Required Rulemaking on
Personal Financial Data Rights
Existing collection in use without an OMB Control Number
No
Regular
12/06/2024
Requested
Previously Approved
36 Months From Approved
32,640
0
7,105,235
0
28,119,000
0
Section 1033 of the Consumer Financial
Protection Act of 2010 (CFPA). CFPA Section 1033(a) and (b) provide
that, subject to rules prescribed by the CFPB, a covered person
shall make available to a consumer, upon request, information in
the control or possession of the covered person concerning the
consumer financial product or service that the consumer obtained
from such covered person, subject to certain exceptions. The
information must be made available in an electronic form usable by
consumers. Section 1002 of the CFPA defines certain terms used in
CFPA Section 1033, including defining consumer as “an individual or
an agent, trustee, or representative acting on behalf of an
individual.”
This New regulation imposes
additional record keeping and third-party disclosure requirements
on respondents which add some burden, both one-time and
ongoing
$0
No
No
No
No
Yes
No
No
Michael Scherzer 202
435-7700
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.
3170-XXXX Supporting Statement (1033 Final Rule) (4).docx
PL 111-203 (Dodd-Frank).pdf
1033.341/1033.201/1033.301/1033.311 (ongoing)