On November 29th the Consumer Financial Protection Bureau (CFPB) published a notice and request for information about streamlining the inherited regulations. The “inherited regulations” include 14 existing consumer regulations that the CFPB inherited from other regulatory agencies on July 21, 2011, including, among others, Regulation Z (Truth in Lending) and Regulation X (RESPA). The inherited regulations are published in Chapter X of Title 12 of the Code of Federal Regulations. Following is the schedule of publication:
On December 16, 2011 the CFPB published:
- Regulation F – Fair Debt Collection Practices Act;
- Regulation I – Disclosure Requirements for Depository Institutions Lacking Federal Deposit Insurance;
- Regulation N – Mortgage Acts and Practices Advertising; and
- Regulation O – Mortgage Assistance Relief Services.
- These interim final rules are effective December 30, 2011. Comments must be received on or before February 14, 2012.
On December 19, 2011 the CFPB published:
- Regulation M – Consumer Leasing (Revised on December 29, 2011 to increase the asset threshold from $50,000 to $51,800.);
- Regulation C – Home Mortgage Disclosure Act; and
- Regulations G and H – SAFE Act.
- These interim final rules are effective on December 30, 2011. Comments must be received on or before February 17, 2012.
On December 20, 2011 the CFPB published:
- Regulation X – RESPA.
- This interim final rule is effective December 30, 2011. Comments must be received on or before February 21, 2012.
On December 21, 2011 the CFPB published:
- Regulation B – Equal Credit Opportunity;
- Regulation V – Fair Credit Reporting;
- Regulations J, K and L – Interstate Land Sales Registration Program;
- Regulation P – Privacy of Consumer Financial Information; and
- Regulation DD – Truth in Savings.
- These interim final rules are effective on December 30, 2011. Comments must be received on or before February 21, 2012.
On December 22, 2011 the CFPB published:
- Regulation Z – Truth in Lending.
- This interim final rule is effective on December 30, 2011. Comments must be received on or before February 21, 2012.
On December 27, 2011 the CFPB published:
- Regulation E – Electronic Funds Transfers.
- This interim final rule is effective on December 30, 2011. Comments must be received on or before February 27, 2012.
Links to each of the inherited regulations can be found at Jacks Compliance Resource.