[Federal Register Volume 78, Number 143 (Thursday, July 25, 2013)]
[Notices]
[Pages 44930-44931]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-17851]
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BUREAU OF CONSUMER FINANCIAL PROTECTION
[Docket No CFPB-2013-0023]
Agency Information Collection Activities: Comment Request
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Notice and request for comment.
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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA),
the Consumer Financial Protection Bureau (Bureau) is proposing to renew
the approval for an existing information collection titled, Fair Credit
Reporting Act (Regulation V) 12 CFR 1022.
DATES: Written comments are encouraged and must be received on or
before September 23, 2013 to be assured of consideration.
ADDRESSES: You may submit comments, identified by the title of the
information collection, OMB Control Number (see below), and docket
number (see above), by any of the following methods:
Electronic: http://www.regulations.gov. Follow the
instructions for submitting comments.
Mail/Hand Delivery/Courier: Consumer Financial Protection
Bureau (Attention: PRA Office), 1700 G Street NW., Washington, DC
20552.
Please note that comments submitted by fax or email and those submitted
after the comment period will not be accepted. In general, all comments
received will be posted without change to regulations.gov, including
any personal information provided. Sensitive personal information, such
as account numbers or social security numbers, should not be included.
FOR FURTHER INFORMATION CONTACT: Documentation prepared in support of
this information collection request is available at
www.regulations.gov. Requests for additional information should be
directed to the Consumer Financial Protection Bureau, (Attention: PRA
Office), 1700 G Street NW., Washington, DC 20552, (202) 435-9575, or
email: [email protected]. Please do not submit comments to this mailbox.
SUPPLEMENTARY INFORMATION:
Title of Collection: Fair Credit Reporting Act (Regulation V) 12
CFR 1022.
OMB Control Number: 3170-0002.
Type of Review: Extension without change of a previously approved
collection.
Affected Public: Businesses or other for-profits (insured
depository institutions and credit unions with total assets of more
than $10 billion and their depository affiliates).
Estimated Number of Respondents: 155\1\.
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\1\ The Bureau allocated half of the Federal Trade Commission
(FTC) burden amount after subtracting the burden which the FTC has
attributed to itself for motor vehicle dealers. Section 1029 of the
Dodd-Frank Act exempts certain motor vehicle dealers from the
Bureau's enforcement authority. However, due to the difficulty of
making a reliable estimate of those dealers, the FTC has attributed
to itself the PRA burden for all motor vehicle dealers. This
attribution does not change the actual enforcement authority of
either the FTC or the CFPB.
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Estimated Total Annual Burden Hours: 4,737,120.
Abstract: The consumer disclosures included in Regulation V are
designed to alert consumers that a financial institution furnished
negative information about them to a consumer reporting agency, that
they have a right to opt out of receiving marketing materials and
credit or insurance offers, that their credit report was used in
setting the material terms of credit that may be less favorable than
the terms offered to consumers with better credit histories, that they
maintain certain rights with respect to a theft of their identity that
they reported to a consumer reporting agency, that they maintain rights
with respect to knowing what is in their consumer reporting agency
file, that they can request a free credit report, and that they can
report a theft of their identity to the CFPB. Consumers then can use
the information provided to consider how and when to check and use
their credit reports.
Request for Comments: Comments are invited on: (a) Whether the
collection of information is necessary for the proper performance of
the functions of the Bureau, including whether the information will
have practical utility; (b) The accuracy of the Bureau's estimate of
the burden of the collection of information, including the validity of
the methods and the assumptions used; (c) Ways to enhance the quality,
utility, and clarity of the information to be collected; and (d) Ways
to minimize the burden of the collection of information on respondents,
including through the use of automated collection techniques or other
forms of information technology. In this regard, the Bureau especially
appreciates comments providing insights into the time and effort
(``burden'') for covered entities to comply with the recordkeeping and
[[Page 44931]]
disclosure requirements of Regulation V. Comments submitted in response
to this notice will be summarized and/or included in the request for
Office of Management and Budget (OMB) approval. All comments will
become a matter of public record.
Dated: July 18, 2013.
Nellisha Ramdass,
Acting Deputy Chief Information Officer, Bureau of Consumer Financial
Protection.
[FR Doc. 2013-17851 Filed 7-24-13; 8:45 am]
BILLING CODE 4810-AM-P