[Federal Register Volume 87, Number 129 (Thursday, July 7, 2022)]
[Notices]
[Pages 40512-40513]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-14471]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2022-0043]


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 ``Consumer Leasing Act 
(Regulation M),'' approved under OMB Control Number 3170-0006.

DATES: Written comments are encouraged and must be received on or 
before August 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

[[Page 40513]]

this information collection request is available at 
www.regulations.gov. Requests for additional information 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: Consumer Leasing Act (Regulation M).
    OMB Control Number: 3170-0006.
    Type of review: Extension of a currently approved information 
collection.
    Affected Public: Businesses and other for-profit institutions.
    Estimated Number of Respondents: 13,718.
    Estimated Total Annual Burden Hours: 2,126.
    Abstract: Consumers rely on the disclosures required by the 
Consumer Leasing Act, 15 U.S.C. 1667 et seq. (CLA) and Regulation M, 12 
CFR 1013, for information to comparison shop among leases as well as to 
ascertain the true costs and terms of lease offers. Federal/State 
enforcement and private litigants use the records to ascertain whether 
accurate and complete disclosures of the cost of leases have been 
provided to consumers prior to consummation of the lease. This 
information provides the primary evidence of law violations in CLA 
enforcement actions brought by Federal agencies. The agency's ability 
to enforce the CLA would be significantly impaired without Regulation 
M's recordkeeping requirements.
    Request for Comments: The Bureau published a 60-day Federal 
Register notice on 4/7/2022 (87 FR 20394) under Docket Number: CFPB-
2022-0021. 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. 2022-14471 Filed 7-6-22; 8:45 am]
BILLING CODE 4810-AM-P