Since the
agencies are not employing statistical methods to generate survey
results that are representative of the surveyed population, OMB
considers this to be a qualitative survey. Accordingly, the report
to Congress must state that the survey data are qualitative and
cannot be considered representative of the population. OMB requests
that the agencies share a draft of the report prior to its
submission to Congress.
Inventory as of this Action
Requested
Previously Approved
04/30/2011
36 Months From Approved
20
0
0
200
0
0
0
0
0
The Fair and Accurate Credit
Transactions Act of 2003 requires the Federal Trade Commission,
along with the Federal banking agencies and the National Credit
Union Administration, to jointly conduct regular studies of the
consumer information sharing practices by financial institutions
and other persons that are creditors or users of consumer reports
with their affiliates. The statute also requires the Agencies to
examine the information sharing practices that financial
institutions and other creditors or users of consumer reports and
their affiliates employ to make underwriting decisions or credit
evaluations of consumers. The Commission will send a survey
questionnaire to 20 businesses to gather the necessary information
for the instant study. The Agencies jointly must submit a report to
the Congress on the results of the initial study together with any
recommendations for legislative or regulatory action.
This is a new information
collection. See Abstract above for further explanation of and
reasons for the instant study and associated survey.
$178,000
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Sandra McCarthy 2023262531
smccarthy@ftc.gov
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.