Insurance Sales Consumer Protections

Forms and Documents

Document Name	Status
3064-0140 - 30 Day Notice - 2023.pdf Supplementary Document	2023-07-20
3064-0140 - 60 Day Notice - 2023.pdf Supplementary Document	2023-07-20
SPST 0140 Insurance Sales Consumer Protection 2023 FINAL.docx Supporting Statement A	2023-07-20

IC Document Collections

IC ID	Document Title	Status
31957	Insurance Sales Consumer Protections	Modified

ICR Details

OMB Control No: 3064-0140	ICR Reference No: 202307-3064-008
Status: Received in OIRA	Previous ICR Reference No: 202003-3064-005
Agency/Subagency: FDIC	Agency Tracking No:
Title: Insurance Sales Consumer Protections
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 07/20/2023

	Requested	Previously Approved
Expiration Date	36 Months From Approved	07/31/2023
Responses	2,146	2,146
Time Burden (Hours)	10,730	10,730
Cost Burden (Dollars)	0	0

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Abstract: Covered persons must make certain disclosures regarding insurance products and annuities.

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Authorizing Statute(s): PL: Pub.L. 106 - 102 305 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:
	88 FR 13117	03/02/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 28549	05/04/2023
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
Insurance Sales Consumer Protections

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ICR Summary of Burden

	Total Request	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	2,146	2,146	0	0	0	0
Annual Time Burden (Hours)	10,730	10,730	0	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:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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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: 07/20/2023

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