[Federal Register Volume 80, Number 181 (Friday, September 18, 2015)]
[Notices]
[Pages 56549-56550]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-23403]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Submission for OMB Review; Procedures To Enhance the Accuracy 
and Integrity of Information Furnished to Consumer Reporting Agencies 
Under the Fair and Accurate Credit Transactions Act

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

ACTION: 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 
the Fair and Accurate Credit Transactions Act (FACT Act).'' The OCC 
also is giving notice that it has sent the collection to OMB for 
review.

DATES: Comments must be received by October 19, 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 or, for persons who are deaf or hard of hearing, 
TTY, (202) 649-5597. Upon arrival, visitors will be required to present 
valid government-issued photo identification and submit to security 
screening in

[[Page 56550]]

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 include any information in your comment or 
supporting materials that you consider confidential or inappropriate 
for public disclosure.
    Additionally, please send a copy of your comments by mail to: OCC 
Desk Officer, 1557-0238, U.S. Office of Management and Budget, 725 17th 
Street NW., #10235, Washington, DC 20503, or by email to: oira 
[email protected].

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: The OCC is requesting that OMB extend its 
approval 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) requires the issuance of (1) 
guidelines for use by furnishers regarding the accuracy and integrity 
of the information about consumers that they furnish to consumer 
reporting agencies and (2) regulations requiring furnishers to 
establish reasonable policies and procedures for implementing the 
guidelines. Section 312 also requires 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).
    Twelve CFR 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.
    Twelve 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. Twelve CFR 
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.
    A 60-day Federal Register notice concerning this collection of 
information was published on July 7, 2015, 80 FR 38808. No comments 
were received. Comments continue to be 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: September 14, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2015-23403 Filed 9-17-15; 8:45 am]
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