The Red Flags Regulations (Under the Fair and Accurate Credit Transactions Act)

ICR 201810-3084-001

OMB: 3084-0137

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2018-11-05
ICR Details
3084-0137 201810-3084-001
Active 201509-3084-001
FTC
The Red Flags Regulations (Under the Fair and Accurate Credit Transactions Act)
Extension without change of a currently approved collection   No
Regular
Approved without change 12/13/2018
Retrieve Notice of Action (NOA) 11/13/2018
  Inventory as of this Action Requested Previously Approved
12/31/2021 36 Months From Approved 12/31/2018
295,327 0 2,063,878
1,385,290 0 2,296,864
0 0 0

The Rule implements sections 114 and 315 of the Fair and Accurate Credit Transactions Act of 2003 ("FACT Act"), as amended by the Red Flags Program Clarification Act of 2010. These rules enhance the ability of consumers to resolve problems caused by identity theft and increase the accuracy of consumer reports.

PL: Pub.L. 108 - 159 114, 315 Name of Law: Fair and Accurate Credit Transactions Act
  
US Code: 15 USC 1681m(e)(4) Name of Law: Red Flag Program Clarification Act of 2010
PL: Pub.L. 111 - 203 1088 Name of Law: Dodd Frank Wall Street Reform and Consumer Protection Act,

Not associated with rulemaking

  83 FR 39096 08/08/2018
83 FR 56325 11/13/2018
No

  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 295,327 2,063,878 0 0 -1,768,551 0
Annual Time Burden (Hours) 1,385,290 2,296,864 0 0 -911,574 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The chief change is a corrective adjustment to the estimated population subject to section 315 of the FACT Act, which previously had been greatly overstated. The prior estimate failed to recognize that, pursuant to the Dodd-Frank Act, the FTC Address Discrepancy Rule covers only users of consumer reports that are motor vehicle dealers described in section 1029(a) of that Act and that are predominantly engaged in the sale and servicing of motor vehicles, the leasing and servicing of them, or both.

$65,516
No
    No
    No
No
No
No
Uncollected
Mark Eichorn 202 326-3053 meichorn@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.
11/13/2018


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