[Federal Register Volume 77, Number 72 (Friday, April 13, 2012)]
[Rules and Regulations]
[Pages 22200-22204]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-8748]
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FEDERAL TRADE COMMISSION
16 CFR Parts 320, 321, 322, 603, 610, 611, 613, 614, and 901
RIN 3084-AB31
Rescission of Rules
AGENCY: Federal Trade Commission (``FTC'' or ``Commission'').
ACTION: Final rule; rescission of regulations.
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SUMMARY: Title X of the Dodd-Frank Wall Street Reform and Consumer
Protection Act transferred rulemaking authority for a number of
consumer financial protection laws to the Consumer Financial Protection
Bureau (``CFPB''). As a result, the Commission is rescinding the
following rules under the Fair Credit Reporting Act: ``[Identity Theft]
Definitions''; ``Free Annual File Disclosures Rule''; ``Prohibition
Against Circumventing Treatment as a Nationwide Consumer Reporting
Agency''; ``Duration of Active Duty Alerts''; and ``Appropriate Proof
of Identity.'' In addition, the Commission is rescinding two rules
addressing mortgage advertising and mortgage assistance relief services
under the 2009 Omnibus Appropriations Act: ``Mortgage Acts and
Practices-Advertising Rule'' and ``Mortgage Assistance Relief Services
Rule.'' The Commission is also rescinding its rules governing
``Disclosure Requirements for Depository Institutions Lacking Federal
Deposit Insurance'' under the Federal Deposit Insurance Corporation
Improvement Act and its ``Procedures for State Application for
Exemption from the Provisions of the [Federal Debt Collection
Practices] Act.'' These rules have been republished by the CFPB.
DATES: Effective Date: April 13, 2012.
ADDRESSES: Copies of this document are available from: Public Reference
Branch, Room 130, Federal Trade Commission, 600 Pennsylvania Avenue
NW., Washington, DC 20580. Copies of this document are also available
on the Internet at the Commission's Web site: http://www.ftc.gov.
FOR FURTHER INFORMATION CONTACT:
FCRA Rules: Katherine Armstrong, Senior Attorney, Division of
Privacy and Identity Protection, Bureau of Consumer Protection, (202)
326-3250, Federal Trade Commission, 600 Pennsylvania Avenue NW.,
Washington, DC 20580.
Mortgage Rules: For the Mortgage Acts and Practices--Advertising
Rule, contact Laura Johnson, Senior Attorney, Financial Practices
Division, Bureau of Consumer Protection, (202) 326-3224, Federal Trade
Commission, 600 Pennsylvania Avenue NW., Washington, DC 20580. For the
Mortgage Assistance Relief Services Rule, contact Evan Zullow, Senior
Attorney, Financial Practices Division, Bureau of Consumer Protection,
(202) 326-3224, Federal Trade Commission, 600 Pennsylvania Avenue NW.,
Washington, DC 20580.
Deposit Insurance: Hampton Newsome, Senior Attorney, Enforcement
Division, Bureau of Consumer Protection, (202) 326-2889, Federal Trade
Commission, 600 Pennsylvania Avenue NW., Washington, DC 20580.
Debt Collection: Thomas Kane, Senior Attorney, Financial Practices
Division, Bureau of Consumer Protection, (202) 326-3224, Federal Trade
Commission, 600 Pennsylvania Avenue NW., Washington, DC 20580.
SUPPLEMENTARY INFORMATION:
I. Background
On July 21, 2010, President Obama signed into law the Dodd-Frank
Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act'').\1\
The Dodd-Frank Act substantially changed the federal legal framework
for financial services providers. Among the changes, the Dodd-Frank Act
transferred to the CFPB the Commission's rulemaking authority under the
Fair Debt Collection Practices Act (``FDCPA''),\2\ section 43 of the
Federal Deposit Insurance Act (``FDIA''),\3\ section 626 of the 2009
Omnibus Appropriations Act,\4\ and portions of the Fair Credit
Reporting Act
[[Page 22201]]
(``FCRA'') (collectively, ``the Acts''),\5\ on July 21, 2011.\6\
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\1\ Public Law 111-203, 124 Stat. 1376 (2010).
\2\ 15 U.S.C. 1692-1692p.
\3\ 12 U.S.C. 1831t(c)-(f).
\4\ Public Law 111-8, section 626, 123 Stat. 524 (Mar. 11,
2009).
\5\ 15 U.S.C. 1681 et seq. The Dodd-Frank Act does not transfer
to the CFPB rulemaking authority for FCRA sections 615(e) (``Red
Flag Guidelines and Regulations Required'') and 628 (``Disposal of
Records''). See 15 U.S.C. 1681s(e); Public Law 111-203, section
1088(a)(10)(E). Accordingly, the Commission retains rulemaking
authority for its ``Identity Theft Rules,'' 16 CFR part 681, and its
rules governing ``Disposal of Consumer Report Information and
Records,'' 16 CFR Part 682. See 15 U.S.C. 1681m, 1681w. In addition,
the Commission retains rulemaking authority under FCRA over any
motor vehicle dealer described in Section 1029(a) of the Dodd-Frank
Act that is predominantly engaged in the sale and servicing of motor
vehicles, the leasing and servicing of motor vehicles, or both. See
Dodd-Frank Act, Sec. 1029(a), (c).
\6\ Dodd-Frank Act, Sec. 1061. This date is the ``designated
transfer date'' established by the Treasury Department under the
Dodd-Frank Act. See Dep't of the Treasury, Bureau of Consumer
Financial Protection; Designated Transfer Date, 75 FR 57252, 57253
(Sept. 20, 2010); see also Dodd-Frank Act, Sec. 1062.
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As a result, the Commission is rescinding the following nine rules
issued under the Acts, which have been republished by the CFPB:
Disclosure Requirements for Depository Institutions
Lacking Federal Deposit Insurance, 16 CFR Part 320 (republished by the
CFPB at 12 CFR part 1009);
Mortgage Acts and Practices--Advertising Rule, 16 CFR part
321 (republished by the CFPB at 12 CFR part 1014);
Mortgage Assistance Relief Services Rule, 16 CFR part 322
(republished by the CFPB at 12 CFR part 1015);
[Identity Theft] Definitions, 16 CFR Part 603 (republished
by the CFPB at 12 CFR 1022.3);
Free Annual File Disclosures Rule, 16 CFR Part 610
(republished by the CFPB at 12 CFR 1022.130);
Prohibition Against Circumventing Treatment as a
Nationwide Consumer Reporting Agency, 16 CFR Part 611 (republished by
the CFPB at 12 CFR 1022.140);
Duration of Active Duty Alerts, 16 CFR part 613
(republished by the CFPB at 12 CFR 1022.121);
Appropriate Proof of Identity, 16 CFR part 614
(republished by the CFPB at 12 CFR 1022.123); and
Procedures for State Application for Exemption from the
Provisions of the [Fair Debt Collection Practices] Act, 16 CFR part 901
(republished by the CFPB at 12 CFR part 1006).
The CFPB republished these rules on an interim final basis and the CFPB
rules became effective on December 30, 2011.\7\ Accordingly, the FTC is
rescinding its version of these rules effective immediately.
\7\ See 76 FR 78121 (Dec. 16, 2011); 76 FR 78126 (Dec. 16,
2011); 76 FR 78130 (Dec. 16, 2011); 76 FR 79308 (Dec. 21, 2011).
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The FTC will retain rulemaking authority for other rules
promulgated under the Acts to the extent the rules apply to motor
vehicle dealers described in section 1029(a) of the Dodd-Frank Act that
are predominantly engaged in the sale and servicing of motor vehicles,
the leasing and servicing of motor vehicles, or both.\8\ These seven
rules are:
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\8\ See Dodd-Frank Act, Sec. 1029(a), (c).
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Privacy of Consumer Financial Information Privacy Rule, 16
CFR part 313;
Duties of Creditors Regarding Risk-Based Pricing, 16 CFR
part 640;
Duties of Users of Consumer Reports Regarding Address
Discrepancies, 16 CFR part 641;
Prescreen Opt-Out Notice, 16 CFR part 642;
Duties of Furnishers of Information to Consumer Reporting
Agencies, 16 CFR part 660;
Affiliate Marketing, 16 CFR part 680; and
Model Forms and Disclosures, 16 CFR part 698.
The Commission is authorized to maintain these rules pursuant to
section 1029(c) of the Dodd-Frank Act and section 504(a) of the Gramm-
Leach-Bliley Act.\9\ These rules remain in effect to the extent that
they apply to motor vehicle dealers and will remain in Title 16 of the
Code of Federal Regulations.
\9\ 15 U.S.C. 6804(a).
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Under the Dodd-Frank Act, the FTC also retains its authority to
bring law enforcement actions to enforce the Acts and FTC and CFPB
rules issued under the Acts.
A. Rules Under the Fair Credit Reporting Act
The FCRA governs the collection, assembly, and use of consumer
report information and provides the framework for the credit reporting
system in the United States.\10\ Since enactment of the FCRA in 1970,
the FTC has played a key role in its implementation, oversight,
enforcement, and interpretation.
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\10\ 15 U.S.C. 1681 et seq.
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On July 21, 2011, the Dodd-Frank Act transferred to the CFPB most
of the Commission's rulemaking authority under the FCRA.\11\ As a
result, the Commission is rescinding the rules discussed below, which
the CFPB republished on an interim final basis on December 21, 2011.
The republished rules became effective on December 30, 2011.\12\
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\11\ See supra note 5.
\12\ See 76 FR 79308 (Dec. 21, 2011); see also 12 CFR part 1022.
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1. 16 CFR Part 603: [Identity Theft] Definitions
The Fair and Accurate Credit Transactions Act of 2003 (``FACT
Act'') amended the FCRA and included requirements for consumer
reporting agencies, creditors, and others to help remedy identity
theft. The FTC issued final rules to define the terms ``identity
theft'' and ``identity theft report.'' \13\
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\13\ 69 FR 63922 (Nov. 3, 2004).
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2. 16 CFR Part 610: Free Annual File Disclosures Rule
The FACT Act required consumer reporting agencies to provide
consumers with one free copy of their file disclosure annually. (These
free annual file disclosures are commonly known as ``free credit
reports.'') As required by the FACT Act, the FTC issued a rule
requiring the establishment of a centralized source through which
consumers may request these free annual file disclosures from each
nationwide consumer reporting agency; a standardized form for such
requests; and a streamlined process for consumers to request free
annual file disclosures from nationwide specialty consumer reporting
agencies.\14\ Pursuant to the Credit Card Accountability Responsibility
and Disclosure Act of 2009 (``Credit CARD Act''),\15\ the FTC amended
the rule to require that certain advertisements for ``free credit
reports'' include prominent disclosures, and to prohibit other
practices that may interfere with the free annual file disclosure
process.\16\
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\14\ 69 FR 35468 (June 24, 2004).
\15\ Public Law 111-24, 123 Stat. 1734.
\16\ 75 FR 9726 (Mar. 3, 2010).
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3. 16 CFR Part 611: Prohibition Against Circumventing Treatment as a
Nationwide Consumer Reporting Agency
The FCRA imposes certain specific requirements on ``nationwide
consumer reporting agencies.'' As required by the FACT Act, the FTC
promulgated an interim final rule prohibiting consumer reporting
agencies from avoiding treatment as nationwide consumer reporting
agencies through any means, including corporate structuring or
technological methods.\17\
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\17\ 69 FR 29061 (May 20, 2004).
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4. 16 CFR Part 613: Duration of Active Duty Alerts
Active Duty Alerts help service members who are deployed and may
find it difficult to monitor their financial accounts. These service
members can place alerts on their credit reports, which require that
users of such
[[Page 22202]]
reports have reasonable policies and procedures to verify the identity
of the person requesting credit. As required by the FACT Act, the FTC
issued a final rule establishing that the duration of active duty
alerts shall be twelve months.\18\
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\18\ 69 FR 63922 (Nov. 3, 2004).
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5. 16 CFR Part 614: Appropriate Proof of Identity
As required by the FACT Act, the FTC established requirements for
what constitutes appropriate proof of identity for purposes of who can
place fraud or active duty alerts or request truncation of social
security numbers on credit reports.\19\ The rule helps to ensure that
identity thieves cannot easily access another person's credit report.
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\19\ Id.
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B. Mortgage Rules
Section 626 of the 2009 Omnibus Appropriations Act,\20\ as
clarified by the Credit CARD Act,\21\ directed the Commission to
initiate rulemakings with respect to unfair or deceptive acts or
practices involving mortgage loans. To implement the Act, the
Commission issued two rules on mortgage loan practices: the Mortgage
Acts and Practices-Advertising (``MAP-Ad'') Rule and the Mortgage
Assistance Relief Services (``MARS'') Rule.
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\20\ Omnibus Appropriations Act, 2009, Public Law 111-8, 123
Stat. 524.
\21\ Credit Card Act Sec. 511(a)(1)(B).
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Because the Dodd-Frank Act transferred to the CFPB the Commission's
rulemaking authority under Section 626, the Commission is rescinding
its MAP-Ad and MARS rules. The CFPB republished these rules on an
interim final basis on December 16, 2011. The republished rules became
effective on December 30, 2011.\22\
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\22\ 76 FR 78130 (Dec. 16, 2011); see also 12 CFR parts 1014 and
1015.
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1. 16 CFR Part 321: Mortgage Acts and Practices--Advertising
The MAP-Ad Rule prohibits deceptive marketing of mortgage
loans.\23\
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\23\ 76 FR 43826 (July 22, 2011); see also 16 CFR part 321.
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2. 16 CFR Part 322: Mortgage Assistance Relief Services Rule
The MARS Rule addresses the practices of entities (other than
mortgage servicers) who offer assistance to consumers in dealing with
owners or servicers of their loans to modify them or avoid
foreclosure.\24\ The rule bans providers of mortgage foreclosure rescue
and loan modification services from collecting fees until homeowners
have a written offer from their lender or servicer that they decide is
acceptable. The rule also requires mortgage relief companies to
disclose key information to consumers to protect them from being misled
and to help them make better informed purchasing decisions. In
addition, the rule prohibits mortgage relief companies from making
false or misleading claims about their services.
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\24\ 75 FR 75092 (Dec. 1, 2010); see also 16 CFR part 322.
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C. Deposit Insurance
The Federal Deposit Insurance Corporation Improvement Act
(``FDICIA'') added a new section 43 (12 U.S.C. 1831t) to the FDIA,
which directed the Commission to prescribe disclosures for depository
institutions that lack federal deposit insurance.\25\ Under Section 43,
the Commission issued a rule requiring covered institutions to include
a disclosure about the lack of federal deposit insurance on periodic
statements and account records.\26\ In addition, the rule requires most
advertising for these institutions to include disclosures about the
lack of federal insurance. The covered institutions also must obtain
signed acknowledgments from new depositors about the fact that the
institution is not federally insured.
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\25\ See Public Law 102-242, 105 Stat. 2236.
\26\ 16 CFR part 320; see also 75 FR 31682 (June 4, 2010). These
disclosure requirements do not apply to depository institutions that
do not receive initial deposits of less than the standard maximum
insurance amount for federal deposit insurance. That amount is
currently $250,000.
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The Dodd-Frank Act transferred the Commission's rulemaking
authority under the FDIA to the CFPB. As a result, the Commission is
rescinding its Disclosure Requirements for Depository Institutions
Lacking Federal Deposit Insurance, which the CFPB republished on an
interim final basis on December 16, 2011. The republished rules became
effective on December 30, 2011.\27\
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\27\ See 76 FR 78126 (Dec. 16, 2011); see also 12 CFR part 1009.
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D. Debt Collection
The FDCPA provided the Commission with rulemaking authority to
promulgate procedures for granting states exemptions from the
FDCPA.\28\ Pursuant to Section 817 of the FDCPA, the Commission
promulgated Procedures for State Application for Exemption from the
Provisions of the [Fair Debt Collection Practices] Act
(``Procedures'').\29\
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\28\ FDCPA, Sec. 817, 15 U.S.C. 1692o.
\29\ 16 CFR part 901; see also 44 FR 21005 (Apr. 9, 1979).
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Under the Procedures, any state may apply to the Commission for a
determination that debt collection practices within the state are
subject to requirements under the laws of the state that are
substantially similar to, or provide greater protection for consumers
than, those imposed under sections 803 through 812 of the FDCPA, and
that there is adequate provision for state enforcement of those
requirements.\30\ If the Commission determines that a state has met
these criteria, the Commission must exempt the class of debt collection
practices in that state from the requirements of sections 803 through
812.\31\
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\30\ 16 CFR 901.2.
\31\ 16 CFR 901.6.
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Because the Dodd-Frank Act transferred to the CFPB the Commission's
authority under the FDCPA to grant exemptions by regulation, the
Commission is rescinding its Procedures for State Application for
Exemption from the Provisions of the [Fair Debt Collection Practices]
Act. The CFPB republished rules governing these procedures on an
interim final basis on December 16, 2011. The republished rules became
effective on December 30, 2011.\32\
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\32\ 76 FR 78121 (Dec. 16, 2011); see also 12 CFR Part 1006.
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II. Procedural Requirements
Under the Administrative Procedure Act,\33\ an agency may
promulgate or rescind a rule without prior notice and an opportunity
for public comment if the agency finds for good cause that notice and
comment are unnecessary.\34\ Public comment on the rescission of these
rules is unnecessary because the FTC's rulemaking authority has
transferred to the CFPB pursuant to the statutory mandate of the Dodd-
Frank Act. Thus, the FTC has no discretion to maintain these rules, and
there is no reason for public comment on this regulatory action. The
CFPB's regulations went into effect on December 30, 2011. Therefore,
rescission of the FTC rules will help avoid confusion as to which rules
are now in effect. Accordingly, the Commission finds that public notice
and comment is unnecessary.
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\33\ 5 U.S.C. 553(b)(B).
\34\ Nat'l Customs Brokers & Forwarders Ass'n v. United States,
59 F.3d 1219, 1223-1224 (Fed. Cir. 1995).
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In addition, the Commission has determined that the rescissions may
take effect immediately upon publication of this notice in the Federal
Register, as permitted by the Administrative Procedure Act.\35\ The
removal of the regulations is exempt from the usual 30-day notice
requirement as it merely ``relieves a
[[Page 22203]]
restriction'' from FTC requirements.\36\ The 30-day notice requirement
does not apply under these circumstances, in which the Dodd-Frank Act
transferred authority to issue these rules to the CFPB as of the
designated transfer date. Therefore, affected persons do not need time
to prepare for or take any action with regard to the rescission.\37\
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\35\ 5 U.S.C. 553(d)(1).
\36\ 5 U.S.C. 553(d)(1); see also Indep. U.S. Tanker Owners
Comm. v. Skinner, 884 F.2d 587, 591 (DC Cir. 1989).
\37\ See Daniel Int'l Corp. v. Occupational Safety & Health
Review Com., 656 F.2d 925, 931 (4th Cir. 1981) (``The purpose of the
30-day notice requirement in Sec. 553(d) is to `afford persons
affected a reasonable time to prepare for the effective date of a
rule or rules or to take any other action which the issuance of
rules may prompt.' Administrative Procedure Act Legislative History,
79th Cong., 2d Sess. 201 (1946)'').
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III. Paperwork Reduction Act
The Free Annual File Disclosures Rule and the mortgage rules
contain information requirements that have been approved by the Office
of Management and Budget (``OMB'') under the Paperwork Reduction Act of
1995 (``PRA'').\38\ Because the FTC and CFPB share enforcement
authority for these rules, the CFPB has assumed half of the FTC's
previously cleared burden estimates for these rules and OMB has
approved the CFPB's request for emergency clearance. In turn, the FTC
has submitted associated adjustment requests to OMB to reduce by half
the FTC's previously cleared estimates under the PRA assigned to these
rules.
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\38\ 44 U.S.C. 3501 et seq.
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IV. Regulatory Flexibility Act
Because the Commission has determined that it may remove these
regulations without public comment, the Commission is also not required
to publish any initial or final regulatory flexibility analysis under
the Regulatory Flexibility Act as part of such action.\39\
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\39\ See 5 U.S.C. 603(a), 604(b).
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List of Subjects
16 CFR Part 320
Credit unions, Depository institutions, and Federal deposit
insurance.
16 CFR Part 321
Advertising, Communications, Consumer protection, Credit,
Mortgages, Trade practices.
16 CFR Part 322
Consumer protection, Trade practices, Telemarketing.
16 CFR Part 603
Fair Credit Reporting Act, Consumer reports, Consumer reporting
agencies, Credit, Information furnishers, Identity theft, Trade
practices.
16 CFR Part 610
Fair Credit Reporting Act, Consumer reports, Consumer reporting
agencies, Credit, Trade practices.
16 CFR Part 611
Consumer reports, Consumer reporting agencies, Credit, Information
furnishers, Identity theft, Trade practices.
16 CFR Part 613
Fair Credit Reporting Act, Consumer reports, Consumer reporting
agencies, Credit, Information furnishers, Identity theft, Trade
practices.
16 CFR Part 614
Fair Credit Reporting Act, Consumer reports, Consumer reporting
agencies, Credit, Information furnishers, Identity theft, Trade
practices.
16 CFR Part 901
Administrative practice and procedure, Consumer protection, Credit,
Intergovernmental relations.
Accordingly, for the reasons set forth above, the Commission amends
Chapter I of Title 16, Code of Federal Regulations, as follows:
0
1. Revise part 320 to read as follows:
PART 320--DISCLOSURE REQUIREMENTS FOR DEPOSITORY INSTITUTIONS
LACKING FEDERAL DEPOSIT INSURANCE
Authority: 12 U.S.C. 1831t; 15 U.S.C. 41 et seq.
Sec. 320.1 Cross-reference.
The rules formerly at 16 CFR part 320 have been republished by the
Consumer Financial Protection Bureau at 12 CFR part 1009, ``Disclosure
Requirements for Depository Institutions Lacking Federal Deposit
Insurance (Regulation I).''
0
2. Revise part 321 to read as follows:
PART 321--MORTGAGE ACTS AND PRACTICES--ADVERTISING
Authority: Pub. L. 111-8, section 626, 123 Stat. 524, as
amended by Pub. L. 111-24, section 511, 123 Stat. 1734.
Sec. 321.1 Cross-reference.
The rules formerly at 16 CFR part 321 have been republished by the
Consumer Financial Protection Bureau at 12 CFR part 1014, ``Mortgage
Acts and Practices Advertising (Regulation N).''
0
3. Revise part 322 to read as follows:
PART 322--MORTGAGE ASSISTANCE RELIEF SERVICES
Authority: Pub. L. 111-8, section 626, 123 Stat. 524, as
amended by Pub. L. 111-24, section 511, 123 Stat. 1734.
Sec. 322.1 Cross-reference.
The rules formerly at 16 CFR part 322 have been republished by the
Consumer Financial Protection Bureau at 12 CFR part 1015, ``Mortgage
Assistance Relief Services (Regulation O).''
0
4. Revise part 603 to read as follows:
PART 603--DEFINITIONS
Authority: Pub. L. 108-159, sec. 111; 15 U.S.C. 1681a.
Sec. 603.1 Cross-reference.
The rules formerly at 16 CFR part 603 have been republished by the
Consumer Financial Protection Bureau at 12 CFR 1022.3, ``Fair Credit
Reporting (Regulation V).''
0
5. Revise part 610 to read as follows:
PART 610--FREE ANNUAL FILE DISCLOSURES
Authority: 15 U.S.C. 1681a, g, and h; sec. 211(a) and (d), Pub.
L. 108-159, 117 Stat. 1968 and 1972 (15 U.S.C. 1681j); Pub. L. 111-
24.
Sec. 610.1 Cross-reference.
The rules formerly at 16 CFR part 610 have been republished by the
Consumer Financial Protection Bureau at 12 CFR 1022.130, ``Fair Credit
Reporting (Regulation V).''
0
6. Revise part 611 to read as follows:
PART 611--PROHIBITION AGAINST CIRCUMVENTING TREATMENT AS A
NATIONWIDE CONSUMER REPORTING AGENCY
Authority: Pub. L. 108-159, sec. 211(b); 15 U.S.C. 1681x.
Sec. 611.1 Cross-reference.
The rules formerly at 16 CFR part 611 have been republished by the
Consumer Financial Protection Bureau at 12 CFR 1022.140, ``Fair Credit
Reporting (Regulation V).''
0
7. Revise part 613 to read as follows:
PART 613--DURATION OF ACTIVE DUTY ALERTS
Authority: Pub. L. 108-159, sec. 112(a); 15 U.S.C. 1681c-1.
Sec. 613.1 Cross-reference.
The rules formerly at 16 CFR part 613 have been republished by the
Consumer Financial Protection Bureau at 12 CFR
[[Page 22204]]
1022.121, ``Fair Credit Reporting (Regulation V).''
0
8. Revise part 614 to read as follows:
PART 614--APPROPRIATE PROOF OF IDENTITY
Authority: Pub. L. 108-159, sec. 112(b).
Sec. 614.1 Cross-reference.
The rules formerly at 16 CFR part 614 have been republished by the
Consumer Financial Protection Bureau at 12 CFR 1022.123, ``Fair Credit
Reporting (Regulation V).''
0
9. Revise part 901 to read as follows:
PART 901--PROCEDURES FOR STATE APPLICATION FOR EXEMPTION FROM THE
PROVISIONS OF THE ACT
Authority: Pub. L. 95-109, 91 Stat. 874, 15 U.S.C. 1692o; 5
U.S.C. 552.
Sec. 901.1 Cross-reference.
The rules formerly at 16 CFR part 901 have been republished by the
Consumer Financial Protection Bureau at 12 CFR part 1006, ``Fair Debt
Collection Practices Act (Regulation F).''
By direction of the Commission.
Donald S. Clark,
Secretary.
[FR Doc. 2012-8748 Filed 4-12-12; 8:45 am]
BILLING CODE 6750-01-P