Later this year, the rules for which rulemaking authority was transferred to the CFPB by the Dodd-Frank Act will be getting new numbers. The CFPB announced in July that it plans to house those rules in chapter X of CFR title 12, meaning that the 200 series will become the 1000 series. We understand Regulation Z will become 12 CFR Part 1026, instead of Part 226, and the new numbers for the other 200 series regulations will follow a similar pattern. In addition to giving the regulations new numbers, the CFPB will be making conforming amendments to reflect the CFPB’s role and other Dodd-Frank Act changes to the underlying statutes.
The CFPB’s publication of the new 1000 series, however, does not mean the 200 series goes away. Since the Fed retains authority to issue rules for auto dealers, some of the 200 series will remain in place. That means similar regulations will have different citations, thereby adding a new layer of complexity to legal research.
We understand the CFPB already has about 30 lawyers in its regulations department. Presumably, those lawyers can be contacted at the new phone number the CFPB has posted on its website (202-435-7000).