[Federal Register Volume 89, Number 103 (Tuesday, May 28, 2024)]
[Notices]
[Pages 46304-46305]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-11571]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Procedures To Enhance the Accuracy and 
Integrity of Information Furnished to Consumer Reporting Agencies Under 
Section 312 of the Fair and Accurate Credit Transactions Act of 2003

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, 
``Procedures to Enhance the Accuracy and Integrity of Information 
Furnished to Consumer Reporting Agencies under Section 312 of the Fair 
and Accurate Credit Transactions Act of 2003.'' DATES: Comments must be 
received by July 29, 2024.

ADDRESSES:  Commenters are encouraged to submit comments by email, if

[[Page 46305]]

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-
0238, 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 
``1557-0238'' 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 ``1557-0238'' or 
``Procedures to Enhance the Accuracy and Integrity of Information 
Furnished to Consumer Reporting Agencies under Section 312 of the Fair 
and Accurate Credit Transactions Act of 2003.'' 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 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: Procedures to Enhance the Accuracy and Integrity of 
Information Furnished to Consumer Reporting Agencies under Section 312 
of the Fair and Accurate Credit Transactions Act of 2003.
    OMB Control No.: 1557-0238.
    Type of Review: Regular.
    Description: Pursuant to section 312 of the FACT Act, the OCC 
issued guidelines for use by furnishers regarding the accuracy and 
integrity of the information about consumers that they furnish to 
consumer reporting agencies and prescribed regulations that require 
furnishers to establish reasonable policies and procedures for 
implementing the guidelines. Section 312 also required the issuance of 
regulations identifying the circumstances under which a furnisher must 
reinvestigate disputes about the accuracy of information contained in a 
consumer report based on a direct request from a consumer.
    Pursuant to 12 CFR 1022.42(a), furnishers are required to establish 
and implement reasonable written policies and procedures regarding the 
accuracy and integrity of consumer information that they provide to a 
consumer reporting agency (CRA).
    Pursuant to 12 CFR 1022.43(a), a furnisher is required to conduct a 
reasonable investigation of a dispute initiated directly by a consumer 
in certain circumstances. Furnishers are required to have procedures to 
ensure that disputes received directly from consumers are handled in a 
substantially similar manner to those complaints received through CRAs.
    Pursuant to 12 CFR 1022.43(f)(2), the statutory requirement is 
incorporated that a furnisher must notify a consumer by mail or other 
means (if authorized by the consumer) not later than five business days 
after making a determination that a dispute is frivolous or irrelevant. 
Pursuant to 12 CFR 1022.43(f)(3) the statute's content requirements are 
incorporated for the notices.
    Affected Public: Businesses or other for-profit.
    Estimated Frequency of Response: On occasion.
    Estimated Number of Respondents: 1,032.
    Estimated Total Annual Burden: 185,603 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. 2024-11571 Filed 5-24-24; 8:45 am]
BILLING CODE 4810-33-P