Regulation V, subpart N

Forms and Documents

Document Name	Status
Reg. V subpt N '15 SS fin.pdf Supporting Statement A	2015-10-28

IC Document Collections

IC ID	Document Title	Status
204734	Instructions to consumers	Modified
204733	Automated redirects to accompany mail requests with identifying info	Modified
204732	Requesting an annual file through U.S. postal service mail	Modified
204730	Annual file disclosures provided via Internet	Unchanged
204729	Annual file disclosures processed by automated phone requests	Unchanged
204724	Negotiating contracts for services to handle phone requests	Modified
204723	Negotiating contracts for services to handle internet requests	Modified

ICR Details

OMB Control No: 3084-0128	ICR Reference No: 201510-3084-001
Status: Historical Active	Previous ICR Reference No: 201211-3084-001
Agency/Subagency: FTC	Agency Tracking No:
Title: Regulation V, subpart N
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/30/2015
	Date Received in OIRA: 10/28/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2018	36 Months From Approved	12/31/2015
Responses	33,320,375	0	30,681,750
Time Burden (Hours)	198,176	0	170,905
Cost Burden (Dollars)	5,965,750	0	6,111,000

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Abstract: The FTC seeks renewed three-year clearance for the FTC's shared enforcement with the Consumer Financial Protection Bureau of the disclosure requirements in subpart N of Regulation V.

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Authorizing Statute(s): Statute at Large: 123 Stat. 1734 Name of Statute: Credit Card Accountability Responsibility and Disclosure Act of 2009
   US Code: 16 USC 1681 Name of Law: Fair Credit Reporting Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 1029 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:
	80 FR 46988	08/06/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 66005	10/28/2015
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 7

IC Title	Form No.	Form Name
Negotiating contracts for services to handle phone requests
Annual file disclosures processed by automated phone requests
Instructions to consumers
Negotiating contracts for services to handle internet requests
Annual file disclosures provided via Internet
Requesting an annual file through U.S. postal service mail
Automated redirects to accompany mail requests with identifying info

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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	33,320,375	30,681,750	0	0	2,638,625	0
Annual Time Burden (Hours)	198,176	170,905	0	0	27,271	0
Annual Cost Burden (Dollars)	5,965,750	6,111,000	0	0	-145,250	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: The current estimates present increases of 27,271 hours and a $144,250 decrease in capital/non-labor cost, over the currently cleared FTC burden totals, after the halving for shared interagency enforcement. The increased burden estimate is largely attributable to an increased estimate of the projected number of requests for free annual file disclosures. The decrease in estimated non-labor/capital costs primarily owes to an erroneous unit cost input in 2012 in calculating estimated automated telephone costs. The entry had been $1.82, but $1.37 was the intended input at the time. Secondarily, the decrease in those costs is attributable to a modest decline in unit cost (from $1.37, as intended, in 2012, to $1.33 now) for the current calculation.

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Annual Cost to Federal Government: $80,000

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: 10/28/2015

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