12 CFR Part 1082

Bur. of Consumer Financial Protection

§ 1082.1

and-desist order shall remain effective
and enforceable until:
(1) The effective date of a final order
issued upon the conclusion of the adjudication proceeding;
(2) With respect to a temporary
cease-and-desist order issued pursuant
to § 1081.501(b) only, the Bureau determines by examination or otherwise
that the books and records are accurate and reflect the financial condition
of the respondent, and the Director or
his or her designee issues an order terminating, limiting, or suspending the
temporary cease-and-desist order.

PART 1082—STATE OFFICIAL
NOTIFICATION RULES
AUTHORITY: 12 U.S.C. 5481 et seq.

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SOURCE: 77 FR 39116, June 29, 2012, unless
otherwise noted.

§ 1082.1 Procedures for notifying the
Bureau of Consumer Financial Protection when a State Official takes
an action to enforce title X of the
Dodd-Frank Wall Street Reform and
Consumer Financial Protection Act
of 2010.
(a) Notice requirement. (1) Pursuant to
12 U.S.C. 5552(b) and except as provided
in paragraph (b) of this section, every
State attorney general and State regulator (State Official) shall provide the
notice described in paragraph (c) of
this section to the Office of Enforcement of the Bureau of Consumer Financial Protection (the Bureau), the
office of the Bureau responsible for enforcement of Federal consumer financial law pursuant to title X of the
Dodd-Frank Wall Street Reform and
Consumer Financial Protection Act of
2010, as amended, Public Law 111–203
(July 21, 2010), codified at 12 U.S.C. 5481
et seq. (the Dodd-Frank Act), and the
Office of the Executive Secretary of
the Bureau at least ten calendar days
prior to initiating any action against
any covered person. For purposes of
this section, an action requiring notification is any adjudicative proceeding
before a court or an administrative or
regulatory body to determine whether
a violation of any provision of title X
of the Dodd-Frank Act or any regulation prescribed thereunder has occurred. Initiating an action under this

section would include but not be limited to the filing of a complaint, motion for relief, or other document
which initiates an action or a proceeding.
(2) Notice shall be provided to the Office of Enforcement and the Office of
the Executive Secretary, or their successor offices, via electronic mail to
[email protected]
and
[email protected]. In the event of technical problems preventing the delivery
of notice, the Office of Enforcement or
its successor entity should be contacted.
(3) On the same date that notice is
provided to the Office of Enforcement
and the Office of the Executive Secretary pursuant to paragraph (a)(1) of
this section, a copy of the notice shall
be sent to the relevant prudential regulator, if any, or the designee thereof,
by mail or electronic mail.
(4) Notice shall be deemed to have
been provided as of the date of transmitting or mailing the materials described in paragraph (c) of this section.
(5) The Office of Enforcement, or its
successor entity, in consultation with
a State Official, may provide, for good
cause shown, an alternative deadline
for the notice described in paragraph
(a)(1) of this section.
(b) Emergency actions. (1) Pursuant to
12 U.S.C. 5552(b), in the event that a
State Official initiates or intends to
initiate an action and, in order to protect the public interest or prevent irreparable and imminent harm, is unable to provide timely notice as described in paragraph (a) of this section,
the State Official shall provide the notice described in paragraph (c) of this
section as soon as is practicable and
not later than 48 hours after initiation
of the action.
(2) Notice shall be provided in accordance with the procedures set forth in
paragraphs (a)(2) through (4) of this
section.
(3) The Office of Enforcement, or its
successor entity, in consultation with
a State Official, may provide, for good
cause shown, an alternative deadline
for the notice described in paragraph
(b)(1) of this section.
(c) Contents of notice. (1) Pursuant to
12 U.S.C. 5552(b), the notice required

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§ 1082.1

12 CFR Ch. X (1–1–20 Edition)

under paragraphs (a) and (b) of this section shall include a written description
of the anticipated action, including:
(i) The court or body in which the action is to be initiated;
(ii) The identity of the parties to the
action;
(iii) The nature of the action to be
initiated;
(iv) The anticipated date of initiating
the action;
(v) The alleged facts underlying the
action;
(vi) A contact name, electronic mail
address, and phone number of an individual involved with the matter in the
office of the State Official with whom
the Bureau may consult;
(vii) A determination as to whether
there may be a need to coordinate the
prosecution of the action so as not to
interfere with any action, including
any rulemaking, undertaken by the
Bureau, a prudential regulator, or another Federal agency; and
(viii) A statement by the State Official setting forth any limitations on
the disclosure of the substance or fact
of the notice to any person or entity
outside of the recipient agency.
(2) The notice required under paragraphs (a) and (b) of this section shall
further
include
a
complete
and
unredacted copy of any complaint, motion for relief, or similar document
that is the subject of the notice, in its
form as of the date the notice is provided. To the extent the complaint,
motion for relief, or similar document
contains the information described in
paragraph (c)(1) of this section, provision of the complaint, motion for relief, or similar document shall be
deemed sufficient notice of that information.
(3) In the event that notice is provided after the initiation of an action,
the written description shall also include the following, in addition to the
information described in paragraph
(c)(1) of this section:
(i) A brief description of any proceeding that occurred as a result of the
initiation of the action, including any
orders issued by a court or other body;
(ii) Any case number, matter number, or designation assigned to the action; and

(iii) Information on scheduled court
or other administrative or regulatory
proceedings.
(4) In the event that notice is provided after the initiation of an action,
in addition to the requirements set
forth in paragraph (c)(3) of this section,
the notice shall further include a complete, unredacted copy of any document filed by any party in relation to
the action and any orders issued by the
court or other body.
(5) If the State Official, after providing the notice described in paragraphs (c)(1) and (c)(2) of this section,
intends to file a complaint, motion for
relief, or similar document that is materially different from the document
included with the notice, the State Official shall provide a copy of that document prior to filing, in accordance with
the method described in paragraph
(a)(2) of this section.
(d) Bureau response. In any action described in paragraphs (a) and (b) of this
section, the Bureau may:
(1) Intervene in the action as a party;
(2) Upon intervening,
(i) Remove the action to the appropriate United States district court, if
the action was not originally brought
there; and
(ii) Be heard on all matters arising in
the action;
(3) Appeal any order or judgment, to
the same extent as any other party in
the proceeding may; and
(4) Otherwise participate in the action as appropriate.
(e) Confidentiality and privilege. (1)
The information described in paragraph (c) of this section, including the
complaint, motion for relief, or other
document, as well as the fact that notice has been provided, shall be subject
to any limitations on disclosure imposed by the State Official pursuant to
paragraph (c)(1)(viii) of this section;
provided, however, that the recipient
may disclose such information:
(i) As required by law;
(ii) When the information is or becomes publicly available;
(iii) With the consent of the State Official; or

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Bur. of Consumer Financial Protection

§ 1090.100

(iv) To another State or Federal government entity when necessary to protect the public interest, after consultation with the State Official who provided the notice.
(2) Provision of notice by a State Official and disclosure of information
pursuant to paragraph (e)(1) of this section shall not be deemed a waiver of
any applicable privilege.
(f) No private right of action or defense.
The requirements set forth in this section are not intended to, do not, and
may not be relied upon to create any
right, benefit, or defense, substantive
or procedural, enforceable at law by a
party against the United States or any
State enforcing the provisions of the
Dodd-Frank Act or any regulation prescribed thereunder.

PART 1083—CIVIL PENALTY
ADJUSTMENTS
AUTHORITY: 12 U.S.C. 2609(d); 12 U.S.C.
5113(d)(2); 12 U.S.C. 5565(c); 15 U.S.C. 1639e(k);
15 U.S.C. 1717a(a); 28 U.S.C. 2461 note.

§ 1083.1 Adjustments of civil penalty
amounts.
(a) The maximum amount of each
civil penalty within the jurisdiction of
the Bureau of Consumer Financial Protection to impose is adjusted in accordance with the Federal Civil Penalties
Inflation Adjustment Act of 1990, as
amended by the Debt Collection Improvement Act of 1996 and further
amended by the Federal Civil Penalties
Inflation Adjustment Act Improvements Act of 2015 (28 U.S.C. 2461 note),
as follows:

TABLE 1 TO PARAGRAPH (a)
U.S. Code citation

12
12
12
15
15
12
12
12
12
15
15

U.S.C.
U.S.C.
U.S.C.
U.S.C.
U.S.C.
U.S.C.
U.S.C.
U.S.C.
U.S.C.
U.S.C.
U.S.C.

5565(c)(2)(A) .................................................
5565(c)(2)(B) .................................................
5565(c)(2)(C) .................................................
1717a(a)(2) ....................................................
1717a(a)(2) ....................................................
2609(d)(1) ......................................................
2609(d)(1) ......................................................
2609(d)(2)(A) .................................................
5113(d)(2) ......................................................
1639e(k)(1) ....................................................
1639e(k)(2) ....................................................

Tier 1 penalty ................................................................
Tier 2 penalty ................................................................
Tier 3 penalty ................................................................
Per violation ..................................................................
Annual cap ....................................................................
Per failure .....................................................................
Annual cap ....................................................................
Per failure, where intentional ........................................
Per violation ..................................................................
First violation ................................................................
Subsequent violations ..................................................

(b) The adjustments in paragraph (a)
of this section shall apply to civil penalties assessed after January 31, 2019,
whose associated violations occurred
on or after November 2, 2015.
[84 FR 520, Jan. 31, 2019]

PART 1090—DEFINING LARGER
PARTICIPANTS OF CERTAIN CONSUMER FINANCIAL PRODUCT
AND SERVICE MARKETS

Consumer Reporting Market.
Consumer debt collection market.
Student loan servicing market.
International Money Transfer MarAutomobile financing market.

AUTHORITY: 12 U.S.C. 5514(a)(1)(B); 12 U.S.C.
5514(a)(2); 12 U.S.C. 5514(b)(7)(A); and 12
U.S.C. 5512(b)(1).
SOURCE: 77 FR 42898, July 20, 2012, unless
otherwise noted.

Subpart A—General

Sec.
1090.100 Scope and purpose.
1090.101 Definitions.
1090.102 Status as larger participant subject
to supervision.
1090.103 Assessing status as a larger participant.

§ 1090.100 Scope and purpose.
This part defines those nonbank covered persons that qualify as larger participants of certain markets for consumer financial products or services

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$5,781
28,906
1,156,242
2,014
2,013,399
94
189,427
190
29,192
11,563
23,125

Subpart B—Markets
1090.104
1090.105
1090.106
1090.107
ket.
1090.108

Subpart A—General

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Adjusted
maximum civil
penalty
amount

Civil penalty description

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