[Federal Register Volume 88, Number 84 (Tuesday, May 2, 2023)]
[Notices]
[Pages 27516-27517]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-09279]


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FEDERAL TRADE COMMISSION


Agency Information Collection Activities; Submission for OMB 
Review; 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 the information collection requirements of its Fair 
Credit Reporting Risk-Based Pricing Regulations (``Risk-Based Pricing 
Rule'' or ``Rule''), which applies to certain motor vehicle dealers, 
and its shared enforcement with the Consumer Financial Protection 
Bureau (``CFPB'') of the risk-based pricing provisions (Subpart H) of 
the CFPB's Regulation V regarding other entities. That clearance 
expires on September 30, 2023.

DATES: Comments must be filed by June 1, 2023.

ADDRESSES: Interested parties may file a comment online or on paper, by 
following the instructions in the Request for Comment part of the 
SUPPLEMENTARY INFORMATION section below. 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.

FOR FURTHER INFORMATION CONTACT: Genevieve Bonan, Attorney, Division of 
Privacy and Identity Protection, Bureau of Consumer Protection, 400 7th 
Street SW, Drop 5422, Washington, DC 20024, [email protected], (202) 326-
3139.

SUPPLEMENTARY INFORMATION: 
    Title of Collection: Fair Credit Reporting Risk-Based Pricing 
Regulations, 16 CFR part 640.
    OMB Control Number: 3084-0145.
    Type of Review: Extension without change of currently approved 
collection.
    Abstract: The Risk-Based Pricing Rule and the CFPB's Regulation V 
require that a creditor provide a risk-based pricing notice to a 
consumer when the creditor uses a consumer report to grant or extend 
credit to the consumer on material terms that are materially less 
favorable than the most favorable terms available to a substantial 
proportion of consumers from or through that creditor.\1\ Additionally, 
these provisions require disclosure of credit scores and information 
relating to credit scores in risk-based pricing notices if a credit 
score of the consumer is used in setting the material terms of credit.
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    \1\ 16 CFR 640.3-640.4; 12 CFR 1022.72-1022.73.
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    Affected Public: Private Sector: Businesses and other for-profit 
entities.
    Estimated Annual Burden Hours: 8,951,460.
    Estimated Annual Labor Costs: $179,566,288.

Request for Comment

    On February 24, 2023, the FTC sought public comment on the 
information collection requirements in the Risk-Based Pricing Rule and 
its shared enforcement with the CFPB of the risk-based pricing 
provisions (Subpart H) of the CFPB's Regulation V. 88 FR 11,917 
(February 24, 2023). No germane comments were received during the 
public comment period. Pursuant to OMB regulations, 5 CFR part 1320, 
that implement the PRA, 44 U.S.C. 3501 et seq., the FTC is providing 
this second opportunity for public comment while

[[Page 27517]]

seeking OMB approval to renew the pre-existing clearance for the Rule. 
For more details about the Rule requirements and the basis for the 
calculations summarized below, see 88 FR 11,917.
    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, such as 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 ensuring 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 ``[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), 16CFR 4.10(a)(2)--including, in particular, 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. 2023-09279 Filed 5-1-23; 8:45 am]
BILLING CODE 6750-01-P