[Federal Register Volume 78, Number 178 (Friday, September 13, 2013)]
[Notices]
[Pages 56771-56772]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-22240]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Affiliate Marketing
AGENCIES: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other Federal
agencies to comment on the renewal of an information collection, as
required by the Paperwork Reduction Act of 1995. An agency may not
conduct or sponsor, and a respondent is not required to respond to, an
information collection unless it displays a currently valid Office of
Management and Budget (OMB) control number. The OCC is soliciting
comment concerning the renewal of an information collection titled,
``Affiliate Marketing.''
DATES: Comments must be submitted on or before November 12, 2013.
ADDRESSES: Because paper mail in the Washington, DC area and at the OCC
is subject to delay, commenters are encouraged to submit comments by
email if possible. Comments may be sent to: Legislative and Regulatory
Activities Division, Office of the Comptroller of the Currency,
Attention: 1557-0230, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-
11, Washington, DC 20219. In addition, comments may be sent by fax to
(571) 465-4326 or by electronic mail to [email protected].
You may personally inspect and photocopy comments at the OCC, 400 7th
Street SW., Washington, DC 20219. For security reasons, the OCC
requires that visitors make an appointment to inspect comments. You may
do so by calling (202) 649-6700. Upon arrival, visitors will be
required to present valid government-issued photo identification and to
submit to security screening in order to inspect and photocopy
comments.
All comments received, including attachments and other supporting
materials, are part of the public record and subject to public
disclosure. Do not enclose any information in your comment or
supporting materials that you consider confidential or inappropriate
for public disclosure.
FOR FURTHER INFORMATION CONTACT: You may request additional information
by contacting: Johnny Vilela or Mary H. Gottlieb, OCC Clearance
Officers, (202) 649-5490, Legislative and Regulatory Activities
Division, Office of the Comptroller of the Currency, 400 7th Street
SW., Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC is seeking renewal of the following
information collection:
Title: Fair Credit Reporting Affiliate Marketing.
OMB Control No.: 1557-0230.
Frequency of Response: On occasion.
[[Page 56772]]
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 166,444.
Total Annual Burden: 17,189 hours.
Description: Section 214 of the FACT Act,\1\ which added section
624 to the Fair Credit Reporting Act (FCRA),\2\ generally prohibits a
person from using certain information received from an affiliate to
make a solicitation for marketing purposes to the consumer, unless the
consumer is given notice and an opportunity and simple method to opt
out of making such solicitations. Section 214 also requires the
Agencies,\3\ the Securities and Exchange Commission (SEC), and the
Federal Trade Commission (FTC), in consultation and coordination with
each other, to issue regulations implementing section 214 that, to the
extent possible, are consistent and comparable.
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\1\ Fair and Accurate Credit Transactions Act of 2003, Public
Law 108-159, 117 Stat. 1952 (December 4, 2003).
\2\ 15 U.S.C. 1681 et seq.
\3\ OCC, Board of Governors of the Federal Reserve System, and
the Federal Deposit Insurance Corporation.
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Administration of these regulations, which were codified by the OCC
at 12 CFR 41.20-41.28 and that have not changed since they were last
cleared by OMB under the PRA, has been transferred to the Bureau of
Consumer Financial Protection (CFPB) and are now found at 12 CFR
1022.20-1022.27. Title X of the Dodd-Frank Wall Street Reform and
Consumer Protection Act,\4\ (Dodd-Frank Act) transferred the
regulations and the CFPB republished them (76 FR 79308 (December 21,
2011)). The burden estimates have been revised to remove the burden
attributable to OCC-regulated institutions with over $10 billion in
total assets, now carried by CFPB pursuant to section 1025 of the Dodd-
Frank Act. The OCC retains enforcement authority and carries burden for
those institutions under its supervision with total assets of $10
billion or less.
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\4\ Public Law 111-203, 124 Stat. 1955, July 21, 2010.
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Financial institutions use the required notices to inform consumers
about their rights under section 214 of the FACT Act. Consumers use the
notices to decide if they want to receive solicitations for marketing
purposes or opt out. Financial institutions use the consumers' opt out
responses to determine the permissibility of making a solicitation for
marketing purposes to consumers.
If a person receives certain consumer eligibility information from
an affiliate, the person may not use that information to make
solicitations to the consumer about its products or services, unless
the consumer is given notice and a simple method to opt out of such use
of the information, and the consumer does not opt out. Exceptions
include, a person using eligibility information: (1) To make
solicitations to a consumer with whom the person has a pre-existing
business relationship; (2) to perform services for another affiliate
subject to certain conditions; (3) in response to a communication
initiated by the consumer; or (4) to make a solicitation that has been
authorized or requested by the consumer. A consumer's affiliate
marketing opt-out election must be effective for a period of at least
five years. Upon expiration of the opt-out period, the consumer must be
given a renewal notice and an opportunity to renew the opt-out before
information received from an affiliate may be used to make
solicitations to the consumer.
Comments: Comments submitted in response to this notice will be
summarized and included in the request for OMB approval. All comments
will become a matter of public record. Comments are invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the OCC, including whether the
information has practical utility;
(b) The accuracy of the OCC's estimate of the information
collection burden;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of the collection on respondents,
including through the use of automated collection techniques or other
forms of information technology; and
(e) Estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: September 6, 2013.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 2013-22240 Filed 9-12-13; 8:45 am]
BILLING CODE 4810-33-P