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[Federal Register Volume 77, Number 40 (Wednesday, February 29, 2012)]
[Notices]
[Page 12255]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-4757]

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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2012-0008]

Submission for OMB Review; Comment Request

ACTION: Notice and request for comment.

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SUMMARY: The Bureau of Consumer Financial Protection (Bureau), as part 
of its continuing effort to reduce paperwork burdens, invites the 
general public and other Federal agencies to comment on a proposed 
information collection, as required by the Paperwork Reduction Act of 
1995, Public Law 104-13. The Bureau is soliciting comments regarding 
the information collection requirements contained in 12 CFR part 1082, 
State Official Notification Rule that has 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 must be received on or before March 30, 2012 to 
be assured of consideration.

ADDRESSES: You may submit comments, identified by Docket No. CFPB-2012-
0008, to:
    CFPB Chief Information Officer: Chris Willey, Consumer Financial 
Protection Bureau, 1700 G Street NW., Washington, DC 20006; (202) 435-
7741.
    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 Ethan Levisohn, Office of Enforcement, at (202) 
435-7055.

SUPPLEMENTARY INFORMATION:
    Title: CFPB State Official Notification Rule.
    OMB Control Number: 3170-0019. The collection was formerly approved 
under Treasury Control Number 1505-0237 and has since been transferred 
to the Bureau.
    Abstract: Section 1042 of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act (the Dodd-Frank Act), Public Law 111-203, 
requires the Bureau to prescribe rules establishing procedures that 
govern the process, described in Section 1042(b) of the Dodd-Frank Act, 
by which State Officials notify the Bureau of actions undertaken 
pursuant to the authority granted in section 1042(a) to enforce Title X 
of the Dodd-Frank Act or regulations prescribed thereunder. In 
accordance with the requirements of the Dodd-Frank Act, the Bureau has 
published an Interim Final Rule establishing that notice should be 
provided at least ten calendar days before the filing of an action, 
with certain exceptions, and setting forth a limited set of information 
which is to be provided with the notice (which substantially tracks the 
statutory language). The data will be received each time a State 
Official files an action to enforce Title X of the Dodd-Frank Act or a 
regulation promulgated thereunder, as described in the Interim Final 
Rule and the preamble to the Interim Final Rule. It will be collected 
by the Bureau (through electronic mail submissions), and specifically 
by the Office of Enforcement and the Executive Secretary, who will 
share it as necessary and appropriate within the Bureau and elsewhere 
in government, pursuant to the process set out in the Interim Final 
Rule. It will also be collected by the prudential regulators (through 
postal mail or electronic mail submissions) where relevant. Unless used 
as part of a legal proceeding in which the Bureau or other government 
agency is engaged, it is not expected that the information will be 
shared with the public, unless the information is already made public 
by the State Official providing the notice.
    As discussed, the information provided in the notice will be used 
by the Bureau (and prudential regulators, where relevant) to stay 
informed about the enforcement activities of State Officials enforcing 
Title X of the Dodd-Frank Act and to decide when and how, if at all, to 
react to such activities.
    Type of Review: Renewal.
    Affected Public: State or Local Governments.
    Estimated Total Annual Burden Hours: The information sent under the 
notice provisions of the Rule is primarily information which the State 
Officials providing the notice would have already collected and have 
available at the time notice is given. It is unlikely that compiling 
and sending the requested information would require more than thirty 
minutes of additional work. As this is a new area of law, at this time, 
it would be impossible to estimate the number of actions which State 
Officials will file pursuant to Title X the Dodd-Frank Act and, 
accordingly, the number of notices which the Bureau will receive.

    Dated: February 23, 2012.
Chris Willey,
Chief Information Officer, Consumer Financial Protection Bureau.
[FR Doc. 2012-4757 Filed 2-28-12; 8:45 am]
BILLING CODE 4810-AM-P
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