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Federal Register / Vol. 86, No. 160 / Monday, August 23, 2021 / Rules and Regulations
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must be current as of the Survey date i.e., January 31 or July 31.11
Starting with the TCCP Survey cycle beginning on July 31, 2018, the Bureau has provided issuers with the voluntary option to make TCCP Survey submissions through its Collect website Collect. The Bureau has also continued to accept TCCP Survey submissions using the FR 2572 form.
For the most recent TCCP Survey cycle beginning on January 31, 2021, 83
percent of TCCP Survey submissions were made via Collect. Collect has simplified the TCCP Survey submission process for issuers in several ways. For example, instructions in Collect are tiered so that the submitter only sees relevant questions, thus minimizing the possibility for confusion or error.
Collect also avoids instructions that would lead to duplicative responsive information if the system determines that the information has already been provided earlier in the submission process. Additionally, Collect provides an audit trail that allows issuers to clearly verify whether and when each of their submissions has been received by the Bureau and review the contents of past submissions. Further, the Bureau has heard through its market outreach efforts that Survey respondents find Collect to be faster to use than the FR
2572 form, and that it allows them to more easily reference past submissions.
The Bureau has also found that Collect facilitates faster processing of TCCP
Survey submissions by Bureau staff, which in turn has led to the faster posting of the TCCP Survey results on the Bureaus website 12 and enhanced the publics ability to use the data in a timely manner. The Bureau believes that such gains to issuers, the public, and the Bureau would be increased if all TCCP
Survey respondents used Collect, and that any additional burden on Survey respondents as a result of using Collect would be minimal.
In April 2019, the Bureau also started using Collect to receive prepaid account agreements and associated information from prepaid account issuers pursuant to 12 CFR 1005.19.13 The Bureau has found that Collect also provides a streamlined electronic process for this collection that substantially benefits issuers, the public, and the Bureau.
For the reasons set forth above, issuers selected by the Bureau to 11 See, e.g., Bureau of Consumer Fin. Prot., TCCP
Survey FAQs, page 2 Question 3 last updated May 1, 2020, https files.consumerfinance.gov/f/
documents/cfpb_tccp-survey_faq.pdf.
12 The Bureaus TCCP Survey database is available at https cfpb-sites.force.com/
CreditCardPlanSurveys.
13 84 FR 7979 Mar. 6, 2019.

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participate in the TCCP Survey must submit their data using Collect, starting with the Survey cycle beginning on January 31, 2022, for which responses are due on February 14, 2022.
Afterward, issuers selected by the Bureau to participate in future TCCP
Surveys must also use Collect to submit their responses. Issuers selected by the Bureau to participate in the Survey who do not already use Collect can begin the registration process immediately.14
Upon receiving their login credentials, issuers will be able to start submitting their Survey responses using Collect.
See the Technical Specifications in part II below for additional information.
B. Quarterly Submission of Credit Card Agreements The Statute and Regulation In 2009, Congress enacted the Credit Card Accountability Responsibility and Disclosure Act CARD Act in order to establish fair and transparent practices related to the extension of credit in the credit card market.15 Section 204 of the CARD Act added new TILA section 122d to require creditors to post agreements for open-end consumer credit card plans on the creditors websites and submit those agreements to the Board for posting on a publicly available website established and maintained by the Board.16 The Board generally implemented the CARD Acts provisions in subpart G of Regulation Z.
Specifically, TILA section 122d1
requires each creditor to post its credit card agreements on its own website, and section 122d2 requires the creditor to provide its agreements to the Bureau formerly the Board. TILA section 122d3 requires the Bureau formerly the Board to establish and maintain on its publicly available website a central repository of the agreements it receives under section 122d2. The Board implemented these provisions at 12 CFR
226.58. With the adoption of the DoddFrank Act, authority to implement TILA
transferred to the Bureau,17 and the Bureau renumbered this provision in Regulation Z as 12 CFR 1026.58.18
While TILA section 122d requires that creditors provide agreements to the 14 Although TCCP Survey respondents currently have the ability to register for Collect, generally TCCP Survey respondents are not aware that they are required to participate in the Survey until receiving notification from the Bureau. As a result, new TCCP Survey Collect users would not need to register for Collect for the purpose of making TCCP
Survey submissions until that time.
15 Public Law 11124, 123 Stat. 1734 2009.
16 15 U.S.C. 1632d.
17 Public Law 111203, section 1100A, 124 Stat.
2081 2010. See also supra note 2.
18 76 FR 79768 Dec. 22, 2011.

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Bureau, it does not specify the frequency or timing for these submissions. The implementing regulations in Regulation Z provide that a card issuer must make quarterly submissions to the Bureau in the form and manner specified by the Bureau, except as otherwise provided in the regulation.19 Each submission must contain identifying information about the issuer and the agreements submitted; the credit card agreements that the issuer offered to the public as of the last business day of the preceding calendar quarter that the issuer has not previously submitted to the Bureau; any credit card agreement previously submitted to the Bureau that was amended during the preceding calendar quarter and that the issuer offered to the public as of the last business day of the preceding calendar quarter; and a notification regarding any credit card agreement previously submitted to the Bureau that the issuer is withdrawing.20
If a credit card agreement has been previously submitted to the Bureau, the agreement has not been amended, and the card issuer continues to offer the agreement to the public, no additional submission regarding that agreement is required for that calendar quarter.21
These quarterly submissions must be sent to the Bureau no later than the first business day on or after January 31, April 30, July 31, and October 31 of each year. The regulation also provides that, except in certain circumstances, card issuers must post and maintain on their publicly available websites the credit card agreements that the issuers are required to submit to the Bureau.22
The Bureaus implementing regulation at 12 CFR 1026.58c8
provides requirements for the form and content of the quarterly credit card agreement submissions. One such requirement specifies that for each submitted agreement, the pricing information must be set forth in a single addendum to the agreement. 23 The term agreement or credit card agreement is defined as the written document or documents evidencing the terms of the legal obligation, or the 19 12 CFR 1026.58c1. A credit card issuer is not required to submit a credit card agreement to the Bureau pursuant to 12 CFR 1026.58, if it qualifies for the de minimis exception in 12 CFR
1026.58c5, the private label credit card exception in 12 CFR 1026.58c6, or the product testing exception in 12 CFR 1026.58c7.
20 12 CFR 1026.58c1i through iv.
21 12 CFR 1026.58c3.
22 12 CFR 1026.58d.
23 12 CFR 1026.58c8iiA. See also 12 CFR
1026, Comment 58c82 Pricing information must be set forth in the separate addendum described in 1026.58c8iiA even if it is also stated elsewhere in the agreement..

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