Unknown. Compliance bulletin and policy guidance

3,743 words·~17 min read·/register/2021/04/07/2021-07098

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-2021-04-07.xml --- 86 65 Wednesday, April 7, 2021 Contents AIRFORCE Air Force Department NOTICES Environmental Impact Statements; Availability, etc.: Record of Decision for the F-35A Wing Beddown and MQ-9 Wing Beddown, 18044 2021-07121 Intent to Grant an Exclusive Patent License with a Joint Ownership Agreement, 18044 2021-07123 Consumer Financial Protection Bureau of Consumer Financial Protection RULES Supervision and Enforcement Priorities Regarding Housing Insecurity, 17897-17899 2021-07098 NOTICES Privacy Act;

System of Records, 18041-18043 2021-07091 Centers Disease Centers for Disease Control and Prevention NOTICES Meetings, 18061 2021-07162 Civil Rights Civil Rights Commission NOTICES Meetings: South Carolina Advisory Committee, 18035 2021-07110 Commerce Commerce Department See International Trade Administration See National Oceanic and Atmospheric Administration Community Living Administration Community Living Administration NOTICES Program Application Instructions: State Councils on Developmental Disabilities to Expand COVID-19 Vaccine Access for People with Disabilities, 18063-18065 2021-07126 University Centers for Excellence in Developmental Disabilities Network to Expand COVID-19 Vaccine Access for People with Disabilities, 18061-18063 2021-07128 Comptroller Comptroller of the Currency NOTICES Meetings:

Mutual Savings Association Advisory Committee, 18122 2021-07122 Defense Department Defense Department See Air Force Department Education Department Education Department NOTICES Applications for New Awards: Alaska Native Education Program; Corrections, 18045-18046 2021-07154 Supplemental Assistance to Institutions of Higher Education; Correction, 18044-18045 2021-07099 Coronavirus Response and Relief Supplemental Appropriations Act Supplemental Aid to Institutions of Higher Education Application:

Correction, 18045 2021-07113 Energy Department Energy Department See Federal Energy Regulatory Commission NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 18046 2021-07132 Emergency Order: Electric Reliability Council of Texas to Operate Power Generating Facilities under Limited Circumstances in Texas as a Result of Extreme Weather, 18046-18047 2021-07136 Environmental Protection Environmental Protection Agency RULES Pesticide Tolerances:

Penthiopyrad, 17917-17920 2021-07129 Spinetoram, 17907-17910 2021-07186 Spinosad, 17910-17914 2021-07185 Tolerance Exemption: 2,2-Dimethyl-1,3-dioxolane-4-methanol, 17914-17917 2021-07028 NOTICES Administrative Settlement Agreement: CERCLA, 18060 2021-07138 Privacy Act; System of Records, 18057-18060 2021-07097 Requests for Nominations: National Environmental Education Advisory Council, 18056-18057 2021-06652 Federal Aviation Federal Aviation Administration RULES Airworthiness Directives:

MHI RJ Aviation ULC (Type Certificate Previously Held by Bombardier, Inc.) Airplanes, 17905-17907 2021-07013 Rockwell Collins, Inc., Global Positioning Systems, 17902-17905 2021-07015 The Boeing Company Airplanes, 17899-17902 2021-07034 PROPOSED RULES Airworthiness Directives: Airbus SAS Airplanes, 17995-17998 2021-07090 MHI RJ Aviation ULC (Type Certificate Previously Held by Bombardier, Inc.) Airplanes, 17998-18000 2021-07050 The Boeing Company Airplanes, 17993-17995 2021-07164 NOTICES Meetings:

Research, Engineering, and Development Advisory Committee, 18111 2021-07095 Federal Communications Federal Communications Commission RULES Establishing the Digital Opportunity Data Collection: Modernizing the Form 477 Data Program, 18124-18163 2021-04998 Facilitating Shared Use in the 3100-3550 MHz Band, 17920-17956 2021-06546 PROPOSED RULES Auction of Flexible-Use Service Licenses in the 3.45-3.55 GHz Band for Next-Generation Wireless Services; Competitive Bidding Procedures for Auction 110, 18000-18014 2021-06545 Federal Emergency Federal Emergency Management Agency NOTICES Flood Hazard Determinations;

Changes, 18065-18067 C1-2021-04981 Flood Hazard Determinations; Proposals, 18067-18068 C1-2021-04143 Federal Energy Federal Energy Regulatory Commission NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 18049-18051 2021-07107 Combined Filings, 18047-18049, 18052-18053, 18055 2021-07105 2021-07112 2021-07156 2021-07157 Complaint: Jackson Generation, LLC v. PJM Interconnection, LLC, 18051 2021-07159 Initial Market-Based Rate Filings Including Requests for Blanket Section 204 Authorizations:

Cool Springs Solar, LLC, 18051-18052 2021-07106 Quitman II Solar, LLC, 18054 2021-07104 Meetings: The Office of Public Participation; Virtual Listening Sessions, 18053-18054 2021-07108 Petition for Declaratory Order: Transcontinental Gas Pipe Line Co., LLC, 18054-18055 2021-07109 Waiver Period for Water Quality Certification Application: Washington Electric Cooperative, Inc., 18056 2021-07158 Federal Maritime Federal Maritime Commission NOTICES Agreements Filed, 18060 2021-07153 Federal Motor Federal Motor Carrier Safety Administration NOTICES Parts and Accessories Necessary for Safe Operation;

Exemption Applications: Loomis Armored US, LLC, 18111-18112 2021-07102 Federal Railroad Federal Railroad Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 18112-18114 2021-07182 Federal Reserve Federal Reserve System NOTICES Change in Bank Control: Acquisitions of Shares of a Bank or Bank Holding Company, 18060-18061 2021-07160 Fish Fish and Wildlife Service RULES Endangered and Threatened Species: Designation of Critical Habitat for Candy Darter, 17956-17992 2021-06748 PROPOSED RULES Endangered and Threatened Species: 12-Month Petition Finding and Threatened Species Status with Section 4(d) Rule for Suwannee Alligator Snapping Turtle, 18014-18034 2021-06946 Health and Human Health and Human Services Department See Centers for Disease Control and Prevention See Community Living Administration See National Institutes of Health Homeland Homeland Security Department See Federal Emergency Management Agency See U.S.

Citizenship and Immigration Services NOTICES Meetings: President's National Security Telecommunications Advisory Committee, 18068-18069 2021-07135 Interior Interior Department See Fish and Wildlife Service See National Park Service See Office of Natural Resources Revenue International Trade Adm International Trade Administration NOTICES Antidumping or Countervailing Duty Investigations, Orders, or Reviews: Light-Walled Rectangular Pipe and Tube from Turkey, 18035-18037 2021-07171 Phosphate Fertilizers from the Kingdom of Morocco and the Russian Federation, 18037-18039 2021-07170 Justice Department Justice Department NOTICES Proposed Consent Decree:

CERCLA, 18072-18073 2021-07183 Clean Air Act, 18073 2021-07134 Labor Department Labor Department See Occupational Safety and Health Administration Maritime Maritime Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Application and Reporting Requirements for Participation in the Maritime Security Program, 18116-18117 2021-07140 Application for Construction Reserve Fund and Annual Statements, 18114 2021-07141 Center of Excellence for Domestic Maritime Workforce Training and Education Annual Application for Designation, 18115 2021-07142 Request for Waiver of Service Obligation, Request for Deferment of Service Obligation, and Application for Review, 18115-18116 2021-07143 National Institute National Institutes of Health NOTICES Charter Renewal:

Center for Scientific Review Advisory Council, 18065 2021-07103 Meetings: Center for Scientific Review, 18065 2021-07111 National Oceanic National Oceanic and Atmospheric Administration NOTICES Meetings: Advisory Committee to the U.S. Section to the International Commission for the Conservation of Atlantic Tunas' Species Working Groups, 18039-18040 2021-07180 Fisheries of the Gulf of Mexico; Southeast Data, Assessment, and Review, 18040-18041 2021-07149 Fisheries of the South Atlantic;

Southeast Data, Assessment, and Review, 18039 2021-07148 Mid-Atlantic Fishery Management Council, 18041 2021-07150 Pacific Fishery Management Council, 18040 2021-07151 National Park National Park Service NOTICES Minor Boundary Revision at San Antonio Missions National Historical Park, 18070-18071 2021-07101 Nuclear Regulatory Nuclear Regulatory Commission NOTICES Environmental Assessments; Availability, etc.: Southern Nuclear Operating Company, Inc Vogtle Electric Generating Plant, Units 1 and 2, 18076-18080 2021-07172 Exemption;

Issuance: Pacific Gas and Electric Co., Diablo Canyon Nuclear Power Plant, Units 1 and 2, 18081-18082 2021-07130 Meetings: Advisory Committee on Reactor Safeguards, 18080-18081 2021-07177 Occupational Safety Health Adm Occupational Safety and Health Administration NOTICES Application: SGS North America, Inc.; Expansion of Recognition and Proposed Modification to the Nationally Recognized Testing Laboratory Program's List of Appropriate Test Standards, 18073-18076 2021-07131 Withdrawal of Application for Variance and Revocation of Interim Order:

Ballard Marine Construction, 18073 2021-07133 Natural Resources Office of Natural Resources Revenue NOTICES Major Portion Prices and Due Date: Additional Royalty Payments on Gas Produced from Indian Lands in Designated Areas That are Not Associated with an Index Zone, 18072 2021-07092 Personnel Personnel Management Office NOTICES Migration to a New Financial System, 18082 2021-06878 Pipeline Pipeline and Hazardous Materials Safety Administration NOTICES Hazardous Materials: Actions on Special Permits, 18118-18120 2021-07145 Applications for Modifications to Special Permit, 18121 2021-07139 Applications for New Special Permits, 18120-18121 2021-07144 Meetings:

Pipeline Safety: Pipeline Leak Detection, Leak Repair, and Methane Emission Reductions, 18117-18118 2021-07152 Presidential Documents Presidential Documents PROCLAMATIONS Special Observances: Days of Remembrance of Victims of the Holocaust (Proc. 10173), 18165-18168 2021-07289 Honoring U.S. Capitol Police Officers (Proc. 10174), 18169 2021-07293 World Autism Awareness Day (Proc. 10172), 17893-17894 2021-07238 EXECUTIVE ORDERS International Criminal Court; Termination of Emergency (EO 14022), 17895-17896 2021-07239 Securities Securities and Exchange Commission NOTICES Self-Regulatory Organizations;

Proposed Rule Changes: Cboe BZX Exchange, Inc., 18099-18105 2021-07116 Cboe Exchange, Inc., 18090-18095 2021-07117 ICE Clear Credit, LLC, 18087-18090 2021-07115 MEMX, LLC, 18082-18084 2021-07118 Nasdaq BX, Inc., 18095-18099 2021-07119 Nasdaq PHLX, LLC, 18105-18109 2021-07120 New York Stock Exchange, LLC, 18084-18087 2021-07114 Small Business Small Business Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 18109-18110 2021-07096 Major Disaster Declaration:

Kentucky; Public Assistance Only, 18109 2021-07100 State Department State Department NOTICES Charter Renewal: Title VIII Advisory Committee, 18110 2021-07155 Sanctions Actions, 18110-18111 2021-07048 Transportation Department Transportation Department See Federal Aviation Administration See Federal Motor Carrier Safety Administration See Federal Railroad Administration See Maritime Administration See Pipeline and Hazardous Materials Safety Administration Treasury Treasury Department See Comptroller of the Currency U.S.

Citizenship U.S. Citizenship and Immigration Services NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Qualitative Feedback through Focus Groups, 18069-18070 2021-07163 Veteran Affairs Veterans Affairs Department NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Certification of Training Hours, Wages, and Progress, 18122 2021-07174 Separate Parts In This Issue Part II Federal Communications Commission, 18124-18163 2021-04998 Part III Presidential Documents, 18165-18169 2021-07289 2021-07293 Reader Aids Consult the Reader Aids section at the end of this issue for phone numbers, online resources, finding aids, and notice of recently enacted public laws.

To subscribe to the Federal Register Table of Contents electronic mailing list, go to https://public.govdelivery.com/accounts/USGPOOFR/subscriber/new, enter your e-mail address, then follow the instructions to join, leave, or manage your subscription. 86 65 Wednesday, April 7, 2021 Rules and Regulations BUREAU OF CONSUMER FINANCIAL PROTECTION 12 CFR Part 1024 Bulletin 2021-02: Supervision and Enforcement Priorities Regarding Housing Insecurity AGENCY: Bureau of Consumer Financial Protection.

ACTION: Compliance bulletin and policy guidance. SUMMARY: The Bureau of Consumer Financial Protection (Bureau) is issuing this Compliance Bulletin and Policy Guidance (Bulletin) on Supervision and Enforcement priorities regarding housing insecurity in light of heightened risks to consumers needing loss mitigation assistance in the coming months as the COVID-19 foreclosure moratoriums and forbearances end. Consequently, the Bureau will be paying particular attention to how mortgage servicers respond to borrower requests for loss mitigation assistance and process loss mitigation applications.

The Bureau urges servicers to dedicate sufficient resources and staff to ensure they can communicate clearly with borrowers, effectively manage borrower requests for assistance, promote loss mitigation, and ultimately reduce avoidable foreclosures and foreclosure-related costs. Accordingly, the Bureau intends to consider a servicer's overall effectiveness at achieving such goals, along with other relevant factors, in using its discretion to address violations of Federal consumer financial law in supervisory and enforcement matters.

The Bureau recognizes that some homeowners will not be able to resume making payments on their mortgages and that some foreclosures are unavoidable; nonetheless, the Bureau will hold mortgage servicers accountable for complying with Regulation X with the aim of ensuring that homeowners have the opportunity to be evaluated for loss mitigation prior to the initiation of foreclosure. DATES: This bulletin is applicable on April 7, 2021. FOR FURTHER INFORMATION CONTACT: Allison Brown, Deputy Assistant Director, Office of Supervision Policy, Division of Supervision, Enforcement, and Fair Lending, at

(202)435-7107, or James Savage, Senior Counsel, Office of Enforcement, at

(202)734-2777. If you require this document in an alternative electronic format, please contact *CFPB_Accessibility@cfpb.gov.* SUPPLEMENTARY INFORMATION: I. Background Mortgage servicers play a vital role in assisting borrowers when they face challenges in paying their mortgages. The Bureau is committed to using its authorities, including its authority under Regulation X mortgage servicing requirements and under the Consumer Financial Protection Act (CFPA), to ensure that homeowners facing the ongoing economic impact of the Coronavirus Disease (COVID-19) national emergency receive the benefits of critical legal protections and that avoidable foreclosures are avoided. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law. 1 Among other things, the CARES Act provides borrowers with “Federally backed mortgage loans” with access to forbearance options regardless of whether they are delinquent. 2 The Bureau understands from its market monitoring that many private investors have also provided forbearances on similar terms to those provided by servicers of federally backed loans. 1 Coronavirus Aid, Relief, and Economic Security Act, Public Law 116-136, 134 Stat. 281 (Mar. 27, 2020). 2 The CARES Act defines a “Federally backed mortgage loan” as any loan which is secured by a first or subordinate lien on residential real property (including individual units of condominiums and cooperatives) designed principally for the occupancy of from one-to-four families that is insured by the Federal Housing Administration under title II of the National Housing Act (12 U.S.C. 1707 *et seq.* ); insured under section 255 of the National Housing Act (12 U.S.C. 1715z-20); guaranteed under section 184 or 184A of the Housing and Community Development Act of 1992 (12 U.S.C. 1715z-13a, 1715z-13b); guaranteed or insured by the Department of Veterans Affairs; guaranteed or insured by the Department of Agriculture; made by the Department of Agriculture; or purchased or securitized by the Federal Home Loan Mortgage Corporation or the Federal National Mortgage Association. CARES Act, Public Law 116-136, section 4022(a)(2). Since the CARES Act was enacted, 6.9 million borrowers have entered a forbearance program. As of January 2021, more than 2.1 million borrowers in forbearance programs were more than 90 days behind on their mortgage payments (including borrowers who have forborne three or more payments), and they could still be experiencing severe hardships when their payments are to resume. 3 Black and Hispanic homeowners were more than two times as likely to be behind on housing payments as of December 2020. 4 3 Bureau of Consumer Fin. Prot., *Housing insecurity and the COVID-19 pandemic* (March 2021), *https://files.consumerfinance.gov/f/documents/cfpb_Housing_insecurity_and_the_COVID-19_pandemic.pdf.* 4 *Id.* Of the borrowers not in forbearance programs, as of January 2021, around 242,000 were 90 days or more delinquent. Both populations of delinquent borrowers are at heightened risk of referral to foreclosure soon after the foreclosure moratoria end if they do not resolve their delinquency or reach a loss mitigation agreement with their servicer. If borrowers who are currently in an eligible forbearance program request an extension to the maximum time offered by the government agencies, those loans that were placed in a forbearance program early in the pandemic (March and April 2020) will reach the end of their forbearance period in September and October of 2021. Black Knight data suggests there could be just under 1.7 million borrowers still in forbearance in September 2021, with roughly 800,000 borrowers exiting their forbearance programs after 18 months of forborne payments in September and October of 2021. 5 5 Black Knight Mortg. Monitor, January 2021 Report at 9 (Jan. 2021), *https://cdn.blackknightinc.com/wp-content/uploads/2021/03/BKI_MM_Jan2021_Report.pdf* (Black Jan. 2021 Report). It is unclear how many borrowers in a forbearance program will exit forbearance at 12 months rather than exercising any additional extensions. Borrowers facing more permanent hardships will likely need to apply for loss mitigation options as the end of the forbearances periods approach. 6 Therefore, as consumers approach the end of forbearance periods in the coming months, the Bureau expects an extraordinarily high volume of loans needing loss mitigation assistance at relatively the same time. During this period in which there may be large increases in requests for loss mitigation assistance, the Bureau is specifically concerned that some borrowers may not be receiving effective communication from servicers and that some borrowers may be at risk of not having their loss mitigation applications adequately processed. 6 Mortgage Market COVID 19 Collaborative: Forbearance and Delinquency Among Agency Mortgage Loans, Housing Finance Policy Center, Urban Institute (March 2021). In the wake of the COVID-19 pandemic, the Bureau has taken numerous steps to protect and assist mortgage borrowers. The Bureau has created and disseminated extensive consumer education resources in coordination with Federal agencies and State regulators. The Bureau plans to use all of its tools, including consumer and industry outreach and regulatory initiatives, to protect homeowners and assist those mortgage servicers who are also working to reduce avoidable foreclosures. The Bureau recognizes that mortgage servicers have also experienced challenges as a result of the pandemic and intends to support servicers in their efforts to provide timely assistance to mortgage borrowers. II. Supervision and Enforcement Priorities The Bureau plans to monitor servicers' engagement with borrowers at all stages in the process in the coming months and prioritize mortgage servicing oversight work in deploying its enforcement and supervision resources in the coming year. The Bureau expects servicers to plan for the expected increase in loans exiting forbearance programs and related loss mitigation applications, as well as applications by borrowers who are delinquent but not in forbearance. The Bureau expects servicers to resource those activities appropriately and urges servicers to dedicate sufficient resources and staff to ensure they can communicate clearly with borrowers, effectively manage borrower requests for assistance, and thereby reduce foreclosures. Accordingly, the Bureau intends to look at a servicer's overall effectiveness at helping consumers manage loss mitigation, along with other relevant factors, when using its discretion to address violations of Federal consumer financial law in supervisory and enforcement matters. On the other hand, consistent with the flexibilities announced in the April 3, 2020 joint statement, companies that are unable to adequately manage loss mitigation can expect the Bureau to take enforcement or supervisory action to address violations under its Regulation X, CFPA, or other authorities. 7 7 See Bureau of Consumer Fin. Prot., Joint Statement on Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to the COVID-19 Emergency and the CARES Act, *available at https://files.consumerfinance.gov/f/documents/cfpb_interagency-statement_mortgage-servicing-rules-covid-19.pdf.* In its oversight work, the Bureau plans to pay particular attention to: 1. Whether servicers are providing clear and readily understandable information to borrowers about their options for payment assistance; 2. Whether servicers are complying with the outreach requirements in Regulation X to ensure that borrowers are getting needed information about loss mitigation options, including: • For borrowers who request further assistance, whether servicers are promptly resuming reasonable diligence in obtaining documents and information to complete loss mitigation applications; 7 7 *See* Regulation X, 12 CFR 1024.41(c)(2)(iii); comments 41(b)(1)-4.iii; 41(c)(2)(i)-1; 41(c)(2)(iii)-1 through -6. • For borrowers in forbearance, whether servicers are contacting borrowers before the end of the forbearance period to determine if the borrower wishes to complete the loss mitigation application and proceed with a full loss mitigation application; 8 8 *See* Regulation X, comment 41(b)(1)-4.iii. 3. Whether servicers are complying with the Equal Credit Opportunity Act's (ECOA's) prohibition against discriminating against any applicant, with respect to any aspect of a credit transaction, including: 9 9 15 U.S.C. 1691(a). The ECOA prohibits discrimination based on race or color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to contract), because all or part of the applicant's income derives from any public assistance program, and because the applicant has in good faith exercised any right under the Consumer Credit Protection Act (Consumer Credit Protection Act, 15 U.S.C. 1601 *et seq.* ). • Whether servicers are managing communications with limited English proficiency borrowers while maintaining compliance with applicable laws; 10 10 *See* Bureau of Consumer Financial Protection, “Statement Regarding the Provision of Financial Products and Services to Consumers with Limited English Proficiency,” 86 FR 6306 (Jan. 21, 2021) (encouraging financial institutions to better serve LEP consumers in languages other than English and providing key considerations and guidelines financial institutions can use to develop related compliance solutions). • For applicants who are recipients of income derived from part-time employment, alimony, child support, separate maintenance payments, retirement benefits, or public assistance, whether servicers evaluate such income in accordance with the ECOA and Regulation B when determining eligibility for loss mitigation options, to the extent the servicer is otherwise required to use income in determining eligibility for loss mitigation options; 11 11 For example, the ECOA and Regulation B prohibit creditors from automatically discounting or excluding from consideration the public assistance income of an applicant or the spouse of an applicant. *See* 15 U.S.C. 1691(b)(2), 12 CFR 1002.6(b)(5); 12 CFR part 1002, supp. I, ¶ 6(b)(5)-(3)(ii); *see id.* at 6(b)(5)-(1) (“A creditor must evaluate income derived from . . . public assistance on an individual basis . . . .”); *see also* Consumer Financial Protection Bureau, *Supervisory Highlights,* Summer 2020, *https://files.consumerfinance.gov/f/documents/cfpb_supervisory-highlights_issue-22_2020-09.pdf.* 4. Whether servicers promptly handle loss mitigation inquiries and avoid unreasonably long hold times on phone lines; for example, the Bureau plans to scrutinize servicer conduct where hold times are significantly longer than industry averages; 5. Whether servicers maintain policies and procedures that are reasonably designed to achieve the continuity of contact objectives to ensure that delinquent borrowers receive accurate information about their loss mitigation options; 12 12 *See* Regulation X, 12 CFR 1024.40; *see also* 12 CFR 1024.38(b)(2)(i) (requiring policies and procedures reasonably designed to ensure that the servicer can provide accurate information regarding loss mitigation options available to a borrower from the owner or assignee of the borrower's mortgage loan); 12 CFR 1024.38(b)(2)(ii) (requiring policies and procedures reasonably designed to ensure that the servicer can identify with specificity all loss mitigation options for which borrowers may be eligible pursuant to any requirements established by an owner or assignee of the borrower's mortgage loan). 6. For borrowers who submit complete loss mitigation applications, whether servicers evaluate the applications consistent with the Regulation X requirements to promote timely and consistent evaluations; 13 13 *See* Regulation X, 12 CFR 1024.41. 7. Whether servicers comply with foreclosure restrictions in Regulation X and other Federal or State foreclosure restrictions; 14 and 14 *See* Regulation X, 12 CFR 1024.41(f) and (g). 8. Whether servicers are complying with the Fair Credit Reporting Act's requirements to report the credit obligation or account appropriately. 15 15 CARES Act, Public Law 116-136, sec. 4021

(2020)(amending section 623(a)(1) of the FCRA). IV. Conclusion The Bureau issues this policy statement to highlight supervisory and enforcement priorities with respect to mortgage servicing and to confirm that the Bureau will hold servicers accountable if they are unable to manage an expected increase in borrowers needing loss mitigation assistance. V. Regulatory Requirements The Bulletin constitutes a general statement of policy exempt from the notice and comment rulemaking requirements of the Administrative Procedure Act (APA). It is intended to provide information regarding the Bureau's general plans to exercise its supervisory and enforcement discretion for institutions under its jurisdiction and does not impose any legal requirements on external parties, nor does it create or confer any substantive rights on external parties that could be enforceable in any administrative or civil proceeding. Because no notice of proposed rulemaking is required in issuing the Bulletin, the Regulatory Flexibility Act also does not require an initial or final regulatory flexibility analysis. The Bureau has also determined that the issuance of the Bulletin does not impose any new or revise any existing recordkeeping, reporting, or disclosure requirements on covered entities or members of the public that would be collections of information requiring approval by the Office of Management and Budget under the Paperwork Reduction Act. Dated: March 31, 2021. David Uejio, Acting Director, Bureau of Consumer Financial Protection. [FR Doc. 2021-07098 Filed 4-6-21; 8:45 am]

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