Extension without change of a currently approved collection
No
Regular
11/22/2024
Requested
Previously Approved
36 Months From Approved
11/30/2024
5,563,416,032
5,563,416,032
7,435,956
7,435,958
0
0
The Federal Trade Commission (FTC)
seeks renewed clearance for the information collection requirements
associated with the agency's enforcement of the Consumer Financial
Protection Bureau's (CFPB) Regulation E. This regulation requires
accurate disclosure of the costs, terms, and rights relating to
electronic fund transfer services to consumers. It also requires
financial institutions to retain records sufficient to show
compliance with the regulation. Given their generally shared
enforcement jurisdiction for Regulation E under the Dodd-Frank Act,
the CFPB and the FTC have divided the FTC’s previously cleared PRA
burden between them, except that the FTC has wholly assumed all of
the burden estimates associated with motor vehicle dealers and is
also doing so, when appropriate, regarding estimated burden for
state-chartered credit unions.
There are no program changes.
The projected decrease of two annual burden hours from the
currently approved clearance is caused by rounding discrepancies
between the estimates for 2021 and this renewal request. FTC Staff
adjusted their labor cost estimates to take into account updated
BLS wage data.
$1,055,953
No
No
No
No
Yes
No
No
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.
Regulation E - SS - 2024 - FINAL.pdf
Recordkeeping for firms offering EFT services to consumers