[Federal Register Volume 88, Number 5 (Monday, January 9, 2023)]
[Notices]
[Pages 1234-1235]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-00179]


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FEDERAL TRADE COMMISSION


Agency Information Collection Activities; Proposed Collection; 
Comment Request; Extension

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 its shared enforcement authority with the Consumer 
Financial Protection Bureau (``CFPB'') for information collection 
requirements contained in the CFPB's Regulation O. That clearance 
expires on March 31, 2023.

DATES: Comments must be received on or before March 10, 2023.

ADDRESSES: Interested parties may file a comment online or on paper by 
following the instructions in the Request for Comments part of the 
SUPPLEMENTARY INFORMATION section below. Write ``Paperwork Reduction 
Act Comment: FTC File No. P072108'' on your comment, and file your 
comment online at https://www.regulations.gov by following the 
instructions on the web-based form. If you prefer to file your comment 
on paper, mail your comment to the following address: Federal Trade 
Commission, Office of the Secretary, 600 Pennsylvania Avenue NW, Suite 
CC-5610 (Annex J), Washington, DC 20580, or deliver your comment to the 
following address: Federal Trade Commission, Office of the Secretary, 
Constitution Center, 400 7th Street SW, 5th Floor, Suite 5610 (Annex 
J), Washington, DC 20024.

FOR FURTHER INFORMATION CONTACT: Stephanie Rosenthal, Division of 
Financial Practices, Bureau of Consumer Protection, Federal Trade 
Commission, 600 Pennsylvania Ave. NW, Washington, DC 20580, (202) 326-
3332.

SUPPLEMENTARY INFORMATION: 
    Title: Regulation O, 12 CFR part 1015.
    OMB Control Number: 3084-0157.
    Type of Review: Extension of currently approved collection.
    Estimated Number of Respondents: 118.
    Estimated Annual Burden Hours: 354.
    Abstract: The FTC and CFPB share enforcement authority for the 
Mortgage Assistance Relief Services (Regulation O), 12 CFR part 
1015.\1\ The rule includes disclosure requirements to assist purchasers 
of mortgage assistance relief services in making well-informed 
decisions and avoiding unfair or deceptive acts and practices. The 
information that must be retained under Regulation O's recordkeeping 
requirements is used by the CFPB and the FTC for enforcement purposes 
and to ensure compliance by MARS providers with Regulation O. The 
information is requested only on a case-by-case basis.
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    \1\ Title X of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act (``Dodd-Frank Act''), Public Law 111-203, 124 Stat. 
1376 (2010), transferred the Commission's rulemaking authority under 
the mortgage provisions in section 626 of the 2009 Omnibus 
Appropriations Act, as amended, to the CFPB. On December 16, 2011, 
the CFPB republished the Mortgage Assistance Relief Services 
(``MARS'') Rule as Regulation O (12 CFR pt. 1015). As a result, the 
Commission subsequently rescinded its MARS Rule (16 CFR pt. 322). 
Nonetheless, under the Dodd-Frank Act, the FTC retains its authority 
to bring law enforcement actions to enforce Regulation O.
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    As required by section 3506(c)(2)(A) of the PRA, 44 U.S.C. 
3506(c)(2)(A), the FTC is providing this opportunity for public comment 
before requesting that OMB extend the existing clearance for the 
information collection requirements contained in Regulation O.

Burden Statement

    Because the FTC and CFPB share enforcement authority for this rule, 
the FTC is seeking clearance for one-half of the following burden 
estimates. These estimates are based on the agencies' law enforcement 
experience and the recent analysis conducted as part of the CFPB's 
clearance renewal for the information collections associated with 
Regulation O.\2\ The FTC and CFPB estimate that there are approximately 
118 for-profit, non-attorney entities offering MARS services and 
subject to Regulation O's requirements.\3\
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    \2\ Consumer Financial Protection Bureau, Agency Information 
Collection Activities: Comment Request, 87 FR 40514 (Oct. 4, 2022).
    \3\ See CFPB Supporting Statement, Mortgage Assistance Relief 
Services (Regulation O) 12 CFR 1015, OMB Control No: 3170-0007 (July 
11, 2022), available at https://www.reginfo.gov/public/do/PRAViewDocument?ref_nbr=202205-3170-004; clearance expires on 
October 31, 2025.
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    Estimated annual hours burden: 354 (FTC share).
    FTC staff estimates that compliance with Regulation O's disclosure 
requirements for MARS providers requires 6 hours of labor annually.\4\ 
Multiplying this figure by 118 entities yields a total burden for 
covered providers of 708 hours annually.\5\ For PRA purposes, the FTC 
and CFPB share enforcement authority and split the information 
collection burden associated with the Rule equally. As a result, the 
FTC assumes 354 hours of this total annual hours of burden.
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    \4\ Id.
    \5\ Id.
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    Estimated associated labor cost: $12,195 (FTC share).
    In calculating the associated labor costs, FTC staff estimates that 
a compliance officer or equivalent will prepare the required 
disclosures at an hourly rate of $34.45/hr.\6\ Thus, the estimated 
annual labor cost is $24,390 (118 providers x 6 hours x $34.45) of 
which the FTC assumes half, or $12,195.
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    \6\ This estimate is based on the median hourly wage for a 
Compliance Officer (occupation code 13-1041) of $34.45 provided by 
the Bureau of Labor Statistics. See BLS Occupational Employment and 
Wages estimate of the median hourly wage for a Compliance Officer 
(occupation code 13-1041) of $34.45, available at https://www.bls.gov/oes/current/oes131041.htm.

[[Page 1235]]



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                                                   Annual burden                    Associated         Total
     Information collection          Number of       hours per     Total burden    hourly labor     respondent
                                    respondents     respondent         hours           cost            costs
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                                             118               6             708          $34.45         $24,390
FTC 50% Share...................  ..............  ..............             354  ..............          12,195
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Request for Comments

    Pursuant to Section 3506(c)(2)(A) of the PRA, the FTC invites 
comments on: (1) whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility; (2) the 
accuracy of the agency's estimate of the burden of the proposed 
collection of information, including the validity of the methodology 
and assumptions used; (3) ways to enhance the quality, utility, and 
clarity of the information to be collected; and (4) ways to minimize 
the burden of maintaining records and providing disclosures to 
consumers. All comments must be received on or before March 10, 2023.
    You can file a comment online or on paper. For the FTC to consider 
your comment, we must receive it on or before March 10, 2023. Write 
``Paperwork Reduction Act Comment: FTC File No. P072108'' on your 
comment. Your comment--including your name and your state--will be 
placed on the public record of this proceeding, including the https://www.regulations.gov website.
    Due to the public health emergency in response to the COVID-19 
outbreak and the agency's heightened security screening, postal mail 
addressed to the Commission will be subject to delay. We encourage you 
to submit your comments online through the https://www.regulations.gov 
website.
    If you prefer to file your comment on paper, write ``Paperwork 
Reduction Act Comment: FTC File No. P072108'' on your comment and on 
the envelope, and mail your comment to the following address: Federal 
Trade Commission, Office of the Secretary, 600 Pennsylvania Avenue NW, 
Suite CC-5610 (Annex J), Washington, DC 20580; or deliver your comment 
to the following address: Federal Trade Commission, Office of the 
Secretary, Constitution Center, 400 7th Street SW, 5th Floor, Suite 
5610 (Annex J), Washington, DC 20024. If possible, submit your paper 
comment to the Commission by courier or overnight service.
    Because your comment will become publicly available at https://www.regulations.gov, you are solely responsible for making sure that 
your comment does not include any sensitive or confidential 
information. In particular, your comment should not include any 
sensitive personal information, such as your or anyone else'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, such as medical records or other 
individually identifiable health information. In addition, your comment 
should not include any ``trade secret or any commercial or financial 
information which . . . . is privileged or confidential''--as provided 
by 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)--including in particular competitively 
sensitive information such as costs, sales statistics, inventories, 
formulas, patterns, devices, manufacturing processes, or customer 
names.
    Comments containing material for which confidential treatment is 
requested must be filed in paper form, must be clearly labeled 
``Confidential,'' and must comply with FTC Rule 4.9(c). In particular, 
the written request for confidential treatment that accompanies the 
comment must include the factual and legal basis for the request, and 
must identify the specific portions of the comment to be withheld from 
the public record. See FTC Rule 4.9(c). Your comment will be kept 
confidential only if the General Counsel grants your request in 
accordance with the law and the public interest. Once your comment has 
been posted publicly at www.regulations.gov, we cannot redact or remove 
your comment unless you submit a confidentiality request that meets the 
requirements for such treatment under FTC Rule 4.9(c), and the General 
Counsel grants that request.
    The FTC Act and other laws that the Commission administers permit 
the collection of public comments to consider and use in this 
proceeding, as appropriate. The Commission will consider all timely and 
responsive public comments that it receives on or before March 10, 
2023. For information on the Commission's privacy policy, including 
routine uses permitted by the Privacy Act, see https://www.ftc.gov/site-information/privacy-policy.

Josephine Liu,
Assistant General Counsel for Legal Counsel.
[FR Doc. 2023-00179 Filed 1-6-23; 8:45 am]
BILLING CODE 6750-01-P