federal_register: 2013-06291

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document_number title type abstract publication_date pub_year pub_month html_url pdf_url agency_names agency_ids excerpts regulation_id_numbers
2013-06291 Defining Larger Participants of the Student Loan Servicing Market Proposed Rule The Bureau of Consumer Financial Protection (Bureau or CFPB) proposes to amend the regulation defining larger participants of certain consumer financial product and service markets by adding a new section to define larger participants of a market for student loan servicing. The Bureau proposes this rule pursuant to its authority, under the Dodd-Frank Wall Street Reform and Consumer Protection Act, to supervise certain nonbank covered persons for compliance with Federal consumer financial law and for other purposes. The Bureau has the authority to supervise nonbank covered persons of all sizes in the residential mortgage, private education lending, and payday lending markets. In addition, the Bureau has the authority to supervise nonbank "larger participant[s]" of markets for other consumer financial products or services, as the Bureau defines by rule. The proposal (Proposed Rule) would identify a market for student loan servicing and define "larger participants" of this market that would be subject to the Bureau's supervisory authority. 2013-03-28 2013 3 https://www.federalregister.gov/documents/2013/03/28/2013-06291/defining-larger-participants-of-the-student-loan-servicing-market https://www.govinfo.gov/content/pkg/FR-2013-03-28/pdf/2013-06291.pdf Consumer Financial Protection Bureau 573 The Bureau of Consumer Financial Protection (Bureau or CFPB) proposes to amend the regulation defining larger participants of certain consumer financial product and service markets by adding a new section to define larger participants of a market for... 3170-AA35

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