[Federal Register Volume 80, Number 177 (Monday, September 14, 2015)]
[Notices]
[Pages 55100-55101]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-23068]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No: CFPB-2015-0039]


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 requesting to 
renew the Office of Management and Budget (OMB) approval for an 
existing information collection, titled, ``High-Cost Mortgage and 
Homeownership Counseling Amendments to the Truth in Lending Act 
(Regulation Z).''

DATES: Written comments are encouraged and must be received on or 
before November 13, 2015 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: Consumer Financial Protection Bureau (Attention: PRA 
Office), 1700 G Street NW., Washington, DC 20552.
     Hand Delivery/Courier: Consumer Financial Protection 
Bureau (Attention: PRA Office), 1275 First Street NE., Washington, DC 
20002.
    Please note that comments submitted after the comment period will 
not be accepted. In general, all comments received will become public 
records, 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: High-Cost Mortgage and Homeownership 
Counseling Amendments to the Truth in Lending Act (Regulation Z).
    OMB Control Number: 3170-0023.
    Type of Review: Extension without change of a currently approved 
collection.
    Affected Public: Businesses and other for- and non-profit 
institutions.
    Estimated Number of Respondents: 49.
    Estimated Total Annual Burden Hours: 317.
    Abstract: The Truth in Lending Act (TILA), 15 U.S.C. 1601 et seq., 
was enacted to foster comparison credit shopping and informed credit 
decision making by requiring accurate disclosure of the costs and terms 
of credit to consumers. Creditors are subject to disclosure and other 
requirements that apply to open-end credit (e.g., revolving credit or 
credit lines) and closed-end credit (e.g., installment financing). TILA 
imposes disclosure requirements on all types of creditors in connection 
with consumer credit, including mortgage companies, finance companies, 
retailers, and credit card issuers, to ensure that consumers are fully 
apprised of the terms of financing prior to consummation of the 
transaction and, in some instances, during the loan term. It also 
imposes advertising disclosure requirements on advertisers of consumer 
credit. TILA also establishes billing error resolution procedures for 
open-end credit and limits consumer

[[Page 55101]]

liability for the unauthorized use of credit cards. An amendment to 
TILA, the Home Ownership and Equity Protection Act (HOEPA), imposes, 
among other things, various disclosure and other requirements on 
certain creditors offering high-cost mortgages to consumers. The CFPB 
promulgated its Regulation Z to implement TILA, as required by the 
statute. The CFPB enforces TILA as to certain creditors and 
advertisers. TILA also contains a private right of action for consumers 
and provides enhanced remedies to consumers in high-cost mortgages for 
violations of HOEPA.
    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 CFPB'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. Comments submitted in response to this 
notice will be summarized and/or included in the request for OMB 
approval. All comments will become a matter of public record.

    Dated: September 9, 2015.
Linda F. Powell,
Chief Data Officer, Bureau of Consumer Financial Protection.
[FR Doc. 2015-23068 Filed 9-11-15; 8:45 am]
BILLING CODE 4810-AM-P