12 CFR § 1071.304 - Settlement.

---
identifier: "/us/cfr/t12/s1071.304"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 1071.304 - Settlement."
title_number: 12
title_name: "Banks and Banking"
section_number: "1071.304"
section_name: "Settlement."
chapter_name: "CONSUMER FINANCIAL PROTECTION BUREAU"
part_number: "1071"
part_name: "RULE IMPLEMENTING EQUAL ACCESS TO JUSTICE ACT"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 504."
regulatory_source: "77 FR 39119, June 29, 2012, unless otherwise noted."
cfr_part: "1071"
---


# 1071.304 Settlement.

The applicant and Bureau counsel may agree on a proposed settlement of the award before final action on the application, either in connection with a settlement of the underlying proceeding or after the underlying proceeding has been concluded, in accordance with the Bureau's standard settlement procedures. If a prevailing party and Bureau counsel agree on a proposed settlement of an award before an application has been filed, the application shall be filed with the proposed settlement. If a proposed settlement of an underlying proceeding provides that each side shall bear its own expenses and the settlement is accepted, no application may be filed.