[Federal Register Volume 77, Number 43 (Monday, March 5, 2012)]
[Notices]
[Pages 13127-13128]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: C1-2012-2665]
=======================================================================
-----------------------------------------------------------------------
FEDERAL TRADE COMMISSION
Agency Information Collection Activities; Proposed Collection;
Comment Request; Extension
Correction
In notice document 2012-2665 appearing on pages 6114-6122 in the
issue of February 7, 2012, make the following correction:
On page 6117, the table entitled ``Regulation M: Disclosures--
Burden Hours'' should appear as follows:
Regulation M: Disclosures--Burden Hours
--------------------------------------------------------------------------------------------------------------------------------------------------------
Setup/monitoring Transaction-related
---------------------------------------------------------------------------------------------------------------
Average Total setup/ Average
Disclosures burden per monitoring Number of burden per Total Total burden
Respondents respondent burden transactions transaction transaction (hours)
(hours) (minutes) (minutes) burden (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Motor Vehicle Leases \1\................ 29,442 1 29,442 1,972,614 .50 16,438 45,880
Other Leases \2\........................ 25,000 .50 12,500 250,000 .25 1,042 13,542
Advertising............................. 13,471 .50 6,736 538,840 .25 2,245 8,981
---------------------------------------------------------------------------------------------------------------
[[Page 13128]]
Total............................... .............. .............. .............. .............. .............. .............. 68,403
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ This category focuses on consumer vehicle leases. Vehicle leases are subject to more lease disclosure requirements (pertaining to computation of
payment obligations) than other lease transactions. (Only consumer leases for more than four months are covered.) See 15 U.S.C. 1667(1); 12 CFR Sec.
1013.2(e)(1). Leases up to $50,000 (plus an annual adjustment) are now covered, which increases the breadth of transactions subject to the FTC's
jurisdiction under Regulation M. This increase, however, is more than offset by the FTC now sharing PRA burden with the CFPB, which thus yields a net
decrease from past FTC estimates of the number of transactions.
\2\ This category focuses on all types of consumer leases other than vehicle leases. It includes leases for computers, other electronics, small
appliances, furniture, and other transactions. (Only consumer leases for more than four months are covered.) See 15 U.S.C. 1667(1); 12 CFR
1013.2(e)(1). The figures shown for respondents and transactions reflect a net decrease from prior FTC estimates, given current market conditions and
the new PRA burden sharing with the CFPB while also recognizing that the CLA and Regulation M now cover leases up to $50,000 (plus an annual
adjustment).
[FR Doc. C1-2012-2665 Filed 3-2-12; 8:45 am]
BILLING CODE 1505-01-D