[Federal Register Volume 83, Number 121 (Friday, June 22, 2018)]
[Notices]
[Pages 29153-29154]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-13384]


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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 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.'' The OCC 
also is giving notice that it has sent the collection to OMB for 
review.

DATES: Comments must be received by July 23, 2018.

ADDRESSES: Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:
     Email: [email protected].
     Mail: Legislative and Regulatory Activities Division, 
Office of the Comptroller of the Currency, Attention: 1557-0238, 400 
7th Street SW, suite 3E-218, Washington, DC 20219.
     Hand Delivery/Courier: 400 7th Street SW, suite 3E-218, 
Washington, DC 20219.
     Fax: (571) 465-4326.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0238'' in your comment. In general, the OCC will publish your 
comment on www.reginfo.gov without change, including any business or 
personal information that you provide, such as name and address 
information, email addresses, or phone numbers. 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 
[email protected].
    You may review comments and other related materials that pertain to 
this information collection \1\ following the close of the 30-Day 
comment period for this notice by any of the following methods:
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    \1\ On April 2, 2018, the OCC published a 60-Day notice for this 
information collection.
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     Viewing Comments Electronically: Go to www.reginfo.gov. 
Click on the ``Information Collection Review'' tab.

[[Page 29154]]

Underneath the ``Currently under Review'' section heading, from the 
drop-down menu, select ``Department of Treasury'' and then click 
``submit.'' This information collection can be located by searching by 
OMB control number ``1557-0238'' or ``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.'' Upon finding the appropriate information collection, click on 
the related ``ICR Reference Number.'' On the next screen, select ``View 
Supporting Statement and Other Documents'' and then click on the link 
to any comment listed at the bottom of the screen.
     For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.
     Viewing Comments Personally: You may personally inspect 
comments at the OCC, 400 7th Street SW, Washington, DC. 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 hearing impaired, TTY, (202) 649-5597. Upon arrival, 
visitors will be required to present valid government-issued photo 
identification and submit to security screening in order to inspect 
comments.

FOR FURTHER INFORMATION CONTACT: Mary H. Gottlieb, OCC Clearance 
Officer, (202) 649-5490 or, for persons who are deaf or hearing 
impaired, TTY, (202) 649-5597, Legislative and Regulatory Activities 
Division, Office of the Comptroller of the Currency, 400 7th Street SW, 
suite 3E-218, 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 that 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. The OCC is 
asking OMB to extend its approval for this collection.
    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.
    Type of Review: Regular.
    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 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) requires a furnisher to conduct a reasonable 
investigation of a dispute initiated directly by a consumer 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)(3) incorporates the statute's content requirements for the 
notices.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 1,133 respondents.
    Estimated Total Annual Burden: 185,603 hours.
    The OCC issued a notice for 60 days of comment on April 2, 2018, 83 
FR 14104. 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: June 18, 2018.
Karen Solomon,
Acting Senior Deputy Comptroller and Chief Counsel.
[FR Doc. 2018-13384 Filed 6-21-18; 8:45 am]
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