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[Federal Register Volume 79, Number 13 (Tuesday, January 21, 2014)]
[Notices]
[Pages 3348-3349]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-00945]

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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No: CFPB-2014-0002]

Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for comment.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA), 
the Consumer Financial Protection Bureau (Bureau) is proposing to renew 
the Office of Management and Budget (OMB) approval for an existing 
information collection titled, ``Fair Credit Reporting Act (Regulation 
V) 12 CFR 1022''.

DATES: Written comments are encouraged and must be received on or 
before February 20, 2014 to be assured of consideration.

ADDRESSES: You may submit comments, identified by the title of the 
information collection, OMB Control Number (see below), and docket 
number (see above), by any of the following methods:
     Electronic: http://www.regulations.gov. Follow the 
instructions for submitting comments.
     Mail/Hand Delivery/Courier: Consumer Financial Protection 
Bureau (Attention: PRA Office), 1700 G Street NW., Washington, DC 
20552.
    Please note that comments submitted by fax or email and those 
submitted after the comment period will not be accepted. In general, 
all comments received will be posted without change to regulations.gov, 
including any personal information provided. Sensitive personal 
information, such as account numbers or social security numbers, should 
not be included.

FOR FURTHER INFORMATION CONTACT: Documentation prepared in support of 
this information collection request is available at www.reginfo.gov. 
Requests for additional information should be directed to the Consumer 
Financial Protection Bureau, (Attention: PRA Office), 1700 G Street 
NW., Washington, DC 20552, (202) 435-9575, or email: PRA@cfpb.gov. 
Please do not submit comments to this email box.

SUPPLEMENTARY INFORMATION:

[[Page 3349]]

    Title of Collection: Fair Credit Reporting Act (Regulation V) 12 
CFR Part 1022.
    OMB Control Number: 3170-0002.
    Type of Review: Extension without change of a currently approved 
collection.
    Affected Public: Private sector.
    Estimated Number of Respondents: 155.\1\
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    \1\ The Bureau allocated half of the Federal Trade Commission 
(FTC) burden amount after subtracting the burden which the FTC has 
attributed to itself for motor vehicle dealers. Section 1029 of the 
Dodd-Frank Act exempts certain motor vehicle dealers from the 
Bureau's enforcement authority. However, due to the difficulty of 
making a reliable estimate of those dealers, the FTC has attributed 
to itself the PRA burden for all motor vehicle dealers. This 
attribution does not change the actual enforcement authority of 
either the FTC or the CFPB.
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    Estimated Total Annual Burden Hours: 4,156,000.
    Abstract: 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.
    Request for Comments: The Bureau issued a 60-day Federal Register 
notice on July 25, 2013 [78 FR 44930]. Comments were solicited and 
continue to be invited on: (a) Whether the collection of information is 
necessary for the proper performance of the functions of the Bureau, 
including whether the information will have practical utility; (b) The 
accuracy of the Bureau's estimate of the burden of the collection of 
information, including the validity of the methods and the assumptions 
used; (c) Ways to enhance the quality, utility, 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. Comments submitted in response to this notice will be 
summarized and/or included in the request for Office of Management and 
Budget (OMB) approval. All comments will become a matter of public 
record.

    Dated: January 14, 2014.
Ashwin Vasan,
Chief Information Officer, Bureau of Consumer Financial Protection.
[FR Doc. 2014-00945 Filed 1-17-14; 8:45 am]
BILLING CODE 4810-AM-P
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