3 Jan 2025
🔍CFPB Proposes Rescindment of Privacy Act Records System Notice
Privacy Act of 1974; System of Records
Summary
Pursuant to the Privacy Act of 1974, and Office of Management and Budget (OMB) Circular No. A-108, the Consumer Financial Protection Bureau (CFPB) proposes to rescind existing system of records "CFPB.003 Non-Depository Institution Supervision Database." Records maintained under this system of records have been consolidated into the modified "CFPB.002 Supervision and Examination Records."
Agencies
- Consumer Financial Protection Bureau
Business Impact
$$ - Med
The rescindment affects compliance and regulatory requirements for businesses supervised by the CFPB, consolidating record-keeping practices that may influence data management protocols. Businesses must adjust to new data handling procedures by February 2025.