[Federal Register Volume 89, Number 102 (Friday, May 24, 2024)]
[Notices]
[Pages 45938-45939]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-11445]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Fair Credit Reporting: Affiliate Marketing
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites comment on a continuing information
collection, as required by the Paperwork Reduction Act of 1995 (PRA).
In accordance with the requirements of the PRA, the OCC may not conduct
or sponsor, and the respondent is not required to respond to, an
information collection unless it displays a currently valid Office of
Management and Budget (OMB) control number. The OCC is soliciting
comment concerning the renewal of its information collection titled,
``Fair Credit Reporting: Affiliate Marketing.''
DATES: Comments must be received by July 23, 2024.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
Email: [email protected].
Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0230, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
Fax: (571) 293-4835.
Instructions: You must include ``OCC'' as the agency name and
``1557-0230'' in your comment. In general, the OCC will publish
comments on www.reginfo.gov without change, including any business or
personal information provided, such as name and address information,
email addresses, or phone numbers. Comments received, including
attachments and other supporting materials, are part of the public
record and subject to public disclosure. Do not include any information
in your comment or supporting materials that you consider confidential
or inappropriate for public disclosure.
Following the close of this notice's 60-day comment period, the OCC
will publish a second notice with a 30-day comment period. You may
review comments and other related materials that pertain to this
information collection beginning on the date of publication of the
second notice for this collection by the method set forth in the next
bullet.
Viewing Comments Electronically: Go to www.reginfo.gov.
Hover over the ``Information Collection Review'' tab and click on
``Information Collection Review'' from the drop-down menu. From the
``Currently under Review'' drop-down menu, select ``Department of
Treasury'' and then click ``submit.'' This information collection can
be located by searching OMB control number ``1557-0230'' or ``Fair
Credit Reporting: Affiliate Marketing.'' Upon finding the appropriate
information collection, click on the related ``ICR Reference Number.''
On the next screen, select ``View Supporting Statement and Other
Documents'' and then click on the link
[[Page 45939]]
to any comment listed at the bottom of the screen.
For assistance in navigating www.reginfo.gov, please
contact the Regulatory Information Service Center at (202) 482-7340.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer,
(202) 649-5490, Chief Counsel's Office, Office of the Comptroller of
the Currency, 400 7th Street SW, Washington, DC 20219. If you are deaf,
hard of hearing, or have a speech disability, please dial 7-1-1 to
access telecommunications relay services.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501 et seq.),
Federal agencies must obtain approval from the OMB for each collection
of information that they conduct or sponsor. ``Collection of
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to
include agency requests or requirements that members of the public
submit reports, keep records, or provide information to a third party.
Section 3506(c)(2)(A) of title 44 generally requires Federal agencies
to provide a 60-day notice in the Federal Register concerning each
proposed collection of information, including each proposed extension
of an existing collection of information, before submitting the
collection to OMB for approval. To comply with this requirement, the
OCC is publishing notice of the renewal/revision of this collection.
Title: Fair Credit Reporting: Affiliate Marketing.
OMB Control No.: 1557-0230.
Type of Review: Regular.
Description: Section 214 of the Fair and Accurate Credit
Transactions Act of 2003 (FACT Act),\1\ which added section 624 to the
Fair Credit Reporting Act (FCRA),\2\ generally prohibits a person from
using certain information received from an affiliate to solicit a
consumer for marketing purposes, unless the consumer is given notice
and an opportunity and simple method to opt out of such solicitations.
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\1\ Public Law 108-159, 117 Stat. 1952 (December 4, 2003).
\2\ 15 U.S.C. 1681 et seq.
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Twelve CFR 1022.20-1022.27 require financial institutions to issue
notices informing consumers about their rights under section 214 of the
FACT Act. Consumers use the notices to decide if they want to receive
solicitations for marketing purposes or opt out. Financial institutions
use consumers' opt-out responses to determine the permissibility of
making a solicitation for marketing purposes.
If a person receives certain consumer eligibility information from
an affiliate, the person may not use that information to solicit the
consumer about its products or services, unless the consumer is given
notice and a simple method to opt out of such use of the information,
and the consumer does not opt out. Exceptions include a person using
eligibility information: (1) to make solicitations to a consumer with
whom the person has a pre-existing business relationship; (2) to
perform services for another affiliate subject to certain conditions;
(3) in response to a communication initiated by the consumer; or (4) to
make a solicitation that has been authorized or requested by the
consumer. A consumer's affiliate marketing opt-out election must be
effective for a period of at least five years. Upon expiration of the
opt-out period, the consumer must be given a renewal notice and an
opportunity to renew the opt-out before information received from an
affiliate may be used to make solicitations to the consumer.
Affected Public: Businesses or other for-profit.
Estimated Frequency of Response: On occasion.
Estimated Number of Respondents: 97,723.
Estimated Total Annual Burden: 10,281 hours.
Comments submitted in response to this notice will be summarized
and included in the request for OMB approval. All comments will become
a matter of public record. Comments are invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the OCC, including whether the
information has practical utility;
(b) The accuracy of the OCC's estimate of the burden of the
collection of information;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of the collection on respondents,
including through the use of automated collection techniques or other
forms of information technology; and
(e) Estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Patrick T. Tierney,
Assistant Director, Office of the Comptroller of the Currency.
[FR Doc. 2024-11445 Filed 5-23-24; 8:45 am]
BILLING CODE 4810-33-P