[Federal Register Volume 80, Number 129 (Tuesday, July 7, 2015)]
[Notices]
[Pages 38808-38809]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-16538]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Procedures To Enhance the Accuracy and
Integrity of Information Furnished to Consumer Reporting Agencies Under
Section 312 of the Fair and Accurate Credit Transactions Act
AGENCY: Office of the Comptroller of the Currency, 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 take this opportunity to comment on a continuing
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 OMB control number.
The OCC is soliciting comment concerning the renewal of its
information collection titled, ``Procedures to Enhance the Accuracy and
Integrity of Information Furnished to Consumer Reporting Agencies under
Section 312 of the Fair and Accurate Credit Transactions Act (FACT
Act).''
DATES: Comments must be received by September 8, 2015.
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: 1557-0238, 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
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: Shaquita Merritt, OCC Clearance
Officer, (202) 649-5490, for persons who are deaf or hard of hearing,
TTY, (202) 649-5597, Legislative and Regulatory Activities Division,
Office of the Comptroller of the Currency, 400 7th Street, SW.,
Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal
agencies must obtain approval from OMB for each collection of
information they conduct or sponsor. ``Collection of information'' is
defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency
requests and requirements that members of the public submit reports,
keep records, or provide information to a third party. Section
3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A)) requires Federal
agencies to provide a 60-day notice in the Federal Register concerning
each proposed collection of
[[Page 38809]]
information, including each proposed extension of an existing
collection of information, before submitting the collection to OMB for
approval. To comply with this requirement, the OCC is publishing notice
of the proposed extension of this collection of information.
Title: Procedures to Enhance the Accuracy and Integrity of
Information Furnished to Consumer Reporting Agencies under Section 312
of the Fair and Accurate Credit Transactions Act (FACT Act).
OMB Control No.: 1557-0238.
Description: Section 312 of the Fair and Accurate Credit
Transactions Act of 2003 (FACT Act) required the issuance of guidelines
for use by furnishers regarding the accuracy and integrity of the
information about consumers that they furnish to consumer reporting
agencies and to prescribe regulations requiring furnishers to establish
reasonable policies and procedures for implementing the guidelines.
Section 312 also required the issuance of regulations identifying the
circumstances under which a furnisher must reinvestigate disputes about
the accuracy of information contained in a consumer report based on a
direct request from a consumer.
Twelve CFR 1022.42(a) requires furnishers to establish and
implement reasonable written policies and procedures regarding the
accuracy and integrity of consumer information that they provide to a
consumer reporting agency (CRA).
Section 1022.43(a) permits consumers to initiate disputes directly
with the furnishers in certain circumstances. Furnishers are required
to have procedures to ensure that disputes received directly from
consumers are handled in a substantially similar manner to those
complaints received through CRAs.
Section 1022.43(f)(2) incorporates the statutory requirement that a
furnisher must notify a consumer by mail or other means (if authorized
by the consumer) not later than five business days after making a
determination that a dispute is frivolous or irrelevant. Section
1022.43(f) incorporates the statute's content requirements for the
notices.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 1,464 respondents.
Estimated Total Annual Burden: 185,443 hours.
Comments submitted in response to this notice will be summarized,
included in the request for OMB approval, and 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 burden of the
collection of information;
(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: June 30, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2015-16538 Filed 7-6-15; 8:45 am]
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