[Federal Register Volume 86, Number 112 (Monday, June 14, 2021)]
[Notices]
[Pages 31579-31580]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-12331]


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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 of 
2003

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 of 2003.'' The OCC also is giving 
notice that it has sent the collection to OMB for review.

DATES: Comments must be received by July 14, 2021.

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: Chief Counsel's Office, Attention: Comment 
Processing, 1557-0238, Office of the Comptroller of the Currency, 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.

[[Page 31580]]

    Instructions: You must include ``OCC'' as the agency name and 
``1557-0238'' in your comment. In general, the OCC will publish 
comments on www.reginfo.gov without change, including any business or 
personal information provided, 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.
    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 30-day Review--Open for 
Public Comments'' or by using the search function.
    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 the following method:
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    \1\ On March 12, 2021, the OCC published a 60-day notice for 
this information collection, 86 FR 14178.
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     Viewing Comments Electronically: Go to www.reginfo.gov. 
Click on the ``Information Collection Review'' tab. 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 of 2003.'' 
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.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance 
Officer, (202) 649-5490, Chief Counsel's Office, 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 asks 
that OMB extend its approval of 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 of 2003 (FACT Act).
    OMB Control No.: 1557-0238.
    Type of Review: Regular.
    Description: Pursuant to section 312 of the FACT Act, the OCC 
issued guidelines for use by furnishers regarding the accuracy and 
integrity of the information about consumers that they furnish to 
consumer reporting agencies and prescribed regulations that require 
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).
    Twelve CFR 1022.43(a) requires a furnisher to conduct a reasonable 
investigation of a dispute initiated directly by a consumer in 
specified circumstances and with specified requirements. Duties of 
furnishers after they receive a direct dispute notice include 
conducting a reasonable investigation and responding to the consumer 
within the time period applicable if the consumer had elected to 
dispute the information through the CRAs.
    Twelve CFR 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. 
Twelve CFR 1022.43(f)(3) incorporates the statute's content 
requirements for the notices.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 1,032 respondents.
    Estimated Total Annual Burden: 185,603 hours.
    On March 12, 2021, the OCC published a 60-day notice for this 
information collection, 86 FR 14178. 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.

Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2021-12331 Filed 6-11-21; 8:45 am]
BILLING CODE 4810-33-P