2023-02037. Semiannual Regulatory Agenda

AGENCY:

Bureau of Consumer Financial Protection.

ACTION:

Semiannual Regulatory Agenda.

SUMMARY:

The Consumer Financial Protection Bureau (Bureau) is publishing this agenda as part of the Fall 2022 Unified Agenda of Federal Regulatory and Deregulatory Actions. The Bureau reasonably anticipates having the regulatory matters identified below under consideration during the period from December 1, 2022, to November 30, 2023. The next agenda will be published in Spring 2023 and will update this agenda through Spring 2024. Publication of this agenda is in accordance with the Regulatory Flexibility Act (5 U.S.C. 601 et seq.).

DATES:

This information is current as of September 30, 2022.

ADDRESSES:

Consumer Financial Protection Bureau, 1700 G Street NW, Washington, DC 20552.

FOR FURTHER INFORMATION CONTACT:

A staff contact is included for each regulatory item listed herein. If you require this document in an alternative electronic format, please contact [e-mail].

SUPPLEMENTARY INFORMATION:

The Bureau is publishing its Fall 2022 Agenda as part of the 2022 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the Office of Management and Budget (OMB) under Executive Order 12866. The agenda lists the regulatory matters that the Bureau reasonably anticipates having under consideration during the period from December 1, 2022, to November 30, 2023, as described further below.^[1] The complete Unified Agenda is available to the public at the following website: https://www.reginfo.gov.

Consistent with procedures established by OMB's Office of Information and Regulatory Affairs,^[2] the Bureau's active agenda is divided into five sections: pre-rule stage; proposed rule stage; final rule stage; long-term actions, completed actions. Generally, the pre-rule through final rule stages sections list items the Bureau plans to issue within the next 12 months. Rulemakings in the pre-rule stage are listed with a date of November 2023, the end of the reporting period, as a placeholder only. The long-term actions are listed for informational purposes, if a regulatory action is anticipated beyond that one-year time frame. Completed actions are those that have been published as final or are withdrawn.

Rohit Chopra,

Director, Consumer Financial Protection Bureau.

Consumer Financial Protection Bureau—Prerule Stage

Sequence No.	Title	Regulation Identifier No.
499	Required Rulemaking on Personal Financial Data Rights	3170-AA78

Consumer Financial Protection Bureau—Proposed Rule Stage

Sequence No.	Title	Regulation Identifier No.
500	Amendments to FIRREA Concerning Automated Valuation Models	3170-AA57

Consumer Financial Protection Bureau—Final Rule Stage

Sequence No.	Title	Regulation Identifier No.
501	Small Business Lending Data Collection Under the Equal Credit Opportunity Act	3170-AA09

CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)

Prerule Stage

499. Required Rulemaking on Personal Financial Data Rights [3170-AA78]

Legal Authority:12 U.S.C. 5533

Abstract: Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) provides that, subject to rules prescribed by the Bureau, a covered entity (for example, a bank) must make available to consumers, upon request, transaction data and other information concerning a consumer financial product or service that the consumer obtains from the covered entity. Section 1033 also states that the Bureau must prescribe by rule standards to promote the development and use of standardized formats for information made available to consumers. In November 2020, the Bureau published an Advance Notice of Proposed Rulemaking (ANPRM) concerning implementation of section 1033, accepting comments until February 2021. In October 2022, the Bureau released materials in advance of convening a panel under the Small Business Regulatory Enforcement Fairness Act (SBREFA), in conjunction with the Office of Management and Budget and the Small Business Administration's Chief Counsel for Advocacy. The Bureau's next step in the rulemaking is to convene the SBREFA panel and issue a report summarizing feedback received from the panel.

Timetable:

Action	Date	FR Cite
Request for Information	11/22/16	81 FR 83806
Principles Statement	10/18/17
ANPRM	11/06/20	85 FR 71003
ANPRM Comment Period End	02/04/21
SBREFA Outline	10/27/22
SBREFA Report	02/00/23

Regulatory Flexibility Analysis Required: Yes.

Agency Contact: Michael Scherzer, Office of Regulations, Consumer Financial Protection Bureau, Washington, DC 20552, Phone: [phone].

RIN: 3170-AA78

CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)

Proposed Rule Stage

500. Amendments to Firrea Concerning Automated Valuation Models [3170-AA57]

Legal Authority:12 U.S.C. 3354

Abstract: The Bureau is participating in an interagency rulemaking process with the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Federal Housing Finance Agency (collectively, the Agencies) to develop regulations to implement the amendments made by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) concerning automated valuation models. The FIRREA amendments require implementing regulations for quality control standards for automated valuation models (AVMs). In February 2022, the Bureau initiated the process under the Small Business Regulatory Enforcement Fairness Act of 1996 (SBREFA) for this rulemaking and released an outline of proposals and alternatives under consideration for the SBREFA panel, made up of representatives of small businesses that might be affected by the rulemaking. The Bureau released a final SBREFA report on May 13, 2022. The Agencies will continue to work to develop a proposed rule to implement the Dodd-Frank Act's AVM amendments to FIRREA.

Timetable:

Action	Date	FR Cite
SBREFA Outline	02/23/22
SBREFA Report	05/13/22
NPRM	03/00/23

Regulatory Flexibility Analysis Required: Yes.

Agency Contact: Pedro De Oliveira, Office of Regulations, Consumer Financial Protection Bureau, Washington, DC 20552, Phone: [phone].

RIN: 3170-AA57

CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)

Final Rule Stage

501. Small Business Lending Data Collection Under the Equal Credit Opportunity Act [3170-AA09]

Legal Authority:15 U.S.C. 1691c-2

Abstract: Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended the Equal Credit Opportunity Act (ECOA) to require, subject to rules prescribed by the Bureau, financial institutions to report information concerning credit applications made by women-owned, minority-owned, and small businesses. In September 2020, the Bureau released an outline of proposals under consideration and alternatives considered in advance of convening a panel under the Small Business Regulatory Enforcement Fairness Act (SBREFA), in conjunction with the Office of Management and Budget and the Small Business Administration's Chief Counsel for Advocacy. The SBREFA panel was convened in October 2020 and received feedback from representatives of small entities on the impacts the rules the Bureau is considering to implement section 1071 would have on small entities likely to be directly affected by the rulemaking. The panel's report was completed and released in December 2020. On October 8, 2021, a Notice of Proposed Rulemaking (NPRM) was published in the Federal Register . The Bureau's next action for the section 1071 rulemaking is the issuance of a final rule.

Timetable:

Action	Date	FR Cite
Request for Information	05/15/17	82 FR 22318
Request for Information Comment Period End	09/14/17
SBREFA Outline	09/15/20
Pre-Rule Activity—SBREFA Report	12/14/20
NPRM	10/08/21	86 FR 56356
NPRM Comment Period End	01/06/22
Final Rule	01/00/23

Regulatory Flexibility Analysis Required: Yes.

Agency Contact: Kristine Andreassen, Office of Regulations, Consumer Financial Protection Bureau, Washington, DC 20552, Phone: [phone].

RIN: 3170-AA09

Footnotes

1.  The listing does not include certain routine, frequent, or administrative matters. The Bureau is reporting information for this Unified Agenda in a manner consistent with past practice.

2.   See https://www.reginfo.gov/​public/​jsp/​eAgenda/​UA_​About.myjsp.