[Federal Register Volume 86, Number 239 (Thursday, December 16, 2021)]
[Notices]
[Pages 71453-71454]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-27225]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2021-0021]


Agency Information Collection Activities: 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's (OMB's) approval for an 
existing information collection titled ``Electronic Fund Transfer Act 
(Regulation E).''

DATES: Written comments are encouraged and must be received on or 
before February 14, 2022 to be assured of consideration.

ADDRESSES: 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:
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: [email protected]. Include Docket No. CFPB-
2021-0021 in the subject line of the email.
     Mail/Hand Delivery/Courier: Comment intake, Bureau of 
Consumer Financial Protection (Attention: PRA Office), 1700 G Street 
NW, Washington, DC 20552. Please note that due to circumstances 
associated with the COVID-19 pandemic, the Bureau discourages the 
submission of comments by mail, hand delivery, or courier. Please note 
that comments submitted after the comment period will not be accepted. 
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

[[Page 71454]]

available at www.regulations.gov. Requests for additional information 
should be directed to Anthony May, Paperwork Reduction Act Officer, at 
(202) 435-7278, 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: Electronic Fund Transfer Act (Regulation E) 12 
CFR 1005.
    OMB Control Number: 3170-0014.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Businesses and other for-profit institutions.
    Estimated Number of Respondents: 600,000.
    Estimated Total Annual Burden Hours: 3,353,592.
    Abstract: The Electronic Fund Transfer Act (EFTA), 15 U.S.C. 1693 
et seq., requires accurate disclosure of the costs, terms, and rights 
relating to electronic fund transfer (EFT) services and remittance 
transfer services to consumers. Entities offering EFT services must 
provide consumers with full and accurate information regarding 
consumers' rights and responsibilities in connection with EFT services. 
These disclosures are intended to protect the rights of consumers using 
EFT services, such as automated teller machine (ATM) transfers, 
telephone bill-payment services, point-of-sale transfers at retail 
establishments, electronic check conversion, payroll cards, and 
preauthorized transfers from or to a consumer's account. EFTA also 
establishes error resolution procedures and limits consumer liability 
for unauthorized transfers in connection with EFT services. EFTA and 
Regulation E impose disclosure and other requirements on issuers and 
sellers of gift cards, gift certificates, and general-use prepaid 
cards. Further, EFTA and Regulation E provide protections for consumers 
in the United States who send remittance transfers to persons in a 
foreign country. It also provides comprehensive protections for 
consumers who use ``prepaid accounts.'' Tailored provisions governing 
disclosures, limited liability, error resolution, and periodic 
statements added new requirements regarding the posting of account 
agreements. Additionally, Regulations E regulates overdraft credit 
features offered in connection with prepaid accounts.
    Request for Comments: Comments are 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 summarized and/or included in the request for OMB 
approval. All comments will become a matter of public record.

Anthony May,
Paperwork Reduction Act Officer, Bureau of Consumer Financial 
Protection.
[FR Doc. 2021-27225 Filed 12-15-21; 8:45 am]
BILLING CODE 4810-AM-P