Federal Register / Vol. 77, No. 12 / Thursday, January 19, 2012 / Notices 2685 

burden of the collection of information 

on respondents, including through the 

use of automated, electronic, 

mechanical, or other technological 

collection techniques or other forms of 

information technology. Burden means 

the total time, effort, or financial 

resources expended by persons to 

generate, maintain, retain, disclose or 

provide information to or for a Federal 

agency. This includes the time needed 

to review instructions; to develop, 

acquire, install and utilize technology 

and systems for the purpose of 

collecting, validating and verifying 

information, processing and 

maintaining information, and disclosing 

and providing information; to train 

personnel and to be able to respond to 

a collection of information, to search 

data sources, to complete and review 

the collection of information; and to 

transmit or otherwise disclose the 

information. 

Dated: January 13, 2012. 

Chris Willey, 

Chief Information Officer, Consumer 

Financial Protection Bureau. 

[FR Doc. 2012–986 Filed 1–18–12; 8:45 am] 

BILLING CODE P 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

[Docket No. CFPB–2012–0001] 

Proposed Collection; Comment 

Request 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Notice and request for comment. 

SUMMARY: The Consumer Financial 

Protection Bureau (CFPB), as part of its 

continuing effort to reduce paperwork 

burdens, invites the general public and 

other Federal agencies to comment on a 

proposed revision to an information 

collection, as required by the Paperwork 

Reduction Act of 1995, Public Law 104– 

13. The CFPB is soliciting comments 

regarding the information collection 

requirements under OMB control 

number 3170–0001, Report of Terms of 

Credit Card Plans. 

DATES: Written comments must be 

received on or before March 19, 2012 to 

be assured of consideration. 

ADDRESSES: You may submit comments, 

identified by Docket No. CFPB–2012– 

0001, by any of the following methods: 

• Electronic: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• Mail: Monica Jackson, Office of the 

Executive Secretary, Consumer 

Financial Protection Bureau, 1700 G 

Street NW., Washington, DC 20006. 

• Hand Delivery/Courier in Lieu of 

Mail: Monica Jackson, Office of the 

Executive Secretary, Consumer 

Financial Protection Bureau, 1700 G 

Street NW., Washington, DC 20006. 

All submissions must include the 

agency name and docket number. In 

general, all comments received will be 

posted without change to http:// 

www.regulations.gov. In addition, 

comments will be available for public 

inspection and copying at 1700 G Street 

NW., Washington, DC 20006, on official 

business days between the hours of 10 

a.m. and 5 p.m. Eastern Time. You can 

make an appointment to inspect the 

documents by telephoning (202) 435– 

7275. All comments, including 

attachments and other supporting 

materials, will become part of the public 

record and subject to public disclosure. 

Sensitive personal information, such as 

account numbers or social security 

numbers, should not be included. 

Comments will not be edited to remove 

any identifying or contact information. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information 

should be directed to Dan Quan, 

Research, Markets & Regulations, at 

(202) 435–7678. 

SUPPLEMENTARY INFORMATION: 

Title: Report of Terms of Credit Card 

Plans. 

OMB Control Number: 3170–0001. 

Abstract: Section 1100A of the DoddFrank Wall Street Reform and Consumer 

Protection Act (Dodd-Frank Act), Public 

Law 111–203, transferred the authority 

to conduct the semiannual Report of 

Terms of Credit Card, from the Federal 

Reserve Board to the CFPB on July 21, 

2011. About 150 credit card issuers, 

including the 25 largest issuers as 

measured by outstanding credit card 

receivables, report the information on 

credit card pricing and fees. Previously, 

the information was collected under 

OMB control number 7100–0239, Form 

Number 2572. Much of the information 

collected through the approved 

information collection is now widely 

available and in greater detail on thirdparty credit card shopping Web sites. 

The CFPB is looking for ways to make 

the report more informative and helpful 

for consumers. 

Type of Review: Revision of a 

currently approved collection. 

Affected Public: Credit Card issuers. 

Estimated Total Annual Burden 

Hours: 75. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for Office of Management and 

Budget approval. All comments will 

become a matter of public record. The 

public is invited to submit written 

comments concerning: (a) Whether the 

collection of information is necessary 

for the proper performance of the CFPB, 

including whether the information will 

have practical utility; (b) the accuracy of 

the above estimate of the burden of the 

information collection; (c) ways to 

enhance the quality, usefulness, and 

clarity of the information to be 

collected; and (d) ways to minimize the 

burden of the collection of information 

on respondents, including through the 

use of appropriate automated, 

electronic, mechanical or other 

technological collection techniques or 

other forms of information technology, 

e.g., permitting electronic submission of 

responses. 

Dated: January 9, 2012. 

Chris Willey, 

Chief Information Officer, Consumer 

Financial Protection Bureau. 

[FR Doc. 2012–987 Filed 1–18–12; 8:45 am] 

BILLING CODE 4810–AM–P 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

[Docket No. CFPB–2012–0002] 

Agency Information Collection 

Activities; Renewal of Currently 

Approved Collections; Comment 

Request 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Notice and request for comment. 

SUMMARY: The Bureau of Consumer 

Financial Protection (CFPB or the 

Bureau) is soliciting comments 

concerning the currently approved 

information collections associated with 

certain recently published interim final 

rules. This notice is published by the 

CFPB as part of its continuing effort to 

reduce paperwork and respondent 

burden. The public and other Federal 

agencies are invited to take this 

opportunity to comment on this 

information collection, as required by 

the Paperwork Reduction Act of 1995, 

Public Law 104–13. 

DATES: Comments must be received on 

or before March 19, 2012 to be assured 

of consideration. 

ADDRESSES: You may submit comments, 

identified by docket number CFPB– 

2012–0002 and the relevant OMB 

control numbers listed below, by any of 

the following methods: 

• Electronic: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

mstockstill on DSK4VPTVN1PROD with NOTICES

2686 Federal Register / Vol. 77, No. 12 / Thursday, January 19, 2012 / Notices 

1The seven Federal agencies are the Board of 

Governors (Board), the Federal Deposit Insurance 

Corporation (FDIC), the Federal Trade Commission 

(FTC), the National Credit Union Administration 

(NCUA), the Office of the Comptroller of the 

Currency (OCC), the Office of Thrift Supervision 

(OTS), and the Department of Housing and Urban 

Development (HUD) (collectively, the transferor 

agencies). See Section 1061(a)(2) of the Dodd-Frank 

Act. 

• Mail: Chris Willey, Consumer 

Financial Protection Bureau, 1700 G 

Street NW., Washington, DC 20006. 

• Hand Delivery/Courier in Lieu of 

Mail: Chris Willey, Consumer Financial 

Protection Bureau, 1700 G Street NW., 

Washington, DC 20006. 

In general, all comments will be 

posted without change to http:// 

www.regualtions.gov. In addition, 

comments will be available for public 

inspection and copying at 1700 G Street 

NW., Washington, DC 20006, on official 

business days between the hours of 10 

a.m. and 5 p.m. Eastern Time. You can 

make an appointment to inspect the 

documents by telephoning (202) 435– 

7275. All comments, including 

attachments and other supporting 

materials, will become part of the public 

record and subject to public disclosure. 

Sensitive personal information, such as 

account numbers or social security 

numbers, should not be included. 

Comments will not be edited to remove 

any identifying or contact information. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information may 

be obtained by contacting Chris Willey, 

Chief Information Officer, Consumer 

Financial Protection Bureau, 1700 G 

Street, Washington, DC 20006. 

SUPPLEMENTARY INFORMATION: Title X of 

the Dodd-Frank Wall Street Reform and 

Consumer Protection Act (Dodd-Frank 

Act) transferred rulemaking authority 

for a number of consumer financial 

protection laws from seven Federal 

agencies to the CFPB as of July 21, 

2011.1 In December 2011, the CFPB 

republished the regulations 

implementing those laws with technical 

and conforming changes to reflect the 

transfer of authority and certain other 

changes made by the Dodd-Frank Act. 

Prior to the republication, the CFPB 

obtained emergency approvals from the 

Office of Management and Budget 

(OMB) for the information collections 

for which the CFPB had administrative 

enforcement authority under these 

regulations. 

The burden hours associated with the 

collections identified below are not new 

burden hours. Rather, they are transfers 

of burden hours from the transferor 

agencies. In obtaining emergency 

approval, the CFPB’s estimates of the 

burden of the following information 

collections were based on the 

assumption that the total ongoing 

burden for these regulations, across all 

agencies, remained the same as it was 

before the regulations were restated by 

the CFPB. Furthermore, the CFPB 

primarily relied on the estimates 

previously developed by the transferor 

agencies concerning the number of 

entities subject to the regulations and 

the hours of paperwork burden under 

the statutes. To comply with the 

requirements under 44 U.S.C. 3506, the 

CFPB requests public comment on the 

following collections: 

OMB Number: 3170–0002. 

Type of Review: Extension. 

Title: Fair Credit Reporting Act 

(Regulation V) 12 CFR Part 1022. 

Description: The consumer 

disclosures included in Regulation V are 

designed to alert consumers that a 

financial institution furnished negative 

information about them to a consumer 

reporting agency, that they have a right 

to opt out of receiving marketing 

materials and credit or insurance offers, 

that their credit report was used in 

setting the material terms of credit that 

may be less favorable than the terms 

offered to consumers with better credit 

histories, that they maintain certain 

rights with respect to a theft of their 

identity that they reported to a 

consumer reporting agency, that they 

maintain rights with respect to knowing 

what is in their consumer reporting 

agency file, that they can request a free 

credit report, and that they can report a 

theft of their identity to the CFPB. 

Consumers then can use the information 

provided to consider how and when to 

check and use their credit reports. These 

disclosures are substantially the same as 

those previously provided by model 

forms promulgated by the Board, the 

FDIC, the NCUA, the OCC, the OTS and 

the FTC. 

Respondents: Businesses or other forprofits. 

Estimated Total Reporting Burden: 

4,737,000 hours. 

OMB Number: 3170–0004. 

Type of Review: Extension. 

Title: Truth in Savings (Regulation 

DD) 12 CFR 1030. 

Description: Federal agencies use the 

records to ascertain whether accurate 

and complete disclosures of depository 

accounts have been provided to 

consumers. This information also 

provides the primary evidence of law 

violations in Truth in Savings (TISA) 

enforcement actions brought by the 

CFPB and other agencies. Without the 

Regulation DD recordkeeping 

requirement, the agencies’ abilities to 

enforce TISA would be significantly 

impaired. Consumers rely on the 

disclosures required by TISA and 

Regulation DD to facilitate informed 

decisionmaking regarding deposit 

accounts offered at depository 

institutions. Without this information, 

consumers would be severely hindered 

in their ability to assess the true costs 

and terms of the deposit accounts 

offered. These disclosures and 

provisions are necessary for the 

enforcement agencies to enforce TISA 

and Regulation DD. 

Respondents: Businesses or other forprofits. 

Estimated Total Reporting Burden: 

23,000 hours. 

OMB Number: 3170–0005. 

Type of Review: Extension. 

Title: Secure and Fair Enforcement for 

Mortgage Licensing Act (Regulation G) 

12 CFR Part 1007. 

Description: The information 

collection will improve the flow of 

information to and between regulators; 

provide accountability and tracking of 

mortgage loan originators (MLOs), 

enhance consumer protections, reduce 

fraud in the residential mortgage loan 

origination process and provide 

consumers with easily accessible 

information at no charge regarding the 

employment history of, and publicly 

adjudicated disciplinary and 

enforcement actions against, MLOs. 

Respondents: Businesses or other forprofits. 

Estimated Total Reporting Burden: 

15,000 hours. 

OMB Number: 3170–0006. 

Type of Review: Extension. 

Title: Consumer Leasing Act 

(Regulation M) 12 CFR Part 1013. 

Description: Federal and state 

enforcement and private litigants use 

the records to ascertain whether 

accurate and complete disclosures of the 

cost of leases have been provided to 

consumers prior to consummation of the 

lease. This information provides the 

primary evidence of law violations in 

Consumer Leasing Act (CLA) 

enforcement actions brought by Federal 

agencies. Without Regulation M’s 

recordkeeping requirement, the 

agencies’ ability to enforce the CLA 

would be significantly impaired. As 

noted above, consumers rely upon the 

disclosures required by the CLA and 

Regulation M for information to 

comparison shop among leases, as well 

as to ascertain the true costs and terms 

of lease offers. Enforcement agencies 

and private litigants need the 

information in these disclosures and 

other requirements to enforce the CLA 

and Regulation M. 

Respondents: Businesses or other forprofits. 

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Federal Register / Vol. 77, No. 12 / Thursday, January 19, 2012 / Notices 2687 

Estimated Total Reporting Burden: 

100,000 hours. 

OMB Number: 3170–0007. 

Type of Review: Extension. 

Title: Mortgage Assistance Relief 

Services (Regulation O) 12 CFR Part 

1015. 

Description: The required disclosures 

under Regulation O assist prospective 

purchasers of mortgage assistance relief 

services (MARS) in making wellinformed decisions and avoiding 

deceptive and unfair acts and practices. 

The information that must be kept 

under Regulation O’s recordkeeping 

requirements is used by the CFPB and 

other relevant agencies for enforcement 

purposes and to ensure compliance by 

MARS providers with Regulation O. The 

information is requested only on a caseby-case basis. 

Respondents: Businesses or other forprofits. 

Estimated Total Reporting Burden: 

32,500 hours. 

OMB Number: 3170–0008. 

Type of Review: Extension. 

Title: Home Mortgage Disclosure Act 

(Regulation C) 12 CFR Part 1003. 

Description: The Home Mortgage 

Disclosure Act (HMDA) requires most 

mortgage lenders lending in 

metropolitan areas to collect data about 

their housing-related lending activity. 

Annually, lenders must report those 

data to the appropriate Federal agencies 

and make the data available to the 

public. The CFPB’s regulation requires 

covered financial institutions that meet 

certain thresholds to maintain data 

about home loan applications (e.g., the 

type of loan requested, the purpose of 

the loan, whether the loan was 

approved, and the type of purchaser if 

the loan was later sold), to update the 

information quarterly, and to report the 

information annually. The purpose of 

the information collection is: (i) To help 

determine whether financial institutions 

are serving the housing needs of their 

communities; (ii) to assist public 

officials in distributing public-sector 

investment so as to attract private 

investment to areas where it is needed; 

and (iii) to assist in identifying possible 

discriminatory lending patterns and 

enforcing antidiscrimination statutes. 

The information collection will assist 

the CFPB’s examiners, and examiners of 

other Federal supervisory agencies, in 

determining that the financial 

institutions they supervise comply with 

applicable provisions of HMDA. 

Respondents: Businesses or other forprofits. 

Estimated Total Reporting Burden: 

154,000 hours. 

OMB Number: 3170–0009. 

Type of Review: Extension. 

Title: Mortgage Acts and Practices 

(Regulation N) 12 CFR Part 1014. 

Description: The Omnibus 

Appropriations Act, as clarified by 

Section 511 of the Credit CARD Act, and 

as amended by Section 1097 of the 

Dodd-Frank Act directs the CFPB to 

issue rules that ‘‘relate to unfair or 

deceptive acts or practices’’ regarding 

mortgage loans. Regulation N prohibits 

misrepresentations about the terms of 

mortgage credit products in commercial 

communications and requires that 

covered persons keep certain related 

records for a period of twenty-four (24) 

months from last dissemination. 

Specifically, Regulation N requires 

covered persons to retain: (1) Copies of 

all materially different commercial 

communications disseminated, 

including but not limited to sales 

scripts, training materials, related 

marketing materials, Web sites, and 

weblogs; (2) documents describing or 

evidencing all mortgage credit products 

available to consumers during the time 

period in which each commercial 

communication was disseminated, 

including but not limited to the names 

and terms of each such mortgage credit 

product available to consumers; and (3) 

documents describing or evidencing all 

additional products or services (such as 

credit insurance or credit disability 

insurance) that are or may be offered or 

provided with the mortgage credit 

products available to consumers during 

the time period in which each 

commercial communication was 

disseminated, including but not limited 

to the names and terms of each such 

additional product or service available 

to consumers. A failure to keep such 

records is a violation of Regulation N. 

The information that Regulation N 

requires covered persons to retain is 

necessary to ensure efficient and 

effective law enforcement to address 

deceptive practices that occur in the 

mortgage advertising area. To gauge 

whether covered persons are complying 

with Regulation N or making prohibited 

misrepresentations, it is necessary to 

review the commercial communications 

that were disseminated and the 

information about the mortgage credit 

products and relevant additional 

products or services available during the 

time period in which each commercial 

communication was disseminated. 

Furthermore, a strong recordkeeping 

provision is necessary to foster effective 

enforcement of Regulation N. 

Respondents: Businesses or other forprofits. 

Estimated Total Reporting Burden: 

1,950,000 hours. This estimation reflects 

a correction to an error in the reporting 

burden included in the initial ICR for 

this collection. The previous submission 

included the entire burden under 

Regulation N. The current submission 

includes only the burden attributable to 

the CFPB. 

OMB Number: 3170–0010. 

Type of Review: Extension. 

Title: Privacy of Consumer Financial 

Information (Regulation P) 12 CFR Part 

1016. 

Description: Section 502 of the 

Gramm-Leach-Bliley Act (GLB Act) 

(Pub. L. 106–102) generally prohibits a 

financial institution from sharing 

nonpublic personal information about a 

consumer with nonaffiliated third 

parties unless the institution satisfies 

various disclosure requirements 

(including provision of initial privacy 

notices, annual notices, notices of 

revisions to the institution’s privacy 

policy, and opt-out notices) and the 

consumer has not elected to opt out of 

the information sharing. The CFPB is 

promulgating regulations to implement 

the GLB Act’s notice requirements and 

restrictions on a financial institution’s 

ability to disclose nonpublic personal 

information about consumers to 

nonaffiliated third parties. 

Respondents: Businesses or other forprofits. 

Estimated Total Reporting Burden: 

516,000 hours. 

OMB Number: 3170–0012. 

Type of Review: Extension. 

Title: Interstate Land Sales Full 

Disclosure Act (Regulations J, K, and L) 

12 CFR Part 1010. 

Description: The respondents are land 

developers (or attorneys or others who 

work for them). Developers must submit 

an initial Statement of Record 

(registration) to the CFPB and receive an 

effective date before they can offer lots 

for sale or lease. The Statement of 

Record includes the proposed property 

report and additional information and 

documents that support the developer’s 

disclosures in the property report. The 

developer is responsible for ensuring 

that the registration is accurate and does 

not omit information needed for a 

purchaser to make an informed 

decision. Developers must give 

purchasers an effective property report 

before the purchaser signs the sales 

contract. Developers must submit 

amendments to their registrations if any 

information in their initial registration 

changes. They must also submit a 

consolidated filing if they offer 

additional lots for sale. Each year the 

developer must submit an annual 

financial statement and an annual report 

that is prepared in the format required 

by Section 1010.310 of the regulations. 

A developer may voluntarily suspend 

his registration by submitting a 

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2688 Federal Register / Vol. 77, No. 12 / Thursday, January 19, 2012 / Notices 

Voluntary Suspension form or through 

the Annual Report. There are no other 

forms. The CFPB conducts a facial 

review of the submissions. The 

developer may request an Advisory 

Opinion if a developer has questions 

about the applicability of one of the 

exemptions from registration. A CFPB 

determination is required only if a 

developer claims an exemption from 

registration under the multiple site or 

substantial compliance exemption. The 

other 24 exemptions are selfdetermining. Finally, the CFPB may 

require additional information from 

developers in response to investigations 

of complaints. The Voluntary 

Suspension form is voluntary and is a 

convenient way for developers to 

voluntarily suspend their registration. 

The form is not required and is not the 

only way that developers may close 

their registration. They may also end 

their registration through their annual 

report. 

Respondents: Businesses or other forprofits. 

Estimated Total Reporting Burden: 

34,653 hours. 

OMB Number: 3170–0013. 

Type of Review: Extension. 

Title: Equal Credit Opportunity Act 

(Regulation B) 12 CFR Part 1002. 

Description: Federal and state 

enforcement agencies and private 

litigants use recordkeeping information 

to, for example, compare accepted and 

rejected applicants or the terms and 

conditions of accepted applicants in 

order to determine whether applicants 

are treated less favorably on the basis of 

race, sex, age, or other prohibited bases 

under the Equal Credit Opportunity Act 

(ECOA). Information derived from these 

records provides an important piece of 

evidence of law violations in ECOA 

enforcement actions brought by Federal 

agencies. Self-testing records (including 

for corrective action) are used by 

creditors to identify potential violations 

and reflect their efforts to correct the 

problem. Absent the Regulation B 

requirement that creditors retain 

monitoring information, the CFPB’s and 

other agencies’ ability to detect 

unlawful discrimination and enforce the 

ECOA would be significantly impaired. 

The CFPB, other agencies, and private 

litigants use adverse action notices, 

appraisal reports, and other information 

in the application file to compare 

applicants in order to determine 

whether any applicants are 

discriminated against on the basis of 

race/national origin, sex, marital status, 

age, or other prohibited bases under the 

ECOA. The adverse action notice 

requirement apprises applicants of their 

rights under the ECOA and of the basis 

for a creditor’s decision. Applicants use 

their copy of the appraisal to review 

(and possibly challenge) the accuracy 

and/or fairness of the information 

contained within, and to determine the 

role that the appraisal played in the 

credit decision. Applicants use the selftesting disclosure to facilitate 

understanding of creditors’ information 

collection, including its optionality. 

Respondents: Businesses or other forprofits. 

Estimated Total Reporting Burden: 

1,502,000 hours. 

OMB Number: 3170–0014. 

Type of Review: Extension. 

Title: Electronic Fund Transfer Act 

(Regulation E) 12 CFR Part 1005. 

Description: Federal agencies and 

private litigants use the records to 

ascertain whether accurate and 

complete disclosures of EFT services 

and other required actions (for example, 

error resolution and limitation of 

consumer liability for unauthorized 

transfers) have been provided. This 

information will provide the primary 

evidence of law violations in EFTA 

enforcement actions brought by the 

CFPB and other agencies. Without the 

Regulation E recordkeeping 

requirement, the agencies’ abilities to 

enforce the EFTA would be significantly 

impaired. Consumers rely on the 

disclosures required by the EFTA and 

Regulation E to facilitate informed EFT 

decision making. Without this 

information, consumers would be 

severely hindered in their ability to 

assess the true costs and terms of the 

transactions offered. Also, without the 

special error resolution and limitation of 

consumer liability provisions, 

consumers would be unable to detect 

and correct errors in their EFT 

transactions and fraudulent transfers. 

These disclosures and provisions are 

necessary for enforcement agencies to 

enforce the EFTA and Regulation E. 

Respondents: Businesses or other forprofits. 

Estimated Total Reporting Burden: 

1,904,000 hours. 

OMB Number: 3170–0015. 

Type of Review: Extension. 

Title: Truth in Lending Act 

(Regulation Z) 12 CFR Part 1026. 

Description: Federal and state 

enforcement agencies and private 

litigants use records retained under the 

requirement of Regulation Z to ascertain 

whether accurate and complete 

disclosures of the cost of credit have 

been provided to consumers prior to 

consummation of the credit obligation 

and, in some instances, during the loan 

term. The information is also used to 

determine whether other actions 

required under the TILA, including 

complying with billing error resolution 

procedures and limitation of consumer 

liability for unauthorized use of credit, 

have been met. The information 

retained provides the primary evidence 

of law violations in TILA enforcement 

actions brought by Federal agencies. 

Without the Regulation Z recordkeeping 

requirement, the agencies’ ability to 

enforce the TILA would be significantly 

impaired. As noted above, consumers 

rely on the disclosures required by the 

TILA and Regulation Z to shop among 

options and to facilitate informed credit 

decision making. Without this 

information, consumers would be 

severely hindered in their ability to 

assess the true costs and terms of 

financing offered. Also, without the 

special billing error information, 

consumers would be unable to detect 

and correct errors or fraudulent charges 

on their open-end credit accounts. 

Additionally, enforcement agencies and 

private litigants need the information in 

these disclosures to enforce the TILA 

and Regulation Z. See 15 U.S.C. 1607, 

1640. 

Respondents: Businesses or other forprofits. 

Estimated Total Reporting Burden: 

6,467,000 hours. 

OMB Number: 3170–0016. 

Type of Review: Extension. 

Title: Real Estate Settlement 

Procedures Act (Regulation X) 12 CFR 

Part 1024. 

Description: Certain disclosures are 

required by the Real Estate Settlement 

Procedures Act (RESPA) of 1974, as 

amended by Section 461 of the Housing 

and Urban-Rural Recovery Act of 1983 

(HURRA), and other various 

amendments. Required disclosures 

include: The Good Faith Estimate (GFE), 

the Special Information Booklet, the 

HUD–1/HUD–1A Settlement 

Statements, the Servicing Disclosure 

Statement, and, as applicable, the 

Servicing Transfer Disclosure. Other 

disclosures may be required under 

certain circumstances and include: The 

Initial Escrow Account Statement, the 

Annual Escrow Account Statement, the 

Affiliated Business Disclosure, and the 

Consumer Disclosure for Voluntary 

Escrow Account Payments. This 

collection helps to protect consumers in 

several respects. The Special 

Information Booklet helps to protect 

consumers from unnecessarily high 

settlement costs by providing 

information about the nature and cost of 

real estate settlement services. The GFE 

and HUD–1/HUD–1A Settlement 

Statements enable consumers to 

compare estimated settlement costs with 

actual settlement costs. The Affiliated 

Business Disclosure helps to protect 

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Federal Register / Vol. 77, No. 12 / Thursday, January 19, 2012 / Notices 2689 

borrowers from unnecessarily high 

settlement service charges due to the 

settlement service provider’s use of an 

affiliated provider. Disclosures related 

to the servicing of the mortgage loan 

help to protect consumers if the 

servicing of the loan could be or is 

transferred. Disclosures related to 

consumers’ escrow accounts help to 

protect them from unnecessarily high 

escrow charges. 

Respondents: Businesses or other forprofits. 

Estimated Total Reporting Burden: 

17,183,000 hours. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for Office of Management and 

Budget approval. All comments will 

become a matter of public record. The 

public is invited to submit written 

comments concerning: (a) Whether the 

collection of information is necessary 

for the proper performance of the CFPB, 

including whether the information will 

have practical utility; (b) the accuracy of 

the above estimate of the burden of the 

information collection; (c) ways to 

enhance the quality, usefulness, and 

clarity of the information to be 

collected; and (d) ways to minimize the 

burden of the collection of information 

on respondents, including through the 

use of automated collection techniques 

or other forms of information 

technology. 

Dated: January 12, 2012. 

Chris Willey, 

Chief Information Officer, Consumer 

Financial Protection Bureau. 

[FR Doc. 2012–988 Filed 1–18–12; 8:45 am] 

BILLING CODE 4810–AM–P 

BUREAU OF CONSUMER 

FINANANCIAL PROTECTION 

[Docket No. CFPB–2012–0004] 

Privacy Act of 1974, as Amended 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Notice of Proposed Privacy Act 

System of Records. 

SUMMARY: In accordance with the 

Privacy Act of 1974, as amended, the 

Bureau of Consumer Financial 

Protection, hereinto referred to as the 

Consumer Financial Protection Bureau 

(‘‘CFPB’’ or the ‘‘Bureau’’), gives notice 

of the establishment of a Privacy Act 

System of Records. 

DATES: Comments must be received no 

later than February 21, 2012. The new 

system of records will be effective 

February 28, 2012, unless the comments 

received result in a contrary 

determination. 

ADDRESSES: You may submit comments, 

identified by Docket No. CFPB–2012– 

0004, by any of the following methods: 

• Electronic: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• Mail or Hand Delivery/Courier in 

Lieu of Mail: Claire Stapleton, Chief 

Privacy Officer, Consumer Financial 

Protection Bureau, 1700 G Street NW., 

Washington, DC 20006. 

All submissions must include the 

agency name and docket number for this 

notice. In general all comments received 

will be posted without change to 

http://www.regulations.gov. In addition, 

comments will be available for public 

inspection and copying at 1700 G Street 

NW., Washington, DC 20006, on official 

business days between the hours of 10 

a.m. and 5 p.m. Eastern Time. You can 

make an appointment to inspect 

comments by telephoning (202) 435– 

7220. All comments, including 

attachments and other supporting 

materials, will become part of the public 

record and subject to public disclosure. 

You should submit only information 

that you wish to make available 

publicly. 

FOR FURTHER INFORMATION CONTACT: 

Claire Stapleton, Chief Privacy Officer, 

Consumer Financial Protection Bureau; 

1700 G Street NW., Washington, DC 

20006, (202) 435–7220. 

SUPPLEMENTARY INFORMATION: The DoddFrank Wall Street Reform and Consumer 

Protection Act (‘‘Act’’), Public Law 111– 

203, Title X, established the CFPB to 

administer and enforce Federal 

consumer financial protection law. The 

CFPB will maintain the records covered 

by this notice. 

The new system of records described 

in this notice ‘‘CFPB.013 –CFPB 

External Contact Database’’ will 

maintain records concerning the 

activities and operations of the CFPB’s 

external affairs activities. 

The report of the new system of 

records has been submitted to the 

Committee on Oversight and 

Government Reform of the House of 

Representatives, the Committee on 

Homeland Security and Governmental 

Affairs of the Senate, and the Office of 

Management and Budget, pursuant to 

Appendix I to OMB Circular A–130, 

‘‘Federal Agency Responsibilities for 

Maintaining Records About 

Individuals,’’ dated November 30, 2000, 

and the Privacy Act, 5 U.S.C. 552a(r). 

The system of records entitled 

‘‘CFPB.013—CFPB External Contact 

Database’’ is published in its entirety 

below. 

Dated: January 13, 2012. 

Claire Stapleton, 

Chief Privacy Officer. 

CFPB.013 

SYSTEM NAME: 

CFPB External Contact Database. 

SYSTEM LOCATION: 

Consumer Financial Protection 

Bureau, 1700 G Street NW., Washington 

DC, 20006. 

CATEGORIES OF INDIVIDUALS COVERED BY THE

SYSTEM: 

Individuals covered by this system 

include all individuals involved in 

CFPB communications with external 

affairs related activities, (1) Media 

representatives (including, without 

limitations, newspaper, magazine, radio 

or television station, wire service, or any 

other form of media) who request 

interviews or meetings with the CFPB 

staff; (2) individuals who accompany 

the CFPB staff on official travel; (3) 

individuals who request building passes 

for access to the CFPB facility 

(including, without limitations, media 

representatives, correspondents, 

technicians, and/or producers); (4) 

individuals who request information 

from the CFPB Communications Office 

concerning specific issues and/or topics; 

(5) individuals who have been contacted 

for media events, interviews or 

meetings, occasions, invitations, travel 

opportunities or the placement of 

articles; (6) individuals on the mailing 

list for the CFPB speeches or updates; 

(7) individuals who request the CFPB 

accept a speaking engagement, accept an 

honor, attend a function, or request 

information about the CFPB, and its 

mission and/or policies, etc.; (8) 

individuals who have participated in a 

survey or focus group sponsored by the 

CFPB; (9) CFPB contacts of 

nongovernmental organizations 

throughout the United States (media, 

external affairs, educational, etc.); (10) 

officials of Federal, state and local 

governments; (11) present and past 

CFPB staff (assignment history); (12) 

CFPB staff authorized to perform 

domestic speaking/media engagements; 

and (13) CFPB staff involved external 

affairs related communications. 

CATEGORIES OF RECORDS IN THE SYSTEM: 

Records in the system will include 

information related to communications 

with external affairs contacts. Such 

records include: (1) Contact information 

(name, business phone number, email 

address) for individuals who are 

involved in the operation of the CFPB’s 

external affairs activities; (2) domestic 

travel records, including dates, places 

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