Recordkeeping Requirements Associated with Regulation GG

Forms and Documents

Document Name	Status
RegGG.20081118.omb.doc Supporting Statement A	2008-11-18

IC Document Collections

IC ID	Document Title	Status
187162	Money transmitting business operators	New
182209	Credit unions	Modified
182208	Commercial Banks and card system operators	Modified

ICR Details

OMB Control No: 7100-0317	ICR Reference No: 200811-7100-001
Status: Historical Active	Previous ICR Reference No: 200709-7100-014
Agency/Subagency: FRS	Agency Tracking No: FR 4026
Title: Recordkeeping Requirements Associated with Regulation GG
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/21/2008
	Date Received in OIRA: 11/21/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2011	36 Months From Approved	10/31/2010
Responses	7,538	0	134,451
Time Burden (Hours)	428,520	0	322,779
Cost Burden (Dollars)	0	0	0

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Abstract: The Secretary of the Treasury and the Board of Governors of the Federal Reserve System in consultation with the U.S. Attorney General, jointly are issuing a notice of final rulemaking to implement applicable provisions under section 802 of the Unlawful Internet Gambling Enforcement Act of 2006. The final rule requires participants in designated payment systems to establish written policies and procedures reasonably designed to identify and block or otherwise prevent or prohibit transactions in connection with unlawful Internet gambling. The collection of information in the final rule is in sections 5 and 6.

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Authorizing Statute(s): US Code: 31 USC 5364(a) Name of Law: Unlawful Internet Gambling Enforcement Act of 2006
  

Citations for New Statutory Requirements: US Code: 31 USC 5364(a) Name of Law: Unlawful Internet Gambling Enforcement Act of 2006

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1505-AB78	Final or interim final rulemaking	73 FR 69382	11/18/2008

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Credit unions
Commercial Banks and card system operators
Money transmitting business operators

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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	7,538	134,451	0	0	-126,913	0
Annual Time Burden (Hours)	428,520	322,779	0	0	105,741	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: In response to public comments on the proposed rule, the agencies adjusted their burden estimates.

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Annual Cost to Federal Government: $0

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: 11/21/2008

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