On February 24, the CFPB issued four notices in the Federal Register, requesting public comment on proposed extensions of information collection requirements under four separate federal regulations impacting banking and consumer finance industries. The notices covered Regulation DD (Truth in Savings), Regulation C (HMDA), Regulation G (Registration of Mortgage Loan Originators), and Regulation I (Disclosure Requirements for Depository Institutions Lacking Federal Deposit Insurance), each seeking to renew approval for ongoing disclosure, recordkeeping and reporting obligations by financial institutions. Each of the notices requested public comments on whether the collection of information is necessary or useful for the proper performance of the functions of the CFPB, the accuracy of the estimated burden, and ways to enhance the collected information and minimize the burden thereof. The Bureau stated that the proposed extensions do not introduce new requirements and requested public comments by March 26 for all four proposed extensions.
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