(a) Authority. The regulation in this part is issued by the Bureau pursuant to section 1022(b) and (c) and section 1024(b) of the Consumer Financial Protection Act of 2010, codified at 12 U.S.C. 5512(b) and (c), and 12 U.S.C. 5514(b).
(b) Purpose. The purpose of this part is to prescribe rules governing the registration of nonbanks, and the collection and submission of registration information by such persons, and for public release of the collected information as appropriate.
(1) This subpart contains general provisions and definitions used in this part.
(2) Subpart B of this part sets forth requirements regarding the registration of nonbanks subject to certain agency and court orders.
For the purposes of this part, unless the context indicates otherwise, the following definitions apply:
(a) Affiliate, consumer, consumer financial product or service, covered person, Federal consumer financial law, insured credit union, person, related person, service provider, and State have the same meanings as in 12 U.S.C. 5481.
(b) Bureau means the Consumer Financial Protection Bureau.
(c) Include, includes, and including mean that the items named may not encompass all possible items that are covered, whether like or unlike the items named.
(d) Nonbank registry means the Bureau's electronic registry identified and maintained by the Bureau for the purposes of this part.
(e) Nonbank registry implementation date means, for a given requirement or subpart of this part, or a given person or category of persons, the date(s) determined by the Bureau to commence the operations of the nonbank registry in connection with that requirement or subpart.
(a) Filing instructions. The Bureau shall specify the form and manner for electronic filings and submissions to the nonbank registry that are required or made voluntarily under this part. The Bureau also may provide for extensions of deadlines or time periods prescribed by this part for persons affected by declared disasters or other emergency situations.
(b) Coordination or combination of systems. In administering the nonbank registry, the Bureau may rely on information a person previously submitted to the nonbank registry under this part and may coordinate or combine systems in consultation with State agencies as described in 12 U.S.C. 5512(c)(7)(C) and 12 U.S.C. 5514(b)(7)(D).
(c) Bureau use of registration information. The Bureau may use the information submitted to the nonbank registry under this part to support its objectives and functions, including in determining when to exercise its authority under 12 U.S.C. 5514 to conduct examinations and when to exercise its enforcement powers under subtitle E of the Consumer Financial Protection Act of 2010. However, this part does not alter any applicable process whereby a person may dispute that it qualifies as a person subject to Bureau authority.
(d) Calculation of time periods. In computing any date or period of time prescribed by this part, exclude the day of the event that triggers the period; count every day, including intermediate Saturdays, Sundays, and Federal holidays; and include the last day of the period. If any provision of this part would establish a deadline for an action that is a Saturday, Sunday, or Federal holiday, the deadline is extended to the next day that is not a Saturday, Sunday, or Federal holiday.
If any provision of this part, or any application of a provision, is stayed or determined to be invalid, the remaining provisions or applications are severable and shall continue in effect.