[Federal Register Volume 78, Number 93 (Tuesday, May 14, 2013)]
[Notices]
[Pages 28204-28205]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-11439]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2013-0014]


Agency Information Collection Activities; Comment Request

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for comment.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA), 
the Consumer Financial Protection Bureau (Bureau) is proposing to renew 
the Office and Management and Budget (OMB) approval for an existing 
information collection titled, Truth in Savings (Regulation DD) 12 CFR 
1030.

DATES: Written comments are encouraged and must be received on or 
before July 15, 2013 to be assured of consideration.

ADDRESSES: You may submit comments, identified by the title of the 
information collection, OMB Control Number (see below), and docket 
number (see above), by any of the following methods:
     Electronic: http://www.regulations.gov. Follow the 
instructions for submitting comments.

[[Page 28205]]

     Mail/Hand Delivery/Courier: Consumer Financial Protection 
Bureau (Attention: PRA Office), 1700 G Street NW., Washington, DC 
20552.
    Please note that comments submitted by fax or email and those 
submitted after the comment period will not be accepted. In general, 
all comments received will be posted without change to regulations.gov, 
including any personal information provided. Sensitive personal 
information, such as account numbers or social security numbers, should 
not be included.

FOR FURTHER INFORMATION CONTACT: Documentation prepared in support of 
this information collection request is available at 
www.regulations.gov. Requests for additional information should be 
directed to the Consumer Financial Protection Bureau, (Attention: PRA 
Office), 1700 G Street NW., Washington, DC 20552, (202) 435-9575, or 
email: [email protected]. Please do not submit comments to 
this mailbox.

SUPPLEMENTARY INFORMATION: 
    Title of Collection: Truth in Savings (Regulation DD) 12 CFR 1030.
    OMB Control Number: 3170-0004.
    Type of Review: Extension without change of a currently approved 
collection.
    Affected Public: Businesses or other for-profits (insured 
depository institutions with total assets of more than $10 billion and 
their depository affiliates).
    Estimated Number of Respondents: 146.
    Estimated Total Annual Burden Hours: 19,000.
    Abstract: The Truth in Savings Act (TISA), 12 U.S.C. 4301 et seq. 
was enacted to enhance economic stability, improve competition between 
depository institutions, and strengthen consumer ability to make 
informed decisions regarding deposit accounts by requiring uniformity 
in the disclosure of interest rates and fees. TISA assists consumers in 
comparing deposit accounts offered by depository institutions, 
principally through the disclosure of fees, the annual percentage 
yield, the interest rate, and other account terms. TISA and Regulation 
DD require depository institutions to disclose yields, fees, and other 
terms concerning deposit accounts to consumers at account opening, upon 
request, and when changes in terms occur. Depository institutions that 
provide periodic statements are required to include information about 
fees imposed, interest earned, and the annual percentage yield earned 
during those statement periods. TISA and Regulation DD mandate the 
methods by which institutions determine the account balance on which 
interest is calculated. They also contain rules about advertising 
deposit accounts and overdraft services. Regulation DD requires 
depository institutions subject to TISA to retain evidence of 
compliance with the regulation. These recordkeeping requirements ensure 
that records that might contain evidence of violations of TISA remain 
available to Federal enforcement agencies, as well as to private 
litigants.
    Request for Comments: Comments are invited on: (a) Whether the 
collection of information is necessary for the proper performance of 
the functions of the Bureau, including whether the information shall 
have practical utility; (b) The accuracy of the Bureau's estimate of 
the burden of the collection of information, including the validity of 
the methods and the assumptions used; (c) Ways to enhance the quality, 
utility, and clarity of the information to be collected; and (d) Ways 
to minimize the burden of the collection of information on respondents, 
including through the use of automated collection techniques or other 
forms of information technology. Please note that the Bureau may revise 
the burden estimates of these information collection requirements as it 
engages in its compliance cost research efforts and obtains data 
allowing for revisions to its burden calculation methodology. In this 
regard, the Bureau especially appreciates comments providing insights 
into the time and effort (``burden'') for supervised entities to comply 
with the recordkeeping and disclosure requirements of Regulation DD. 
Comments submitted in response to this notice will be summarized and/or 
included in the request for Office of Management and Budget approval. 
All comments will become a matter of public record.

    Dated: May 7, 2013.
Matthew Burton,
Acting Chief Information Officer, Bureau of Consumer Financial 
Protection.
[FR Doc. 2013-11439 Filed 5-13-13; 8:45 am]
BILLING CODE 4810-AM-P