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Federal Register / Vol. 86, No. 118 / Wednesday, June 23, 2021 / Rules and Regulations The Boards meeting was widely publicized throughout the California walnut industry. All interested persons were invited to attend the meeting and participate in Board deliberations on all issues. Like all Board meetings, the September 11, 2020, meeting was a public meeting and all entities, both large and small, were able to express views on this issue. Finally, interested persons were invited to submit comments on this rule, including the regulatory and information collection impacts of this action on small businesses.
In accordance with the Paperwork Reduction Act of 1995 44 U.S.C.
chapter 35, the Orders information collection requirements have been previously approved by the OMB and assigned OMB No. 05810178 Vegetable and Specialty Crops. No changes in those requirements will be necessary as a result of this rule. Should any changes become necessary, they would be submitted to OMB for approval.
This rule will not impose any additional reporting or recordkeeping requirements on either small or large California walnut handlers. As with all Federal marketing order programs, reports and forms are periodically reviewed to reduce information requirements and duplication by industry and public sector agencies.
AMS is committed to complying with the E-Government Act, to promote the use of the internet and other information technologies to provide increased opportunities for citizen access to Government information and services, and for other purposes.
USDA has not identified any relevant Federal rules that duplicate, overlap, or conflict with this final rule.
A proposed rule concerning this action was published in the Federal Register on March 5, 2021 86 FR
12837. The Board notified all California walnut handlers of the proposed assessment rate decrease. The proposed rule was made available through the internet by USDA and the Office of the Federal Register. A 30-day comment period ending April 5, 2021, was provided for interested persons to respond to the proposal. No comments were received. Accordingly, no changes will be made to the proposed rule.
A small business guide on complying with fruit, vegetable, and specialty crop marketing agreements and orders may be viewed at: https
www.ams.usda.gov/rules-regulations/
moa/small-businesses. Any questions about the compliance guide should be sent to Richard Lower at the previously mentioned address in the FOR FURTHER
INFORMATION CONTACT section.

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After consideration of all relevant material presented, including the information and recommendation submitted by the Board and other information available, it is hereby found that this rule will tend to effectuate the declared policy of the Act.
List of Subjects in 7 CFR Part 984
Marketing agreements, Reporting and recordkeeping requirements, and Walnuts.
For the reasons set forth in the preamble, 7 CFR part 984 is amended as follows:
PART 984WALNUTS GROWN IN
CALIFORNIA
1. The authority citation for part 984
continues to read as follows:

Authority: 7 U.S.C. 601674.

2. Section 984.347 is revised to read as follows:

984.347

Assessment rate.

On and after September 1, 2020, an assessment rate of $0.0250 per kernelweight pound is established for California merchantable walnuts.
Erin Morris, Associate Administrator, Agricultural Marketing Service.
FR Doc. 202113039 Filed 62221; 8:45 am BILLING CODE P

BUREAU OF CONSUMER FINANCIAL
PROTECTION
12 CFR Chapter X
Examinations for Risks to Active-Duty Servicemembers and Their Covered Dependents Bureau of Consumer Financial Protection.
ACTION: Interpretive rule.
AGENCY:

The Bureau of Consumer Financial Protection Bureau has statutory authority to conduct examinations, at those institutions that it supervises, regarding the risks to active-duty servicemembers and their covered dependents that are presented by conduct that violates the Military Lending Act. This interpretive rule explains the basis for that authority.
DATES: This interpretive rule is effective on June 23, 2021.
FOR FURTHER INFORMATION CONTACT:
Christopher Shelton, Senior Counsel, Legal Division, 202 4357700. If you require this document in an alternative electronic format, please contact CFPB_
Accessibility@cfpb.gov.
SUMMARY:

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SUPPLEMENTARY INFORMATION:

I. Introduction The Consumer Financial Protection Act of 2010 CFPA authorizes the Bureau to conduct examinations of supervised nonbanks for the purposes of assessing and detecting risks to consumers. As explained below, the risks to active-duty servicemembers and their dependents from conduct that violates the Military Lending Act MLA
fall squarely within that category. The CFPA also authorizes the Bureau to conduct examinations of very large banks and credit unions for purposes of detecting and assessing those risks to consumers that are associated with activities subject to Federal consumer financial laws, such as the Truth in Lending Act TILA or the CFPA.1
Because conduct that violates the MLA
is associated with activities that are subject to TILA and the CFPA, that standard is also satisfied here. The Bureaus interpretation is also entirely consistent with the enforcement scheme of the MLA, which by incorporating TILAs enforcement scheme authorizes the Bureau to use formal administrative adjudications, civil enforcement actions, and other authorities to enforce the MLA. That enforcement scheme is complemented by the Bureaus use of the examination process to detect and assess risks to consumers arising from violations of the MLA. This reading also avoids an unworkable gap in Bureau examinations that can otherwise only be potentially filled by the formal enforcement process; based on the Bureaus experience, that gap leads to wasteful inefficiencies for both the Bureau and supervised institutions.
Additionally, the Bureau is no longer persuaded by counterarguments that it does not have the relevant authority, for reasons that will also be discussed below.
This part I is followed by part II, which provides some general background about the CFPA, the MLA, TILA, and the history of Bureau examinations regarding the MLA. Part III sets out the Bureaus analysis of its authority with respect to supervised nonbanks, including the statutory text;
the statutory scheme; and counterarguments that the Bureau no 1 This interpretive rule uses the terms supervised nonbank and very large bank or credit union for convenience. The more precise definitions of the persons that are subject to the Bureaus supervisory authority under sections 1024
and 1025 of the CFPA are set out in the statute. 12
U.S.C. 5514a, 5515a. The Bureau also has certain additional supervisory authority regarding service providers to these persons, and the reasoning of this interpretive rule also extends to those service providers. 12 U.S.C. 5514e, 5515d.

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