The Bureau is issuing this proposed rule to implement section 1071 of the Dodd-Frank Act, governing small business lending data collection under ECOA and Regulation B.
The notices listed below are currently open for public comment. For each notice, click through to view the Federal Register notice where you can read the full notice and select the “Submit a formal comment” option to contribute.
Request for Information and Comment on Financial Institutions' Use of Artificial Intelligence, Including Machine Learning
The Board of the Federal Reserve System, Bureau of Consumer Financial Protection, Federal Deposit Insurance Corporation, National Credit Union Administration, and the Office of the Comptroller of the Currency are gathering information and comments on financial institutions' use of artificial intelligence (AI), including machine learning (ML).
Protections for Borrowers Affected by the COVID-19 Emergency Under the Real Estate Settlement Procedures Act (RESPA), Regulation X
The Bureau of Consumer Financial Protection (Bureau) is proposing amending Regulation X to assist borrowers affected by the COVID-19 emergency. The proposed amendments would generally prohibit servicers from making the first notice or filing required for foreclosure until after December 31, 2021, amend early intervention and reasonable diligence obligations to ensure that servicers are communicating timely and accurate information to borrowers about their loss mitigation options during the current crisis, and temporarily permit mortgage servicers to offer certain loss mitigation options made available to borrowers experiencing a COVID-19-related hardship based on the evaluation of an incomplete application.
Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z): General QM Loan Definition; Delay of Mandatory Compliance Date
The Bureau of Consumer Financial Protection (Bureau) is proposing to delay the mandatory compliance date of the final rule titled Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z): General QM Loan Definition (General QM Final Rule) until October 1, 2022.
Statement Regarding the Provision of Financial Products and Services to Consumers with Limited English Proficiency
This statement encourages financial institutions to better serve consumers with limited English proficiency and provides principles and guidelines to assist financial institutions in complying with the Dodd-Frank Act, the Equal Credit Opportunity Act, and other applicable laws.
CARD Act Rules Review Pursuant to the Regulatory Flexibility Act; Request for Information Regarding Consumer Credit Card Market
The Bureau is requesting comment on two related, but separate, reviews, under the Regulatory Flexibility Act and the Credit Card Accountability Responsibility and Disclosure Act of 2009.
Amendments to the 2013 Mortgage Servicing Rules under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z)
The Bureau of Consumer Financial Protection (Bureau) is reopening the comment period for a specific aspect of the proposed rule published by the Bureau in the Federal Register on December 15, 2014. The Bureau conducted consumer testing of sample periodic statement forms for consumers in bankruptcy after the close of the original comment period. The Bureau now reopens the comment period until May 26, 2016 to seek comment specifically on the report summarizing consumer testing of sample periodic statement forms for consumers in bankruptcy.