[Federal Register Volume 76, Number 147 (Monday, August 1, 2011)]
[Notices]
[Pages 45761-45763]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-19427]
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BUREAU OF CONSUMER FINANCIAL PROTECTION
Privacy Act of 1974, as Amended
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Notice of Proposed Privacy Act System of Records.
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SUMMARY: In accordance with the Privacy Act of 1974, as amended, the
Bureau of Consumer Financial Protection, hereinto referred to as the
Consumer Financial Protection Bureau (``CFPB'') or the ``Bureau'' gives
notice of the establishment of a Privacy Act System of Records.
DATES: Comments must be received no later than August 31, 2011. The new
system of records will be effective September 12, 2011 unless the
comments received result in a contrary determination.
ADDRESSES: You may submit comments, identified by Docket No. CFPB-2011-
0012, by any of the following methods:
Electronic: http://www.regulations.gov. Follow the
instructions for submitting comments.
Mail or Hand Delivery/Courier in Lieu of Mail: Claire
Stapleton, Chief Privacy Officer, Consumer Financial Protection Bureau,
1801 L Street, NW., Washington, DC 20036.
All submissions must include the agency name and docket number or
Regulatory Information Number (RIN) for this notice. In general all
comments received will be posted without change to http://www.regulations.gov. In addition, comments will be available for public
inspection and copying at 1801 L St., NW., Washington, DC 20036, on
official business days between the hours of 10 a.m. and 5 p.m. Eastern
Time. You can make an appointment to inspect comments by telephoning
(202) 435-7220. 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.
FOR FURTHER INFORMATION CONTACT: Claire Stapleton, Chief Privacy
Officer, Consumer Financial Protection Bureau, 1801 L Street, NW.,
Washington, DC 20036, (202) 435-7220.
SUPPLEMENTARY INFORMATION: The Dodd-Frank Wall Street Reform and
Consumer Protection Act (``Act''), Public Law 111-203, Title X,
established the CFPB to administer and enforce federal consumer
financial protection law. The CFPB will maintain the records covered by
this notice.
The new systems of records described in this notice, CFPB.003--Non-
depository Supervision Database will be used to enable the CFPB to
carry out its responsibilities with respect to individuals related to
non-depository covered persons subject to the authority of the CFPB,
including the internal coordination of examinations, supervision
evaluations and analyses, and enforcement actions. This system will
also allow the CFPB to coordinate with other financial regulatory
agencies. A description of the new system of records follows this
Notice.
The report of a new system of records has been submitted to the
Committee on Oversight and Government Reform of the House of
Representatives, the Committee on Homeland Security and Governmental
Affairs of the Senate, and the Office of Management and Budget,
pursuant to Appendix I to OMB Circular A-130, ``Federal Agency
Responsibilities for Maintaining Records About Individuals,'' dated
November 30, 2000, and the Privacy Act, 5 U.S.C. 552a(r).
The system of records entitled, ``CFPB.003--Non-depository
Supervision Database'' is published in its entirety below.
Dated: July 27, 2011.
Claire Stapleton,
Chief Privacy Officer.
CFPB.003
System Name:
CFPB Non-depository Supervision Database.
System Location:
Consumer Financial Protection Bureau, 1801 L Street, NW.,
Washington, DC 20036.
Categories of individuals covered by the system:
Individuals covered by this system are: (1) Individuals who
themselves are current and former directors, officers, employees,
agents, shareholders, and independent contractors of non-depository
covered persons subject to the supervision of the CFPB; (2) Current and
former consumers who are or have been in the past serviced by non-
depository covered persons subject to the supervision of the CFPB; and
(3) CFPB employees assigned to supervise non-depository covered
persons. Information collected regarding consumer products and services
is subject to the Privacy Act only to the extent that it concerns
individuals; information pertaining to corporations and other
organizations is not subject to the Privacy Act.
Categories of records in the system:
Records in the system may contain information provided by a covered
person, by individuals who are or have been serviced by a covered
person, or other governmental authorities, to the CFPB in the exercise
of the CFPB's responsibilities and used to assess a covered person's
compliance with various statutory and regulatory obligations. This may
include: (1) Personally identifiable information from customers of non-
depository covered persons, including without limitation,
[[Page 45762]]
name, social security number, account numbers, address, phone number,
email address, and date of birth; (2) contact information for officials
of non-depository covered persons such as members of the Board of
Directors, Audit Committee Chair, Chief Executive Officer, Chief
Compliance Officer, Internal Auditor, and Independent Auditor
including, without limitation, name, address, phone number and email
address; (3) information about CFPB employees assigned supervision
tasks for non-depository covered persons; and (4) confidential
supervision information or personal information, including information
relating to individuals that is derived from such information or from
consumer complaints. This information may include, without limitation,
reports of examinations and associated documentation regarding
compliance with consumer financial law; documents assessing the current
and past safety and soundness/risk management of a covered person or
service provider; reports of consumer complaints; and correspondence
relating to any category of information discussed above and actions
taken to remedy deficiencies in these areas.
Information contained in the Non-depository Supervision Database is
collected from a variety of sources, including, without limitation: (1)
The individuals who own, control, or work for covered persons or
service providers; (2) existing databases maintained by other federal
and state regulatory associations, law enforcement agencies, and
related entities; (3) third-parties with relevant information about
covered persons or service providers; and (4) information generated by
CFPB employees. Whenever practicable, the CFPB will collect information
about an individual directly from that individual.
Authority for maintenance of the system:
Public Law 111-203, Title X, Section 1011, 1012, 1021, 1024,
codified at 12 U.S.C. 5491, 5492, 5511, 5514.\1\
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\1\ Section 1066 of the Act grants the Secretary of the Treasury
interim authority to perform certain functions of the CFPB. Pursuant
to that authority, Treasury published rules on the Disclosure of
Records and Information within 12 CFR Chapter X. This SORN is
published pursuant to those rules and the Privacy Act.
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Purpose(s):
The information in the system is being collected to enable the CFPB
to carry out its responsibilities with respect to non-depository
covered persons and service providers, including the coordination and
conduct of examinations, supervisory evaluations and analyses,
enforcement actions, actions in federal court, and coordination with
other financial regulatory agencies. The information collected in this
system will also support the conduct of investigations or could be used
as evidence by the CFPB or other supervisory or law enforcement
agencies. This may result in criminal referrals, referral to the
Federal Reserve Office of the Inspector General, or the initiation of
administrative or federal court actions. This system will track and
store examination and inspection documents created during the
performance of the CFPB's statutory duties. This system also will
enable the CFPB to monitor and coordinate regular examinations and
required reports, supervisory evaluations and analyses, and enforcement
actions internally and with other federal and state regulators.
Routine uses of records maintained in the system, including categories
of users and the purposes of such uses:
These records may be disclosed, consistent with the CFPB Disclosure
of Records and Information Rules promulgated in the title of the CFR
to:
(1) Appropriate agencies, entities, and persons when: (a) the CFPB
suspects or has confirmed that the security or confidentiality of
information in the system of records has been compromised; (b) the CFPB
has determined that, as a result of the suspected or confirmed
compromise, there is a risk of harm to economic or property interests,
identity theft or fraud, or harm to the security or integrity of this
system or other systems or programs (whether maintained by the CFPB or
another agency or entity) that rely upon the compromised information;
and (c) the disclosure made to such agencies, entities, and persons is
reasonably necessary to assist in connection with the CFPB's efforts to
respond to the suspected or confirmed compromise and prevent, minimize,
or remedy such harm;
(2) 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;
(3) The 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;
(4) Congressional offices in response to an inquiry made at the
request of the individual to whom the record pertains;
(5) Contractors, agents, or other authorized individuals performing
work on a contract, service, cooperative agreement, job, or other
activity on behalf of the CFPB or Federal Government and who have a
need to access the information in the performance of their duties or
activities;
(6) Any authorized agency or component of the Department of
Treasury, the Department of Justice, the Federal Reserve System, the
Federal Deposit Insurance Corporation or other law enforcement
authorities including disclosure by such authorities:
(a) To the extent relevant and necessary in connection with
litigation in proceedings before a court or other adjudicative body,
where (i) the United States is a party to or has an interest in the
litigation, including where the agency, or an agency component, or an
agency official or employee in his or her official capacity, or an
individual agency official or employee whom the Department of Justice
or the Bureau has agreed to represent, is or may likely become a party,
and (ii) the litigation is likely to affect the agency or any component
thereof; or
(b) To outside experts or consultants when considered appropriate
by CFPB staff to assist in the conduct of agency matters;
(7) The U.S. Department of Justice (``DOJ'') for its use in
providing legal advice to the CFPB or in representing the CFPB 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
CFPB to be relevant and necessary to the advice or proceeding, and in
the case of a proceeding, such proceeding names as a party in interest:
(a) The CFPB;
(b) Any employee of the CFPB in his or her official capacity;
(c) Any employee of the CFPB in his or her individual capacity
where DOJ or the CFPB has agreed to represent the employee; or
(d) The United States, where the CFPB determines that litigation is
likely to affect the CFPB or any of its components;
(8) 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;
(9) A court, magistrate, or administrative tribunal in the course
of
[[Page 45763]]
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;
(10) Appropriate agencies, entities, and persons, including but not
limited to potential expert witnesses or witnesses in the course of
investigations, to the extent necessary to secure information relevant
to the investigation;
(11) 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; and
(12) An entity or person that is the subject of supervision or
enforcement activities including examinations, investigations,
administrative proceedings, and litigation, and the attorney or non-
attorney representative for that entity or person.
Policies and practices for storing, retrieving, accessing, retaining,
and dispensing of records in the system:
Storage:
Paper and electronic records.
Retrievability:
Records are retrievable by a variety of fields including, but not
limited to, the individual's name, complaint/inquiry case number,
address, account number, transaction number, phone number, date of
birth, or by some combination thereof.
Safeguards:
Access to electronic records is restricted to authorized personnel
who have been issued non-transferable access codes and passwords. Other
records are maintained in locked file cabinets or rooms with access
limited to those personnel whose official duties require access.
Retention and disposal:
The CFPB will maintain computer and paper records indefinitely
until the National Archives and Records Administration approves the
CFPB's records disposition schedule.
System manager(s) and address:
Consumer Financial Protection Bureau, Assistant Director of Nonbank
Supervision,1801 L Street, NW., Washington, DC 20036.
Notification procedure:
Individuals seeking notification and access to any record contained
in this system of records, or seeking to contest its content, may
inquire in writing in accordance with instructions appearing in Title
12, Chapter 10 of the CFR, ``Disclosure of Records and Information.''
Address such requests to: Chief Privacy Officer, Bureau of Consumer
Financial Protection, 1801 L St., NW., Washington, DC 20036.
Record access procedures:
See ``Notification Procedures'' above.
Contesting record procedures:
See ``Notification Procedures'' above.
Record source categories:
Information in this system is obtained from covered persons subject
to the CFPB's authority, and current, former, and prospective consumers
who are or have been customers or prospective customers of covered
persons, and others with information relevant to the enforcement of
federal consumer financial laws.
Exemptions claimed for the system:
Portions of the records in this system are complied for law
enforcement purposes and are exempt from disclosure under the CFPB's
Privacy Act regulations and 5 U.S.C. 552a(k)(2). Federal criminal law
enforcement investigatory reports maintained as part of this system may
be the subject of exemptions imposed by the originating agency pursuant
to 5 U.S.C. 552a(j)(2).
[FR Doc. 2011-19427 Filed 7-29-11; 8:45 am]
BILLING CODE 4810-25-P