Page 4 - September 2018

CFPB Finalizes Amendments to Annual procedures for extensions of successful trial
Privacy Notice Requirement Under disclosure programs; and (4) providing for
coordination with existing or future programs offered
Regulation P. by other regulators designed to facilitate innovation.
More specifically, CFPB is proposing to streamline
CFPB finalized amendments to Regulation P, which the application process by eliminating several
requires, among other things, that financial elements it determined were redundant or otherwise
institutions provide an annual notice describing their unnecessary. Comments are due 10/10/2018. The
privacy policies and practices to their customers. The notice may be viewed at:
amendment implements a December 2015 statutory https://www.gpo.gov/fdsys/pkg/FR-2018-09-
amendment to the Gramm-Leach-Bliley Act 10/pdf/2018-19385.pdf. Federal Register, Vol. 83,
providing an exception to this annual notice No. 175, 09/10/2018, 45574-45578.
requirement for financial institutions that meet
certain conditions. The amendments are effective
09/17/2018. The notice may be viewed at: CFPB Requests Comment on Information
https://www.gpo.gov/fdsys/pkg/FR-2018-08- Collections.
17/pdf/2018-17572.pdf. Federal Register, Vol. 83,
No. 160, 08/17/2018, 40945-40959. • CFPB announced it seeks comment on the
information collection titled Consumer
CFPB Finalizes Amendments to Truth in Complaint Intake System Company Portal
Lending Annual Threshold Adjustments. Boarding Form. CFPB also gave notice that it
sent the collection to OMB for review.
CFPB issued a final rule amending the regulation text Comments are due 10/01/2018. The notice may
and official interpretations for Regulation Z, which be viewed at:
implements the Truth in Lending Act (TILA). CFPB https://www.gpo.gov/fdsys/pkg/FR-2018-08-
is required to calculate annually the dollar amounts 31/pdf/2018-19063.pdf. Federal Register, Vol.
for several provisions in Regulation Z; the final rule 83, No. 170, 08/31/2018, 44607-44608.
revises, as applicable, the dollar amounts for
provisions implementing TILA and amendments to • CFPB announced it seeks comment on the
TILA, including under the Credit Card information collection titled Mortgage Acts And
Accountability Responsibility and Disclosure Act of Practices (Regulation N) 12 CFR 1014. CFPB
2009 (CARD Act), the Home Ownership and Equity
Protection Act of 1994 (HOEPA), and the Dodd- also gave notice that it sent the collection to
Frank Wall Street Reform and Consumer Protection OMB for review. Comments are due 11/05/2018.
Act (Dodd-Frank Act). CFPB is adjusting these The notice may be viewed at:
amounts, where appropriate, based on the annual https://www.gpo.gov/fdsys/pkg/FR-2018-09-
percentage change reflected in the Consumer Price 05/pdf/2018-19156.pdf. Federal Register, Vol.
Index (CPI) in effect on 06/01/2018. The final rule is 83, No. 172, 09/05/2018, 45109-45110.
effective 01/01/2019. The notice may be viewed at:
https://www.gpo.gov/fdsys/pkg/FR-2018-08- • CFPB announced it seeks comment on the
27/pdf/2018-18209.pdf. Federal Register, Vol. 83, information collection titled Mortgage
No. 166, 08/27/2018, 43503-43508. Assistance Relief Services (Regulation O) 12
CFR 1015. CFPB also gave notice that it sent the
CFPB Proposes Creation of Disclosure collection to OMB for review. Comments are
Sandbox. due 11/05/2018. The notice may be viewed at:
https://www.gpo.gov/fdsys/pkg/FR-2018-09-
CFPB issued a proposal to create a Disclosure 05/pdf/2018-19157.pdf. Federal Register, Vol.
Sandbox through its revised Policy to Encourage 83, No. 172, 09/05/2018, 45111-45112.
Trial Disclosure Programs (TDP Policy). The
proposal is to revise the TDP Policy in order to more • CFPB announced it seeks comment on the
effectively encourage companies to conduct trial information collection titled Registration of
disclosure programs. The proposed revisions have the
following goals: (1) Reducing the application burden Mortgage Loan Originators (Regulation G) 12
and review time frame; (2) increasing guidance CFR 1007. CFPB also gave notice that it sent the
regarding the testing time frame; (3) specifying collection to OMB for review. Comments are

SEPTEMBER 2018
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