§ 1092.201 Definitions.

For the purposes of this subpart, unless the context indicates otherwise, the following definitions apply:

(a) Administrative information means contact information regarding persons subject to this subpart and other information submitted or collected to facilitate the administration of the nonbank registry including information submitted under §§ 1092.202(g) and 1092.204(f).

(b) Attesting executive means, with respect to any covered order regarding a supervised registered entity, the individual designated by the supervised registered entity to perform the supervised registered entity’s duties with respect to the covered order under § 1092.204.

(c) Covered law means a law listed in paragraphs (1) through (6) below, to the extent that the violation of law found or alleged arises out of conduct in connection with the offering or provision of a consumer financial product or service:

(1) A Federal consumer financial law;

(2) Any other law as to which the Bureau may exercise enforcement authority;

(3) The prohibition on unfair or deceptive acts or practices under section 5 of the Federal Trade Commission Act, 15 U.S.C. 45, or any rule or order issued for the purpose of implementing that prohibition;

(4) A State law prohibiting unfair, deceptive, or abusive acts or practices that is identified in appendix A of this part;

(5) A State law amending or otherwise succeeding a law identified in appendix A, to the extent that such law is materially similar to its predecessor; or

(6) A rule or order issued by a State agency for the purpose of implementing a prohibition on unfair, deceptive, or abusive acts or practices contained in a State law described in paragraph (4) or (5).

(d) Covered nonbank means a covered person that is not any of the following:

(1) An insured depository institution or insured credit union;

(2) A person who is a covered person solely due to being a related person;

(3) A State;

(4) A natural person;

(5) A motor vehicle dealer that is predominantly engaged in the sale and servicing of motor vehicles, the leasing and servicing of motor vehicles, or both, within the meaning of 12 U.S.C. 5519(a), except to the extent such a person engages in functions that are excepted from the application of 12 U.S.C. 5519(a) as described in 12 U.S.C. 5519(b); or

(6) A person that qualifies as a covered person based solely on conduct that is the subject of, and that is not otherwise exempted from, an exclusion from the Bureau’s rulemaking authority under 12 U.S.C. 5517.

(e) Covered order means a final, public order issued by an agency or court, whether or not issued upon consent, that:

(1) Identifies a covered nonbank by name as a party subject to the order;

(2) Was issued at least in part in any action or proceeding brought by any Federal agency, State agency, or local agency;

(3) Contains public provisions that impose obligations on the covered nonbank to take certain actions or to refrain from taking certain actions;

(4) Imposes such obligations on the covered nonbank based on an alleged violation of a covered law; and

(5) Has an effective date on or later than January 1, 2017.

The term “covered order” does not include an order issued to a motor vehicle dealer that is predominantly engaged in the sale and servicing of motor vehicles, the leasing and servicing of motor vehicles, or both, within the meaning of 12 U.S.C. 5519(a), except to the extent such order is in connection with the functions that are excepted from the application of 12 U.S.C. 5519(a) as described in 12 U.S.C. 5519(b).

(f) Effective date means, in connection with a covered order, the effective date as identified in the covered order; provided that if no other effective date is specified, then the date on which the covered order was issued shall be treated as the effective date for purposes of this subpart. If the issuing agency or a court stays or otherwise suspends the effectiveness of the covered order, the effective date shall be delayed until such time as the stay or suspension of effectiveness is lifted.

(g) Identifying information means existing information available to the covered nonbank that uniquely identifies the covered nonbank, including the entity’s legal name, State (or other jurisdiction) of incorporation or organization, principal place of business address, any doing business as or fictitious business names, and any unique identifiers issued by a government agency or standards organization.

(h) Insured depository institution has the same meaning as in 12 U.S.C. 5301(18)(A).

(i) Local agency means a regulatory or enforcement agency or authority of a county, city (whether general law or chartered), city and county, municipal corporation, district, or other political subdivision of a State, other than a State agency.

(j) NMLS means the Nationwide Multistate Licensing System.

(k) NMLS-published covered order means a covered order that is published on the NMLS Consumer Access website, www.NMLSConsumerAccess.org, except that no covered order issued or obtained at least in part by the Bureau shall be an NMLS-published covered order.

(l) Order includes any written order or judgment issued by an agency or court in an investigation, matter, or proceeding.

(m) Public means, with respect to a covered order or any portion thereof, published by the issuing agency or court, or required by any provision of Federal, State, or local law, rule, or order to be published by the issuing agency or court. The term does not include orders or portions of orders that constitute confidential supervisory information of any Federal, State, or local agency.

(n) Registered entity means any person registered or required to be registered under this subpart.

(o) Remain(s) in effect means, with respect to any covered order, that the covered nonbank remains subject to public provisions that impose obligations on the covered nonbank to take certain actions or to refrain from taking certain actions based on an alleged violation of a covered law.

(p) State agency means the attorney general (or the equivalent thereof) of any State and any other State regulatory or enforcement agency or authority.

(q) Supervised registered entity means a registered entity that is subject to supervision and examination by the Bureau pursuant to 12 U.S.C. 5514(a) except as provided in paragraphs (1)–(4) below. For purposes of this definition, the term “subject to supervision and examination by the Bureau pursuant to 12 U.S.C. 5514(a)” includes an entity that qualifies as a larger participant of a market for consumer financial products or services under any rule issued by the Bureau pursuant to 12 U.S.C. 5514(a)(1)(B) and (a)(2), or that is subject to an order issued by the Bureau pursuant to 12 U.S.C. 5514(a)(1)(C). The term “supervised registered entity” does not include:

(1) A service provider that is subject to Bureau examination and supervision solely in its capacity as a service provider and that is not otherwise subject to Bureau supervision and examination;

(2) A motor vehicle dealer that is predominantly engaged in the sale and servicing of motor vehicles, the leasing and servicing of motor vehicles, or both, within the meaning of 12 U.S.C. 5519(a), except to the extent such a person engages in functions that are excepted from the application of 12 U.S.C. 5519(a) as described in 12 U.S.C. 5519(b);

(3) A person that qualifies as a covered person based solely on conduct that is the subject of, and that is not otherwise exempted from, an exclusion from the Bureau’s supervisory authority under 12 U.S.C. 5517; or

(4) A person with less than $5 million in annual receipts resulting from offering or providing all consumer financial products and services described in 12 U.S.C. 5514(a). For purposes of this exclusion:

(i) The term “annual receipts” has the same meaning as that term has in 12 CFR 1090.104(a), including 12 CFR 1090.104(a)(i)–(iii); and

(ii) A person’s receipts from offering or providing a consumer financial product or service subject to a larger participant rule under 12 U.S.C. 5514(a)(1)(B) count as receipts for purposes of the exclusion in this paragraph (q)(4) regardless of whether the person qualifies as a larger participant.