[Federal Register Volume 77, Number 78 (Monday, April 23, 2012)]
[Notices]
[Page 24182]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-9641]


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BUREAU OF CONSUMER FINANCIAL PROTECTION


Submission for OMB Review; Comment Request

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for comments.

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SUMMARY: The Bureau of Consumer Financial Protection (Bureau), 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 proposed and/or continuing information 
collections, as required by the Paperwork Reduction Act of 1995, Public 
Law 104-13 (44 U.S.C. 3507(a)(1)(D)). The Bureau is soliciting comments 
regarding the information collection requirements relating to the 
Consumer Leasing Act (CLA) enforcement actions that have been submitted 
to the Office of Management and Budget for review and approval. A copy 
of the submission may be obtained by contacting the agency contact 
listed below.

DATES: Written comments are encouraged and must be received on or 
before May 23, 2012 to be assured of consideration.

ADDRESSES: You may submit comments, identified by OMB approval No. 
3170-0006, by any of the following methods:
     Agency Contact: Consumer Financial Protection Bureau 
(Attention: PRA Office), 1700 G Street NW., Washington, DC 20552: (202) 
435-7741: [email protected].
     OMB Reviewer: Shagufta Ahmed, Office of Management and 
Budget, New Executive Office Building, Room 10235, Washington, DC 
20503; (202) 395-7873.

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to Joseph Durbala, (202) 435-7893, at the Consumer 
Financial Protection Bureau, (Attention: Joseph Durbala, PRA Office) 
1700 G Street NW., Washington, DC 20552, or through the internet at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Consumer Leasing Act (Regulation M) 12 CFR part 1013.
    OMB Number: 3170-0006.
    Abstract: Federal and state enforcement and private litigants use 
the records to ascertain whether accurate and complete disclosures of 
the cost of leases have been provided to consumers prior to 
consummation of the lease. This information provides the primary 
evidence of law violations in Consumer Leasing Act (CLA) enforcement 
actions brought by Federal agencies. Without Regulation M's 
recordkeeping requirement, the agencies' ability to enforce the CLA 
would be significantly impaired. As noted above, consumers rely upon 
the disclosures required by the CLA and Regulation M for information to 
comparison shop among leases, as well as to ascertain the true costs 
and terms of lease offers. Enforcement agencies and private litigants 
need the information in these disclosures and other requirements to 
enforce the CLA and Regulation M.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for profits.
    Estimated Number of Responses: 67,858.
    Estimated Time per Response: 1 hour 28 minutes.
    Estimated Total Annual Burden Hours: 100,058.

    Dated: April 6, 2012.
Chris Willey,
Chief Information Officer, Bureau of Consumer Financial Protection.
[FR Doc. 2012-9641 Filed 4-20-12; 8:45 am]
BILLING CODE 4810-AM-P