Page 4 - June 2017

• CFPB requests comment on its assessment of the FRB is also applying Regulation CC’s existing check
Ability to Repay/Qualified Mortgage Rule, as warranties under subpart C to checks that are
well as certain recommendations and information collected electronically, and in addition, has adopted
that may be useful in conducting the planned new warranties and indemnities related to checks
assessment. Comments are due 07/31/2017. The collected and returned electronically and to
notice may be viewed at: electronically-created items. The rule is effective
https://www.gpo.gov/fdsys/pkg/FR-2017-06- 07/01/2017. The notice may be viewed at:
01/pdf/2017-11218.pdf. Federal Register, Vol. https://www.federalreserve.gov/newsevents/pressrele
82, No. 104, 06/01/2017, 25246-25250. ases/files/bcreg20170531a1.pdf.

• CFPB requests comment on the small business FRB Proposes Amendment to Regulation
financing market, seeking to understand more CC.
about the products that are offered to small
businesses, including women-owned and FRB has proposed amendments to Regulation CC to
minority-owned small businesses, as well as the address situations where there is a dispute as to
financial institutions that offer such credit. CFPB whether a check has been altered or is a forgery, and
is also seeking comment on privacy concerns the original check is not available for inspection. The
related to public disclosure of data points. proposed rule would adopt a presumption of
Comments are due 07/14/2017. The notice may alteration for any dispute over whether the dollar
be viewed at: amount or the payee on a substitute check or
https://www.gpo.gov/fdsys/pkg/FR-2017-05- electronic check has been altered or whether the
15/pdf/2017-09732.pdf. Federal Register, Vol. substitute check or electronic check is derived from
82, No. 92, 05/15/2017, 22318-22322. an original check that is a forgery. Comments are due
08/01/2017. The notice may be viewed at:
CFPB Requests Comment on Debt https://www.gpo.gov/fdsys/pkg/FR-2017-06-
Collection Quantitative Disclosure 02/pdf/2017-11380.pdf. Federal Register, Vol. 82,
Testing. No. 105, 06/02/2017, 25539-25542.

CFPB has issued a notice to announce it seeks FRB Requests Comment on Information
comment on the information collection titled Debt Collections.
Collections Quantitative Disclosure Testing. CFPB is
also giving notice that it has sent the collection to • FRB has issued a notice to announce it seeks
OMB for review. Comments are due 08/04/2017. The comment on the information collection titled
notice may be viewed at: Notification of Nonfinancial Data Processing
https://www.gpo.gov/fdsys/pkg/FR-2017-06- Activities. FRB is also giving notice that it has
05/pdf/2017-11551.pdf. Federal Register, Vol. 82, sent the collection to OMB for review.
No. 106, 06/05/2017, 25779. Comments are due 07/31/2017. The notice may
be viewed at:
FRB Announces Final Rule Amending https://www.gpo.gov/fdsys/pkg/FR-2017-05-
Regulation CC. 31/pdf/2017-11136.pdf. Federal Register, Vol.
82, No. 103, 05/31/2017, 24970-24971.
The Board of Governors of the Federal Reserve
System (FRB) has issued a notice amending subparts • FRB has issued a notice to announce it seeks
A, C, and D of Regulation CC, Availability of Funds comment on the information collection titled
and Collection of Checks, which implements the Government-Administered, General-Use Prepaid
Expedited Funds Availability Act of 1987, the Check Card Surveys. FRB is also giving notice that it
Clearing for the 21st Century Act of 2003, and the has sent the collection to OMB for review.
official staff commentary to the regulation. In the Comments are due 08/04/2017. The notice may
final rule, FRB has modified the current check be viewed at:
collection and return requirements to reflect the https://www.gpo.gov/fdsys/pkg/FR-2017-06-
virtually all-electronic check collection and return 05/pdf/2017-11577.pdf. Federal Register, Vol.
environment and to encourage all depositary banks to 82, No. 106, 06/05/2017, 25801-25802.
receive, and paying banks to send, returned checks
electronically. FRB has retained, without change, the
current same-day settlement rule for paper checks.

2