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Rules and Regulations
Federal Register Vol. 86, No. 160
Monday, August 23, 2021

This section of the FEDERAL REGISTER
contains regulatory documents having general applicability and legal effect, most of which are keyed to and codified in the Code of Federal Regulations, which is published under 50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by the Superintendent of Documents.

BUREAU OF CONSUMER FINANCIAL
PROTECTION
12 CFR Part 1026
Technical Specifications for Credit Card Agreement and Data Submissions Required Under TILA and the CARD Act Regulation Z
Bureau of Consumer Financial Protection.
ACTION: Notification of technical specifications; procedural rule.
AGENCY:

Certain credit card issuers must submit credit card agreements and data to the Bureau of Consumer Financial Protection Bureau under the Truth in Lending Act TILA and the Credit Card Accountability Responsibility and Disclosure Act of 2009 CARD Act. The Bureau is issuing new technical specifications for complying with those submission requirements. Credit card issuers will make the required submissions under TILA and the CARD Act through the Bureaus Collect website. These technical specifications include registration information and the URL for the website at which issuers or their designees can submit the required information.

SUMMARY:

This notification of technical specifications and procedural rule becomes effective on August 23, 2021.
Issuers must make submissions using the Collect website, in accordance with these technical specifications.
FOR FURTHER INFORMATION CONTACT:
Yaritza Velez, Counsel or Caroline Hong, Senior Counsel, Office of Regulations, at 2024357700 or https
reginquiries.consumerfinance.gov. For technical assistance regarding the Collect website and submission system, contact Collect_Support@cfpb.gov. If you require this document in an alternative electronic format, please contact CFPB_Accessibility@cfpb.gov.
SUPPLEMENTARY INFORMATION:

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I. Submission Requirements A. Submission of Data on Credit Card Pricing and Availability Terms of Credit Card Plans Survey The Statute In 1988, Congress amended section 136 of the Truth in Lending Act TILA
to require the Board of Governors of the Federal Reserve System Board to collect certain credit card price and availability information from a sample of credit card issuers and report this information to Congress and make it available to the public.1 The responsibility to collect this information, through what is called the Terms of Credit Card Plans TCCP
Survey, was transferred to the Bureau in 2011.2
Specifically, TILA section 136b requires the Bureau to collect, on a semiannual basis, credit card price and availability information, including the information required to be disclosed under section 127c of TILA, from a broad sample of financial institutions that offer credit card services. Section 127c of TILA lists requirements for disclosures in connection with credit and charge card applications and solicitations.3
TILA section 136b also requires that the sample of TCCP Survey respondents include the 25 largest issuers of credit cards and no less than 125 additional financial institutions selected by the Bureau in a manner that ensures an equitable geographic distribution within the sample and the representation of a wide spectrum of institutions within the 1 Fair Credit and Charge Card Disclosure Act of 1988 FCCCDA, Public Law 100583, section 5, 102 Stat. 2960, 2967 1988 adding section 136b of TILA. TILA section 136b is codified at 15
U.S.C. 1646b.
2 Dodd-Frank Wall Street Reform and Consumer Protection Act Dodd-Frank Act, Public Law 111
203, tit. X, section1100A2, 124 Stat. 1376, 2107
2010. The transfer of this authority, as a consumer protection function under TILA, became effective on July 21, 2011. See Dodd-Frank Act section 1061, 124 Stat. 20352039 consumer financial protection functions to be transferred to the Bureau as of a designated transfer date; 75 FR 57252 Sept. 20, 2010 setting transfer date.
3 TILA section 127c requires issuers to disclose, among other things, the annual percentage rate for purchases must state if it is a variable rate; the length of the grace period; the name or description of the balance computation method; the fee for issuance or availability membership fee; the minimum finance charge; the transaction fee for purchases; the transaction fee for cash advances; the fee for late payment; and the fee for exceeding the credit limit. 15 U.S.C. 1637c.

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sample.4 Generally, the Bureau sends an email to each selected issuer requesting that it complete the TCCP Survey.
Issuers that do not receive such an email from the Bureau do not need to complete the TCCP Survey.5
There are no implementing regulations for the core TCCP Survey collection requirement in TILA section 136b. Issuers are required to submit their information to the Bureau in accordance with such regulations or orders as the Bureau may prescribe. 6
The Submission Process In 1990, the Board implemented a Report of Terms of Credit Card Plans Survey FR 2572, in the form of a spreadsheet, to collect the TCCP Survey data elements from financial institutions issuers participating in the Survey.7
The Board collected TCCP Survey responses using the FR 2572 form until 2011, when the collection of information for the TCCP Survey was formally transferred to the Bureau.8 The Bureau has also used the FR 2572 form to collect information from selected issuers for the TCCP Survey.9 TCCP
Survey data must be reported twice a year, as of January 31 and July 31.10 If selected by the Bureau to complete the TCCP Survey, an issuer would need to complete its Survey within 10 business days of the end of the Survey date e.g., February 14 or August 14, respectively.
The information provided by the issuer 4 15

U.S.C. 1646b.
of Consumer Fin. Prot., CollectTCCP
User Guide 2 Jan. 2019, https
files.consumerfinance.gov/f/documents/TCCP_
User_Guide_Final.pdf.
6 15 U.S.C. 1646b3.
7 See Bureau of Consumer Fin. Prot., Supporting Statement Part A: Report of Terms of Credit Card Plans Form FR 2572 OMB Control Number: 3170
0001 1 uploaded May 29, 2019, https
www.reginfo.gov/public/do/
DownloadDocument?objectID=91971901.
8 See Office of Mgmt. & Budget, Notice of Office of Management and Budget Action Oct. 24, 2011, https www.reginfo.gov/public/do/
PRAViewICR?ref_nbr=201110-3170-006
approving transfer of FR 2572 from the Board to the Bureau.
9 See, e.g., 84 FR 24764 May 29, 2019 notice of and requesting comments for renewal of Office of Management and Budget OMB approval for existing Report of Terms of Credit Card Plan information collection. The FR 2572 form is currently on the Bureaus website at https
files.consumerfinance.gov/f/documents/bcfp_tccpsurvey_form-2572_instructions.pdf.
10 Bureau of Consumer Fin. Prot., Report of Terms of Credit Card PlansInstructions FR 2572, page 1, https files.consumerfinance.gov/f/documents/
bcfp_tccp-survey_form-2572_instructions.pdf.
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