[Federal Register Volume 80, Number 227 (Wednesday, November 25, 2015)]
[Notices]
[Page 73734]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-30042]



[[Page 73734]]

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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2015-0053]


Agency Information Collection Activities: Submission for OMB 
Review; 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 (CFPB) 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 December 28, 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.
     OMB: Office of Management and Budget, New Executive Office 
Building, Room 10235, Washington, DC 20503 or fax to (202) 395-5806. 
Mailed or faxed comments to OMB should be to the attention of the OMB 
Desk Officer for the Bureau of Consumer Financial Protection. 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.reginfo.gov 
(this link active on the day following publication of this notice). 
Select ``Information Collection Review,'' under ``Currently under 
review, use the dropdown menu ``Select Agency'' and select ``Consumer 
Financial Protection Bureau'' (recent submissions to OMB will be at the 
top of the list). The same documentation is also available at http://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 email box.

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: Private Sector (Businesses and other for- and non-
profit institutions).
    Estimated Number of Respondents: 55.
    Estimated Total Annual Burden Hours: 12.
    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 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 Bureau promulgated its Regulation Z to implement TILA, 
as required by the statute. The Bureau 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: The Bureau issued a 60-day Federal Register 
notice on September 14, 2015 (80 FR 55100). Comments were solicited and 
continue to be 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. 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: November 19, 2015.
Darrin A. King,
Paperwork Reduction Act Officer, Bureau of Consumer Financial 
Protection.
[FR Doc. 2015-30042 Filed 11-24-15; 8:45 am]
BILLING CODE 4810-AM-P