[Federal Register Volume 78, Number 143 (Thursday, July 25, 2013)]
[Notices]
[Pages 44930-44931]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-17851]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No CFPB-2013-0023]


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 approval for an existing information collection titled, Fair Credit 
Reporting Act (Regulation V) 12 CFR 1022.

DATES: Written comments are encouraged and must be received on or 
before September 23, 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.
     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: Fair Credit Reporting Act (Regulation V) 12 
CFR 1022.
    OMB Control Number: 3170-0002.
    Type of Review: Extension without change of a previously approved 
collection.
    Affected Public: Businesses or other for-profits (insured 
depository institutions and credit unions with total assets of more 
than $10 billion and their depository affiliates).
    Estimated Number of Respondents: 155\1\.
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    \1\ The Bureau allocated half of the Federal Trade Commission 
(FTC) burden amount after subtracting the burden which the FTC has 
attributed to itself for motor vehicle dealers. Section 1029 of the 
Dodd-Frank Act exempts certain motor vehicle dealers from the 
Bureau's enforcement authority. However, due to the difficulty of 
making a reliable estimate of those dealers, the FTC has attributed 
to itself the PRA burden for all motor vehicle dealers. This 
attribution does not change the actual enforcement authority of 
either the FTC or the CFPB.
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    Estimated Total Annual Burden Hours: 4,737,120.
    Abstract: The consumer disclosures included in Regulation V are 
designed to alert consumers that a financial institution furnished 
negative information about them to a consumer reporting agency, that 
they have a right to opt out of receiving marketing materials and 
credit or insurance offers, that their credit report was used in 
setting the material terms of credit that may be less favorable than 
the terms offered to consumers with better credit histories, that they 
maintain certain rights with respect to a theft of their identity that 
they reported to a consumer reporting agency, that they maintain rights 
with respect to knowing what is in their consumer reporting agency 
file, that they can request a free credit report, and that they can 
report a theft of their identity to the CFPB. Consumers then can use 
the information provided to consider how and when to check and use 
their credit reports.
    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 will 
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. In this regard, the Bureau especially 
appreciates comments providing insights into the time and effort 
(``burden'') for covered entities to comply with the recordkeeping and

[[Page 44931]]

disclosure requirements of Regulation V. Comments submitted in response 
to this notice will be summarized and/or included in the request for 
Office of Management and Budget (OMB) approval. All comments will 
become a matter of public record.

    Dated: July 18, 2013.
Nellisha Ramdass,
Acting Deputy Chief Information Officer, Bureau of Consumer Financial 
Protection.
[FR Doc. 2013-17851 Filed 7-24-13; 8:45 am]
BILLING CODE 4810-AM-P