Unknown. Final rule, staff commentary
2,912 words·~13 min read·
/register/2011/06/20/2011-15180·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
--- schema: federal-register doc_type: fedreg source_file: FR-2011-06-20.xml --- 76 118 Monday, June 20, 2011 Contents Agriculture Agriculture Department See Food and Nutrition Service NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 35832 2011-15156 Air Force Air Force Department NOTICES Meetings: Global Positioning System Directorate, 35858-35859 2011-15185 Army Army Department NOTICES Privacy Act; Systems of Records, 35859-35861 2011-15272 Children Children and Families Administration NOTICES Agency Information Collection Activities;
Proposals, Submissions, and Approvals, 2011-15112 35894-35896 2011-15115 2011-15189 Coast Guard Coast Guard RULES Anchorage Ground and Regulated Navigation Areas: Superfund Site, New Bedford Harbor, New Bedford, MA, 35742-35744 2011-15164 PROPOSED RULES Port Access Route Study; Availability: Approaches to San Francisco, 35805-35806 2011-15167 Special Local Regulations for Marine Events: Patuxent River, Solomons, MD, 35802-35805 2011-15165 Commerce Commerce Department See International Trade Administration See National Oceanic and Atmospheric Administration Comptroller Comptroller of the Currency NOTICES Agency Information Collection Activities;
Proposals, Submissions, and Approvals, 35948 2011-15154 Defense Department Defense Department See Air Force Department See Army Department NOTICES Meetings: Department of Defense Wage Committee, 2011-15239 35858 2011-15240 Defense Nuclear Defense Nuclear Facilities Safety Board NOTICES Safety Culture at the Waste Treatment and Immobilization Plant, 35861-35864 2011-15146 Disability Disability Employment Policy Office NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 35915-35918 2011-15297 Drug Drug Enforcement Administration NOTICES Agency Information Collection Activities;
Proposals, Submissions, and Approvals: U.S. Official Order Forms for Schedule I and II Controlled Substances (Accountable Forms); Order Form Requisition, 35913-35914 2011-15130 Education Education Department NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 35864 2011-15291 Proposed Priority; Special Demonstration Programs: National Technical Assistance Projects to Improve Employment Outcomes for Individuals with Disabilities, 35864-35866 2011-15293 Election Election Assistance Commission NOTICES Meetings;
Sunshine Act, 35866-35867 2011-15326 Energy Department Energy Department See Federal Energy Regulatory Commission NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 35867-35869 2011-15279 Meetings: International Energy Agency, 35869-35870 2011-15282 Environmental Protection Environmental Protection Agency RULES National Emission Standards for Hazardous Air Pollutants for Area Sources: Plating and Polishing, 35744-35753 2011-15274 PROPOSED RULES National Emission Standards for Hazardous Air Pollutants for Area Sources:
Plating and Polishing, 35806-35809 2011-15273 NOTICES Certain New Chemicals; Receipt and Status Information, 35886-35891 2011-15251 Meetings: Local Government Advisory Committee and Small Community Advisory Subcommittee, 35891-35892 2011-15264 Project Waiver of Buy American Requirement of the American Recovery and Reinvestment Act of 2009: Salt Lake City, UT, 35892 2011-15252 Executive Office of the President See Presidential Documents Federal Aviation Federal Aviation Administration RULES Special Conditions:
Gulfstream Aerospace LP Model G250 Airplane Automatic Power Reserve, an Automatic Takeoff Thrust Control System, 35736-35739 2011-15175 PROPOSED RULES Amendment of Class E Airspace: Shelby, NC, 35799-35801 2011-15110 Federal Communications Federal Communications Commission PROPOSED RULES Review of the Emergency Alert System, 35810-35831 2011-15119 Television Broadcasting Services: Eau Claire, WI, 35831 2011-15286 NOTICES Termination of Dormant Proceedings, 35892-35893 2011-15292 Federal Emergency Federal Emergency Management Agency RULES Changes in Flood Elevation Determinations, 35753-35755 2011-15308 NOTICES Meetings:
Federal Radiological Preparedness Coordinating Committee, 35902 2011-15186 Federal Energy Federal Energy Regulatory Commission NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 35870-35873 2011-14900 2011-15193 2011-15255 Applications: Blue Heron Hydro LLC, 35873-35876 2011-15170 2011-15172 Union Electric Co. (dba Ameren Missouri), 35874-35875 2011-15260 Combined Filings, 2011-15157 2011-15158 35877-35880 2011-15159 2011-15160 2011-15191 Complaints:
Chevron Products Co. v. SFPP, LP, 2011-15258 35880-35881 2011-15259 ConocoPhillips Co. v. SFPP, LP, 2011-15256 35881-35882 2011-15257 Effectiveness of Exempt Wholesale Generator Status, 35882 2011-15171 Environmental Assessments; Availability, etc.: Distrigas of Massachusetts LLC Heating Value and Wobbe Index Reduction Project, 35882-35884 2011-15254 Gas Transmission Northwest LLC Carty Lateral Project, 35884-35886 2011-15253 Orange Cove Irrigation District, and Friant Power Authority, 35886 2011-15192 Procedural Schedule for Licensing:
FirstLight Hydro Generating Co., City of Norwich Department of Public Utilities, 35886 2011-15261 Federal Housing Finance Agency Federal Housing Finance Agency RULES Conservatorship and Receivership, 35724-35736 2011-15098 PROPOSED RULES Prudential Management and Operations Standards, 35791-35799 2011-15100 Federal Reserve Federal Reserve System RULES Consumer Leasing, 35721-35722 2011-15180 Truth in Lending, 35722-35724 2011-15178 2011-15179 NOTICES Changes in Bank Control: Acquisitions of Shares of Bank or Bank Holding Company, 35893 2011-15234 Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 35893-35894 2011-15233 Federal Transit Federal Transit Administration NOTICES Limitations on Claims against Proposed Public Transportation Projects, 35939-35941 2011-15296 Fish Fish and Wildlife Service NOTICES Endangered and Threatened Wildlife and Plants:
Five-Year Status Reviews of 12 Species in the Mountain-Prairie Region, 35906-35908 2011-15183 Food and Drug Food and Drug Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Request for Designation as Country Not Subject to the Restrictions Applicable to Human Food and Cosmetics Manufactured From, Processed With, or Otherwise Containing, Material From Cattle, 35897-35899 2011-15142 Scientific and Technical Issues Related to Pharmaceutical Current Good Manufacturing Practice, 35896-35897 2011-15141 Determinations of Regulatory Review Period for Purposes of Patent Extension:
MYFORTIC, 35899 2011-15197 Food and Nutrition Food and Nutrition Service PROPOSED RULES Updated Trafficking Definition and Supplemental Nutrition Assistance Program Dual Participation, 35787-35791 2011-14982 Foreign Assets Foreign Assets Control Office RULES Foreign Assets Control Regulations: Transaction Control Regulations (Regulations Prohibiting Transactions Involving Shipment of Certain Merchandise Between Foreign Countries), 35739-35740 2011-15168 North Korea Sanctions Regulations, 35740-35742 2011-15166 General Services General Services Administration NOTICES Establishment of the Green Building Advisory Committee, 35894 2011-15298 Health and Human Health and Human Services Department See Children and Families Administration See Food and Drug Administration See Health Resources and Services Administration See National Institutes of Health Health Resources Health Resources and Services Administration NOTICES Agency Information Collection Activities;
Proposals, Submissions, and Approvals, 35900 2011-15194 Homeland Homeland Security Department See Coast Guard See Federal Emergency Management Agency See U.S. Customs and Border Protection Housing Housing and Urban Development Department NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Application for Energy Innovation Fund - Multifamily Pilot Program, 35904-35905 2011-15268 Participation Agreement, Follow-up Survey, and Key Informant Interview Guide for The Impact of Housing and Services Interventions on Homeless Families, 35903-35904 2011-15270 Section 8 Fair Market Rent Surveys, 35905-35906 2011-15275 Interior Interior Department See Fish and Wildlife Service See Land Management Bureau See National Park Service International Trade Adm International Trade Administration NOTICES Antidumping Duty Administrative Reviews and New Shipper Reviews, etc.:
Folding Metal Tables and Chairs from People's Republic of China, 35832-35842 2011-14046 International Trade Com International Trade Commission NOTICES Commission Determinations to Conduct Full Five-Year Reviews Concerning the Antidumping Duty Orders: Brass Sheet and Strip from France, Germany, Italy, and Japan, 35910 2011-15249 Complaints, 35910-35912 2011-15117 2011-15242 Investigations: Business Jet Aircraft Industry; Structure and Factors Affecting Competitiveness , 35912-35913 2011-15248 Justice Department Justice Department See Drug Enforcement Administration Labor Department Labor Department See Disability Employment Policy Office See Mine Safety and Health Administration See Occupational Safety and Health Administration NOTICES Agency Information Collection Activities;
Proposals, Submissions, and Approvals: Report of Changes That May Affect Your Black Lung Benefits, 35914-35915 2011-15244 Voluntary Protection Program Information, 35914 2011-15243 Land Land Management Bureau NOTICES Conveyance of Public Lands for Airport Purposes in Clark County, NV; Correction, 35908 C1--2011--12626 Filing of Plats of Survey: Oregon/Washington, 35908 2011-15184 Proposed Reinstatements of Terminated Oil and Gas Leases: Colorado COC64168, 35909 2011-15163 Proposed Withdrawal Extension and Opportunity for Public Meeting, Wyoming;
Correction, 35909 2011-15153 Maritime Maritime Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 35941 2011-15151 Offer for Public Sale of Two High Speed Vessels, 35941-35943 2011-15147 Requested Administrative Waivers of Coastwise Trade Laws, 2011-15143 35943-35946 2011-15144 2011-15145 2011-15148 2011-15149 2011-15150 Mine Mine Safety and Health Administration PROPOSED RULES Examinations of Work Areas in Underground Coal Mines and Pattern of Violations, 35801-35802 2011-15250 National Archives National Archives and Records Administration NOTICES Nixon Presidential Historical Materials;
Opening of Materials, 35918-35919 2011-15390 National Institute National Institutes of Health NOTICES Meetings: Center for Scientific Review, 35900-35901 2011-15289 Eunice Kennedy Shriver National Institute of Child Health and Human Development, 35902 2011-15285 National Institute of General Medical Sciences, 35901 2011-15288 National Institute on Aging, 35901-35902 2011-15287 National Oceanic National Oceanic and Atmospheric Administration RULES Fisheries of the Exclusive Economic Zone Off Alaska:
Bering Sea and Aleutian Islands Crab Rationalization Program, 35772-35786 2011-15324 2011-15284 Listing Endangered and Threatened Species: Threatened Status for Oregon Coast Coho Salmon Evolutionarily Significant Unit, 35755-35771 2011-15080 NOTICES Applications: Endangered Species; File No. 15685, 35842 2011-15315 Endangered and Threatened Species; Take of Anadromous Fish, 35842-35856 2011-15137 Incidental Taking of Marine Mammals: Explosive Removal of Offshore Structures in the Gulf of Mexico, 35856 2011-15309 Meetings:
Caribbean Fishery Management Council, 35857-35858 2011-15109 Fisheries of the South Atlantic; Southeast Data, Assessment, and Review, 35856-35857 2011-15108 National Park National Park Service NOTICES Temporary Concession Contract for Big South Fork National Recreation Area, 35909 2011-15062 Temporary Concession Contract for Blue Ridge Parkway, 35909-35910 2011-15060 National Science National Science Foundation NOTICES Buy American Waivers Under the American Recovery and Reinvestment Act of 2009, 35919-35922 2011-15294 2011-15295 Nuclear Regulatory Nuclear Regulatory Commission NOTICES Interim Staff Guidances:
Environmental Report for Applications to Construct and/or Operate Medical Isotope Production Facilities, 35922 2011-15227 Issuance of Regulatory Guide, 35922-35923 2011-15220 Proposed Model Safety Evaluation for Plant Specific Adoption of Technical Specifications: Revision to Steam Generator Program Inspection Frequencies and Tube Sample Selection, 35923-35924 2011-15225 Occupational Safety Health Adm Occupational Safety and Health Administration NOTICES Susan Harwood Training Grant Program, FY 2011, 35918 2011-15231 Presidential Documents Presidential Documents EXECUTIVE ORDERS SelectUSA Initiative;
Establishment (EO 13577), 35715-35717 2011-15443 ADMINISTRATIVE ORDERS Jerusalem Embassy Act; Suspension of Limitations (Presidential Determination) No. 2011-10 of June 3, 2011, 35713 2011-15439 Libya and Cote d'Ivoire; Unexpected Urgent Refugee and Migration Needs (Presidential Determination) No. 2011-11 of June 8, 2011, 35719 2011-15441 Russian Federation; Continuation of National Emergency (Notice of June 17, 2011), 35953-35956 2011-15591 Securities Securities and Exchange Commission NOTICES Self-Regulatory Organizations;
Proposed Rule Changes: C2 Options Exchange, Inc., 35928-35930 2011-15280 Chicago Board Options Exchange, Inc., 35926-35928 2011-15281 EDGA Exchange, Inc., 35924-35926 2011-15265 Financial Industry Regulatory Authority, Inc., 35933-35934 2011-15173 NASDAQ Stock Market LLC, 35930-35931 2011-15278 National Securities Clearing Corp., 35931-35933 2011-15174 Suspension of Trading Orders: BP International, Inc., et al., 35935 2011-15396 SHC Corp. (f/k/a Victormaxx Technologies), et al., 35934-35935 2011-15392 Small Business Small Business Administration NOTICES Disaster Declarations:
New Mexico, 35935 2011-15139 South Dakota; Amendment 2, 35935-35936 2011-15140 Major Disaster Declarations: Alaska, 35936-35937 2011-15127 Arkansas; Amendment 6, 35937 2011-15135 Illinois, 35936 2011-15126 Kentucky; Amendment 3, 35937-35938 2011-15136 Kentucky; Amendment 6, 35938 2011-15138 New York, 35937 2011-15133 South Dakota; Amendment 3, 35936 2011-15124 State Department State Department NOTICES Specially Designated Global Terrorists: Othman al-Ghamdi, etc., 35938 2011-15290 Surface Transportation Surface Transportation Board NOTICES Abandonment Exemptions:
BNSF Railway Co., Los Angeles County, CA, 35946-35947 2011-15187 Modified Rail Certificates: Maine Northern Railway Co., Aroostook and Penobscot Counties, ME, 35947-35948 2011-15232 Transportation Department Transportation Department See Federal Aviation Administration See Federal Transit Administration See Maritime Administration See Surface Transportation Board NOTICES Applications for Certificates of Public Convenience and Necessity and Foreign Air Carrier Permits, 35938-35939 2011-15203 2011-15206 Treasury Treasury Department See Comptroller of the Currency See Foreign Assets Control Office Customs U.S.
Customs and Border Protection NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Report of Diversion, 35902-35903 2011-15161 Veteran Affairs Veterans Affairs Department NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Civil Rights Discrimination Complaint, 35949 2011-15199 Disability Benefits Questionnaires - Group 3, 35950-35951 2011-15202 Disabled Veterans Application for Vocational Rehabilitation, 35948-35949 2011-15198 Living Will and Durable Power of Attorney for Health Care, 35950 2011-15201 Servicer's Staff Appraisal Reviewer Application, 35949-35950 2011-15200 Separate Parts In This Issue Part II Presidential Documents, 35953-35956 2011-15591 Reader Aids Consult the Reader Aids section at the end of this page for phone numbers, online resources, finding aids, reminders, and notice of recently enacted public laws.
To subscribe to the Federal Register Table of Contents LISTSERV electronic mailing list, go to http://listserv.access.gpo.gov and select Online mailing list archives, FEDREGTOC-L, Join or leave the list (or change settings); then follow the instructions. 76 118 Monday, June 20, 2011 Rules and Regulations FEDERAL RESERVE SYSTEM 12 CFR Part 213 [Regulation M; Docket No. R-1423] Consumer Leasing AGENCY: Board of Governors of the Federal Reserve System. ACTION: Final rule, staff commentary.
SUMMARY: The Board is publishing a final rule amending the staff commentary that interprets the requirements of Regulation M, which implements the Consumer Leasing Act (CLA). Effective July 21, 2011, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amends the CLA by increasing the threshold for exempt consumer leases from $25,000 to $50,000. In addition, the Dodd-Frank Act requires that this threshold be adjusted annually by any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
Accordingly, based on the annual percentage increase in the CPI-W as of June 1, 2011, the Board is adjusting the exemption threshold from $50,000 to $51,800, effective January 1, 2012. Because the Dodd-Frank Act also requires similar adjustments in the Truth in Lending Act's threshold for exempt consumer credit transactions, the Board is making similar amendments to Regulation Z elsewhere in today's **Federal Register.** DATES: This final rule is effective January 1, 2012. FOR FURTHER INFORMATION CONTACT:
Lorna M. Neill, Senior Attorney, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, at
(202)452-3667 or 452-2412; for users of Telecommunications Device for the Deaf
(TDD)only, contact
(202)263-4869. SUPPLEMENTARY INFORMATION: I. Background Effective July 21, 2011, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) increases the threshold in the Consumer Leasing Act
(CLA)for exempt consumer leases from $25,000 to $50,000. Public Law 111-203 § 1100E, 124 Stat. 1376 (2010). In addition, the Dodd-Frank Act requires that this threshold be adjusted annually for inflation by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), as published by the Bureau of Labor Statistics. In April 2011, the Board issued a final rule amending Regulation M (which implements the CLA) consistent with these provisions of the Dodd-Frank Act. 76 FR 18349 (Apr. 4, 2011). As amended, § 213.2(e)(1) of Regulation M provides that the exemption threshold will be adjusted annually effective January 1 of each year based on any annual percentage increase in the CPI-W that was in effect on the preceding June 1. Furthermore, any increase in the threshold amount will be rounded to the nearest $100 increment. For example, if the annual percentage increase in the CPI-W would result in a $950 increase in the threshold amount, the threshold amount will be increased by $1,000. However, if the annual percentage increase in the CPI-W would result in a $949 increase in the threshold amount, the threshold amount will be increased by $900. *See* comment 2(e)-9. II. Adjustment and Commentary Revision Effective January 1, 2012, the adjusted exemption threshold amount is $51,800. This adjustment is based on the CPI-W index in effect on June 1, 2011, which was reported on May 13, 2011. The Bureau of Labor Statistics publishes consumer-based indices monthly, but does not report a CPI change on June 1; adjustments are reported in the middle of the month. The CPI-W is a subset of the CPI-U index (based on all urban consumers) and represents approximately 32 percent of the U.S. population. The adjustment reflects a 3.6 percent increase in the CPI-W from April 2010 to April 2011 and is rounded to the nearest $100 increment. Accordingly, the Board is revising comment 2(e)-9 (as amended effective July 21, 2011) to add a new subparagraph 2(e)-9.iii stating that, from January 1, 2012 through December 31, 2012, the threshold amount is $51,800. This revision is effective January 1, 2012. Under the Administrative Procedures Act, notice and opportunity for public comment are not required if the Board finds that notice and public comment are unnecessary. 5 U.S.C. 553(b)(B). This annual adjustment is required by statute. The amendment in this notice is technical and applies the method previously established in Regulation M for determining any adjustments to the exemption threshold. For these reasons, the Board has determined that publishing a notice of proposed rulemaking and providing opportunity for public comment are unnecessary. Therefore, the amendment is adopted in final form. III. Regulatory Flexibility Analysis The Board certifies that this amendment to Regulation M will not have a significant economic impact on a substantial number of small entities. The only change is to adjust the exemption threshold to reflect any annual percentage increase in the CPI-W. This change is required by statute. In addition, the Board believes that this amendment will not have a significant impact on a substantial number of small entities for the reasons stated in its April 2011 final rule. *See* 76 FR 18349, 18351-52. List of Subjects in 12 CFR Part 213 Advertising, Consumer leasing, Consumer protection, Federal Reserve System, Reporting and recordkeeping requirements. Text of Final Revisions For the reasons set forth in the preamble, the Board amends Regulation M, 12 CFR part 213, as set forth below: PART 213—CONSUMER LEASING (REGULATION M) 1. The authority citation for part 213 continues to read as follows: Authority: 15 U.S.C. 1604 and 1667f; Pub. L. 111-203 § 1100E, 124 Stat. 1376. 2. In Supplement I to Part 213 as amended effective July 21, 2012 in 76 FR18349 (Apr. 4, 2011), under *Section 213.2—Definitions,* under *2(e) Consumer Lease,* paragraph 9.iii is added effective January 1, 2012. The addition reads as follows: Supplement I to Part 213—Official Staff Interpretations Subpart A—General § 213.2—Definitions *2(e) Consumer Lease.* 9. *Threshold amount.* * * * iii. From January 1, 2012 through December 31, 2012, the threshold amount is $51,800. By order of the Board of Governors of the Federal Reserve System, June 13, 2011. Jennifer J. Johnson, Secretary of the Board. [FR Doc. 2011-15180 Filed 6-17-11; 8:45 am]
Connectionstraces to 2
Traces to 2 documents
3 references not yet in our index
- 12 CFR 213
- Pub. L. 111-203
- 124 Stat. 1376
Citation graph
cites case law
Unknown
Final rule, staff commentary
Cite12 CFR 213
Pub. L.Pub. L. 111-203
Stat.124 Stat. 1376
Cites 5Cited by 0 across 0 sources