[Federal Register Volume 84, Number 224 (Wednesday, November 20, 2019)]
[Notices]
[Pages 64051-64052]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-25117]
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BUREAU OF CONSUMER FINANCIAL PROTECTION
[Docket No. CFPB-2019-0057]
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, ``Truth in Savings (Regulation
DD) 12 CFR 1030.''
DATES: Written comments are encouraged and must be received on or
before December 20, 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. 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
[[Page 64052]]
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: Truth in Savings (Regulation DD) 12 CFR 1030.
OMB Control Number: 3170-0004.
Type of Review: Extension without change of a currently approved
collection.
Affected Public: Private Sector.
Estimated Number of Annual Respondents: 144.
Estimated Total Annual Burden Hours: 625,187.\1\
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\1\ The Bureau shares supervisory authority for Regulation DD
with the Federal Reserve Board (12 CFR 1030, OMB No. 7100-0271), the
Department of Treasury's Office of the Comptroller of the Currency
(12 CFR 1030, OMB No. 1557-0176), and the Federal Deposit Insurance
Corporation (12 CFR 230, OMB No. 3064-0084). The total estimated
burden for all agencies is 749,982 hours for a total of 5,457
respondents.
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Abstract: Consumers rely on the disclosures required by the Truth
in Savings Act (TISA) and Regulation DD to facilitate informed
decision-making regarding deposit accounts offered at depository
institutions. Without this information, consumers would be severely
hindered in their ability to assess the true costs and terms of the
deposit accounts offered. Federal agencies and private litigants use
the records to ascertain whether accurate and complete disclosures of
depository accounts have been provided to consumers. This information
also provides the primary evidence of law violations in TISA
enforcement actions brought by the Bureau. Without the Regulation DD
recordkeeping requirement, the Bureau's ability to enforce TISA would
be significantly impaired. This is a routine renewal of an existing
information collection. The Bureau is not proposing any policy changed
pursuant to this notice.
Request for comments: The Bureau issued a 60-day Federal Register
notice on September 9, 2019, 84 FR 47264, Docket Number: CFPB-2019-
0050. 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: November 14, 2019.
Darrin King,
Paperwork Reduction Act Officer, Bureau of Consumer Financial
Protection.
[FR Doc. 2019-25117 Filed 11-19-19; 8:45 am]
BILLING CODE 4810-AM-P