[Federal Register Volume 83, Number 63 (Monday, April 2, 2018)]
[Notices]
[Pages 14104-14105]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-06580]
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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.''
DATES: Comments must be received by June 1, 2018.
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, 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 or, for persons who are deaf or hearing impaired, TTY, (202) 649-
5597. 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 include 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 or, for persons who are deaf or hearing
impaired, TTY, (202) 649-5597, Legislative and Regulatory Activities
Division, Office of the Comptroller of the Currency, 400 7th Street,
SW, Suite 3E-218, 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 that 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 part 44 requires federal agencies to provide a 60-day
notice in the Federal Register concerning each proposed collection of
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.
Type of Review: Regular.
[[Page 14105]]
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) requires a furnisher to conduct a reasonable
investigation of a dispute initiated directly by a consumer 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.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 1,133 respondents.
Estimated Total Annual Burden: 185,603 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: March 26, 2018.
Karen Solomon,
Acting Senior Deputy Comptroller and Chief Counsel.
[FR Doc. 2018-06580 Filed 3-30-18; 8:45 am]
BILLING CODE 4810-33-P