Rule2025-11241
Procedure Relating to Rulemaking; Rescission
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
June 18, 2025
Effective
June 18, 2025
Issuing agencies
Consumer Financial Protection Bureau
Abstract
The Consumer Financial Protection Bureau (Bureau or CFPB) is adopting a procedural rule (Final Rule) that rescinds its rule specifying how the Bureau issues rules and when rules are considered issued.
Full Text
<html>
<head>
<title>Federal Register, Volume 90 Issue 116 (Wednesday, June 18, 2025)</title>
</head>
<body><pre>
[Federal Register Volume 90, Number 116 (Wednesday, June 18, 2025)]
[Rules and Regulations]
[Pages 25883-25884]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-11241]
-----------------------------------------------------------------------
CONSUMER FINANCIAL PROTECTION BUREAU
12 CFR Part 1074
Procedure Relating to Rulemaking; Rescission
AGENCY: Consumer Financial Protection Bureau.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Consumer Financial Protection Bureau (Bureau or CFPB) is
adopting a procedural rule (Final Rule) that rescinds its rule
specifying how the Bureau issues rules and when rules are considered
issued.
DATES: The Final Rule is effective on June 18, 2025.
FOR FURTHER INFORMATION CONTACT: Dave Gettler, Paralegal Specialist,
Office of Regulations, at 202-435-7700 or at: <a href="https://reginquiries.consumerfinance.gov">https://reginquiries.consumerfinance.gov</a>. If you require this document in an
alternative electronic format, please contact
<a href="/cdn-cgi/l/email-protection#783b3e283a27391b1b1d0b0b111a1114110c01381b1e081a561f170e"><span class="__cf_email__" data-cfemail="dc9f9a8c9e839dbfbfb9afafb5beb5b0b5a8a59cbfbaacbef2bbb3aa">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
I. Background and Summary
Pursuant to its authority under sections 1012(a)(1) and 1022(b) of
the Consumer Financial Protection Act of 2010, 12 U.S.C. 5492(a)(1) and
5512(b), the Bureau is rescinding the rule and regulations adopted on
December 28, 2012, via 77 FR 76353, ``Procedure Relating to
Rulemaking,'' and codified in 12 CFR part 1074.1 (the ``2012 Rule'').
That rule established that a Bureau rule is deemed issued upon the
earlier of (1) when the final rule is posted on the Bureau's website or
(2) when the final rule is published in the Federal Register.
The Bureau is exercising its discretion to rescind the 2012 Rule
because the Bureau has reconsidered the necessity of deeming a rule to
have been issued as of the date the final rule is posted on the
Bureau's website, which typically occurs at the time the final rule is
transmitted to the Office of the Federal Register but before that
office makes the document available for public inspection and publishes
it in the Federal Register. The concern that gave rise to the need to
define issuance in this way, namely, the impendency of certain
deadlines for rulemaking following the transfer of authorities to the
Bureau that were imposed by the Dodd-Frank Wall Street Reform and
Consumer Protection Act (Dodd-Frank Act),\1\ is no longer relevant. The
Bureau recognizes the vital role that the Federal Register plays in
providing transparency, public notice, and public participation in
rulemaking, and therefore is deciding to revert to the traditional
mechanism for determining when a rule has been validly promulgated
absent specific congressional or regulatory imposition of an
alternative date.\2\
---------------------------------------------------------------------------
\1\ Public Law 111-203; see 77 FR 76353, 76354 (Dec. 28, 2012)
(discussing example of Dodd-Frank Act requirement that certain
provisions of title XIV go into effect 18 months after the
designated transfer date unless relevant regulations were ``issued''
by that date).
\2\ See Nat'l Grain & Feed Ass'n, Inc. v. Occupational Safety &
Health Admin., 845 F.2d 345, 346 (D.C. Cir. 1988); see also Humane
Soc'y of the U.S. v. U.S. Dep't of Agric., 41 F.4th 564, 570 (D.C.
Cir. 2022) (noting the significance of the Office of the Federal
Register's making a document available for public inspection in
providing constructive notice to regulated parties).
---------------------------------------------------------------------------
Accordingly, the Bureau is rescinding the 2012 Rule providing that
a Bureau rule be considered issued upon posting of the final rule to
the Bureau's website when the Office of the Federal Register has not
yet made the document available for public inspection or published it
in the Federal Register.
II. Legal Authority and Effective Date
Section 1022(b) of the Dodd-Frank Act authorizes the Bureau to
prescribe rules as may be necessary and appropriate to enable the
Bureau to administer and carry out the purposes and objectives of the
Federal consumer financial laws, and to prevent evasions of those
laws.\3\ In addition, section 1012(a) of the Dodd-Frank Act authorizes
the Bureau ``to establish the general policies of the Bureau with
respect to all executive and administrative functions, including--(1)
the establishment of rules for conducting the general business of the
Bureau, in a manner not inconsistent with this title . . . .'' \4\
---------------------------------------------------------------------------
\3\ 12 U.S.C. 5512(b)(1).
\4\ 12 U.S.C. 5492(a)(1).
---------------------------------------------------------------------------
The Final Rule is procedural and not substantive and, thus, is not
subject to the 30-day delay in effective date required by 5 U.S.C.
553(d). The Bureau is making the Final Rule effective immediately upon
publication in the Federal Register.
III. Consumer Financial Protection Act Section 1022(b)(2) Analysis
In developing this Final Rule, the Bureau has considered its
potential benefits, costs, and impacts.
Certainty about the timing of issuance of the Bureau's rules will
likely benefit consumers and covered persons. Rescinding the 2012 Rule
implies that the public would need to only consult the Federal Register
to determine the
[[Page 25884]]
issuance date of a rule, and not the Bureau's website and the Federal
Register, as under the 2012 Rule. The Bureau is not aware of costs to
consumers or covered persons, including the potential reduction of
access by consumers to consumer financial products or services, that
can be predicted to result from treating rules as issued when the rules
are published in the Federal Register.
Further, the Bureau is not aware of any unique impact this Final
Rule might have on insured depository institutions or insured credit
unions with total assets of $10 billion or less as described in section
1026(a) of the Dodd-Frank Act, or on rural consumers.
IV. Regulatory Flexibility Act Analysis
The Regulatory Flexibility Act (RFA) generally requires an agency
to conduct an initial regulatory flexibility analysis (IRFA) and a
final regulatory flexibility analysis (FRFA) of any rule subject to
notice-and-comment rulemaking requirements, unless the agency certifies
that the rule will not have a significant economic impact on a
substantial number of small entities.\5\ The Bureau also is subject to
certain additional procedures under the RFA involving the convening of
a panel to consult with small business representatives before proposing
a rule for which an IRFA is required.\6\
---------------------------------------------------------------------------
\5\ 5 U.S.C. 601 et seq.
\6\ 5 U.S.C. 609.
---------------------------------------------------------------------------
The Final Rule relates solely to agency procedure and practice and,
thus, is not subject to the notice and comment requirements of the
Administrative Procedure Act, 5 U.S.C. 553(b). Because no notice of
proposed rulemaking is required, this rule does not require an IRFA or
a FRFA pursuant to the RFA, 5 U.S.C. 601 et seq.
V. Executive Order 12866
The Office of Information and Regulatory Affairs has determined
that this action is not a ``significant regulatory action'' under
Executive Order 12866, as amended by Executive Order 14215.
E.O. 12866 states that ``Federal agencies should promulgate only
such regulations as are required by law, are necessary to interpret the
law, or are made necessary by compelling public need, such as material
failures of private markets. . . .'' The Bureau is not aware of the
existence of a market failure or other compelling public need that
would justify the retention of the ``Procedure Relating to
Rulemaking,'' adopted via 77 FR 76353 on December 28, 2012.
List of Subjects in 12 CFR Part 1074
Administrative practice and procedure.
Authority and Issuance
For the reasons set forth in the preamble, the Bureau amends 12 CFR
part 1074 as follows:
PART 1074--RULEMAKING AND GUIDANCE
0
1. The authority citation for part 1074 continues to read as follows:
Authority: 12 U.S.C. 5492(a)(1), 5512(b).
Subpart A--[Removed and Reserved]
0
2. Remove and reserve subpart A, consisting of Sec. 1074.1.
Russell Vought,
Acting Director, Consumer Financial Protection Bureau.
[FR Doc. 2025-11241 Filed 6-17-25; 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 June 18, 2025.
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.