[Federal Register Volume 77, Number 43 (Monday, March 5, 2012)]
[Notices]
[Pages 13127-13128]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: C1-2012-2665]


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FEDERAL TRADE COMMISSION


Agency Information Collection Activities; Proposed Collection; 
Comment Request; Extension

Correction

    In notice document 2012-2665 appearing on pages 6114-6122 in the 
issue of February 7, 2012, make the following correction:
    On page 6117, the table entitled ``Regulation M: Disclosures--
Burden Hours'' should appear as follows:

                                                         Regulation M: Disclosures--Burden Hours
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                                                         Setup/monitoring                                       Transaction-related
                                         ---------------------------------------------------------------------------------------------------------------
                                                              Average      Total setup/                       Average
               Disclosures                                  burden per      monitoring       Number of      burden per         Total       Total burden
                                            Respondents     respondent        burden       transactions     transaction     transaction       (hours)
                                                              (hours)        (minutes)                       (minutes)    burden (hours)
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Motor Vehicle Leases \1\................          29,442            1             29,442       1,972,614             .50          16,438          45,880
Other Leases \2\........................          25,000             .50          12,500         250,000             .25           1,042          13,542
Advertising.............................          13,471             .50           6,736         538,840             .25           2,245           8,981
                                         ---------------------------------------------------------------------------------------------------------------

[[Page 13128]]

 
    Total...............................  ..............  ..............  ..............  ..............  ..............  ..............          68,403
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\1\ This category focuses on consumer vehicle leases. Vehicle leases are subject to more lease disclosure requirements (pertaining to computation of
  payment obligations) than other lease transactions. (Only consumer leases for more than four months are covered.) See 15 U.S.C. 1667(1); 12 CFR Sec.
  1013.2(e)(1). Leases up to $50,000 (plus an annual adjustment) are now covered, which increases the breadth of transactions subject to the FTC's
  jurisdiction under Regulation M. This increase, however, is more than offset by the FTC now sharing PRA burden with the CFPB, which thus yields a net
  decrease from past FTC estimates of the number of transactions.
\2\ This category focuses on all types of consumer leases other than vehicle leases. It includes leases for computers, other electronics, small
  appliances, furniture, and other transactions. (Only consumer leases for more than four months are covered.) See 15 U.S.C. 1667(1); 12 CFR
  1013.2(e)(1). The figures shown for respondents and transactions reflect a net decrease from prior FTC estimates, given current market conditions and
  the new PRA burden sharing with the CFPB while also recognizing that the CLA and Regulation M now cover leases up to $50,000 (plus an annual
  adjustment).

[FR Doc. C1-2012-2665 Filed 3-2-12; 8:45 am]
BILLING CODE 1505-01-D