On November 29, the CFPB published a final rule in the Federal Register to make “ministerial updates” to its supervision and enforcement procedures, effective upon publication, to reflect recent organizational changes within the CFPB. Specifically, the Division of Supervision, Enforcement, and Fair Lending will split into two separate entities: the Supervision Division and the Enforcement Division. As a result, responsibilities related to the disclosure of confidential supervisory information have been reassigned to the Supervision Director.
The CFPB’s final rule amended five specific regulations — 12 C.F.R. Part 1070, Part 1080, Part 1081, Part 1082, Part 1090 — to update nomenclature and reflect these organizational changes.
The CFPB clarified that these updates do not impose new or revised recordkeeping, reporting, or disclosure requirements, and are exempt from the notice-and-comment rulemaking requirements of the Administrative Procedure Act.
