Unfair or Deceptive Acts or Practices Disclosures

Forms and Documents

Document Name	Status
1550.0122.Just.nonsubstantive.change.doc Justification for No Material/Nonsubstantive Change	2010-05-05
1550.0122.UDAP.SUPPORTING STATEMENT.doc Supporting Statement A	2010-05-05

IC Document Collections

IC ID	Document Title	Status
184968	Unfair or Deceptive Acts or Practices	Modified

ICR Details

OMB Control No: 1550-0122	ICR Reference No: 201005-1550-001
Status: Historical Active	Previous ICR Reference No: 200901-1550-001
Agency/Subagency: TREAS/OTS	Agency Tracking No:
Title: Unfair or Deceptive Acts or Practices Disclosures
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/19/2010
	Date Received in OIRA: 05/05/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2012	04/30/2012	04/30/2012
Responses	464	0	464
Time Burden (Hours)	464	0	928
Cost Burden (Dollars)	0	0	0

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Abstract: Under section 18 (f)(1) of the Federal Trade Commission Act (FTC Act), OTS is exclusively responsible for prescribing rules applicable to savings associations to prevent unfair or deceptive acts or practices in or affecting commerce, including acts or practices that are unfair or deceptive to consumers.

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Authorizing Statute(s): US Code: 12 USC 57a(f)(1) Name of Law: Federal Trade Commission Act
  

Citations for New Statutory Requirements: US Code: 15 USC 1601 Name of Law: Truth in Lending Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1550-AC17	Final or interim final rulemaking	74 FR 5498	01/29/2009

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Unfair or Deceptive Acts or Practices

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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	464	464	0	0	0	0
Annual Time Burden (Hours)	464	928	0	-464	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: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: OTS is citing decrease in the burden due to the deletion of a paperwork section from the Final Rule. Under section 18(f)(1) of the FTC Act, OTS is exclusively responsible for prescribing rules applicable to savings associations to prevent unfair or deceptive acts or practices (UDAPs) in or affecting commerce, including acts or practices that are unfair or deceptive to consumers.

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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]? No

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)? No

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: 05/05/2010

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