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Can you summarize 12 CFR Part 1070?
CONSUMER FINANCIAL PROTECTION BUREAU > DISCLOSURE OF RECORDS AND INFORMATION
Short Summary
The provided legal document content covers the disclosure of records and information by the Consumer Financial Protection Bureau (CFPB). It defines terms related to disclosure, outlines the responsibilities and authorities of key personnel within the CFPB, and clarifies the definition of financial institution. The documents establish the Chief Operating Officer as the custodian of CFPB records and prohibit unauthorized disclosure by employees or former employees. Another document governs the service of summonses and complaints to the CFPB and its employees, specifying that only the General Counsel is authorized to receive them. The document outlines procedures for personal service of process and clarifies that acceptance of service does not constitute an admission or waiver. Additionally, the documents cover regulations implementing the Freedom of Information Act (FOIA) for the CFPB, providing procedures for requesting access to CFPB records and guidelines for responding to requests. They also govern procedures for subpoenas, court orders, or other requests for CFPB information, specifying that only the General Counsel is authorized to receive them. The document outlines the types of records that can be requested and the procedure for seeking official information in proceedings where the CFPB is not a party. It further outlines considerations for compliance with demands or requests, including burden on resources and interference with ongoing investigations. The document also prohibits CFPB employees or former employees from providing expert or opinion testimony based on information acquired in their official capacity, except on behalf of specific entities. Lastly, the document pertains to the Privacy Act and outlines procedures for individuals to request access to, amendment of, and accounting of records maintained by the CFPB. It covers the CFPB’s obligations in responding to requests, disclosure of records to authorized individuals or agencies, and the availability of routine uses contained within the CFPB’s Systems of Records Notices. The document also addresses exempt systems of records, training, rules of conduct, and penalties for non-compliance within the CFPB.
Whom does it apply to?
CFPB employees, contractors, consultants, supervised financial institutions, their affiliates, and Federal or State agencies
What does it govern?
Disclosure of records and information by the Consumer Financial Protection Bureau (CFPB)
What are exemptions?
No specific exemptions are mentioned
What are the Penalties?
No specific penalties are mentioned
Jurisdiction
U.S. Federal Government