Nonbank Registry
The Nonbank Registry system of records covers information collected and maintained as part of the Consumer Financial Protection Bureau (CFPB) Office of Supervision nonbank registration program. Generally, “nonbanks” are institutions involved in the offering or provision of consumer financial products or services that are not insured depository institutions or insured credit unions. The Nonbank Registry enables certain nonbanks to register with the CFPB through the Bureau’s Nonbank Registry portal and to provide additional required registry information and documents.
Who is covered: This system covers individuals associated with nonbanks, such authorized representative(s) and executive(s) acting on behalf of the nonbank and individuals (e.g., consenting party, defendant) listed or included in a covered order and related public records, such as court or agency documents, or other documents provided to the registry. Additionally, this system covers individuals, including authorized representatives who submit a question to the CFPB about related regulations or that require technical assistance with the Nonbank Registry. Finally, this system covers CFPB Staff (e.g., political appointees, employees, contractors, consultants, interns, and volunteers), authorized to access and support the Nonbank Registry and program operations.
What information is collected: This system collects and maintains information on nonbanks, including the names and business contact information (e.g., business title and email address)for authorized representatives and executives provided during the registration process; the names and contact information (e.g., email address, phone number) of individuals associated with nonbanks found in registry documents (e.g., covered orders); and the names and email address of members of the public that submit a question to the CFPB about related regulations. This system also collects and maintains system access records that contain the names and usernames and passwords of CFPB Staff and external users authorized (e.g., nonbank representatives) that access the Nonbank Registry, and other audit-related information, such as date and time stamps of submissions via the Nonbank Registry portal, and information regarding reconciliation or correction of errors.
Why is the information collected: This system allows the CFPB to facilitate the risk-based nonbank supervision program and to ensure that registered nonbanks subject to the CFPB’s supervisory authority are legitimate entities and can perform their obligations to consumers, including their obligations under Federal consumer financial law. The system also allows the CFPB to effectively monitor and understand financial markets related to nonbanks or nonbank institutions and monitor for risks to consumers in the offering or provision of consumer financial products or services. Finally, this system allows the CFPB to maintain a central public registry of information on nonbanks to facilitate public awareness and oversight.
SYSTEM OF RECORDS NOTICE
HISTORY FOR THIS SYSTEM OF RECORDS NOTICE
89 FR 59900