Unknown. Final rule; official staff interpretation

3,641 words·~17 min read·/register/2011/07/20/2011-18215

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-2011-07-20.xml --- 76 139 Wednesday, July 20, 2011 Contents Agriculture Agriculture Department See Food and Nutrition Service See Forest Service Antitrust Division Antitrust Division NOTICES Notice Pursuant to National Cooperative Research and Production Act of 1993: Advanced Media Workflow Association, Inc., 43347 2011-18026 Cooperative Research Group on Diesel Aftertreatment Accelerated Aging Cycles; Heavy-Duty, 43347-43348 2011-18027 DVD Copy Control Association, 43348 2011-18025 Marine Well Containment Venture, 43348 2011-18024 Network Centric Operations Industry Consortium, Inc., 43347 2011-18022 Open Mobile Alliance, 43346-43347 2011-18023 Coast Guard Coast Guard RULES Drawbridge Operation Regulations:

Cheesequake Creek, Morgan, NJ, 43123-43124 2011-18224 Safety Zones: July Fireworks Displays and Swim Events in Captain of Port New York Zone, 43124-43128 2011-18284 PROPOSED RULES Drawbridge Operation Regulations: Bayou Liberty, Mile 2.0, St. Tammany Parish, Slidell, LA, 43226-43230 2011-18225 Commerce Commerce Department See Foreign-Trade Zones Board See International Trade Administration See National Institute of Standards and Technology See National Oceanic and Atmospheric Administration Commodity Futures Commodity Futures Trading Commission NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 43277-43278 2011-18281 Defense Department Defense Department See Navy Department Defense Nuclear Defense Nuclear Facilities Safety Board NOTICES Privacy Act; Systems of Records, 43278-43286 2011-18227 Department of Transportation See Pipeline and Hazardous Materials Safety Administration Education Education Department NOTICES Meetings: National Assessment Governing Board, 43286-43287 2011-18183 Employment and Training Employment and Training Administration NOTICES Amended Certifications Regarding Eligibility to Apply for Worker Adjustment Assistance:

Dana Structural Manufacturing, LLC and Leased Workers from Manpower Working On-Site; Structures Division, Longview, TX, 43348-43349 2011-18234 General Motors Corp., Renaissance Center, Including On-Site Leased Workers, etc., Detroit, MI, 43349 2011-18237 Certifications of Eligibility to Apply for Worker Adjustment Assistance and Alternative Trade Adjustment Assistance; Investigations, 43349-43350 2011-18235 Eligibility to Apply for Worker Adjustment Assistance and Alternative Trade Adjustment Assistance;

Determinations, 43350-43352 2011-18236 Eligibility to Apply for Worker Adjustment Assistance; Amended Certifications: JLG Industries, Inc., et al.; McConnellsburg, PA; Hagerstown, MD, 43352 2011-18239 Negative Determinations on Reconsiderations: Husqvarna Turf Care, Beatrice, NE, 43352-43353 2011-18238 Terminations of Reconsideration Investigations: JLG Industries, Inc., Access Division, Subsidiary of Oshkosh Corp., Hagerstown, MD, 43353 2011-18240 Energy Department Energy Department See Federal Energy Regulatory Commission See National Nuclear Security Administration See Western Area Power Administration PROPOSED RULES Commercial and Industrial Pumps, 43218 2011-17995 NOTICES Building Energy Standards Program:

Determination Regarding Energy Efficiency Improvements in the Energy Standard for Buildings, Except Low-Rise Residential Buildings, 43287-43298 2011-18251 Preliminary Determination Regarding Energy Efficiency Improvements in the Energy Standard for Buildings, etc., 43298-43318 2011-18082 Environmental Protection Environmental Protection Agency RULES Approvals and Promulgations of Air Quality Implementation Plans: Alabama; Disapproval of Interstate Transport Submission for 2006 24-hour PM2.5 Standards, 43128-43136 2011-17985 California;

Interstate Transport, 43149 C1--2011--14479 Georgia; Disapproval of Interstate Transport Submission for 2006 24-hour PM2.5 Standards, 43159-43167 2011-17998 Kansas; Final Disapproval of Interstate Transport State Implementation Plan Revision, 43143-43149 2011-17741 Kentucky; Disapproval of Interstate Transport Submission for 2006 24-hour PM2.5 Standards, 43136-43143 2011-17996 Missouri; Final Disapproval of Interstate Transport State Implementation Plan Revision, 43156-43159 2011-17740 New Jersey and New York;

Final Disapproval of Interstate Transport State Implementation Plan Revision, 43153-43156 2011-17742 New Mexico; Prevention of Significant Deterioration; Greenhouse Gas Tailoring Rule Revisions, 43149-43153 2011-18125 North Carolina; Disapproval of Interstate Transport Submission for 2006 24-hour PM2.5 Standards, 43167-43175 2011-18000 Approvals and Promulgations of Implementation Plans: California; Regional Haze and Interstate Transport, 43175 C1--2011--14480 Approvals of Air Quality Implementation Plans:

Indiana and Ohio; Disapproval of Interstate Transport State Implementation Plan Revision, 43175-43180 2011-17739 Deferral for CO2 Emissions from Bioenergy and Other Biogenic Sources, etc., 43490-43508 2011-17256 Findings of Failures to Submit Section 110 State Implementation Plans for Interstate Transport: 2006 National Ambient Air Quality Standards for Fine Particulate Matter, 43180-43183 2011-17738 Outer Continental Shelf Air Regulations Consistency Update for Virginia, 43185-43194 2011-18133 Revisions to California State Implementation Plan:

Sacramento Metropolitan Air Quality Management District, 43183-43185 2011-18152 PROPOSED RULES National Pollutant Discharge Elimination Systems: Cooling Water Intake Structures at Existing Facilities and Phase I Facilities, 43230-43231 2011-18407 Outer Continental Shelf Air Regulations Consistency Update for Virginia, 43230 2011-18130 Pesticide Petitions Filed for Residues of Pesticide Chemicals in or on Various Commodities, 43231-43236 2011-18101 NOTICES Certain New Chemicals;

Receipt and Status Information, 43327-43330 2011-18104 Federal Accounting Federal Accounting Standards Advisory Board NOTICES Exposure Draft of Technical Bulletin 2011-2; Availability, 43330 2011-18226 Federal Aviation Federal Aviation Administration RULES Update of August 2001 Overflight Fees, 43112-43119 2011-18285 NOTICES Passenger Facility Charge Approvals and Disapprovals, 43370-43372 2011-17968 Federal Communications Federal Communications Commission RULES Electronic Tariff Filing System, 43206-43217 2011-17778 Implementation of the Truth in Caller ID Act, 43196-43206 2011-18165 Federal Deposit Federal Deposit Insurance Corporation NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 43330-43331 2011-18246 Federal Emergency Federal Emergency Management Agency RULES Changes in Flood Elevation Determinations, 43194-43196 2011-18303 Federal Energy Federal Energy Regulatory Commission NOTICES Combined Filings, 43318-43319 2011-18217 Federal Highway Federal Highway Administration NOTICES Final Federal Agency Actions on Proposed Highways; Limitations on Claims for Judicial Review: Indiana, 43372-43374 2011-18241 Federal Mediation Federal Mediation and Conciliation Service NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals: Labor-Management Relations, 43331 2011-18306 Federal Reserve Federal Reserve System RULES Debit Card Interchange Fees and Routing, 43394-43475, 43478-43488 2011-16860 2011-16861 Truth in Lending, 43111-43112 2011-18215 NOTICES Changes in Bank Control: Acquisitions of Shares of Bank or Bank Holding Company, 43331 2011-18282 Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 43331-43332 2011-18283 Fish Fish and Wildlife Service NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals: Hunting and Fishing Application Forms and Activity Reports for National Wildlife Refuges, 43337-43339 2011-18252 Hunt Fees: Caddo Lake National Wildlife Refuge, TX, 43339-43340 2011-18199 Food and Drug Food and Drug Administration RULES Medical Devices; General and Plastic Surgery Devices: Classification of the Focused Ultrasound Stimulator System for Aesthetic Use, 43119-43121 2011-18278 NOTICES Guidance for Industry and Food and Drug Administration Staff;

Class II Special Controls Guidance Document: Focused Ultrasound Stimulator System for Aesthetic Use, 43332-43333 2011-18280 Food and Nutrition Food and Nutrition Service NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Supplemental Nutrition Assistance Program Employment and Training Program Activity Report, 43253-43254 2011-18229 Child and Adult Care Food Program: National Average Payment Rates, Day Care Home Food Service Payment Rates, and Administrative Reimbursement Rates for Sponsoring Organizations of Day Care Homes for the Period July 1, 2011 through June 30, 2012, 43254-43256 2011-18257 Food Distribution Program:

Value of Donated Foods from July 1, 2011 through June 30, 2012, 43256 2011-18259 National School Lunch, Special Milk, and School Breakfast Programs: National Average Payments/Maximum Reimbursement Rates, 43256-43259 2011-18253 Foreign Trade Foreign-Trade Zones Board NOTICES Applications for Manufacturing Authority: North American Tapes, LLC (Textile Athletic Tape); Foreign-Trade Zone 109 - Watertown, NY, 43259-43260 2011-18301 Applications for Temporary-Interim Manufacturing Authority:

Brevini Wind USA, Inc. (Wind Turbine Gear Boxes); Foreign-Trade Zone 72 - Indianapolis/Yorktown, IN, 43260 2011-18300 Forest Forest Service NOTICES Meetings: Lyon-Mineral Resource Advisory Committee, 43259 2011-18233 Southern Montana Resource Advisory Committee, 43259 2011-18368 General Services General Services Administration PROPOSED RULES Federal Travel Regulations: Temporary Duty Travel Allowances, 43236-43237 2011-18305 Health and Human Health and Human Services Department See Food and Drug Administration See National Institutes of Health PROPOSED RULES Patient Protection and Affordable Care Act:

Establishment of Consumer Operated and Oriented Plan Program, 43237-43250 2011-18342 NOTICES Meetings: Advisory Committee on Interdisciplinary, Community-Based Linkages, 43332 2011-18254 Homeland Homeland Security Department See Coast Guard See Federal Emergency Management Agency See U.S. Citizenship and Immigration Services Housing Housing and Urban Development Department PROPOSED RULES Public Housing: Physical Needs Assessment, 43219-43225 2011-18046 NOTICES Delegations Of Authority:

Office of Public Affairs, 43336-43337 2011-18159 Orders Of Succession: Office of Public Affairs, 43337 2011-18160 Interior Interior Department See Fish and Wildlife Service See Land Management Bureau See National Park Service Internal Revenue Internal Revenue Service RULES Highway Use Tax: Filing and Payment for Taxable Period Beginning July 1, 2011, 43121-43123 2011-18244 PROPOSED RULES Highway Use Tax: Filing and Payment for Taxable Period Beginning July 1, 2011, 43225-43226 2011-18250 NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 43380-43385 2011-18249 2011-18255 2011-18260 2011-18263 2011-18264 2011-18265 2011-18266 2011-18268 2011-18269 International Trade Adm International Trade Administration NOTICES Antidumping Duty Administrative Reviews; Extensions of Time Limits for Preliminary Results: Freshwater Crawfish Tail Meat from People's Republic of China, 43260-43261 2011-18302 Antidumping Duty Administrative Reviews; Rescissions: Certain Preserved Mushrooms from India, 43261-43262 2011-18294 Tapered Roller Bearings and Parts Thereof, Finished and Unfinished, from People's Republic of China, 43262-43263 2011-18293 Antidumping Duty New Shipper Reviews;

Extensions of Preliminary Results: Uncovered Innerspring Units from People's Republic of China, 43263 2011-18304 Applications for Duty-Free Entry of Scientific Instruments, 43263-43264 2011-18298 Applications for Duty-Free Entry of Scientific Instruments; Decisions: University of Chicago Argonne, LLC, et al., 43264 2011-18295 Wichita State University, et al., 43264 2011-18296 International Trade Com International Trade Commission NOTICES Antidumping Duty Investigations and Preliminary Phase Investigations:

Large Power Transformers from Korea, 43343 2011-18157 Antidumping Duty Orders; Full Five-Year Reviews: Certain Orange Juice from Brazil, 43344-43345 2011-18201 Investigations: Certain Electric Fireplaces, Components Thereof, Manuals for Same, etc., 43345-43346 2011-18216 Justice Department Justice Department See Antitrust Division NOTICES Lodgings of Consent Decrees under Clean Air Act, 43346 2011-18208 Labor Department Labor Department See Employment and Training Administration Land Land Management Bureau NOTICES Alaska Native Claims Selection;

Decisions Approving Lands for Conveyance, 2011-18164 43340-43341 2011-18272 Filings of Plats of Surveys: Oregon/Washington, 43341 2011-18245 Record of Decisions; Availability: West Butte Wind Power Right-of-Way, Crook and Deschutes Counties, OR, 43341-43342 2011-18275 National Archives National Archives and Records Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 43353-43354 2011-18410 Records Schedules, 43354-43355 2011-18411 National Capital National Capital Planning Commission NOTICES Meetings:

Draft Revisions to Transportation and Federal Workplace Elements of Comprehensive Plan for National Capital, 43355-43356 2011-18032 National Institute National Institute of Standards and Technology NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Evacuation Movement and Behavior Questionnaire, 43265 2011-18190 MEP Client Impact Survey, 43264-43265 2011-18189 National Institute National Institutes of Health NOTICES Meetings: Center for Scientific Review, 43335 2011-18289 Eunice Kennedy Shriver National Institute of Child Health and Human Development, 43334 2011-18297 2011-18299 Eunice Kennedy Shriver National Institute of Child Health and Human Development, 43334 2011-18288 National Institute of General Medical Sciences, 43334-43335 2011-18291 National Institute of Neurological Disorders and Stroke, 43333-43334 2011-18286 National Nuclear National Nuclear Security Administration NOTICES Records Of Decisions:

Continued Operation of Y-12 National Security Complex, 43319-43324 2011-18312 National Oceanic National Oceanic and Atmospheric Administration PROPOSED RULES Fisheries of Caribbean, Gulf of Mexico, and South Atlantic: Stone Crab Fishery of Gulf of Mexico; Removal of Regulations, 43250-43252 2011-18318 NOTICES Marine Mammals; Applications: File No. 16472, 43266 2011-18326 Meetings: New England Fishery Management Council, 43266-43267 2011-18277 Takes of Marine Mammals Incidental to Specified Activities:

Air-to-Surface Gunnery Missions in Gulf of Mexico, 43267-43277 2011-18324 National Park National Park Service NOTICES National Register of Historic Places; Nominations and Related Actions, 43342-43343 2011-18228 Navy Navy Department NOTICES Environmental Impact Statements; Availability, etc.: Availability of Record of Decision for Keyport Range Complex Extension, 43278 2011-18232 Nuclear Regulatory Nuclear Regulatory Commission NOTICES Evaluations of Explosions Postulated to Occur at Nearby Facilities and on Transportation Routes Near Nuclear Power Plants, 43356-43357 2011-18270 Pipeline Pipeline and Hazardous Materials Safety Administration RULES Hazardous Materials;

Miscellaneous Amendments, 43510-43532 2011-17687 Securities Securities and Exchange Commission NOTICES Self-Regulatory Organizations; Proposed Rule Changes: Chicago Board Options Exchange, Inc., 43359-43360 2011-18222 Financial Industry Regulatory Authority, Inc., 43360-43363 2011-18221 NASDAQ OMX BX, Inc., 43363-43364 2011-18220 NASDAQ Stock Market LLC, 43364-43366 2011-18219 New York Stock Exchange LLC, 43366-43368 2011-18195 NYSE Amex LLC, 43357-43359 2011-18194 Small Business Small Business Administration NOTICES Major Disaster Declarations:

Mississippi, 43368 2011-18256 North Dakota; Amendment 2, 43368 2011-18258 Social Social Security Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 43368-43369 2011-18247 State Department State Department NOTICES Waivers of Restrictions on Assistance: Central Government of Kyrgyzstan, 43369 2011-18287 Central Government of Turkmenistan, 43369 2011-18292 Surface Transportation Surface Transportation Board NOTICES Abandonment Exemptions:

CSX Transportation, Inc., Hardin County, OH, 43374 2011-18162 Thrift Supervision Thrift Supervision Office NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Lending and Investment, 43385-43386 2011-18313 Transportation Department Transportation Department See Federal Aviation Administration See Federal Highway Administration See Pipeline and Hazardous Materials Safety Administration See Surface Transportation Board Treasury Treasury Department See Internal Revenue Service See Thrift Supervision Office NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 43374-43375 2011-18188 Temporary Exemptions from Certain Government Securities Act Provisions and Regulations: ICE Clear Credit LLC, 43376-43380 2011-18307 U.S. Citizenship U.S. Citizenship and Immigration Services NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Alien's Change of Address Card, 43336 2011-18273 Application for Employment Authorization, 43335-43336 2011-18271 Veteran Affairs Veterans Affairs Department NOTICES Privacy Act;

Systems of Records, 43386-43391 2011-18315 Western Western Area Power Administration NOTICES Environmental Impact Statements; Availability, etc.: Proposed Wilton IV Wind Energy Center Project, North Dakota, 43324-43327 2011-17997 Separate Parts In This Issue Part II Federal Reserve System, 43394-43475 2011-16861 Part III Federal Reserve System, 43478-43488 2011-16860 Part IV Environmental Protection Agency, 43490-43508 2011-17256 Part V Transportation Department, Pipeline and Hazardous Materials Safety Administration, 43510-43532 2011-17687 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. 76 139 Wednesday, July 20, 2011 Rules and Regulations FEDERAL RESERVE SYSTEM [Docket No. R-1366] 12 CFR Part 226 Regulation Z; Truth in Lending AGENCY: Board of Governors of the Federal Reserve System (Board). ACTION: Final rule; official staff interpretation.

SUMMARY: The Board is publishing final revisions to the official staff commentary to Regulation Z, which implements the Truth in Lending Act (TILA). The commentary applies and interprets the requirements of Regulation Z. The Board is revising the commentary so that it accurately reflects the effective date of a final rule on loan originator compensation practices that was published in the **Federal Register** on September 24, 2010. At the time the final rule on loan originator compensation was issued, the Board intended it to become effective on April 1, 2011.

However, on March 31, 2011, the United States Court of Appeals for the District of Columbia Circuit entered an administrative stay to temporarily delay implementation of the final rule. The administrative stay was in effect from April 1, 2011, until it was dissolved on April 5, 2011. Accordingly, the commentary is being revised to reflect that compliance with the final rule on loan originator compensation was not mandatory until April 6, 2011. DATES: *Effective Date:* This final rule is effective July 20, 2011.

FOR FURTHER INFORMATION CONTACT: Lorna Neill or Nikita Pastor, Senior Attorneys,

(202)452-3667, Board of Governors of the Federal Reserve System, Division of Consumer and Community Affairs, 20th and C Streets, NW., Washington, DC 20551. For users of a Telecommunications Device for the Deaf

(TDD)only, contact

(202)263-4869. SUPPLEMENTARY INFORMATION: I. Background Congress enacted the Truth in Lending Act (TILA; 15 U.S.C. 1601 *et seq.* ) based on findings that economic stability would be enhanced and competition among consumer credit providers would be strengthen by the informed use of credit resulting from consumers' awareness of the cost of credit. TILA directs the Board to prescribe regulations to carry out its purposes. *See* 15 U.S.C. 1604(a). In 1994, TILA was amended by the Home Ownership and Equity Protection Act (HOEPA). Among other things, HOEPA directs the Board to prohibit, by regulation or order, acts or practices in connection with mortgage loans that the Board finds to be unfair or deceptive. *See* 15 U.S.C. 1639(l)(2). TILA is implemented by the Board's Regulation Z (12 CFR part 226). The Board's official staff commentary interprets the regulation, and provides guidance to creditors in applying the regulation to specific transactions. *See* 12 CFR part 226 (Supp. I). Good faith compliance with the commentary affords protection from liability pursuant to section 130(f) of TILA (15 U.S.C. 1640(f)). The commentary is a substitute for individual staff interpretations; it is updated periodically to address significant questions that arise. On September 24, 2010, the Board published a final rule amending Regulation Z to prohibit certain practices related to mortgage loan originator compensation (the September 2010 final rule). *See* 75 FR 58509, Sept. 24, 2010. The purpose of the final rule is to protect consumers in the mortgage market from unfair or abusive practices that can arise from certain loan originator compensation practices, while preserving responsible lending and sustainable homeownership. The September 2010 final rule prohibits payments to loan originators (which include mortgage brokers and loan officers) based on the terms or conditions of the transaction other than the amount of credit extended. The rule also prohibits any person other than the consumer from paying compensation to a loan originator in a transaction where the consumer pays the loan originator directly. Under the September 2010 final rule, loan originators are prohibited from steering consumers to consummate a loan not in their interest based on the fact that the loan originator will receive greater compensation for that loan. II. Summary of the Revisions At the time the September 2010 final rule on loan originator compensation was issued, it had an effective date of April 1, 2011. The commentary accompanying the final rule clarified that it would apply to closed-end transactions secured by a dwelling where the creditor receives a loan application on or after April 1, 2011. *See* comment 36-2. However, on March 31, 2011, the United States Court of Appeals for the District of Columbia Circuit issued an administrative stay to temporarily delay implementation of the September 2010 final rule. (Case No. 11-5078). Consequently, compliance with the final rule on loan originator compensation was not mandatory on April 1, 2011, as originally intended. That administrative stay was dissolved by the Court on April 5, 2011. 1 1 The administrative stay was issued in connection with two lawsuits, filed by organizations representing mortgage loan originators, challenging the Board's authority to issue the September 2010 final rule. Both lawsuits were subsequently dismissed. Accordingly, the Board is revising the commentary so that it conforms to the Court's administrative stay. Based on the Court's order, during the period from April 1, 2011 to April 5, 2011, compliance with the September 2010 final rule on loan originator compensation was not required. Comment 36-2 is revised based on the fact that the mandatory compliance date was April 6, 2011. The example in comment 36-2 has also been revised to conform to the Court's order. III. Authority To Issue Final Rule That Is Effective Immediately Without Notice and Comment The Administrative Procedures Act (APA), 5 U.S.C. 551 *et seq.,* generally requires public notice before promulgation of regulations. *See* 5 U.S.C. 553(b). Unless public notice or a hearing is specifically required by statute, however, the APA also provides exceptions “for interpretative rules” and “when the agency for good cause finds (and incorporates the finding and a brief statement of reasons therefore in the rules issued) that notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest.” 5 U.S.C. 553(b)(A) and (B). The APA also requires that rules generally be published not less than 30 days before their effective date. *See* 5 U.S.C. 553(d). As with the notice and comment requirement, however, the APA provides an exception when “otherwise provided by the agency for good cause found and published with the rule.” 5 U.S.C. 553(d)(3). TILA does not require Board to provide notice or a hearing with respect to this rulemaking. *See* TILA Section 105(a), 15 U.S.C. 1604(a). The revisions made to the commentary by this final rule are interpretative and merely explain that the April 1, 2011, mandatory compliance date that was specified in September 2010 was subsequently changed as a result of the Court's issuance of a temporary administrative stay. The Board finds that there is good cause to conclude that providing notice and an opportunity to comment before issuing this final rule is unnecessary and that there is good cause for the final rule to be effective immediately. The change that is noted in this final rule has already occurred as a result of the Court's prior order. The final rule merely makes conforming changes so that the commentary accurately reflects the effect that the Court's order had on mandatory compliance date. List of Subjects in 12 CFR Part 226 Advertising, Consumer protection, Federal Reserve System, Mortgages, Reporting and recordkeeping requirements, Truth in lending. Text of Final Revisions For the reasons set forth in the preamble, the Board amends Regulation Z, 12 CFR part 226, as set forth below: PART 226—TRUTH IN LENDING (REGULATION Z) 1. The authority citation for part 226 continues to read as follows: Authority: 12 U.S.C. 3806; 15 U.S.C. 1604, 1637(c)(5), and 1639(l); Pub. L. 111-24 § 2, 123 Stat. 1734; Pub. L. 111-203, 124 Stat. 1376. 2. In Supplement I to part 226, in Subpart E, under *Section 226.36—Prohibited Acts or Practices in Connection With Credit Secured by a Dwelling,* revise paragraph 2 to read as follows: Supplement I To Part 226—Official Staff Interpretations Subpart E—Special Rules for Certain Home Mortgage Transactions Section 226.36—Prohibited Acts or Practices in Connection with Credit Secured by a Dwelling 2. *Mandatory compliance date for §§ 226.36(d) and (e).* The final rules on loan originator compensation in § 226.36 apply to transactions for which the creditor receives an application on or after the effective date. For example, assume a mortgage broker takes an application on March 10, 2011, which the creditor receives on March 25, 2011. This transaction is not covered. If, however, the creditor does not receive the application until April 8, 2011, the transaction is covered. By order of the Board of Governors of the Federal Reserve System, acting through the Director of the Division of Consumer and Community Affairs under delegated authority, July 14, 2011. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. 2011-18215 Filed 7-19-11; 8:45 am]

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