AND PRACTICES FOR RETENTION AND DISPOSAL OF RECORDS:
The records contained within the Nonbank Registry system of records
are considered unscheduled and will be maintained as permanent until
there is an approved records schedule for the Nonbank Registry.
ADMINISTRATIVE, TECHNICAL, AND PHYSICAL SAFEGUARDS:
External access to the Nonbank Registry via the portal for nonbank
user accounts is limited to the nonbank that created the account with
the CFPB. Nonbanks will login with a username and password using multi-
factor authentication. Internal access to electronic records is
restricted to authorized CFPB staff based on role-based access controls
using multi-factor authentication.
RECORD ACCESS PROCEDURES:
Individuals seeking access to any record contained in this system
of records may inquire in writing in accordance with instructions in 12
CFR 1070.50 et seq. Address such requests to: Chief Privacy Officer,
Consumer Financial Protection Bureau, 1700 G Street NW, Washington, DC
20552. Instructions are also provided on the Bureau website: <a href="https://www.consumerfinance.gov/foia-requests/submit-request/">https://www.consumerfinance.gov/foia-requests/submit-request/</a>.
[[Page 59903]]
CONTESTING RECORD PROCEDURES:
Individuals seeking to contest the content of any record contained
in this system of records may inquire in writing in accordance with
instructions in 12 CFR 1070.50 et seq. Address such requests to: Chief
Privacy Officer, Consumer Financial Protection Bureau, 1700 G Street
NW, Washington, DC 20552. Instructions are also provided on the Bureau
website: <a href="https://www.consumerfinance.gov/privacy/amending-and-correcting-records-under-privacy-act/">https://www.consumerfinance.gov/privacy/amending-and-correcting-records-under-privacy-act/</a>.
NOTIFICATION PROCEDURES:
See ``Record Access Procedures'' above.
EXEMPTIONS PROMULGATED FOR THE SYSTEM:
None.
HISTORY:
This is a new system of records.
Kathryn Fong,
Chief Privacy Officer, Consumer Financial Protection Bureau.
[FR Doc. 2024-16245 Filed 7-23-24; 8:45 am]
BILLING CODE 4810-AM-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on July 24, 2024.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.