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[Federal Register Volume 78, Number 147 (Wednesday, July 31, 2013)]
[Notices]
[Pages 46325-46326]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-18512]

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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No: CFPB-2013-0025]

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, ``Truth in Savings (Regulation DD) 12 
CFR 1030.''

DATES: Written comments are encouraged and must be received on or 
before August 30, 2013 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:
    Title of Collection: Truth in Savings (Regulation DD) 12 CFR Part 
1030.
    OMB Control Number: 3170-0004.
    Type of Review: Extension without change of a currently approved 
collection.
    Affected Public: Businesses or other for-profits (insured 
depository institutions with total assets of more than $10 billion and 
their depository affiliates).

[[Page 46326]]

    Estimated Number of Respondents: 142.
    Estimated Total Annual Burden Hours: 23,000.
    Abstract: The Truth in Savings Act (TISA), 12 U.S.C. 4301 et seq. 
was enacted to enhance economic stability, improve competition between 
depository institutions, and strengthen consumer ability to make 
informed decisions regarding deposit accounts by requiring uniformity 
in the disclosure of interest rates and fees. Consumers rely on the 
disclosures required by TISA and Regulation DD to facilitate informed 
decision making 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. Federal agencies and private litigants 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 TISA 
enforcement actions brought by the CFPB. Without the Regulation DD 
recordkeeping requirement, the CFPB's ability to enforce TISA would be 
significantly impaired.
    Request for Comments: The Bureau issued a 60-day Federal Register 
notice on May 14, 2013 (78 FR 28204). 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: July 26th, 2013.
Nellisha Ramdass,
Deputy Acting Chief Information Officer, Bureau of Consumer Financial 
Protection.
[FR Doc. 2013-18512 Filed 7-30-13; 8:45 am]
BILLING CODE 4810-AM-P
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