Mortgage Acts and Practices –- Advertising Rule

ICR 201311-3084-001

OMB: 3084-0156

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2013-11-07
IC Document Collections
IC ID
Document
Title
Status
193949
Modified
ICR Details
3084-0156 201311-3084-001
Historical Active 201112-3084-007
FTC
Mortgage Acts and Practices –- Advertising Rule
Extension without change of a currently approved collection   No
Regular
Approved without change 12/12/2013
Retrieve Notice of Action (NOA) 11/07/2013
  Inventory as of this Action Requested Previously Approved
12/31/2016 36 Months From Approved 12/31/2013
600,000 0 650,000
1,800,000 0 1,950,000
0 0 0

Regulation N requires covered persons to retain: (1) Copies of materially different commercial communications and related materials, regarding any term of any mortgage credit product, that the person made or disseminated during the relevant time period; (2) documents describing or evidencing all mortgage credit products available to consumers during the relevant time period; and (3) documents describing or evidencing all additional products or services (such as credit insurance or credit disability insurance) that are or may be offered or provided with the mortgage credit products available to consumers during the relevant time period. The FTC and the CFPB share enforcement authority for Regulation N and thus the CFPB has incorporated into its recently approved burden estimates 3 for Regulation N one half of the FTC's pre-existing cleared burden estimates.

PL: Pub.L. 111 - 8 626 Name of Law: 2009 Omnibus Appropriations Act
   PL: Pub.L. 111 - 203 H. R. 4173 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
  
PL: Pub.L. 111 - 203 1029 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

Not associated with rulemaking

  78 FR 46583 08/01/2013
78 FR 66931 11/07/2013
No

1
IC Title Form No. Form Name
Covered entities

  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 600,000 650,000 0 0 -50,000 0
Annual Time Burden (Hours) 1,800,000 1,950,000 0 0 -150,000 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The decrease in annual burden hours from 1,950,000 in 2011 to 1,800,000 in 2013 is an adjustment reflecting updated estimates of fewer covered persons (1.3 million in 2011 and 1.2 million in 2013).

$39,520
No
No
No
Yes
No
Uncollected
Carole Reynolds 202 326-3230 creynolds@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.
11/07/2013


© 2024 OMB.report | Privacy Policy