[Federal Register Volume 83, Number 144 (Thursday, July 26, 2018)]
[Notices]
[Pages 35477-35485]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-15979]


=======================================================================
-----------------------------------------------------------------------

FEDERAL TRADE COMMISSION


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

AGENCY: Federal Trade Commission (``FTC'' or ``Commission'').

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: In compliance with the Paperwork Reduction Act (PRA) of 1995, 
the FTC is seeking public comments on its request to the Office of 
Management and Budget (``OMB'') to extend for three years the current 
PRA clearances for the information collection requirements in four 
consumer financial regulations that the Commission enforces. Those 
clearances expire on July 31, 2018.

DATES: Comments must be filed by August 27, 2018.

ADDRESSES: Interested parties may file a comment online or on paper, by 
following the instructions in the Request for Comment part of the 
SUPPLEMENTARY INFORMATION section below. Write ``Regs BEMZ, PRA 
Comments, P084812'' on your comment and file your comment online at 
https://ftcpublic.commentworks.com/ftc/RegsBEMZpra2 by following the 
instructions on the web-based form. If you prefer to file your comment 
on paper, mail your comment to the following address: Federal Trade 
Commission, Office of the Secretary, 600 Pennsylvania Avenue NW, Suite 
CC-5610 (Annex J), Washington, DC 20580, or deliver your comment to the 
following address: Federal Trade Commission, Office of the Secretary, 
Constitution Center, 400 7th Street SW, 5th Floor, Suite 5610 (Annex 
J), Washington, DC 20024.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the proposed information requirements should be addressed to 
Carole Reynolds or Stephanie Rosenthal, Attorneys, Division of 
Financial Practices, Bureau of Consumer Protection, Federal Trade 
Commission, 600 Pennsylvania Ave. NW, Washington, DC 20580, (202) 326-
3224.

SUPPLEMENTARY INFORMATION: On April 3, 2018, the FTC sought public 
comment on the information collection requirements associated with the 
four consumer financial regulations at issue. 83 FR 14273. No relevant 
comments were received. The four regulations covered by that and this 
Notice were and are, respectively:
    (1) Regulations promulgated under the Equal Credit Opportunity Act, 
15 U.S.C. 1691 et seq. (``ECOA'') (``Regulation B'') (OMB Control 
Number: 3084-0087);
    (2) Regulations promulgated under the Electronic Fund Transfer Act, 
15 U.S.C. 1693 et seq. (``EFTA'') (``Regulation E'') (OMB Control 
Number: 3084-0085);
    (3) Regulations promulgated under the Consumer Leasing Act, 15 
U.S.C. 1667 et seq. (``CLA'') (``Regulation M'') (OMB Control Number: 
3084-0086); and
    (4) Regulations promulgated under the Truth-In-Lending Act, 15 
U.S.C. 1601 et seq. (``TILA'') (``Regulation Z'') (OMB Control Number: 
3084-0088).
    The FTC enforces these statutes as to all businesses engaged in 
conduct that these laws cover unless the businesses (such as federally 
chartered or insured depository institutions) are subject to the 
regulatory authority of another federal agency.
    Under the Dodd-Frank Wall Street Reform and Consumer Protection Act 
(``Dodd-Frank Act''), Public Law 111-203, 124 Stat. 1376 (2010), almost 
all rulemaking authority for the ECOA, EFTA, CLA, and TILA transferred 
from the Board of Governors of the Federal Reserve System (Board) to 
the Bureau of Consumer Financial Protection (BCFP) on July 21, 2011 
(``transfer date''). To implement this transferred authority, the BCFP 
published interim final rules for new regulations in 12 CFR part 1002 
(Regulation B), 12 CFR part 1005 (Regulation E), 12 CFR part 1013 
(Regulation M), and 12 CFR 1026 (Regulation Z) for those entities under 
its rulemaking jurisdiction, which were issued as final rules 
thereafter.\1\ Although the Dodd-Frank Act transferred most rulemaking 
authority under ECOA, EFTA, CLA, and TILA to the BCFP, the Board 
retained rulemaking authority for certain motor vehicle dealers \2\ 
under these statutes and also for certain interchange-related 
requirements under EFTA.\3\
---------------------------------------------------------------------------

    \1\ 12 CFR 1002 (Reg. B) (76 FR 79442, Dec. 21, 2011) (81 FR 
25323, Apr. 28, 2016); 12 CFR 1005 (Reg. E) (76 FR 81020, Dec. 27, 
2011); (81 FR 25323, Apr. 28, 2016) 12 CFR 1013 (Reg. M) (76 FR 
78500, Dec. 19, 2011) (81 FR 25323, Apr. 28, 2016); 12 CFR 1026 
(Reg. Z) (76 FR 79768, Dec. 22, 2011) (81 FR 25323, Apr. 28, 2016).
    \2\ Generally, these are dealers ``predominantly engaged in the 
sale and servicing of motor vehicles, the leasing and servicing of 
motor vehicles, or both.'' See Dodd-Frank Act, Sec.  1029(a)-(c).
    \3\ See Dodd-Frank Act, Sec.  1075 (these requirements are 
implemented through Board Regulation II, 12 CFR 235, rather than 
EFTA's implementing Regulation E).
---------------------------------------------------------------------------

    As a result of the Dodd-Frank Act, the FTC and the BCFP generally 
share the authority to enforce Regulations B, E, M, and Z for entities 
for which the FTC had enforcement authority before the Act.\4\ For 
certain motor vehicle dealers and for certain state-chartered credit 
unions, the FTC generally has exclusive enforcement jurisdiction.\5\ 
The division

[[Page 35478]]

of PRA burden hours not attributable to motor vehicle dealers and, when 
appropriate, to state-chartered credit unions, is reflected in the 
BCFP's PRA clearance requests to OMB, as well as in the FTC's burden 
estimates below. The burden estimates associated with all motor vehicle 
dealers and now, when appropriate, the estimated burden estimates 
associated with state-chartered credit unions, are reflected in the 
burden summaries below as a ``carve-out.'' \6\
---------------------------------------------------------------------------

    \4\ This covers a myriad of entities that provide credit to 
consumers, as well as BCFP retaining concurrent jurisdiction over 
certain types of motor vehicle dealers. See Dodd-Frank Act Sec.  
1029(a), as limited by subsection (b) as to motor vehicle dealers. 
Subsection (b) does not preclude BCFP regulatory oversight 
regarding, among others, businesses that extend retail credit or 
retail leases for motor vehicles in which the credit or lease 
offered is provided directly from those businesses to consumers, 
where the contract is not routinely assigned to unaffiliated third 
parties.
    \5\ See Dodd-Frank Act Sec.  1029(a)-(c) regarding motor vehicle 
dealers, as limited by subsection (b) concerning motor vehicle 
dealers engaged in direct financing for vehicles they sell, lease, 
or service. Subsection (c) recognizes the FTC's ongoing enforcement 
authority over motor vehicle dealers predominantly engaged in the 
sale and servicing of motor vehicles, the leasing and servicing of 
motor vehicles, or both, including those that, among other things, 
assign their contracts to unaffiliated third parties.
    The FTC's enforcement authority also includes state-chartered 
credit unions. In varying ways, other federal agencies also have 
enforcement authority over state-chartered credit unions. For 
example, for large credit unions (exceeding $10 billion in assets), 
the BCFP has certain authority. The National Credit Union 
Administration also has certain authority for state-chartered 
federally insured credit unions, and it additionally provides 
insurance for certain state-chartered credit unions through the 
National Credit Union Share Insurance Fund and examines state-
chartered credit unions for various purposes. See generally Dodd-
Frank Act, Sec. Sec.  1061, 1025, 1026.
    \6\ As of the third quarter of 2017, there was approximately the 
following number of State-chartered credit unions: 2,347 state-
chartered credit unions--2,106 federally insured, 125 privately 
insured, and 116 in Puerto Rico insured by a quasi-governmental 
entity. Because of the difficulty in parsing out PRA burden for such 
entities in view of the overlapping agency authority (see supra note 
5), the FTC's estimates include PRA burden for all state-chartered 
credit unions (rounded to 2,300). Similarly, because it is not 
practicable for PRA purposes to estimate the portion of motor 
vehicle dealers that engage in one form of financing versus another 
(and that would or would not be subject to BCFP oversight), the FTC 
staff's ``carve-out'' for this PRA burden analysis reflects a 
general estimated volume of motor vehicle dealers. These 
attributions of burden estimation for motor vehicle dealers and 
state-chartered credit unions do not bear on actual enforcement 
authority.
---------------------------------------------------------------------------

    The regulations impose certain recordkeeping and disclosure 
requirements associated with providing credit or with other financial 
transactions. Under the PRA, 44 U.S.C. 3501-3521, Federal agencies must 
get OMB approval for each collection of information they conduct or 
sponsor. ``Collection of information'' includes agency requests or 
requirements to submit reports, keep records, or provide information to 
a third party. See 44 U.S.C. 3502(3); 5 CFR 1320.3(c).
    The required recordkeeping and disclosures do not impose PRA burden 
on some covered entities because they make those disclosures and 
maintain records in their normal course of activities.\7\ For other 
covered entities that do not, their compliance burden will vary widely 
depending on the extent to which they have developed effective 
computer-based or electronic systems and procedures to communicate and 
document required recordkeeping and disclosures.\8\
---------------------------------------------------------------------------

    \7\ PRA ``burden'' does not include ``time, effort, and 
financial resources'' expended in the normal course of business, 
regardless of any regulatory requirement. See 5 CFR 1320.3(b)(2).
    \8\ For example, large companies may use computer-based and/or 
electronic means to provide required disclosures, including issuing 
some disclosures en masse, e.g., notice of changes in terms. Smaller 
companies may have less automated compliance systems but may 
nonetheless rely on electronic mechanisms for disclosures and 
recordkeeping. Regardless of size, some entities may utilize 
compliance systems that are fully integrated into their general 
business operational system; if so, they may have minimal additional 
burden. Other entities may have incorporated fewer of these 
approaches into their systems and thus may have a higher burden.
---------------------------------------------------------------------------

    Covered entities, may incur some burden associated with ensuring 
that they do not prematurely dispose of relevant records (i.e., during 
the time span they must retain records under the applicable 
regulation).
    The regulations also require covered entities to make disclosures 
to third parties. Related compliance involves set-up/monitoring and 
transaction-specific costs. ``Set-up'' burden, incurred only by covered 
new entrants, includes their identifying the applicable required 
disclosures, determining how best to comply, and designing and 
developing compliance systems and procedures. ``Monitoring'' burden, 
incurred by all covered entities, includes their time and costs to 
review changes to regulatory requirements, make necessary revisions to 
compliance systems and procedures, and to monitor the ongoing operation 
of systems and procedures to ensure continued compliance. 
``Transaction-related'' burden refers to the time and cost associated 
with providing the various required disclosures in individual 
transactions, thus, generally, of much less magnitude than 
``monitoring'' (or ``setup'') burden. The FTC's estimates of 
transaction time and volume are intended as averages.
    Calculating the burden associated with the regulations' 
requirements is very difficult because of the highly diverse group of 
affected entities. The ``respondents'' included in the following burden 
calculations consist of, among others, credit and lease advertisers, 
creditors, owners (such as purchasers and assignees) of credit 
obligations, financial institutions, service providers, certain 
government agencies and others involved in delivering electronic fund 
transfers (``EFTs'') of government benefits, and lessors.\9\ The burden 
estimates represent FTC staff's best assessment, based on its knowledge 
and expertise relating to the financial services industry, of the 
average time to complete the aforementioned tasks associated with 
recordkeeping and disclosure. Staff considered the wide variations in 
covered entities' (1) size and location; (2) credit or lease products 
offered, extended, or advertised, and their particular terms; (3) EFT 
types used; (4) types and frequency of adverse actions taken; (5) types 
of appraisal reports utilized; and (6) computer systems and electronic 
features of compliance operations.
---------------------------------------------------------------------------

    \9\ The Commission generally does not have jurisdiction over 
banks, thrifts, and federal credit unions under the applicable 
regulations.
---------------------------------------------------------------------------

    The cost estimates that follow relate solely to labor costs, and 
they include the time necessary to train employees how to comply with 
the regulations. Staff calculated labor costs by multiplying 
appropriate hourly wages by the burden hours described above. The 
hourly wages used were $56 for managerial oversight, $42 for skilled 
technical services, and $17 for clerical work. These figures are 
averages drawn from Bureau of Labor Statistics data.\10\ Further, the 
FTC cost estimates assume the following labor category apportionments, 
except where otherwise indicated below: Recordkeeping--10% skilled 
technical, 90% clerical; disclosure--10% managerial, 90% skilled 
technical.
---------------------------------------------------------------------------

    \10\ These inputs are based broadly on mean hourly data found 
within the ``Bureau of Labor Statistics, Economic News Release,'' 
March 31, 2017, Table 1, ``National employment and wage data from 
the Occupational Employment Statistics survey by occupation, May 
2016.'' http://www.bls.gov/news.release/ocwage.t01.htm.
---------------------------------------------------------------------------

    The applicable PRA requirements impose minimal capital or other 
non-labor costs. Affected entities generally already have the necessary 
equipment for other business purposes. Similarly, FTC staff estimates 
that compliance with these rules entails minimal printing and copying 
costs beyond that associated with documenting financial transactions in 
the normal course of business.
    The following discussion and tables present FTC estimates under the 
PRA of recordkeeping and disclosure average time and labor costs, 
excluding that which the FTC believes entities incur customarily in the 
normal course of business \11\ and information compiled and produced in 
response to FTC law enforcement investigations or prosecutions.\12\
---------------------------------------------------------------------------

    \11\ See supra note 7 and accompanying text.
    \12\ See 5 CFR 1320.4(a) (excluding information collected in 
response to, among other things, a federal civil action or ``during 
the conduct of an administrative action, investigation, or audit 
involving an agency against specific individuals or entities'').

---------------------------------------------------------------------------

[[Page 35479]]

1. Regulation B

    The ECOA prohibits discrimination in the extension of credit. 
Regulation B implements the ECOA, establishing disclosure requirements 
to assist customers in understanding their rights under the ECOA and 
recordkeeping requirements to assist agencies in enforcement. 
Regulation B applies to retailers, mortgage lenders, mortgage brokers, 
finance companies, and others.

Recordkeeping

    FTC staff estimates that Regulation B's general recordkeeping 
requirements affect 530,762 credit firms subject to the Commission's 
jurisdiction, at an average annual burden of 1.25 hours per firm for a 
total of 663,453 hours.\13\ Staff also estimates that the requirement 
that mortgage creditors monitor information about race/national origin, 
sex, age, and marital status imposes a maximum burden of one minute 
each (of skilled technical time) for approximately 2.6 million credit 
applications (based on industry data regarding the approximate number 
of mortgage purchase and refinance originations), for a total of 43,333 
hours.\14\ Staff also estimates that recordkeeping of self-testing 
subject to the regulation would affect 1,500 firms, with an average 
annual burden of one hour (of skilled technical time) per firm, for a 
total of 1,500 hours, and that recordkeeping of any corrective action 
as a result of self-testing would affect 10% of them, i.e., 150 firms, 
with an average annual burden of four hours (of skilled technical time) 
per firm, for a total of 600 hours.\15\ Keeping associated records of 
race/national origin, sex, age, and marital status requires an 
estimated one minute of skilled technical time.
---------------------------------------------------------------------------

    \13\ Section 1071 of the Dodd-Frank Act amended the ECOA to 
require financial institutions to collect and report information 
concerning credit applications by women- or minority-owned 
businesses and small businesses, effective on the July 21, 2011 
transfer date. Both the BCFP and the Board have exempted affected 
entities from complying with this requirement until a date set by 
the prospective final rules these agencies issue to implement it. 
The Commission will address PRA burden for its enforcement of the 
requirement after the BCFP and the Board have issued the associated 
final rules.
    \14\ Regulation B contains model forms that creditors may use to 
gather and retain the required information.
    \15\ In contrast to banks, for example, entities under FTC 
jurisdiction are not subject to audits by the FTC for compliance 
with Regulation B; rather they may be subject to FTC investigations 
and enforcement actions. This may impact the level of self-testing 
(as specifically defined by Regulation B) in a given year, and staff 
has sought to address such factors in its burden estimates.
---------------------------------------------------------------------------

Disclosure

    Regulation B requires that creditors (i.e., entities that regularly 
participate in the decision whether to extend credit under Regulation 
B) provide notices whenever they take adverse action, such as denial of 
a credit application. It requires entities that extend mortgage credit 
with first liens to provide a copy of the appraisal report or other 
written valuation to applicants.\16\ Regulation B also requires that 
for accounts that spouses may use or for which they are contractually 
liable, creditors who report credit history must do so in a manner 
reflecting both spouses' participation. Further, it requires creditors 
that collect applicant characteristics for purposes of conducting a 
self-test to disclose to those applicants that: (1) Providing the 
information is optional; (2) the creditor will not take the information 
into account in any aspect of the credit transactions; and (3) if 
applicable, the information will be noted by visual observation or 
surname if the applicant chooses not to provide it.\17\
---------------------------------------------------------------------------

    \16\ While the rule also requires the creditor to provide a 
short written disclosure regarding the appraisal process, the 
disclosure is provided by the BCFP, and is thus not a ``collection 
of information'' for PRA purposes. See 5 CFR 1320.3(c)(2). 
Accordingly, it is not included in burden estimates below.
    \17\ The disclosure may be provided orally or in writing. The 
model form provided by Regulation B assists creditors in providing 
the written disclosure, which helps to reduce burden.
---------------------------------------------------------------------------

Burden Totals
Recordkeeping: 708,886 hours (631,281 + 77,605 carve-out); $14,845,512 
($13,316,477 + $1,529,035 carve-out), associated labor costs
Disclosures: 1,088,912 hours (961,224 + 127,688 carve-out); $47,258,792 
($41,717,144 + $5,541,648 carve-out), associated labor costs

                                                         Regulation B--Disclosures--Burden Hours
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                      Setup/monitoring \1\                   Transaction-related \2\
                                                            --------------------------------------------------------------------------------
                                                                             Average    Total setup/                 Average       Total        Total
                        Disclosures                                         burden per   monitoring    Number of    burden per  transaction     Burden
                                                              Respondents   respondent     burden    transactions  transaction     burden      (hours)
                                                                             (hours)      (hours)                   (minutes)     (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Credit history reporting...................................       133,553          .25       33,388    60,098,850          .25      250,412      283,800
Adverse action notices.....................................       530,762          .75      398,072    92,883,350          .25      387,014      785,086
Appraisal reports/written valuations.......................         4,650            1        4,650     1,725,150          .50       14,376       19,026
Self-test disclosures......................................         1,500           .5          750        60,000          .25          250        1,000
                                                            --------------------------------------------------------------------------------------------
    Total..................................................  ............  ...........  ...........  ............  ...........  ...........    1,088,912
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ The estimates assume that all applicable entities would be affected, with respect to appraisal reports and other written valuations. Given market
  changes, the estimated number of these entities is decreased slightly while the estimated number of entities affected by credit history, adverse
  action and self-test burden is increased slightly from the most recently cleared FTC burden estimates.
\2\ Applicable transactions have increased for appraisal reports; however, credit history, adverse action and self-test transactions have decreased,
  based on market changes.


                                                    Regulation B--Recordkeeping and Disclosures--Cost
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                      Managerial             Skilled technical             Clerical
                                                              ------------------------------------------------------------------------------  Total cost
                        Required task                              Time      Cost ($56/      Time      Cost ($42/      Time      Cost ($17/      ($)
                                                                 (hours)        hr.)       (hours)        hr.)       (hours)        hr.)
--------------------------------------------------------------------------------------------------------------------------------------------------------
General recordkeeping........................................            0           $0       66,345   $2,786,490      597,108  $10,150,836  $12,937,326
Other recordkeeping..........................................            0            0       43,333    1,819,986            0            0    1,819,986
Recordkeeping of self-test...................................            0            0        1,500       63,000            0            0       63,000
Recordkeeping of corrective action...........................            0            0          600       25,200            0            0       25,200
                                                              ------------------------------------------------------------------------------------------
    Total Recordkeeping......................................  ...........  ...........  ...........  ...........  ...........  ...........   14,845,512
Disclosures:

[[Page 35480]]

 
    Credit history reporting.................................       28,380    1,589,280      255,420   10,727,640            0            0   12,316,920
    Adverse action notices...................................       78,509    4,396,504      706,577   29,676,234            0            0   34,072,738
    Appraisal reports........................................        1,903      106,568       17,123      719,166            0            0      825,734
    Self-test disclosure.....................................          100        5,600          900       37,800            0            0       43,400
                                                              ------------------------------------------------------------------------------------------
        Total Disclosures....................................  ...........  ...........  ...........  ...........  ...........  ...........  $47,258,792
                                                              ------------------------------------------------------------------------------------------
            Total Recordkeeping and Disclosures..............  ...........  ...........  ...........  ...........  ...........  ...........  $62,104,304
--------------------------------------------------------------------------------------------------------------------------------------------------------

2. Regulation E

    The EFTA requires that covered entities provide consumers with 
accurate disclosure of the costs, terms, and rights relating to EFT and 
certain other services. Regulation E implements the EFTA, establishing 
disclosure and other requirements to aid consumers and recordkeeping 
requirements to assist agencies with enforcement. It applies to 
financial institutions, retailers, gift card issuers and others that 
provide gift cards, service providers, various federal and state 
agencies offering EFTs, prepaid account entities, etc. Staff estimates 
that Regulation E's recordkeeping requirements affect 251,053 firms 
offering EFT and certain other services to consumers and that are 
subject to the Commission's jurisdiction, at an average annual burden 
of one hour per firm, for a total of 251,053 hours. This represents a 
decrease from prior figures, reflecting a decrease in entities under 
FTC jurisdiction engaged in applicable activities.

Burden Totals

Recordkeeping: 251,053 hours (233,947 + 17,106 carve-out); $4,895,526 
($4,561,949 + $333,577 carve-out), associated labor costs
Disclosures: 7,184,905 hours (7,165,931 + 18,974 carve-out); 
$311,824,884 ($310,999,818 + $825,066 carve-out), associated labor 
costs

                                                         Regulation E--Disclosures--Burden Hours
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                   Setup/monitoring \1\                    Transaction-related \2\
                                                         -----------------------------------------------------------------------------------
                                                                          Average    Total setup/                    Average       Total        Total
                       Disclosures                                       burden per   monitoring     Number of      burden per  transaction     Burden
                                                           Respondents   respondent     burden      transactions   transaction     burden      (hours)
                                                                          (hours)      (hours)                      (minutes)     (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Initial terms...........................................        27,300           .5       13,650          273,000          .02           91       13,741
Change in terms.........................................         8,550           .5        4,275       11,286,000          .02        3,762        8,037
Periodic statements.....................................        27,300           .5       13,650      327,600,000          .02      109,200      122,850
Error resolution........................................        27,300           .5       13,650          273,000            5       22,750       36,400
Transaction receipts....................................        27,300           .5       13,650    1,375,000,000          .02      458,333      471,983
Preauthorized transfers \2\.............................       258,553           .5      129,277        6,463,825          .25       26,933      156,210
Service provider notices................................        20,000          .25        5,000          200,000          .25          833        5,833
ATM notices.............................................           125          .25           31       25,000,000          .25      104,167      104,198
Electronic check conversion \3\.........................        48,553           .5       24,277          728,295          .02          243       24,520
Overdraft services......................................        15,000           .5        7,500        1,500,000          .02          500        8,000
Gift cards..............................................        15,000           .5        7,500      750,000,000          .02      250,000      257,500
Remittance transfers:
    Disclosures.........................................         4,800         1.25        6,000       96,000,000           .9    1,440,000    1,446,000
    Error resolution....................................         4,800         1.25        6,000      120,960,000           .9    1,814,400    1,820,400
    Agent compliance....................................         4,800         1.25        6,000       96,000,000           .9    1,440,000    1,446,000
Prepaid accounts and gov't benefits: \4\
    Disclosures.........................................           550  \5\ 40 x 10      220,000    2,750,000,000          .02      916,667    1,136,667
    Disclosures--updates................................           138       1 x 10    \6\ 1,380              N/A  ...........  ...........        1,380
    Access to account information.......................           550  \7\ 20 x 10      110,000        1,100,000          .01          183      110,183
    Error resolution....................................           300        4 x 4        4,800          275,000            2        9,167       13,967
    Error resolution--followup \8\......................  ............          N/A  ...........            1,380           30          690          690
    Submission of agreements............................           138        2 x 1          276              690            1           12          288
    Updates to agreements \9\...........................  ............          N/A  ...........              690            5           58           58
                                                         -----------------------------------------------------------------------------------------------
        Total...........................................  ............  ...........  ...........  ...............  ...........  ...........    7,184,905
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ Except as noted below, most respondent tallies in this table have decreased due to business shifts and other market changes that result in fewer
  entities under FTC jurisdiction. Accordingly, related transactions under FTC jurisdiction have also decreased.
\2\ Preauthorized transfers rules apply to ``persons'' and entities. The number of respondents and transactions by such persons have increased, as these
  preauthorized transfers are used more commonly than previously.
\3\ The total number of electronic check conversion respondents and transactions has decreased, particularly due to declining check usage.
\4\ Prepaid accounts are now covered by Regulation E (and payroll cards are included in this area). Government benefit notices are included also in this
  area, although some separate requirements for government benefits remain; these factors are accounted for in the estimates. The number of government
  benefit entities also have declined given business shifts that have reduced the number of entities under FTC jurisdiction (and prepaid entities under
  FTC jurisdiction are also few in number).
\5\ Burden hours are on a per program basis. Individual burden hours are listed first, followed by the number of programs.
\6\ This reflects prepaid accounts' updates of additional fee type disclosures. Individual burden hours are listed first, followed by the number of
  programs.
\7\ Burden hours are on a per program basis; individual burden hours are listed first, followed by the number of programs.
\8\ This pertains to prepaid accounts.
\9\ This pertains to prepaid accounts' agreements.


[[Page 35481]]


                                                    Regulation B--Recordkeeping and Disclosures--Cost
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                               Managerial             Skilled technical             Clerical
                                                       ------------------------------------------------------------------------------
                     Required task                          Time      Cost ($56/      Time      Cost ($42/      Time      Cost ($17/    Total cost ($)
                                                          (hours)        hr.)       (hours)        hr.)       (hours)        hr.)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Recordkeeping.........................................            0           $0       25,105   $1,054,410      225,948   $3,841,116          $4,895,526
Disclosures:
    Initial terms.....................................        1,374       76,944       12,367      519,414            0            0             596,358
    Change in terms...................................          804       45,024        7,233      303,786            0            0             348,810
    Periodic statements...............................       12,285      687,960      110,565    4,643,730            0            0           5,331,690
    Error resolution..................................        3,640      203,840       32,760    1,375,920            0            0           1,579,760
    Transaction receipts..............................       47,198    2,643,088      424,785   17.840.970            0            0          20,484,058
    Preauthorized transfers...........................       15,621      874,776      140,589    5,904,738            0            0           6,779,514
    Service provider notices..........................          583       32,648        5,250      220,500            0            0             253,148
    ATM notices.......................................       10,420      583,520       93,778    3,938,676            0            0           4,522,196
    Electronic check conversion.......................        2,452      137,312       22,068      926,856            0            0           1,064,168
    Overdraft services................................          800       44,800        7,200      302,400            0            0             347,200
    Gift cards........................................       25,750    1,442,000      231,750    9,733,500            0            0          11,175,500
Remittance transfers:
    Disclosures.......................................      144,600    8,097,600    1,301,400   54,658,800            0            0          62,756,400
    Error resolution..................................      182,040   10,194,240    1,638,360   68,811,120            0            0          79,005,360
    Agent compliance..................................      144,600    8,097,600    1,301,400   54,658,800            0            0          62,756,400
Prepaid accounts and gov't. benefits:
    Disclosures.......................................      113,667    6,365,352    1,023,000   42,966,000            0            0          49,331,352
    Disclosures--updates..............................          138        7,728        1,242       52,164            0            0              59,892
    Access to account information.....................       11,018      617,008       99,165    4,164,930            0            0           4,781,938
    Error resolution..................................        1,397       78,232       12,570      527,940            0            0             606,172
    Error resolution--followup........................           69        3,864          621       26,082            0            0              29,946
    Submission of agreements..........................           29        1,624          259       10,878            0            0              12,502
    Updates to agreements.............................            6          336           52        2,184            0            0               2,520
                                                       -------------------------------------------------------------------------------------------------
        Total Disclosures.............................  ...........  ...........  ...........  ...........  ...........  ...........         311,824,884
                                                       -------------------------------------------------------------------------------------------------
            Total Recordkeeping and Disclosures.......  ...........  ...........  ...........  ...........  ...........  ...........         316,720,410
--------------------------------------------------------------------------------------------------------------------------------------------------------

3. Regulation M

    The CLA requires that covered entities provide consumers with 
accurate disclosure of the costs and terms of leases. Regulation M 
implements the CLA, establishing disclosure requirements to help 
consumers comparison shop and understand the terms of leases and 
recordkeeping requirements. It applies to vehicle lessors (such as auto 
dealers, independent leasing companies, and manufacturers' captive 
finance companies), computer lessors (such as computer dealers and 
other retailers), furniture lessors, various electronic commerce 
lessors, diverse types of lease advertisers, and others.
    Staff estimates that Regulation M's recordkeeping requirements 
affect approximately 30,203 firms within the FTC's jurisdiction leasing 
products to consumers at an average annual burden of one hour per firm, 
for a total of 30,203 hours.

Burden Totals <SUP>18</SUP>
---------------------------------------------------------------------------

    \18\ Recordkeeping and disclosure burden estimates for 
Regulation M are more substantial for motor vehicle leases than for 
other leases, including burden estimates based on market changes and 
regulatory definitions of coverage. Based on industry information, 
the estimates for recordkeeping and disclosure costs assume the 
following: 90% managerial, and 10% skilled technical. As noted 
above, for purposes of PRA burden calculations for Regulations B, E, 
M, and Z, and given the different types of motor vehicle dealers, 
the FTC is including in its estimates burden for all of them.
---------------------------------------------------------------------------

Recordkeeping: 30,203 hours (3,513 + 26,690 carve-out); $1,649,088 
($191,814 + $1,457,274 carve-out), associated labor costs
Disclosures: 71,750 hours (2,094 + 69,656 carve-out); $3,917,550 
($114,394 + $3,803,156 carve-out), associated labor costs

                                                         Regulation M--Disclosures--Burden Hours
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                        Setup/monitoring                       Transaction-related
                                                            --------------------------------------------------------------------------------
                                                                                        Total setup/                                            Total
                        Disclosures                                          Average                                 Average       Total        burden
                                                              Respondents   burden per   monitoring    Number of    burden per  transaction    (hours)
                                                                            respondent     burden    transactions  transaction     burden
                                                                             (hours)      (hours)                    (minutes)    (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Motor Vehicle Leases \1\...................................        26,690            1       26,690     4,000,000          .50       33,333       60,023
Other Leases \2\...........................................         3,513          .50        1,757        60,000          .25          250        2,007
Advertising \3\............................................        14,615          .50        7,308       578,960          .25        2,412        9,720
                                                            --------------------------------------------------------------------------------------------
    Total..................................................  ............  ...........  ...........  ............  ...........  ...........       71,750
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ This category focuses on consumer vehicle leases. Vehicle leases are subject to more lease disclosure requirements (pertaining to computation of
  payment obligations) than other lease transactions. (Only consumer leases for more than four months are covered.) See 15 U.S.C. 1667(1); 12 CFR
  1013.2(e)(1). While the number of respondents for vehicle leases has decreased with market changes, the number of vehicle lease transactions has
  remained about the same, compared to past FTC estimates. Leases up to $55,800 plus an annual adjustment are now covered. The resulting total burden
  has decreased.
\2\ This category focuses on all types of consumer leases other than vehicle leases. It includes leases for computers, other electronics, small
  appliances, furniture, and other transactions. (Only consumer leases for more than four months are covered.) See 15 U.S.C. 1667(1); 12 CFR
  1013.2(e)(1). The number of respondents has decreased, based on market changes in companies and types of transactions they offer; the number of such
  transactions has also declined, based on types of transactions offered that are covered by the CLA. Leases up to $55,800 plus an annual adjustment are
  now covered. The resulting total burden has decreased.
\3\ Respondents for advertising have decreased as have lease advertisements, based on market changes, from past FTC estimates. The resulting total
  burden has decreased.


[[Page 35482]]


                                                    Regulation M--Recordkeeping and Disclosures--Cost
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                     Managerial             Skilled technical             Clerical
                                                             ------------------------------------------------------------------------------  Total  cost
                        Required task                             Time     Cost  ($56/      Time     Cost  ($42/      Time     Cost  ($17/       ($)
                                                                (hours)        hr.)       (hours)        hr.)       (hours)        hr.)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Recordkeeping...............................................       27,183   $1,522,248        3,020     $126,840            0            0    $1,649,088
Disclosures:
    Motor Vehicle Leases....................................       54,021    3,025,176        6,002      252,084            0            0     3,277,260
    Other Leases............................................        1,806      101,136          201        8,442            0            0       109,578
    Advertising.............................................        8,748      489,888          972       40,824            0            0       530,712
                                                             -------------------------------------------------------------------------------------------
        Total Disclosures...................................  ...........  ...........  ...........  ...........  ...........  ...........     3,917,550
                                                             -------------------------------------------------------------------------------------------
            Total Recordkeeping and Disclosures.............  ...........  ...........  ...........  ...........  ...........  ...........     5,566,638
--------------------------------------------------------------------------------------------------------------------------------------------------------

4. Regulation Z

    The TILA was enacted to foster comparison credit shopping and 
informed credit decision making by requiring creditors and others to 
provide accurate disclosures regarding the costs and terms of credit to 
consumers.\19\ Regulation Z implements the TILA, establishing 
disclosure requirements to assist consumers and recordkeeping 
requirements to assist agencies with enforcement. These requirements 
pertain to open-end and closed-end credit and apply to various types of 
entities, including mortgage companies; finance companies; auto 
dealerships; private education loan companies; merchants who extend 
credit for goods or services; credit advertisers; acquirers of 
mortgages; and others. Additional requirements also exist in the 
mortgage area, including for high cost mortgages, higher-priced 
mortgage loans,\20\ ability to pay of mortgage consumers, mortgage 
servicing, loan originators, and certain integrated mortgage 
disclosures.
---------------------------------------------------------------------------

    \19\ On May 24, 2018, President Trump signed the Economic 
Growth, Regulatory Relief, and Consumer Protection Act (Act), Public 
Law 115-174. Among other things, the Act amends the TILA in several 
respects, and will be implemented by the BCFP through amendments to 
Regulation Z. The Commission will address PRA burden for its 
enforcement of the requirements after the BCFP has issued the 
associated final rules.
    \20\ While Regulation Z also requires the creditor to provide a 
short written disclosure regarding the appraisal process for higher-
priced mortgage loans, the disclosure is provided by the BCFP. As a 
result, it is not a ``collection of information'' for PRA purposes 
(see 5 CFR 1320.3(c)(2)). It is thus excluded from the burden 
estimates below.
---------------------------------------------------------------------------

    FTC staff estimates that Regulation Z's recordkeeping requirements 
affect approximately 430,762 entities subject to the Commission's 
jurisdiction, at an average annual burden of 1.25 hours per entity with 
.25 additional hours per entity for 3,650 entities (ability to pay), 
and 5 additional hours per entity for 4,500 entities (loan 
originators).

Burden Totals

Recordkeeping: 561,866 hours (484,961 + 76,905 carve-out); $10,956,397 
($9,456,749 + $1,499,648 carve-out), associated labor costs
Disclosures: 7,854,575 hours (6,838,256 + 1,016,319 carve-out; 
$318,601,732 ($274,493,500 + $44,108,232 carve-out), associated labor 
costs

                                                         Regulation Z--Disclosures--Burden Hours
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                        Setup/monitoring                       Transaction-related
                                                            --------------------------------------------------------------------------------
                                                                                        Total setup/                                            Total
                      Disclosures \1\                                        Average                                 Average       Total        burden
                                                              Respondents   burden per   monitoring    Number of    burden per  transaction    (hours)
                                                                            respondent     burden    transactions  transaction     burden
                                                                             (hours)      (hours)                    (minutes)    (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Open-end credit:
    Initial terms..........................................        23,650          .75       17,738    10,500,600         .375       65,629       83,367
    Initial terms--prepaid accounts........................             3    \2\ 4 x 1           12       \3\ 3 x         .125          492          504
                                                                                                           78,667
    Rescission notices.....................................           750           .5          375         3,750          .25           16          391
    Subsequent disclosures.................................         4,650          .75        3,488    23,250,000         .188       72,850       76,338
    Subsequent disclosures--prepaid accounts...............             3    \4\ 4 x 1           12       \5\ 3 x        .0625          246          258
                                                                                                           78,667
    Periodic statements....................................        23,650          .75       17,738   788,325,450        .0938    1,232,415    1,250,153
    Periodic statements--prepaid accounts..................             3   \6\ 40 x 1          120       \7\ 3 x       .03125        1,475        1,595
                                                                                                          944,000
    Error resolution.......................................        23,650          .75       17,738     2,104,850            6      210,485      228,223
    Error resolution--prepaid accounts followup............             3    \8\ 4 x 1           12       \9\ 3 x           15      885 897
                                                                                                            1,180
    Credit and charge card accounts........................        10,250          .75        7,688     5,125,000         .375       32,031       39,719
    Credit and charge card accounts--prepaid accounts......             3   \10\ 4 x 1           12   \11\ 3 x 12          240          144          156
    Settlement of estate debts.............................        23,650          .75       17,738       496,650         .375        3,104       20,842
    Special credit card requirements.......................        10,250          .75        7,688     5,125,000         .375       32,031       39,719
    Home equity lines of credit............................           750           .5          375         5,250          .25           22          397
    Home equity lines of credit high-cost mortgages........           250            2          500         1,500            2           50          550
    College student credit card marketing--ed. institutions         1,350           .5          675        81,000          .25          338        1,013
    College student credit card marketing--card issuer                150          .75          113         4,500          .75           56          169
     reports...............................................
    Posting and reporting of credit card agreements........        10,250          .75        7,688     5,125,000         .375       32,031       39,719
    Posting and reporting of prepaid account agreements....             3   \12\ .75 x            2    \13\ 3 x 5          2.5            1            3
                                                                                     1
    Advertising............................................        38,650          .75       28,988       115,950          .75        1,449       30,437
    Advertising--prepaid accounts..........................             3  \14\ 20 x 1           60           N/A  ...........  ...........           60
    Advertising--prepaid accounts Updates..................             3   \15\ 0.2 x            3           N/A  ...........  ...........            3
                                                                                     5
    Sale, transfer, or assignment of mortgages.............           500           .5          250       500,000          .25        2,083        2,333
    Appraiser misconduct reporting.........................       301,150          .75      225,863     6,023,000         .375       37,644      263,507
    Mortgage servicing \16\................................         1,500          .75        1,125       150,000           .5        1,250        2,375

[[Page 35483]]

 
    Loan originators.......................................         2,250            2        4,500        22,500            5        1,875        6,375
Closed-end credit:
    Credit disclosures.....................................       280,762          .75      210,572   112,304,800         2.25    4,211,430    4,422,002
    Rescission notices.....................................         3,650           .5        1,825     5,475,000            1       91,250       93,075
    Redisclosures..........................................       101,150           .5       50,575       505,750         2.25       18,966       69,541
    Integrated mortgage disclosures........................         3,650           10       36,500    10,950,000          3.5      638,750      675,250
    Variable rate mortgages................................         3,650            1        3,650       365,000         1.75       10,646       14,296
    High cost mortgages....................................         1,750            1        1,750        43,750            2        1,458        3,208
    Higher priced mortgages................................         1,750            1        1,750        14,000            2          467        2,217
    Reverse mortgages......................................         3,025           .5        1,513        15,125            1          252        1,765
    Advertising............................................       205,762           .5      102,881     2,057,620            1       34,294      137,175
    Private education loans................................            75           .5           38        30,000          1.5          750          788
    Sale, transfer, or assignment of mortgages.............        48,850           .5       24,425     2,442,500          .25       10,177       34,602
    Ability to pay/qualified mortgage......................         3,650          .75        2,738             0            0            0        2,738
    Appraiser misconduct reporting.........................       301,150          .75      225,863     6,023,000         .375       37,644      263,507
    Mortgage servicing \17\................................         3,650          1.5        5,475       730,000         2.75       33,458       38,933
    Loan originators.......................................         2,250            2        4,500        22,500            5        1,875        6,375
        Total open-end credit..............................  ............  ...........  ...........  ............  ...........  ...........    2,089,103
                                                            --------------------------------------------------------------------------------------------
        Total closed-end credit............................  ............  ...........  ...........  ............  ...........  ...........    5,765,472
                                                            --------------------------------------------------------------------------------------------
            Total credit...................................  ............  ...........  ...........  ............  ...........  ...........    7,854,575
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ Regulation Z requires disclosures for closed-end and open-end credit. TILA and Regulation Z now cover credit up to $55,800 plus an annual adjustment
  (except that real estate credit and private education loans are covered regardless of amount). For most disclosure types listed in this table, FTC
  staff has reduced prior PRA burden estimates due to business shifts and other market changes. In the case of mortgage servicing (open- and closed-
  credit), however, staff has increased burden estimates per respondent due to amendments to Regulation Z. In addition, due to Regulation Z's new
  requirements for prepaid accounts with certain credit aspects, staff has added burden estimates for these items. However, the overall effect of these
  competing factors yields a net decrease from the FTC's prior reported estimate for open-end credit and for closed-end credit.
\2\ Burden hours are on a per program basis. Individual burden hours are listed first, followed by the number of programs.
\3\ This figure lists the number of entities followed by the number of responses or programs each.
\4\ Burden hours are on a per program basis. Individual burden hours are listed first, followed by the number of programs.
\5\ This figure lists the number of entities followed by the number of responses or programs each.
\6\ Burden hours are on a per program basis. Individual burden hours are listed first, followed by the number of programs.
\7\ This figure lists the number of entities followed by the number of responses or programs each.
\8\ Burden hours are on a per program basis. Individual burden hours are listed first, followed by the number of programs.
\9\ This figure lists the number of entities followed by the number of responses or programs each.
\10\ Burden hours are on a per program basis. Individual burden hours are listed first, followed by the number of programs.
\11\ This figure lists the number of entities followed by the number of responses or programs each.
\12\ Burden hours are on a per program basis. Individual burden hours are listed first, followed by the number of programs.
\13\ This figure lists the number of entities followed by the number of responses or programs each.
\14\ Burden hours are on a per program basis. Individual burden hours are listed first, followed by the number of programs.
\15\ Burden hours are on a per program basis. Individual burden hours are listed first, followed by the number of programs.
\16\ Regulation Z has expanded various mortgage servicing requirements for successors-in-interest, which in some instances can affect open-end credit,
  increasing burden per respondent. However, the estimated number of entities and transactions under FTC jurisdiction is reduced, thereby reducing
  aggregate estimated burden compared to prior FTC estimates.
\17\ Regulation Z has expanded various mortgage servicing requirements for successors-in-interest, and periodic statement requirements including for
  consumers in bankruptcy, among other things, affecting closed-end credit, increasing burden per respondent. However, the estimated number of entities
  and transactions under FTC jurisdiction is reduced, thereby reducing aggregate estimated burden compared to prior FTC estimates.


                                                    Regulation Z--Recordkeeping and Disclosures--Cost
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                      Managerial             Skilled technical             Clerical
                                                              ------------------------------------------------------------------------------ Total  Cost
                        Required task                              Time     Cost  ($56/      Time     Cost  ($42/      Time     Cost  ($17/       ($)
                                                                 (hours)        hr.)       (hours)        hr.)       (hours)        hr.)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Recordkeeping................................................            0           $0       56,187   $2,359,854      505,679   $8,596,543  $10,956,397
Open-end credit Disclosures:
    Initial terms............................................        8,337      466,872       75,030    3,151,260            0            0    3,618,132
    Initial terms--prepaid accounts..........................           50        2,800          454       19,068            0            0       21,868
    Rescission notices.......................................           39        2,184          352       14,784            0            0       16,968
    Subsequent disclosures...................................        7,634      427,504       68,704    2,885,568            0            0    3,313,072
    Subsequent disclosures--prepaid accounts.................           26        1.456          232        9,744            0            0       11,200
    Periodic statements......................................      125,015    7,000,840    1,125,138   47,255,796            0            0   54,256,636
    Periodic statements--prepaid accounts....................          159        8,904         1436       60,312            0            0       69.216
    Error resolution.........................................       22,822    1,278,032      205,401    8,626,842            0            0    9,904,874
    Error resolution--prepaid accounts followup..............           90        5,040          807       33.894            0            0       38,934
    Credit and charge card accounts..........................        3,972      222,432       35,747    1,501,374            0            0    1,723,806
    Credit and charge card accounts--prepaid accounts........           16          896          140        5,880            0            0        6,776
    Settlement of estate debts...............................        2,084      116,704       18,758      787,836            0            0      904,540
    Special credit card requirements.........................        3,972      222,432       35,747    1,501,374            0            0    1,723,806
    Home equity lines of credit..............................           40        2,240          357       14,994            0            0       17,234
    Home equity lines of credit--high cost mortgages.........           55        3,080          495       20,790            0            0       23,870
    College student credit card marketing--ed institutions...          101        5,656          912       38,304            0            0       43,960
    College student credit card marketing--card issuer                  17          952          152        6,384            0            0        7,336
     reports.................................................
    Posting and reporting of credit card agreements..........        3,972      222,432       35,747    1,501,374            0            0    1,723,806
    Posting and reporting of prepaid accounts................            1           56            2           84            0            0          140
    Advertising..............................................        3,044      170,464       27,393    1,150,506            0            0    1,320,970

[[Page 35484]]

 
    Advertising--prepaid accounts............................            6          336           54        2,268            0            0        2,604
    Advertising--prepaid accounts Updates....................            1           56            2           84            0            0          140
    Sale, transfer, or assignment of mortgages...............          233       13,048        2,100       88,200            0            0      101,248
    Appraiser misconduct reporting...........................       26,351    1,475,656      237,156    9,960,552            0            0   11,436,208
    Mortgage servicing.......................................          238       13,328        2,137       89,754            0            0      103,082
    Loan originators.........................................          638       35,728        5,737      240,954            0            0      276,682
                                                              ------------------------------------------------------------------------------------------
        Total open-end credit................................  ...........  ...........  ...........  ...........  ...........  ...........   90,667,108
Closed-end credit Disclosures:
    Credit disclosures.......................................      442,200    2,476,300    3,979,802  167,151,684            0            0  169,627,984
    Rescission notices.......................................        9,308      521,248       83,767    3,518,214            0            0    4,039,462
    Redisclosures............................................        6,954      389,424       62,587    2,628,654            0            0    3,018,078
    Integrated mortgage disclosures..........................       67,525    3,781,400      607,725   25,524,450            0            0   29,305,850
    Variable rate mortgages..................................        1,430       80,080       12,866      540,372            0            0      620,452
    High cost mortgages......................................          321       17,976        2,887      121,254            0            0      139,230
    Higher priced mortgages..................................          222       12,432        1,995       83,790            0            0       96,222
    Reverse mortgages........................................          177        9,912        1,588       66,696            0            0       76,608
    Advertising..............................................       13,718      768,208      123,457    5,185,194            0            0    5,953,402
    Private education loans..................................           79        4,424          709       29,778            0            0       34,202
    Sale, transfer, or assignment of mortgages...............        3,460      193,760       31,142    1,307,964            0            0    1,501,724
    Ability to pay/qualified mortgage........................          274       15,344        2,464      103,488            0            0      118,832
    Appraiser misconduct reporting...........................       26,351    1,475,656      237,156    9,960,552            0            0   11,436,208
    Mortgage servicing.......................................        3,893      218,008       35,040    1,471,680            0            0    1,689,688
    Loan originators.........................................          638       35,728        5,737      240,954            0            0      276,682
                                                              ------------------------------------------------------------------------------------------
        Total closed-end credit..............................  ...........  ...........  ...........  ...........  ...........  ...........  227,934,624
                                                              ------------------------------------------------------------------------------------------
        Total Disclosures....................................  ...........  ...........  ...........  ...........  ...........  ...........  318,601,732
                                                              ------------------------------------------------------------------------------------------
        Total Recordkeeping and Disclosures..................  329,558,129
--------------------------------------------------------------------------------------------------------------------------------------------------------

    Request for Comment: You can file a comment online or on paper. For 
the FTC to consider your comment, we must receive it on or before 
August 27, 2018. Write ``Regs BEMZ, PRA Comments, P084812'' on your 
comment. Your comment--including your name and your state--will be 
placed on the public record of this proceeding, including, to the 
extent practicable, on the public FTC website, at http://www.ftc.gov/os/publiccomments.shtm.
    Postal mail addressed to the Commission is subject to delay due to 
heightened security screening. As a result, we encourage you to submit 
your comments online, or to send them to the Commission by courier or 
overnight service. To make sure that the Commission considers your 
online comment, you must file it at https://ftcpublic.commentworks.com/ftc/RegsBEMZpra2 by following the instructions on the web-based form. 
When this Notice appears at http://www.regulations.gov/#!home, you also 
may file a comment through that website.
    If you file your comment on paper, write ``Regs BEMZ, PRA Comments, 
P084812'' on your comment and on the envelope, and mail it to the 
following address: Federal Trade Commission, Office of the Secretary, 
600 Pennsylvania Avenue NW, Suite CC-5610 (Annex J), Washington, DC 
20580, or deliver your comment to the following address: Federal Trade 
Commission, Office of the Secretary, Constitution Center, 400 7th 
Street SW, 5th Floor, Suite 5610 (Annex J), Washington, DC 20024. If 
possible, submit your paper comment to the Commission by courier or 
overnight service.
    Because your comment will be placed on the publicly accessible FTC 
website at https://www.ftc.gov/, you are solely responsible for making 
sure that your comment does not include any sensitive or confidential 
information. In particular, your comment should not include any 
sensitive personal information, such as your or anyone else's Social 
Security number; date of birth; driver's license number or other state 
identification number, or foreign country equivalent; passport number; 
financial account number; or credit or debit card number. You are also 
solely responsible for making sure that your comment does not include 
any sensitive health information, such as medical records or other 
individually identifiable health information. In addition, your comment 
should not include any ``trade secret or any commercial or financial 
information which . . . is privileged or confidential''--as provided by 
Section 6(f) of the FTC Act, 15 U.S.C. 46(f), and FTC Rule 4.10(a)(2), 
16 CFR 4.10(a)(2)--including in particular competitively sensitive 
information such as costs, sales statistics, inventories, formulas, 
patterns, devices, manufacturing processes, or customer names.
    Comments containing material for which confidential treatment is 
requested must be filed in paper form, must be clearly labeled 
``Confidential,'' and must comply with FTC Rule 4.9(c). In particular, 
the written request for confidential treatment that accompanies the 
comment must include the factual and legal basis for the request, and 
must identify the specific portions of the comment to be withheld from 
the public record. See FTC Rule 4.9(c). Your comment will be kept 
confidential only if the General Counsel grants your request in 
accordance with the law and the public interest. Once your comment has 
been posted on the public FTC website--as legally required by FTC Rule 
4.9(b)--we cannot redact or remove your comment from the FTC website, 
unless you submit a confidentiality request that meets the requirements 
for such treatment under FTC Rule 4.9(c), and the General Counsel 
grants that request.
    The FTC Act and other laws that the Commission administers permit 
the collection of public comments to consider and use in this 
proceeding as appropriate. The Commission will consider all timely and 
responsive public comments that it receives on or before August 27, 
2018. For information on the Commission's privacy policy,

[[Page 35485]]

including routine uses permitted by the Privacy Act, see https://www.ftc.gov/site-information/privacy-policy. For supporting 
documentation and other information underlying the PRA discussion in 
this Notice, see http://www.reginfo.gov/public/jsp/PRA/praDashboard.jsp.
    Comments on the information collection requirements subject to 
review under the PRA should additionally be submitted to OMB. If sent 
by U.S. mail, they should be addressed to Office of Information and 
Regulatory Affairs, Office of Management and Budget, Attention: Desk 
Officer for the Federal Trade Commission, New Executive Office 
Building, Docket Library, Room 10102, 725 17th Street NW, Washington, 
DC 20503. Comments sent to OMB by U.S. postal mail, however, are 
subject to delays due to heightened security precautions. Thus, 
comments instead can also be sent by email to <a href="/cdn-cgi/l/email-protection#36415a5f5453445758425376595b541853594618515940"><span class="__cf_email__" data-cfemail="5c2b30353e392e3d3228391c33313e7239332c723b332a">[email protected]</span></a>.

Heather Hippsley,
Acting Principal Deputy General Counsel.
[FR Doc. 2018-15979 Filed 7-25-18; 8:45 am]
BILLING CODE 6750-01-P


</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>