[Federal Register Volume 87, Number 139 (Thursday, July 21, 2022)]
[Notices]
[Pages 43520-43521]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-15588]


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FEDERAL TRADE COMMISSION


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

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 in the 
regulations governing ``Duties of Furnishers of Information to Consumer 
Reporting Agencies'' (``Information Furnishers

[[Page 43521]]

Rule''), which applies to certain motor vehicle dealers, and its shared 
enforcement with the Consumer Financial Protection Bureau (``CFPB'') of 
the furnisher provisions (subpart E) of the CFPB's Regulation V 
regarding other entities. That clearance expires on July 31, 2022.

DATES: Comments must be submitted by August 22, 2022.

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: Gorana Neskovic, Attorney, Division of 
Privacy and Identity Protection, Bureau of Consumer Protection, (202) 
326-2322, 600 Pennsylvania Ave. NW, CC-8232, Washington, DC 20580.

SUPPLEMENTARY INFORMATION: 
    Title: Duties of Furnishers of Information to Consumer Reporting 
Agencies.
    OMB Control Number: 3084-0144.
    Type of Review: Extension without change of a currently approved 
collection.
    Affected Public: Private Sector: Businesses and other for-profit 
entities.
    Estimated Annual Burden Hours: 15,405 hours.\1\
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    \1\ In the Commission's January 28, 2022, notice seeking comment 
on the information collection requirements associated with the 
Information Furnishers Rule, 87 FR 4598 (Jan. 28, 2022), the 
``Estimated Annual Burden Hours'' was erroneously listed as 17,483 
hours. But the underlying calculations in the January 28, 2022 
notice were correct, and the sum of those burden hours is 15,405 
(12,770 hours + 2,635 hours).
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    Estimated Annual Labor Costs: $858,754.\2\
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    \2\ In the Commission's January 28, 2022 notice, the ``Estimated 
Annual Labor Costs'' was erroneously listed as $966,143 when it was 
actually $840,341 ($773,096 + $67,245). Additionally, the hourly 
wage rates for sales and related workers were updated by the U.S. 
Department of Labor on March 31, 2022, and our estimates are now 
based on mean hourly wages found at https://www.bls.gov/news.release/ocwage.htm (``Occupational Employment and Wages--May 
2021,'' U.S. Department of Labor, released March 2022, Table 1 
(``National employment and wage data from the Occupational 
Employment Statistics survey by occupation, May 2021''). Thus, 
$858,754 is the current estimate for annual labor costs.
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    Estimated Annual Non-Labor Costs: $0.

Abstract

    The Dodd-Frank Act \3\ transferred most of the FTC's rulemaking 
authority for the furnisher provisions of the Fair Credit Reporting Act 
(``FCRA'') \4\ to the CFPB. The FTC, however, retains rulemaking 
authority for motor vehicle dealers that are predominantly engaged in 
the sale and servicing of motor vehicles, the leasing and servicing of 
motor vehicles, or both.\5\ In addition, the FTC retains its authority 
to enforce the furnisher provisions of the FCRA and rules issued under 
those provisions. Accordingly, the FTC and CFPB have overlapping 
enforcement authority for many entities subject to CFPB's Regulation V 
(subpart E) and the FTC has sole enforcement authority for the motor 
vehicle dealers subject to the FTC rule.
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    \3\ Public Law 111-203, 124 Stat. 1376 (2010).
    \4\ 15 U.S.C. 1681 et seq.
    \5\ See Dodd-Frank Act, 1029(a), (c).
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    Under section 660.3 of the FTC's Information Furnishers Rule \6\ 
and section 1022.42 of the CFPB Rule,\7\ furnishers must establish and 
implement reasonable written policies and procedures regarding the 
accuracy and integrity of the information relating to consumers that 
they furnish to a consumer reporting agency (``CRA'') for inclusion in 
a consumer report.\8\ Section 660.4 of the FTC Rule and section 1022.43 
of the CFPB Rule require that entities which furnish information about 
consumers to a CRA respond to direct disputes from consumers. These 
provisions also require that a furnisher notify consumers by mail or 
other means (if authorized by the consumer) within five business days 
after making a determination that a dispute is frivolous or irrelevant 
(``F/I dispute'').
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    \6\ 16 CFR part 660.
    \7\ 12 CFR part 1022.
    \8\ The rule also provides that an entity is not a furnisher 
when it: provides information to a CRA solely to obtain a consumer 
report for a permissible purpose under the FCRA; is acting as a CRA 
as defined in section 603(f) of the FCRA; is an individual consumer 
to whom the furnished information pertains; or is a neighbor, 
friend, or associate of the consumer, or another individual with 
whom the consumer is acquainted or who may have knowledge about the 
consumer's character, general reputation, personal characteristics, 
or mode of living in response to a specific request from a CRA.
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Request for Comment

    On January 28, 2022, the Commission sought comment on the 
information collection requirements associated with the Information 
Furnishers Rule. 87 FR 4598 (Jan. 28, 2022). No relevant comments 
addressing the Rule's information collections were received. Pursuant 
to the OMB regulations, 5 CFR part 1320, the FTC is providing this 
second opportunity for public comment while seeking OMB approval to 
renew clearance for the Rule's 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 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. 2022-15588 Filed 7-20-22; 8:45 am]
BILLING CODE 6750-01-P