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Federal Register / Vol. 86, No. 160 / Monday, August 23, 2021 / Rules and Regulations prospective legal obligation, between a card issuer and a consumer for a credit card account under an open-end not home-secured consumer credit plan and also includes pricing information.24
Pricing information is defined to include certain information, including credit card annual percentage rates APR and fees and charges, among other things.25 Provisions of the agreement other than the pricing information that may vary from one cardholder to another depending on the cardholders creditworthiness or State of residence or other factors may be set forth in a single addendum to the agreement separate from the pricing information addendum.26 This addendum is referred to as the variable terms addendum.
The Submission Process Under the process established by the Board that was used by the Bureau until 2015 and updated as described below in 2016, credit card issuers submit agreements and agreement information to the Bureau manually via email.27 On April 17, 2015, the Bureau issued a final rule temporarily suspending credit card issuers obligations under 12 CFR
1026.58 to submit credit card agreements to the Bureau for a period of one year i.e., four quarterly submissions, in order to reduce burden while the Bureau worked to develop a more streamlined and automated electronic submission system.28 When issuing the final rule, the Bureau explained that it believed the manual process may be unnecessarily cumbersome for issuers and may make issuers own internal tracking of previously submitted agreements difficult and noted that the process for Bureau staff to manually review, catalog, and upload new or revised agreements to the Bureaus website, and to remove outdated agreements, can extend for several months after the 24 12

CFR 1026.58b1.
CFR 1026.58b7 pricing information refers to the information listed in 12 CFR
1026.6b2i through b2xii.
26 12 CFR 1026.58c8iii.
27 See 75 FR 7658, 7923 Feb. 22, 2010 technical specifications for the quarterly credit card submission included in Attachment I to the Federal Register notice; 81 FR 19467 Apr. 5, 2016.
28 See 12 CFR 1026.58g; see also 80 FR 21153
Apr. 17, 2015. Credit card issuers obligations to post currently offered credit card agreements on their publicly available websites under 12 CFR
1026.58d, and to make agreements for open accounts available to cardholders as required by 12
CFR 1026.58e, were not affected by the suspension. See 80 FR 21153, 21155 Apr. 17, 2015; see also 81 FR 19467 Apr. 5, 2016 notice of expiration of suspension.

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quarterly submission deadline. 29 The Bureau also stated its intent to develop a more streamlined and automated electronic submission system that would both allow issuers to upload agreements directly to the Bureaus database and enable faster posting of agreements on the Bureaus website.30
The Bureau did not implement the submission system described above during the temporary one-year suspension period and instead posted updated submission instructions in 2016 to its website.31 The updated submission process, which is currently in use, allows issuers to submit agreements by emailing weblinks to the agreements instead of attaching the agreements as Portable Document Format PDF files.32 Issuers also continue to have the option to email the agreements as PDF files. However, the process for Bureau staff remains a timeconsuming, manual process that extends for several months after each quarterly submission deadline. The process also provides no audit trail or automated verification mechanism by which issuers can confirm receipt of their submissions by the Bureau each quarter and review past quarters submissions.
Soon after the one-year suspension expired, the Bureau developed and deployed Collect, which is currently used by the Bureau to receive TCCP
Survey responses on a voluntary basis and prepaid account agreements and agreement information, as explained above. For the TCCP Survey, Collect has provided a streamlined and automated electronic submission system that is less burdensome and easier for issuers to use, and that has reduced Bureau staff processing time, provided a robust audit trail for submissions, and lessened the time between the dates of issuer submissions and availability of the information to the public. For the prepaid account agreement and information submissions, the Bureau has found that Collect also provides a streamlined electronic process that benefits issuers, the public, and the Bureau.
Therefore, for these reasons, issuers making credit card agreement submissions to the Bureau on a quarterly basis must make those submissions using Collect, starting with 29 80 FR 21153, 21154 Apr. 17, 2015. The Bureaus database of credit card agreements is available at http www.consumerfinance.gov/
credit-cards/agreements/.
30 80 FR 21153, 21154 Apr. 17, 2015.
31 See 81 FR 19467 Apr. 5, 2016.
32 The current instructions for submitting credit card agreements to the Bureau are available at https files.consumerfinance.gov/f/documents/
cfpb_card-agreements-submission-instructions.pdf.

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the submissions for the fourth quarter of calendar year 2021 that are due on January 31, 2022. Subsequent submissions must also be made using Collect, on an ongoing basis. Issuers who do not already use Collect can begin the registration process immediately. All issuers required to make quarterly credit card agreement submissions to the Bureau must register for Collect by November 1, 2021. Once the issuer receives its login credentials, the issuer will have the ability to review its current submissions and start making the required submissions using Collect, starting on December 1, 2021. See the Technical Specifications in part II below for additional information.
C. Submission of College Credit Card Marketing Agreements and Data The Statute and Regulation The CARD Act also added new TILA
section 127r, which requires credit card issuers to submit an annual report to the Bureau formerly the Board containing the terms and conditions of all business, marketing, promotional agreements, and college affinity card agreements with an institution of higher education, or an alumni organization or foundation affiliated with or related to such institution, with respect to any college student credit card issued to a college student at such institution.33
This document refers to those agreements as college credit card marketing agreements. Under TILA
section 127r, the Bureau formerly the Board is obligated to make an annual report listing such information to Congress and to also make the report available to the public.34 The Board implemented these provisions at 12 CFR
226.57d. As noted above, in 2011, the Dodd-Frank Act transferred the authority to implement TILA to the Bureau.35 The Bureau renumbered this provision in Regulation Z as 12 CFR
1026.57d.36
Section 1026.57d provides that card issuers that were parties to college credit card marketing agreements in effect at any time during a calendar year must submit an annual report to the Bureau regarding those agreements in the form and manner prescribed by the Bureau and specifies the information that the report must include.37 Card 33 CARD Act, Public Law 11124, section 305, 123 Stat. 1734, 17491750. TILA section 127r is codified as 15 U.S.C. 1637r.
34 15 U.S.C. 1637r3.
35 Public Law 111203, section 1100A, 124 Stat.
2081 2010. See also supra note 2.
36 76 FR 79768 Dec. 22, 2011.
37 Specifically, section 1026.57d2 states that the annual report must include identifying
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