[Federal Register Volume 85, Number 123 (Thursday, June 25, 2020)]
[Notices]
[Pages 38138-38139]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-13703]


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FEDERAL TRADE COMMISSION


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Extension

AGENCY: Federal Trade Commission.

ACTION: Notice.

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SUMMARY: The Federal Trade Commission (``FTC'' or ``Commission'') 
requests that the Office of Management and Budget (``OMB'') extend for 
an additional three years the current Paperwork Reduction Act (``PRA'') 
clearance for the information collection requirements of its Fair 
Credit Reporting Risk-Based Pricing Regulations (``Risk-Based Pricing 
Rule'' or ``Rule''), which

[[Page 38139]]

applies to certain motor vehicle dealers, and its shared enforcement 
with the Consumer Financial Protection Bureau (``CFPB'') of the risk-
based pricing provisions (subpart H) of the CFPB's Regulation V 
regarding other entities. That clearance expires on July 31, 2020.

DATES: Comments must be filed by July 27, 2020.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under Review--Open for 
Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Monique Einhorn, Attorney, Division of 
Privacy and Identity Protection, Bureau of Consumer Protection, (202) 
326-2575, 600 Pennsylvania Ave. NW, Room CC-8232, Washington, DC 20580.

SUPPLEMENTARY INFORMATION: Pursuant to the Paperwork Reduction Act of 
1995 (44 U.S.C. 3501 et seq.), the FTC has submitted to the Office of 
Management and Budget (``OMB'') this request for extension of the 
previously approved collection of information discussed below.
    Title: Fair Credit Reporting Risk-Based Pricing Regulations, 16 CFR 
part 640.
    OMB Control Number: 3084-0145.
    Type of Review: Extension of currently approved collection.
    Affected Public: Private Sector: Businesses and other for-profit 
entities.
    Estimated Annual Burden Hours: 7,950,000.
    Estimated Annual Labor Costs: $149,062,500.
    Abstract: The Risk-Based Pricing Rule and the CFPB's Regulation V 
require that a creditor provide a risk-based pricing notice to a 
consumer when the creditor uses a consumer report to grant or extend 
credit to the consumer on material terms that are materially less 
favorable than the most favorable terms available to a substantial 
proportion of consumers from or through that creditor.\1\ Additionally, 
these provisions require disclosure of credit scores and information 
relating to credit scores in risk-based pricing notices if a credit 
score of the consumer is used in setting the material terms of credit.
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    \1\ 16 CFR 640.3-640.4; 12 CFR 1022.72-1022.73.
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Request for Comment

    On February 20, 2020, the Commission sought comment on the 
information collection requirements associated with the Risk-Based 
Pricing Rule and its shared enforcement with the CFPB of the risk-based 
pricing provisions (subpart H) of the CFPB's Regulation V. 85 FR 9775 
(Feb. 20, 2020). No relevant comments were received. Pursuant to the 
OMB regulations, 5 CFR part 1320, that implement the PRA, 44 U.S.C. 
3501 et seq., the FTC is providing this second opportunity for public 
comment while seeking OMB approval to renew the pre-existing clearance 
for those information collection requirements.
    Your comment--including your name and your state--will be placed on 
the public record of this proceeding. Because your comment will be made 
public, you are solely responsible for making sure that your comment 
does not include any sensitive personal information, like anyone's 
Social Security number, date of birth, driver's license number or other 
state identification number or foreign country equivalent, passport 
number, financial account number, or credit or debit card number. You 
are also solely responsible for making sure that your comment does not 
include any sensitive health information, like medical records or other 
individually identifiable health information. In addition, do not 
include any ``[t]rade secret or any commercial or financial information 
which is . . . privileged or confidential'' as provided in Section 6(f) 
of the FTC Act 15 U.S.C. 46(f), and FTC Rule Sec.  4.10(a)(2), 16 CFR 
4.10(a)(2). In particular, do not include competitively sensitive 
information such as costs, sales statistics, inventories, formulas, 
patterns devices, manufacturing processes, or customer names.

Josephine Liu,
Assistant General Counsel for Legal Counsel.
[FR Doc. 2020-13703 Filed 6-24-20; 8:45 am]
BILLING CODE 6750-01-P