[Federal Register Volume 80, Number 129 (Tuesday, July 7, 2015)]
[Notices]
[Pages 38808-38809]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-16538]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Procedures To Enhance the Accuracy and 
Integrity of Information Furnished to Consumer Reporting Agencies Under 
Section 312 of the Fair and Accurate Credit Transactions Act

AGENCY: Office of the Comptroller of the Currency, Treasury.

ACTION: Notice and request for comment.

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SUMMARY: The OCC, 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 a continuing 
information collection, as required by the Paperwork Reduction Act of 
1995.
    An agency may not conduct or sponsor, and a respondent is not 
required to respond to, an information collection unless it displays a 
currently valid OMB control number.
    The OCC is soliciting comment concerning the renewal of its 
information collection titled, ``Procedures to Enhance the Accuracy and 
Integrity of Information Furnished to Consumer Reporting Agencies under 
Section 312 of the Fair and Accurate Credit Transactions Act (FACT 
Act).''

DATES: Comments must be received by September 8, 2015.

ADDRESSES:  Because paper mail in the Washington, DC area and at the 
OCC is subject to delay, commenters are encouraged to submit comments 
by email, if possible. Comments may be sent to: Legislative and 
Regulatory Activities Division, Office of the Comptroller of the 
Currency, Attention: 1557-0238, 400 7th Street SW., Suite 3E-218, Mail 
Stop 9W-11, Washington, DC 20219. In addition, comments may be sent by 
fax to (571) 465-4326 or by electronic mail to [email protected]. 
You may personally inspect and photocopy comments at the OCC, 400 7th 
Street SW., Washington, DC 20219. For security reasons, the OCC 
requires that visitors make an appointment to inspect comments. You may 
do so by calling (202) 649-6700. Upon arrival, visitors will be 
required to present valid government-issued photo identification and 
submit to security screening in order to inspect and photocopy 
comments.
    All comments received, including attachments and other supporting 
materials, are part of the public record and subject to public 
disclosure. Do not enclose any information in your comment or 
supporting materials that you consider confidential or inappropriate 
for public disclosure.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance 
Officer, (202) 649-5490, for persons who are deaf or hard of hearing, 
TTY, (202) 649-5597, Legislative and Regulatory Activities Division, 
Office of the Comptroller of the Currency, 400 7th Street, SW., 
Washington, DC 20219.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal 
agencies must obtain approval from OMB for each collection of 
information they conduct or sponsor. ``Collection of information'' is 
defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency 
requests and requirements that members of the public submit reports, 
keep records, or provide information to a third party. Section 
3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A)) requires Federal 
agencies to provide a 60-day notice in the Federal Register concerning 
each proposed collection of

[[Page 38809]]

information, including each proposed extension of an existing 
collection of information, before submitting the collection to OMB for 
approval. To comply with this requirement, the OCC is publishing notice 
of the proposed extension of this collection of information.
    Title: Procedures to Enhance the Accuracy and Integrity of 
Information Furnished to Consumer Reporting Agencies under Section 312 
of the Fair and Accurate Credit Transactions Act (FACT Act).
    OMB Control No.: 1557-0238.
    Description: Section 312 of the Fair and Accurate Credit 
Transactions Act of 2003 (FACT Act) required the issuance of guidelines 
for use by furnishers regarding the accuracy and integrity of the 
information about consumers that they furnish to consumer reporting 
agencies and to prescribe regulations requiring furnishers to establish 
reasonable policies and procedures for implementing the guidelines. 
Section 312 also required the issuance of regulations identifying the 
circumstances under which a furnisher must reinvestigate disputes about 
the accuracy of information contained in a consumer report based on a 
direct request from a consumer.
    Twelve CFR 1022.42(a) requires furnishers to establish and 
implement reasonable written policies and procedures regarding the 
accuracy and integrity of consumer information that they provide to a 
consumer reporting agency (CRA).
    Section 1022.43(a) permits consumers to initiate disputes directly 
with the furnishers in certain circumstances. Furnishers are required 
to have procedures to ensure that disputes received directly from 
consumers are handled in a substantially similar manner to those 
complaints received through CRAs.
    Section 1022.43(f)(2) incorporates the statutory requirement that a 
furnisher must notify a consumer by mail or other means (if authorized 
by the consumer) not later than five business days after making a 
determination that a dispute is frivolous or irrelevant. Section 
1022.43(f) incorporates the statute's content requirements for the 
notices.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 1,464 respondents.
    Estimated Total Annual Burden: 185,443 hours.
    Comments submitted in response to this notice will be summarized, 
included in the request for OMB approval, and become a matter of public 
record. Comments are invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the OCC, including whether the 
information has practical utility;
    (b) The accuracy of the OCC's estimate of the burden of the 
collection of information;
    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    (d) Ways to minimize the burden of the collection on respondents, 
including through the use of automated collection techniques or other 
forms of information technology; and
    (e) Estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: June 30, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2015-16538 Filed 7-6-15; 8:45 am]
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