[Federal Register Volume 87, Number 46 (Wednesday, March 9, 2022)]
[Notices]
[Pages 13278-13279]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-04953]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2022-0017]


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 Consumer Financial Protection Bureau (CFPB or Bureau) requests the 
extension of the Office of Management and Budget's (OMB's) approval of 
the existing information collection titled ``Electronic Fund Transfer 
Act (Regulation E)'' approved under OMB Control Number 3170-0014.

DATES: Written comments are encouraged and must be received on or 
before April 8, 2022 to be assured of consideration.

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 30-day Review--
Open for Public Comments'' or by using the search function. 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.regulations.gov. Requests for additional information

[[Page 13279]]

should be directed to Anthony May, Paperwork Reduction Act Officer, at 
(202) 841-0544, 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).
    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: 3,361,056.
    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: The Bureau published a 60-day Federal 
Register notice on 12/16/2021 (86 FR 71453) under Docket Number: CFPB-
2021-0021. The Bureau is soliciting comments 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 submitted to OMB as part of its review of this request. 
All comments will become a matter of public record.

Anthony May,
Paperwork Reduction Act Officer, Consumer Financial Protection Bureau.
[FR Doc. 2022-04953 Filed 3-8-22; 8:45 am]
BILLING CODE 4810-AM-P