[Federal Register Volume 76, Number 8 (Wednesday, January 12, 2011)]
[Notices]
[Pages 2197-2198]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-400]


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DEPARTMENT OF THE TREASURY


Office of Thrift Supervision

Identity Theft Red Flags and Address Discrepancies Under the Fair 
and Accurate Credit Transactions Act of 2003

AGENCY: Office of Thrift Supervision (OTS), Treasury.

ACTION: Notice and request for comment.

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SUMMARY: The proposed information collection request (ICR) described 
below has been submitted to the Office of Management and Budget (OMB) 
for review and approval, as required by the Paperwork Reduction Act of 
1995, 44 U.S.C. 3507. OTS is soliciting public comments on the 
proposal.

DATES: Submit written comments on or before February 11, 2011. A copy 
of this ICR, with applicable supporting documentation, can be obtained 
from RegInfo.gov at http://www.reginfo.gov/public/do/PRAMain.

ADDRESSES: Send comments, referring to the collection by title of the 
proposal or by OMB approval number, to OMB and OTS at these addresses: 
Office of Information and Regulatory Affairs, Attention: Desk Officer 
for OTS, U.S. Office of Management and Budget, 725 17th Street, NW., 
Room 10235, Washington, DC 20503, or by fax to (202) 393-6974; and 
Information Collection Comments, Chief Counsel's Office, Office of 
Thrift Supervision, 1700 G Street, NW., Washington, DC 20552, by fax to 
(202) 906-6518, or by e-mail to [email protected]. 
OTS will post comments and the related index on the OTS Internet Site 
at http://www.ots.treas.gov. In addition, interested persons may 
inspect comments at the Public Reading Room, 1700 G Street, NW., 
Washington, DC 20552 by appointment. To make an appointment, call (202) 
906-5922, send an e-mail to public.info@ots.treas.gov">public.info@ots.treas.gov, or send a 
facsimile transmission to (202) 906-7755.

FOR FURTHER INFORMATION CONTACT: For further information or to obtain a 
copy of the submission to OMB, please contact Ira L. Mills at, 
[email protected], or call (202) 906-6531, or facsimile number 
(202) 906-6518, Regulations and Legislation Division, Chief Counsel's 
Office, Office of Thrift Supervision, 1700 G Street, NW., Washington, 
DC 20552.

SUPPLEMENTARY INFORMATION: OTS may not conduct or sponsor an 
information collection, and respondents are not required to respond to 
an information collection, unless the information collection displays a 
currently valid OMB control number. As part of the approval process, we 
invite comments on the following information collection.
    Title of Proposal: Identity Theft Red Flags and Address 
Discrepancies under the Fair and Accurate Credit Transactions Act of 
2003.
    OMB Number: 1550-0113.
    Form Number: N/A.
    Description: The Fair and Accurate Credit Transactions Act of 2003 
(FACT

[[Page 2198]]

Act) Section 114 amends section 615 of the Fair Credit Reporting Act 
(FCRA) to require the OTS, Office of the Comptroller of the Currency, 
Federal Reserve Board, Federal Deposit Insurance Corporation, National 
Credit Union Administration, and Federal Trade Commission (Agencies) to 
issue jointly guidelines for financial institutions and creditors 
regarding identity theft with respect to their account holders and 
customers. In developing the guidelines, the Agencies must identify 
patterns, practices, and specific forms of activity that indicate the 
possible existence of identity theft. The regulations require each 
financial institution and creditor to establish reasonable policies and 
procedures for implementing the guidelines to identify possible risks 
to account holders or customers or to the safety and soundness of the 
institution or creditor.
    The FACT Act Section 315 amends section 605 of the FCRA to require 
the Agencies to issue joint regulations providing guidance regarding 
reasonable policies and procedures that a user of consumer reports must 
employ when a user receives a notice of address discrepancy from a 
consumer reporting agency (CRA). The regulations describe reasonable 
policies and procedures for users of consumer reports to enable a user 
to form a reasonable belief that it knows the identity of the person 
for whom it has obtained a consumer report, and reconcile the address 
of the consumer with the CRA, if the user establishes a continuing 
relationship with the consumer and regularly and in the ordinary course 
of business furnishes information to the CRA.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit.
    Estimated Number of Respondents: 739.
    Estimated Frequency of Response: On occasion.
    Estimated Total Burden: 11,824 hours.
    Clearance Officer: Ira L. Mills, (202) 906-6531, Office of Thrift 
Supervision, 1700 G Street, NW., Washington, DC 20552.

    Dated: January 6, 2011.
Ira L. Mills,
Paperwork Clearance Officer, Office of Chief Counsel, Office of Thrift 
Supervision.
[FR Doc. 2011-400 Filed 1-11-11; 8:45 am]
BILLING CODE 6720-01-P