Title 12
SECTION 1091.101
1091.101 Definitions.
§ 1091.101 Definitions.For the purposes of this part, the following definitions apply:
Assistant Director means an Assistant Director for Supervision. If there is no Assistant Director, the Associate Director may designate an alternative Bureau employee to perform the functions of an Assistant Director under this part.
Associate Director means the Associate Director of the Bureau's Division of Supervision, Enforcement, and Fair Lending, or his or her designee. If there is no Associate Director, the Director may designate an alternative Bureau employee to perform the functions of the Associate Director under this part.
Bureau means the Bureau of Consumer Financial Protection.
Consumer means an individual or an agent, trustee, or representative acting on behalf of an individual.
Consumer financial product or service means any financial product or service, as defined in 12 U.S.C. 5481(15), that is described in one or more categories under:
(1) 12 U.S.C. 5481(15) and is offered or provided for use by consumers primarily for personal, family, or household purposes; or
(2) Clause (i), (iii), (ix), or (x) of 12 U.S.C. 5481(15)(A) and is delivered, offered, or provided in connection with a consumer financial product or service referred to in subparagraph (1) of this paragraph.
Decisional employee means any employee of the Bureau who has not engaged in:
(1) Assisting the initiating official in either determining whether to issue a Notice of Reasonable Cause, or presenting the initiating official's position in support of a Notice of Reasonable Cause, either in writing or in a supplemental oral response, to the Associate Director; or
(2) Assisting the Associate Director in the preparation of a recommended determination.
Director means the Director of the Bureau or his or her designee. If there is no Director, the term shall mean a person authorized to perform the functions of the Director under this part, or his or her designee.
Executive Secretary means the Executive Secretary of the Bureau.
Initiating official means an Assistant Director or a Bureau employee designated to act as an “initiating official” by an Assistant Director. If there is not an Assistant Director, the Associate Director may designate a Bureau employee to perform the functions of an initiating official under this part.
Nonbank covered person means, except for persons described in 12 U.S.C. 5515(a) and 5516(a):
(1) Any person that engages in offering or providing a consumer financial product or service; and
(2) Any affiliate of a person described in subparagraph (1) of this paragraph if such affiliate acts as a service provider to such person.
Notice of Reasonable Cause and Notice mean a Notice issued under § 1091.102.
Person means an individual, partnership, company, corporation, association (incorporated or unincorporated), trust, estate, cooperative organization, or other entity.
Respondent means a person who has been issued a Notice of Reasonable Cause under § 1091.102.
Response means the response to a Notice of Reasonable Cause filed by a respondent with the Associate Director under § 1091.105.