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CFPB · Final rule FR Doc. 2024-27978 · Published

CFPB Updates to Supervision and Enforcement Procedures (Ministerial Organizational Changes)

The CFPB is making ministerial amendments to 12 CFR parts 1070, 1080, 1081, 1082 and 1090 to reflect the replacement of its Division of Supervision, Enforcement, and Fair Lending with separate Supervision and Enforcement Divisions. The rule imposes no new recordkeeping, reporting or disclosure requirements on covered entities and is effective November 29, 2024.

InformationalEffective Nov 29, 2024All checks passedRead the rule ↗ (opens in a new tab)

Loan impact

From the rule text · verified

Applies to: No loans are affected; the rule updates CFPB internal titles and divisions in its supervision, investigation and adjudication procedures.

Affected area
Enforcement
Effective
Nov 29, 2024
Applicability confidence
Verified: every row above is supported by the source text
Supporting quotes from the rule
  • affected areas“The CFPB is making limited amendments to five rules to reflect a recent organizational change.”

What changed

From the rule text · Sections § 1070.2, § 1080.2, § 1081.103, § 1082.1, § 1090.103
RequirementPreviouslyNow
CFPB confidential supervisory information responsibilities moved to Supervision DirectorClarifiedSection § 1070.2Not statedSupervision Director means the Supervision Director or any CFPB employee designated by the Director of the CFPB or the Supervision Director to act under this part.
Investigation rules drop Office of Enforcement definitionClarifiedSection § 1080.2Not statedDefinition of 'Office of Enforcement' removed from § 1080.2
Adjudication rules define Enforcement DivisionClarifiedSection § 1081.103Not statedEnforcement Division defined as the unit of the Bureau responsible for enforcement of Federal consumer financial law
State official notification rules reference Enforcement DivisionClarifiedSection § 1082.1Not statedEnforcement Division replaces Office of Enforcement; 'office of the Bureau' becomes 'unit of the Bureau'
Larger participant rules replace Assistant Director with Supervision DirectorClarifiedSection § 1090.103Not statedSupervision Director replaces Assistant Director in § 1090.103

What to do

AWACS interpretation · not source language

What to review: No change in this rule is mandatory and no loans are affected; it only updates CFPB internal titles and divisions in its supervision, investigation and adjudication procedures, effective November 29, 2024, so a lender may simply note the new Supervision Director and Enforcement Division references.

Source and record

Version 1 · archived

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