[Federal Register Volume 84, Number 103 (Wednesday, May 29, 2019)]
[Notices]
[Pages 24763-24764]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-11186]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2019-0029]


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 Bureau of Consumer Financial Protection (Bureau) is requesting to 
renew the Office of Management and Budget (OMB) approval for an 
existing information collection titled, ``Equal Credit Opportunity Act 
(Regulation B) 12 CFR 1002.''

DATES: Written comments are encouraged and must be received on or 
before June 28, 2019 to be assured of consideration.

ADDRESSES: Comments in response to this notice are to be directed 
towards OMB and to the attention of the OMB Desk Officer for the Bureau 
of Consumer Financial Protection. 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.
     Email: [email protected].
     Fax: (202) 395-5806.
     Mail: Office of Management and Budget, New Executive 
Office Building, Room 10235, Washington, DC 20503.
    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 becomes 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 Darrin King, PRA Officer, at (202) 
435-9575, or email: [email protected]. If you require this document in 
an alternative electronic format, please contact 
[email protected]. Please do not submit comments to these 
email boxes.

SUPPLEMENTARY INFORMATION:
    Title of Collection: Equal Credit Opportunity Act (Regulation B) 12 
CFR 1002.
    OMB Control Number: 3170-0013.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Private Sector.
    Estimated Number of Respondents: 472,000.
    Estimated Total Annual Burden Hours: 1,220,992.
    Abstract: The Equal Credit Opportunity Act (``ECOA'') was enacted 
to ensure that credit is made available to all creditworthy applicants 
without discrimination on the basis of sex, marital status, race, 
color, religion, national origin, age, or other prohibited bases under 
the ECOA. The ECOA allows for creditors to collect information for 
self-testing against these criteria, while not allowing creditors to 
use this information in making credit decisions of applicants. For 
certain mortgage applications, the ECOA requires creditors to ask for 
some of the prohibited information for monitoring purposes. In 
addition, for certain mortgage applications, creditors are required to 
send a copy of any appraisal

[[Page 24764]]

or written valuation used in the application process to the applicant 
in a timely fashion.
    The ECOA also prescribes that creditors inform applicants of 
decisions made on credit applications. In particular, where creditors 
make adverse actions on credit applications or existing accounts, 
creditors must inform consumers as to why the adverse action was taken, 
such that credit applicants can challenge errors or learn how to become 
more creditworthy. Creditors must retain all application information 
for 25 months, including notices they sent and any information related 
to adverse actions.
    Finally, the ECOA requires creditors who furnish applicant 
information to a consumer reporting agency to reflect participation of 
the applicant's spouse, if the spouse if permitted to use or 
contractually liable on the account.
    Request for Comments: The Bureau issued a 60-day Federal Register 
notice on March 20, 2019, 84 FR 10301, Docket Number: CFPB-2019-0012. 
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 reviewed by OMB as part of its review of this request. 
All comments will become a matter of public record.

    Dated: May 23, 2019.
Darrin A. King,
Paperwork Reduction Act Officer, Bureau of Consumer Financial 
Protection.
[FR Doc. 2019-11186 Filed 5-28-19; 8:45 am]
BILLING CODE 4810-AM-P