Technical Specifications for Credit Card Agreement and Data Submissions Required Under TILA and the CARD Act (Regulation Z)

As Enacted ( Federal Register)

Cited authorities 13

Cited in

Published date	23 August 2021
Citation	86 FR 46953
Record Number	2021-17994
Section	Rules and Regulations
Court	Consumer Financial Protection Bureau

This section of the FEDERAL REGISTER

contains regulatory documents having general

applicability and legal effect, most of which

are keyed to and codified in the Code of

Federal Regulations, which is published under

50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by

the Superintendent of Documents.

Rules and Regulations Federal Register

46953

Vol. 86, No. 160

Monday, August 23, 2021

Fair Credit and Charge Card Disclosure Act of

1988 (FCCCDA), Public Law 100–583, section 5,

102 Stat. 2960, 2967 (1988) (adding section 136(b)

of TILA). TILA section 136(b) is codified at 15

U.S.C. 1646(b).

Dodd-Frank Wall Street Reform and Consumer

Protection Act (Dodd-Frank Act), Public Law 111–

203, tit. X, section1100A(2), 124 Stat. 1376, 2107

(2010). The transfer of this authority, as a consumer

protection function under TILA, became effective

on July 21, 2011. See Dodd-Frank Act section 1061,

124 Stat. 2035–2039 (consumer financial protection

functions to be transferred to the Bureau as of a

designated transfer date); 75 FR 57252 (Sept. 20,

2010) (setting transfer date).

TILA section 127(c) requires issuers to disclose,

among other things, the annual percentage rate for

purchases (must state if it is a variable rate); the

length of the grace period; the name or description

of the balance computation method; the fee for

issuance or availability (membership fee); the

minimum finance charge; the transaction fee for

purchases; the transaction fee for cash advances; the

fee for late payment; and the fee for exceeding the

credit limit. 15 U.S.C. 1637(c).

15 U.S.C. 1646(b).

Bureau of Consumer Fin. Prot., Collect—TCCP

User Guide 2 (Jan. 2019), https://

files.consumerfinance.gov/f/documents/TCCP_

User_Guide_Final.pdf.

15 U.S.C. 1646(b)(3).

See Bureau of Consumer Fin. Prot., Supporting

Statement Part A: Report of Terms of Credit Card

Plans (Form FR 2572) (OMB Control Number: 3170–

0001) 1 (uploaded May 29, 2019), https://

www.reginfo.gov/public/do/

DownloadDocument?objectID=91971901.

See Office of Mgmt. & Budget, Notice of Office

of Management and Budget Action (Oct. 24, 2011),

https://www.reginfo.gov/public/do/

PRAViewICR?ref_nbr=201110-3170-006#

(approving transfer of FR 2572 from the Board to

the Bureau).

See, e.g., 84 FR 24764 (May 29, 2019) (notice of

and requesting comments for renewal of Office of

Management and Budget (OMB) approval for

existing Report of Terms of Credit Card Plan

information collection). The FR 2572 form is

currently on the Bureau’s website at https://

files.consumerfinance.gov/f/documents/bcfp_tccp-

survey_form-2572_instructions.pdf.

Bureau of Consumer Fin. Prot., Report of Terms

of Credit Card Plans—Instructions (FR 2572), page

1, https://files.consumerfinance.gov/f/documents/

bcfp_tccp-survey_form-2572_instructions.pdf.

BUREAU OF CONSUMER FINANCIAL

PROTECTION

12 CFR Part 1026

Technical Specifications for Credit

Card Agreement and Data

Submissions Required Under TILA and

the CARD Act (Regulation Z)

AGENCY

: Bureau of Consumer Financial

Protection.

ACTION

: Notification of technical

specifications; procedural rule.

SUMMARY

: Certain credit card issuers

must submit credit card agreements and

data to the Bureau of Consumer

Financial Protection (Bureau) under the

Truth in Lending Act (TILA) and the

Credit Card Accountability

Responsibility and Disclosure Act of

2009 (CARD Act). The Bureau is issuing

new technical specifications for

complying with those submission

requirements. Credit card issuers will

make the required submissions under

TILA and the CARD Act through the

Bureau’s ‘‘Collect’’ website. These

technical specifications include

registration information and the URL for

the website at which issuers (or their

designees) can submit the required

information.

DATES

: This notification of technical

specifications and procedural rule

becomes effective on August 23, 2021.

Issuers must make submissions using

the Collect website, in accordance with

these technical specifications.

FOR FURTHER INFORMATION CONTACT

Yaritza Velez, Counsel or Caroline

Hong, Senior Counsel, Office of

Regulations, at 202–435–7700 or https://

reginquiries.consumerfinance.gov. For

technical assistance regarding the

Collect website and submission system,

contact Collect_Support@cfpb.gov. If

you require this document in an

alternative electronic format, please

contact CFPB_Accessibility@cfpb.gov.

SUPPLEMENTARY INFORMATION

I. Submission Requirements

A. Submission of Data on Credit Card

Pricing and Availability (Terms of

Credit Card Plans Survey)

The Statute

In 1988, Congress amended section

136 of the Truth in Lending Act (TILA)

to require the Board of Governors of the

Federal Reserve System (Board) to

collect certain credit card price and

availability information from a sample

of credit card issuers and report this

information to Congress and make it

available to the public.

The

responsibility to collect this

information, through what is called the

Terms of Credit Card Plans (TCCP)

Survey, was transferred to the Bureau in

2011.

Specifically, TILA section 136(b)

requires the Bureau to collect, on a

semiannual basis, credit card price and

availability information, including the

information required to be disclosed

under section 127(c) of TILA, from a

broad sample of financial institutions

that offer credit card services. Section

127(c) of TILA lists requirements for

disclosures in connection with credit

and charge card applications and

solicitations.

TILA section 136(b) also requires that

the sample of TCCP Survey respondents

include the 25 largest issuers of credit

cards and no less than 125 additional

financial institutions selected by the

Bureau in a manner that ensures an

equitable geographic distribution within

the sample and the representation of a

wide spectrum of institutions within the

sample.

Generally, the Bureau sends an

email to each selected issuer requesting

that it complete the TCCP Survey.

Issuers that do not receive such an email

from the Bureau do not need to

complete the TCCP Survey.

There are no implementing

regulations for the core TCCP Survey

collection requirement in TILA section

136(b). Issuers are required to submit

their information ‘‘to the Bureau in

accordance with such regulations or

orders as the Bureau may prescribe.’’

The Submission Process

In 1990, the Board implemented a

‘‘Report of Terms of Credit Card Plans

Survey’’ (FR 2572), in the form of a

spreadsheet, to collect the TCCP Survey

data elements from financial institutions

(issuers) participating in the Survey.

The Board collected TCCP Survey

responses using the FR 2572 form until

2011, when the collection of

information for the TCCP Survey was

formally transferred to the Bureau.

The

Bureau has also used the FR 2572 form

to collect information from selected

issuers for the TCCP Survey.

TCCP

Survey data must be reported twice a

year, as of January 31 and July 31.

selected by the Bureau to complete the

TCCP Survey, an issuer would need to

complete its Survey within 10 business

days of the end of the Survey date (e.g.,

February 14 or August 14, respectively).

The information provided by the issuer

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See, e.g., Bureau of Consumer Fin. Prot., TCCP

Survey FAQs, page 2 (Question 3) (last updated May

1, 2020), https://files.consumerfinance.gov/f/

documents/cfpb_tccp-survey_faq.pdf.

The Bureau’s TCCP Survey database is

available at https://cfpb-sites.force.com/

CreditCardPlanSurveys.

84 FR 7979 (Mar. 6, 2019).

Although TCCP Survey respondents currently

have the ability to register for Collect, generally

TCCP Survey respondents are not aware that they

are required to participate in the Survey until

receiving notification from the Bureau. As a result,

new TCCP Survey Collect users would not need to

Survey submissions until that time.

Public Law 111–24, 123 Stat. 1734 (2009).

15 U.S.C. 1632(d).

Public Law 111–203, section 1100A, 124 Stat.

2081 (2010). See also supra note 2.

76 FR 79768 (Dec. 22, 2011).

12 CFR 1026.58(c)(1). A credit card issuer is not

required to submit a credit card agreement to the

Bureau pursuant to 12 CFR 1026.58, if it qualifies

for the de minimis exception in 12 CFR

1026.58(c)(5), the private label credit card exception

in 12 CFR 1026.58(c)(6), or the product testing

exception in 12 CFR 1026.58(c)(7).

12 CFR 1026.58(c)(1)(i) through (iv).

12 CFR 1026.58(c)(3).

12 CFR 1026.58(d).

12 CFR 1026.58(c)(8)(ii)(A). See also 12 CFR

1026, Comment 58(c)(8)–2 (‘‘Pricing information

must be set forth in the separate addendum

described in 1026.58(c)(8)(ii)(A) even if it is also

stated elsewhere in the agreement.’’).

must be current as of the Survey date

(i.e., January 31 or July 31).

Starting with the TCCP Survey cycle

beginning on July 31, 2018, the Bureau

has provided issuers with the voluntary

option to make TCCP Survey

submissions through its Collect website

(Collect). The Bureau has also continued

to accept TCCP Survey submissions

using the FR 2572 form.

For the most recent TCCP Survey

cycle beginning on January 31, 2021, 83

percent of TCCP Survey submissions

were made via Collect. Collect has

simplified the TCCP Survey submission

process for issuers in several ways. For

example, instructions in Collect are

‘‘tiered’’ so that the submitter only sees

relevant questions, thus minimizing the

possibility for confusion or error.

Collect also avoids instructions that

would lead to duplicative responsive

information if the system determines

that the information has already been

provided earlier in the submission

process. Additionally, Collect provides

an audit trail that allows issuers to

clearly verify whether and when each of

their submissions has been received by

the Bureau and review the contents of

past submissions. Further, the Bureau

has heard through its market outreach

efforts that Survey respondents find

Collect to be faster to use than the FR

2572 form, and that it allows them to

more easily reference past submissions.

The Bureau has also found that Collect

facilitates faster processing of TCCP

Survey submissions by Bureau staff,

which in turn has led to the faster

posting of the TCCP Survey results on

the Bureau’s website

and enhanced

the public’s ability to use the data in a

timely manner. The Bureau believes that

such gains to issuers, the public, and the

Bureau would be increased if all TCCP

Survey respondents used Collect, and

that any additional burden on Survey

respondents as a result of using Collect

would be minimal.

In April 2019, the Bureau also started

using Collect to receive prepaid account

agreements and associated information

from prepaid account issuers pursuant

to 12 CFR 1005.19.

The Bureau has

found that Collect also provides a

streamlined electronic process for this

collection that substantially benefits

issuers, the public, and the Bureau.

For the reasons set forth above,

issuers selected by the Bureau to

participate in the TCCP Survey must

submit their data using Collect, starting

with the Survey cycle beginning on

January 31, 2022, for which responses

are due on February 14, 2022.

Afterward, issuers selected by the

Bureau to participate in future TCCP

Surveys must also use Collect to submit

their responses. Issuers selected by the

Bureau to participate in the Survey who

do not already use Collect can begin the

registration process immediately.

Upon receiving their login credentials,

issuers will be able to start submitting

their Survey responses using Collect.

See the Technical Specifications in part

II below for additional information.

B. Quarterly Submission of Credit Card

Agreements

The Statute and Regulation

In 2009, Congress enacted the Credit

Card Accountability Responsibility and

Disclosure Act (CARD Act) in order to

‘‘establish fair and transparent practices

related to the extension of credit’’ in the

credit card market.

Section 204 of the

CARD Act added new TILA section

122(d) to require creditors to post

agreements for open-end consumer

credit card plans on the creditors’

websites and submit those agreements

to the Board for posting on a publicly

available website established and

maintained by the Board.

The Board

generally implemented the CARD Act’s

provisions in subpart G of Regulation Z.

Specifically, TILA section 122(d)(1)

requires each creditor to post its credit

card agreements on its own website, and

section 122(d)(2) requires the creditor to

provide its agreements to the Bureau

(formerly the Board). TILA section

122(d)(3) requires the Bureau (formerly

the Board) to establish and maintain on

its publicly available website a central

repository of the agreements it receives

under section 122(d)(2). The Board

implemented these provisions at 12 CFR

226.58. With the adoption of the Dodd-

Frank Act, authority to implement TILA

transferred to the Bureau,

and the

Bureau renumbered this provision in

Regulation Z as 12 CFR 1026.58.

While TILA section 122(d) requires

that creditors provide agreements to the

Bureau, it does not specify the

frequency or timing for these

submissions. The implementing

regulations in Regulation Z provide that

a card issuer must make quarterly

submissions to the Bureau ‘‘in the form

and manner specified by the Bureau,’’

except as otherwise provided in the

regulation.

Each submission must

contain identifying information about

the issuer and the agreements

submitted; the credit card agreements

that the issuer offered to the public as

of the last business day of the preceding

calendar quarter that the issuer has not

previously submitted to the Bureau; any

credit card agreement previously

submitted to the Bureau that was

amended during the preceding calendar

quarter and that the issuer offered to the

public as of the last business day of the

preceding calendar quarter; and a

notification regarding any credit card

agreement previously submitted to the

Bureau that the issuer is withdrawing.

If a credit card agreement has been

previously submitted to the Bureau, the

agreement has not been amended, and

the card issuer continues to offer the

agreement to the public, no additional

submission regarding that agreement is

required for that calendar quarter.

These quarterly submissions must be

sent to the Bureau no later than the first

business day on or after January 31,

April 30, July 31, and October 31 of

each year. The regulation also provides

that, except in certain circumstances,

card issuers must post and maintain on

their publicly available websites the

credit card agreements that the issuers

are required to submit to the Bureau.

The Bureau’s implementing

regulation at 12 CFR 1026.58(c)(8)

provides requirements for the form and

content of the quarterly credit card

agreement submissions. One such

requirement specifies that for each

submitted ‘‘agreement,’’ the ‘‘[p]ricing

information must be set forth in a single

addendum to the agreement.’’

The

term ‘‘agreement’’ or ‘‘credit card

agreement’’ is defined as ‘‘the written

document or documents evidencing the

terms of the legal obligation, or the

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12 CFR 1026.58(b)(1).

12 CFR 1026.58(b)(7) (‘‘pricing information’’

refers to the information listed in 12 CFR

1026.6(b)(2)(i) through (b)(2)(xii)).

12 CFR 1026.58(c)(8)(iii).

See 75 FR 7658, 7923 (Feb. 22, 2010) (technical

specifications for the quarterly credit card

submission included in Attachment I to the Federal

See 12 CFR 1026.58(g); see also 80 FR 21153

(Apr. 17, 2015). Credit card issuers’ obligations to

post currently offered credit card agreements on

their publicly available websites under 12 CFR

1026.58(d), and to make agreements for open

accounts available to cardholders as required by 12

CFR 1026.58(e), were not affected by the

suspension. See 80 FR 21153, 21155 (Apr. 17,

2015); see also 81 FR 19467 (Apr. 5, 2016) (notice

of expiration of suspension).

80 FR 21153, 21154 (Apr. 17, 2015). The

Bureau’s database of credit card agreements is

available at http://www.consumerfinance.gov/

credit-cards/agreements/.

80 FR 21153, 21154 (Apr. 17, 2015).

See 81 FR 19467 (Apr. 5, 2016).

The current instructions for submitting credit

card agreements to the Bureau are available at

https://files.consumerfinance.gov/f/documents/

cfpb_card-agreements-submission-instructions.pdf.

CARD Act, Public Law 111–24, section 305,

123 Stat. 1734, 1749–1750. TILA section 127(r) is

codified as 15 U.S.C. 1637(r).

15 U.S.C. 1637(r)(3).

Public Law 111–203, section 1100A, 124 Stat.

2081 (2010). See also supra note 2.

76 FR 79768 (Dec. 22, 2011).

Specifically, section 1026.57(d)(2) states that

the annual report must include identifying

Continued

prospective legal obligation, between a

card issuer and a consumer for a credit

card account under an open-end (not

home-secured) consumer credit plan’’

and also includes pricing information.

Pricing information is defined to

include certain information, including

credit card annual percentage rates

(APR) and fees and charges, among

other things.

Provisions of the

agreement other than the pricing

information that may vary from one

cardholder to another depending on the

cardholder’s creditworthiness or State of

residence or other factors may be set

forth in a single addendum to the

agreement separate from the pricing

information addendum.

This

addendum is referred to as the variable

terms addendum.

The Submission Process

Under the process established by the

Board that was used by the Bureau until

2015 and updated as described below in

2016, credit card issuers submit

agreements and agreement information

to the Bureau manually via email.

April 17, 2015, the Bureau issued a final

rule temporarily suspending credit card

issuers’ obligations under 12 CFR

1026.58 to submit credit card

agreements to the Bureau for a period of

one year (i.e., four quarterly

submissions), in order to reduce burden

while the Bureau worked to develop a

more streamlined and automated

electronic submission system.

When

issuing the final rule, the Bureau

explained that it believed the manual

process ‘‘may be unnecessarily

cumbersome for issuers and may make

issuers’ own internal tracking of

previously submitted agreements

difficult’’ and noted that ‘‘the process

for Bureau staff to manually review,

catalog, and upload new or revised

agreements to the Bureau’s website, and

to remove outdated agreements, can

extend for several months after the

quarterly submission deadline.’’

The

Bureau also stated its intent to develop

‘‘a more streamlined and automated

electronic submission system’’ that

would both allow issuers to upload

agreements directly to the Bureau’s

database and enable faster posting of

agreements on the Bureau’s website.

The Bureau did not implement the

submission system described above

during the temporary one-year

suspension period and instead posted

updated submission instructions in

2016 to its website.

The updated

submission process, which is currently

in use, allows issuers to submit

agreements by emailing weblinks to the

agreements instead of attaching the

agreements as Portable Document

Format (PDF) files.

Issuers also

continue to have the option to email the

agreements as PDF files. However, the

process for Bureau staff remains a time-

consuming, manual process that extends

for several months after each quarterly

submission deadline. The process also

provides no audit trail or automated

verification mechanism by which

issuers can confirm receipt of their

submissions by the Bureau each quarter

and review past quarters’ submissions.

Soon after the one-year suspension

expired, the Bureau developed and

deployed Collect, which is currently

used by the Bureau to receive TCCP

Survey responses on a voluntary basis

and prepaid account agreements and

agreement information, as explained

above. For the TCCP Survey, Collect has

provided a streamlined and automated

electronic submission system that is less

burdensome and easier for issuers to

use, and that has reduced Bureau staff

processing time, provided a robust audit

trail for submissions, and lessened the

time between the dates of issuer

submissions and availability of the

information to the public. For the

prepaid account agreement and

information submissions, the Bureau

has found that Collect also provides a

streamlined electronic process that

benefits issuers, the public, and the

Bureau.

Therefore, for these reasons, issuers

making credit card agreement

submissions to the Bureau on a

quarterly basis must make those

submissions using Collect, starting with

the submissions for the fourth quarter of

calendar year 2021 that are due on

January 31, 2022. Subsequent

submissions must also be made using

Collect, on an ongoing basis. Issuers

who do not already use Collect can

begin the registration process

immediately. All issuers required to

make quarterly credit card agreement

submissions to the Bureau must register

for Collect by November 1, 2021. Once

the issuer receives its login credentials,

the issuer will have the ability to review

its current submissions and start making

the required submissions using Collect,

starting on December 1, 2021. See the

Technical Specifications in part II below

for additional information.

C. Submission of College Credit Card

Marketing Agreements and Data

The Statute and Regulation

The CARD Act also added new TILA

section 127(r), which requires credit

card issuers to submit an annual report

to the Bureau (formerly the Board)

containing the terms and conditions of

all business, marketing, promotional

agreements, and college affinity card

agreements with an institution of higher

education, or an alumni organization or

foundation affiliated with or related to

such institution, with respect to any

college student credit card issued to a

college student at such institution.

This document refers to those

agreements as ‘‘college credit card

marketing agreements.’’ Under TILA

section 127(r), the Bureau (formerly the

Board) is obligated to make an annual

report listing such information to

Congress and to also make the report

available to the public.

The Board

implemented these provisions at 12 CFR

226.57(d). As noted above, in 2011, the

Dodd-Frank Act transferred the

authority to implement TILA to the

Bureau.

The Bureau renumbered this

provision in Regulation Z as 12 CFR

1026.57(d).

Section 1026.57(d) provides that card

issuers that were parties to college

credit card marketing agreements in

effect at any time during a calendar year

must submit an annual report to the

Bureau regarding those agreements ‘‘in

the form and manner prescribed by the

Bureau’’ and specifies the information

that the report must include.

Card

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information about the card issuer and agreements

submitted; a copy of any college credit card

agreement to which the issuer was a party that was

in effect at any time during the period covered by

the report; a copy of any memorandum of

understanding in effect at any time during the

period covered by the report, as described by the

regulation; the total dollar amount of any payments

pursuant to a college credit card agreement from the

card issuer to an institution of higher education or

affiliated organization during the period covered by

the report, and the method or formula used to

determine such amounts; the total number of credit

card accounts opened pursuant to any college credit

card agreement during the period covered by the

report; and the total number of credit card accounts

opened pursuant to any such agreement that were

open at the end of the period covered by the report.

12 CFR 1026.57(d)(3).

See 75 FR 7658, 7923 (Feb. 22, 2010) (technical

specifications for the quarterly credit card

submission included in Attachment I to the Federal

specifications were updated by the Board on

December 31, 2010, and are available on the

Bureau’s website, at http://

files.consumerfinance.gov/f/201603_cfpb_

consumer-and-college-credit-card-agreement-

submission.pdf.

The Bureau’s college credit card marketing

agreement and data website is available at https://

www.consumerfinance.gov/data-research/student-

banking/marketing-agreements-and-data/.

The annual reports are due to the Bureau ‘‘by

the first business day on or after March 31 of the

following calendar year.’’ 12 CFR 1026.57(d)(3).

Because March 31, 2022, falls on a Thursday, the

2022 deadline is March 31, 2022.

15 U.S.C. 1646(b).

For questions concerning the registration form,

please contact the Collect Support Team at Collect_

Support@cfpb.gov.

TCCP Survey respondents who have not used

Collect previously are encouraged to register as

early as possible after they have received

notification from the Bureau that they are required

to participate in the Survey, to confirm that they

can successfully access the system. See also note

14.

Issuers who are not otherwise registered for

Collect (i.e., because they are TCCP Survey

respondents already registered for Collect) are

encouraged to register as early as possible. For

questions concerning the registration form, please

contact the Collect Support Team at Collect_

Support@cfpb.gov.

issuers are required to submit their

annual reports for a given calendar year

to the Bureau by the first business day

on or after March 31 of the following

calendar year.

The Submission Process

The current process was first

established by the Board in 2010 and

has been left generally unchanged by

the Bureau.

Under that process, credit

card issuers manually submit their

annual report data as PDFs (for

agreements) and as tab-delimited plain

text files or as a Microsoft Excel

Workbook (for associated information)

that they send to the Bureau primarily

via email. As with the TCCP Survey and

quarterly credit card agreement

submissions, Bureau staff must then

manually review, catalog, and upload

college credit card marketing

agreements and data to the Bureau’s

website,

which delays the provision of

such information to the public.

Based on the Bureau’s experience

with issuer submissions through Collect

as to the TCCP Survey and prepaid

account agreements and agreement data,

the Bureau believes that requiring

issuers to submit college credit card

marketing agreements and data using

Collect will reduce the burden on

issuers by eliminating the manual

process and lessen the time required for

Bureau staff to process the submissions

and make the information available to

the public. It will also provide a robust

audit trail for issuers to track the receipt

and contents of current and past

submissions.

Therefore, for the above reasons,

issuers must submit their annual reports

related to college credit card marketing

agreements and data using Collect,

starting with the submissions that are

due on March 31, 2022,

and continue

to do so on an ongoing basis. That is, a

card issuer that was a party to one or

more college credit card marketing

agreements in effect at any time during

calendar year 2021 must use Collect to

submit to the Bureau an annual report

regarding those agreements by March

31, 2022. Subsequent annual

submissions must also be made using

Collect, on an ongoing basis. Issuers

who do not already use Collect can

begin the registration process

immediately. Once the issuer receives

its login credentials, the issuer will have

the ability to start making the required

submissions using Collect, starting in

January 2022. See the Technical

Specifications in part II below for

additional information.

II. Technical Specifications

A. Submission of Data on Credit Card

Pricing and Availability (TCCP Survey)

The Bureau has established Collect as

the mandatory vehicle for submitting

the TCCP Survey elements under TILA

section 136(b).

Issuers that have been

selected by the Bureau to participate in

the TCCP Survey cycle beginning on

January 31, 2022, must submit the

required information using Collect

within 10 business days at the end of

the Survey date (i.e., no later than

February 14, 2022). Selected issuers

must also use Collect to make

submissions for future TCCP Survey

cycles. Collect can be accessed at

https://collect.consumerfinance.gov.

Issuers can begin the registration

process for Collect immediately. To

not already registered for Collect must

complete a registration form and submit

it to Collect_Support@cfpb.gov.

The

Collect registration form is available at

https://files.consumerfinance.gov/f/

documents/cfpb_collect-registration.pdf.

Once respondents receive their login

credentials, they will be able to submit

their TCCP Survey information.

Collect uses interactive forms to guide

respondents through the submission

process. After submitting certain

identifying information as required by

the statute, respondents will be

prompted to input the TCCP Survey

information into Collect.

Compliance Resources

For the TCCP Survey submissions

required under TILA section 136(b), the

Bureau has published compliance

resources to assist respondents in using

Collect, including a user guide, a quick

reference guide, frequently asked

questions, and a webinar. These

resources are available on the Bureau’s

website at https://

www.consumerfinance.gov/data-

research/credit-card-data/terms-credit-

card-plans-survey/. The Bureau plans to

update this website, as needed, to reflect

changes made by these technical

specifications. For technical assistance

related to TCCP Survey submissions,

Survey respondents can contact the

Bureau at Collect_Support@cfpb.gov.

B. Quarterly Submission of Credit Card

Agreements

The Bureau has established Collect as

the mandatory vehicle for credit card

agreement submissions that must be

made to the Bureau on a quarterly basis,

pursuant to 12 CFR 1026.58. Collect can

be accessed at https://

collect.consumerfinance.gov. Issuers

must use Collect to make their fourth

quarter of calendar year 2021

submissions that reflect their

agreements in effect as of December 31,

2021, by January 31, 2022. Issuers must

also use Collect to make future quarterly

credit card agreement submissions.

Issuers can begin the registration

process for Collect immediately. To

registered for Collect must complete a

registration form and submit it to

Collect_Support@cfpb.gov by November

1, 2021.

The Collect registration form

is available at https://

files.consumerfinance.gov/f/documents/

cfpb_collect-registration.pdf. Once

submitters receive their login

credentials, they will be able to review

their current submissions and make the

required submissions for the fourth

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46957

Federal Register / Vol. 86, No. 160 / Monday, August 23, 2021 / Rules and Regulations

Issuers who are not otherwise registered for

Collect (i.e., because they are TCCP Survey

respondents already registered for Collect) are

encouraged to register as early as possible. For

questions concerning the registration form, please

contact the Collect Support Team at Collect_

Support@cfpb.gov.

12 U.S.C. 5512(b)(1).

15 U.S.C. 1604(a).

15 U.S.C. 1632(d)(5).

44 U.S.C. 3501 et seq.

quarter of calendar year 2021 using

Collect, starting on December 1, 2021.

Collect uses interactive forms to guide

submitters through the submission

process. After submitting certain

identifying information as required by

12 CFR 1026.58(c)(1)(i), issuers will be

prompted to upload the required

documents using Collect. Issuers will be

able to upload an agreement, a pricing

addendum, and if applicable, a variable

terms addendum. Pursuant to 12 CFR

1026.58(c)(8)(ii)(A), pricing information

must be set forth in a single addendum,

so an issuer must submit only one

pricing addendum with each agreement.

File Format

Credit card agreements submitted

through Collect must be in the PDF file

format, and must be text-searchable,

digitally created PDFs. These PDF files

should not be scanned documents,

otherwise known as ‘‘image-only’’ PDFs,

as these are not text-searchable. For

questions about file formats, please

contact the Bureau at Collect_Support@

cfpb.gov.

Compliance Resources

For quarterly credit card agreement

submissions that must be made

pursuant to 12 CFR 1026.58, the Bureau

is developing compliance resources to

assist issuers in using Collect, including

a user guide, a quick reference guide,

frequently asked questions, and a

webinar. These resources will be

available on the Bureau’s website at a

later date. For technical assistance

regarding these submissions, issuers can

contact the Bureau at Collect_Support@

cfpb.gov.

C. Submission of College Credit Card

Marketing Agreements and Data

The Bureau has established Collect as

the mandatory vehicle for the

submission of annual reports related to

college credit card marketing

agreements and data required under 12

CFR 1026.57. Issuers must use Collect to

submit to the Bureau, no later than

March 31, 2022, the required

information for the college credit card

marketing agreements to which the

issuers were a party during calendar

year 2021. Issuers must also use Collect

to make future college credit card

marketing agreement and data

submissions. Collect can be accessed at

https://collect.consumerfinance.gov.

Issuers can begin the registration

process for Collect immediately. To

registered for Collect must complete a

registration form and submit it to

Collect_Support@cfpb.gov.

The

Collect registration form is available at

https://files.consumerfinance.gov/f/

documents/cfpb_collect-registration.pdf.

Once submitters receive their login

credentials, they will be able to make

the required submissions using Collect,

starting in January 2022.

Collect uses interactive forms to guide

submitters through the submission

process. After submitting certain

identifying information as required by

12 CFR 1026.57(d)(2)(i), issuers will be

prompted to submit the required college

credit card marketing agreements and

data into Collect.

File Format

College credit card marketing

agreements submitted through Collect

must be in the PDF file format, and must

be text-searchable, digitally created

PDFs, except where noted in the

Bureau’s compliance resources. For

documents that must be text-searchable,

these files should not be scanned

documents, otherwise known as ‘‘image-

only’’ PDFs, as these are not text-

searchable. For questions about file

formats, please contact the Bureau at

Collect_Support@cfpb.gov.

Compliance Resources

For college credit card marketing

agreement and data submissions that

must be made under 12 CFR 1026.57,

the Bureau is developing compliance

resources to assist issuers in using

Collect, including a user guide, a quick

reference guide, frequently asked

questions, and a webinar. These

resources will be available on the

Bureau’s website at a later date. For

technical assistance regarding these

submissions, issuers can contact the

Bureau at Collect_Support@cfpb.gov.

III. Legal Authority

The Bureau is issuing this rule

pursuant to its authority under section

1022(b)(1) of the Dodd-Frank Act, which

authorizes the Bureau to prescribe rules

as may be necessary or appropriate to

enable the Bureau to administer and

carry out the purposes and objectives of

Federal consumer financial law.

The

Bureau is also issuing this rule pursuant

to TILA sections 105(a)

and

122(d)(5).

TILA section 105(a)

authorizes the Bureau to prescribe

regulations to carry out the purposes of

TILA. TILA section 122(d)(5), regarding

credit card agreements, authorizes the

Bureau to promulgate regulations to

implement section 122(d).

IV. Regulatory Requirements

The Bureau has concluded that these

technical specifications constitute a rule

of agency organization, procedure, or

practice exempt from the notice and

comment rulemaking requirements

under the Administrative Procedure Act

(APA), pursuant to 5 U.S.C. 553(b).

Because the procedural rule relates

solely to agency procedure and practice,

it is not substantive, and therefore is not

subject to the 30-day delayed effective

date for substantive rules under section

553(d) of the APA. Because no notice of

proposed rulemaking is required, the

Regulatory Flexibility Act does not

require an initial or final regulatory

flexibility analysis.

V. Paperwork Reduction Act

Under the Paperwork Reduction Act

of 1995 (PRA),

Federal agencies are

generally required to seek Office of

Management and Budget (OMB)

approval for information collection

requirements prior to implementation.

Under the PRA, the Bureau may not

conduct or sponsor and,

notwithstanding any other provision of

law, a person is not required to respond

to an information collection unless the

information collection displays a valid

control number assigned by OMB. The

collections of information related to this

rule have been previously reviewed and

approved by OMB and assigned OMB

Control Numbers 3170–0001 and 3170–

0052. The Bureau has determined that

these technical specifications do not

impose any new recordkeeping,

reporting, or disclosure requirements on

covered entities or members of the

public that would be collections of

information requiring approval by OMB

under the PRA. Rather, the Bureau

estimates that these specifications will

slightly reduce the cost burden for

covered entities compared to existing

submission practices.

VI. Signing Authority

The Acting Director of the Bureau,

David Uejio, having reviewed and

approved this document, is delegating

the authority to electronically sign this

document to Laura Galban, a Bureau

Federal Register Liaison, for purposes of

publication in the Federal Register.

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46958

Federal Register / Vol. 86, No. 160 / Monday, August 23, 2021 / Rules and Regulations

Dated: August 18, 2021.

Laura Galban,

Federal Register Liaison, Bureau of Consumer

Financial Protection.

[FR Doc. 2021–17994 Filed 8–20–21; 8:45 am]

BILLING CODE 4810–AM–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 25

[Docket No. FAA–2020–0893; Special

Conditions No. 25–790–SC]

Special Conditions: Pro Star Aviation

LLC, Bombardier Model CL–600–2B16

Airplanes; Installation of an Infrared

Laser Countermeasure System

AGENCY

: Federal Aviation

Administration (FAA), DOT.

ACTION

: Final special conditions.

SUMMARY

: These special conditions are

issued for the Bombardier Model CL–

600–2B16 (Bombardier) airplane. This

airplane, as modified by Pro Star

Aviation LLC (Pro Star Aviation), will

have a novel or unusual design feature

when compared to the state of

technology envisioned in the

airworthiness standards for transport

category airplanes. This design feature

is a system that emits infrared laser

energy outside the aircraft as a

countermeasure against heat-seeking

missiles. The applicable airworthiness

regulations do not contain adequate or

appropriate safety standards for this

design feature. These special conditions

contain the additional safety standards

that the Administrator considers

necessary to establish a level of safety

equivalent to that established by the

existing airworthiness standards.

DATES

: Effective September 22, 2021.

FOR FURTHER INFORMATION CONTACT

: Eric

Peterson, Safety Risk Management

Section, AIR–633, Policy and

Innovation Division, Aircraft

Certification Service, Federal Aviation

Administration, 2200 South 216th

Street, Des Moines, Washington 98198;

telephone and fax 206–231–3413; email

Eric.M.Peterson@faa.gov.

SUPPLEMENTARY INFORMATION

Background

On December 7, 2018, Pro Star

Aviation applied for a supplemental

type certificate to install a ‘‘Large

Aircraft Infrared Countermeasure

(LAIRCM)’’ system, which directs

infrared laser energy toward heat-

seeking missiles, on the Bombardier

Model CL–600–2B16 airplane. This

airplane, which is a derivative of the

Bombardier Model CL–600 series

airplanes currently approved under

Type Certificate No. A21EA, is a twin-

engine business jet with seating for 20

passengers and two crewmembers, and

a maximum takeoff weight of 47,600

pounds.

Type Certification Basis

Under the provisions of title 14, Code

of Federal Regulations (14 CFR) 21.101,

Pro Star Aviation must show that the

Bombardier Model CL–600–2B16

airplane, as changed, continues to meet

the applicable provisions of the

regulations listed in Type Certificate No.

A21EA, or the applicable regulations in

effect on the date of application for the

change, except for earlier amendments

as agreed upon by the FAA.

If the Administrator finds that the

applicable airworthiness regulations

(e.g., 14 CFR part 25) do not contain

adequate or appropriate safety standards

for the Bombardier Model CL–600–2B16

airplane because of a novel or unusual

design feature, special conditions are

prescribed under the provisions of

§ 21.16.

Special conditions are initially

applicable to the model for which they

are issued. Should the applicant apply

for a supplemental type certificate to

modify any other model included on the

same type certificate to incorporate the

same novel or unusual design feature,

these special conditions would also

apply to the other model under § 21.101.

In addition to the applicable

airworthiness regulations and special

conditions, the Bombardier Model CL–

600–2B16 airplane must comply with

the fuel-vent and exhaust-emission

requirements of 14 CFR part 34, and the

noise-certification requirements of 14

CFR part 36.

The FAA issues special conditions, as

defined in 14 CFR 11.19, in accordance

with § 11.38, and they become part of

the type certification basis under

§ 21.101.

Novel or Unusual Design Features

The Bombardier Model CL–600–2B16

airplane, as modified by Pro Star

Aviation, will incorporate the following

novel or unusual design feature:

A system that emits infrared laser

energy outside the aircraft.

Discussion

In recent years, in several incidents

abroad, civilian aircraft were fired upon

by man-portable air defense systems

(MANPADS). This has led several

companies to design and adapt systems

like LAIRCM for installation on civilian

aircraft, to protect those aircraft against

heat-seeking missiles. Pro Star

Aviation’s LAIRCM system directs

infrared laser energy toward an

incoming missile, in an effort to

interrupt the missile’s tracking of the

aircraft’s heat.

Infrared laser energy can pose a

hazard to persons on the aircraft, on the

ground, and on other aircraft. The risk

is heightened because infrared light is

invisible to the human eye. Human

exposure to infrared laser energy can

result in eye and skin damage, and

affect a flight crew’s ability to control

the aircraft. Infrared laser energy can

also affect other aircraft, whether

airborne or on the ground, and property,

such as fuel trucks and airport

equipment, in a manner that adversely

affects aviation safety.

FAA design standards for transport

category airplanes did not envisage that

a design feature could project infrared

laser energy outside the airplane. The

FAA’s design standards are inadequate

to address this capability. Therefore,

this system is a novel or unusual design

feature, and the FAA has developed

these special conditions to establish a

level of safety equivalent to that of the

regulations.

Special conditions are also warranted,

per 14 CFR 21.16, because FAA design

standards are inappropriate for this

design feature. 14 CFR 25.1301 requires

installed equipment to be of a design

that is appropriate for its intended

function. The FAA has no basis to

determine whether this LAIRCM system

will successfully perform its intended

function of thwarting heat-seeking

missiles.

Ground Activation. Condition 1

requires the design to have means to

prevent inadvertent operation of the

system while the airplane is on the

ground, including during maintenance.

These means must identify and address

all foreseeable failure modes that may

result in inadvertent operation. These

modes include errors in airplane

maintenance and operating procedures,

such as erroneously setting the system

to ‘‘air’’ mode while the airplane is on

the ground. The applicant could show

such failure modes, their risks, and how

they will be addressed, by conducting

safety assessments and incorporating

prevention strategies into the design.

In-Flight Activation. Condition 2

requires that the system be designed so

that in-flight operation does not result

in damage to the airplane or to other

aircraft, or injury to any person. To

account for these effects, the applicant’s

analysis should include effects from the

system’s erroneous operation, from

system failures, and from failures that

may not be readily detectable prior to

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Technical Specifications for Credit Card Agreement and Data Submissions Required Under TILA and the CARD Act (Regulation Z)

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