Privacy of consumer financial information

Forms and Documents

Document Name	Status
83C for 3064-0136.pdf Justification for No Material/Nonsubstantive Change	2012-07-25
83C for 3064-0136.pdf Justification for No Material/Nonsubstantive Change	2012-07-13
Spst0136 (2009).doc Supporting Statement A	2009-08-10

IC Document Collections

IC ID	Document Title	Status
44178	Consumer opt-out/status update	Modified
203477	Opt-out notice	New
203476	Initial notice to consumers	New
203472	Annual notice and change in terms	New

ICR Details

OMB Control No: 3064-0136	ICR Reference No: 201207-3064-002
Status: Historical Active	Previous ICR Reference No: 200907-3064-011
Agency/Subagency: FDIC	Agency Tracking No:
Title: Privacy of consumer financial information
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: 08/23/2012
	Date Received in OIRA: 07/19/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2012	11/30/2012	11/30/2012
Responses	218,662	0	229,694
Time Burden (Hours)	171,032	0	176,466
Cost Burden (Dollars)	0	0	0

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Abstract: Insured state nonmember banks must disclose their privacy policies to consumers and provide them with an opportunity to opt out.

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Authorizing Statute(s): US Code: 15 USC 6803(e) Name of Law: Gramm-Leach-Bliley Act
  

Citations for New Statutory Requirements: US Code: 12 USC 5301 et. seq. Name of Law: Dodd-Frank Wall Street Reform And Consumer Protection Act

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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:
	74 FR 24852	05/26/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 44363	08/28/2009
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
Initial notice to consumers
Opt-out notice
Consumer opt-out/status update
Annual notice and change in terms

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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	218,662	229,694	-11,032	0	0	0
Annual Time Burden (Hours)	171,032	176,466	-5,434	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: Pursuant to the Dodd-Frank Act, the Office of Thrift Supervision was abolished and the FDIC assumed supervision of 59 of the formerly OTS federally regulated institutions. Also pursuant to the Dodd-Frank Act, the Consumer Financial Protection Bureau was created and assumed supervision for 41 institutions formerly supervised by the FDIC. As a result of these two changes, this information collection needs to be changed to reflect the additional paperwork burden.

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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]? No

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

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: 07/19/2012

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