Survey of Information Sharing Practices with Affiliates (FACTA 214e)

Forms and Documents

Document Name	Status
Survey of Information Sharing Practices with Affiliates Form and Instruction	New
SPST FACTA214e Final.doc Supporting Statement A	2008-01-22

IC Document Collections

IC ID	Document Title	Status
182909	Survey of Information Sharing Practices with Affiliates Form and Instruction	New

ICR Details

OMB Control No: 3064-0160	ICR Reference No: 200712-3064-002
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: FDIC	Agency Tracking No:
Title: Survey of Information Sharing Practices with Affiliates (FACTA 214e)
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/10/2008
	Date Received in OIRA: 01/07/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2011	36 Months From Approved
Responses	100	0	0
Time Burden (Hours)	1,000	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: This is a qualitative study of information sharing practices of insured state nonmember banks. Pursuant to statutory mandate, the federal banking agencies, the NCUA, and the FTC are to jointly conduct regular studies of consumer information sharing practices of financial institutions and other creditors and users of consumer reports with their affiliates.

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Authorizing Statute(s): US Code: 12 USC 1819(a) (Eighth) Name of Law: Federal Deposit Insurance Act
  

Citations for New Statutory Requirements: PL: Pub.L. 108 - 159 214e Name of Law: Fair and Accurate Credit Transactions Act of 2003

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 51888	08/31/2006
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 69729	12/10/2007
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Survey of Information Sharing Practices with Affiliates	N/A	Survey of Information Sharing Practices with Affiliates

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	100	0	100	0	0	0
Annual Time Burden (Hours)	1,000	0	1,000	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This is a new collection of information. Section 214e of the Fair and Accurate Credit Transactions Act of 2003 mandates that the FDIC, the FRB, the OCC, the OTS, the NCUA, and the FTC gather information and jointly report to Congress on the information sharing practices of financial institutions, creditors, or other users of consumer reports with their affiliates.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 01/07/2008

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