24182 Federal Register / Vol. 77, No. 78 / Monday, April 23, 2012 / Notices 

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. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Businesses or other 

for profits. 

Estimated Number of Responses: 

1,300,000. 

Estimated Time per Response: 3 

hours. 

Estimated Total Annual Burden 

Hours: 3,900,000. 

Dated: April 6, 2012. 

Chris Willey, 

Chief Information Officer, Bureau of 

Consumer Financial Protection. 

[FR Doc. 2012–9643 Filed 4–20–12; 8:45 am] 

BILLING CODE 4810–AM–P 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

Submission for OMB Review; 

Comment Request 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Bureau of Consumer 

Financial Protection (Bureau), as part of 

its continuing effort to reduce 

paperwork and respondent burden, 

invites the general public and other 

Federal agencies to take this 

opportunity to comment on proposed 

and/or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 (44 U.S.C. 

3507(a)(1)(D)). The Bureau is soliciting 

comments regarding the information 

collection requirements relating to the 

Consumer Leasing Act (CLA) 

enforcement actions that have been 

submitted to the Office of Management 

and Budget for review and approval. A 

copy of the submission may be obtained 

by contacting the agency contact listed 

below. 

DATES: Written comments are 

encouraged and must be received on or 

before May 23, 2012 to be assured of 

consideration. 

ADDRESSES: You may submit comments, 

identified by OMB approval No. 3170– 

0006, by any of the following methods: 

• Agency Contact: Consumer 

Financial Protection Bureau (Attention: 

PRA Office), 1700 G Street NW., 

Washington, DC 20552: (202) 435–7741: 

CFPB_Public_PRA@cfpb.gov. 

• OMB Reviewer: Shagufta Ahmed, 

Office of Management and Budget, New 

Executive Office Building, Room 10235, 

Washington, DC 20503; (202) 395–7873. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information 

should be directed to Joseph Durbala, 

(202) 435–7893, at the Consumer 

Financial Protection Bureau, (Attention: 

Joseph Durbala, PRA Office) 1700 G 

Street NW., Washington, DC 20552, or 

through the internet at CFPB_Public_

PRA@cfpb.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Consumer Leasing Act 

(Regulation M) 12 CFR part 1013. 

OMB Number: 3170–0006. 

Abstract: 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. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Businesses or other 

for profits. 

Estimated Number of Responses: 

67,858. 

Estimated Time per Response: 1 hour 

28 minutes. 

Estimated Total Annual Burden 

Hours: 100,058. 

Dated: April 6, 2012. 

Chris Willey, 

Chief Information Officer, Bureau of 

Consumer Financial Protection. 

[FR Doc. 2012–9641 Filed 4–20–12; 8:45 am] 

BILLING CODE 4810–AM–P 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

Submission for OMB Review; 

Comment Request 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Bureau of Consumer 

Financial Protection (Bureau), as part of 

its continuing effort to reduce 

paperwork and respondent burden, 

invites the general public and other 

Federal agencies to take this 

opportunity to comment on proposed 

and/or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 (44 U.S.C. 

3507(c)(2)(A)). The Bureau is soliciting 

comments regarding the information 

collection requirements relating to the 

Real Estate Settlement Procedures Act 


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