4596 Federal Register / Vol. 87, No. 19 / Friday, January 28, 2022 / Notices 

1 12 U.S.C. 1467a(f). 

2 12 U.S.C. 1467a(b). See 12 U.S.C. 1467a(g). 

3 5 U.S.C. 552(b)(4). 

a. Whether the proposed collection of 

information is necessary for the proper 

performance of the Board’s functions, 

including whether the information has 

practical utility; 

b. The accuracy of the Board’s 

estimate of the burden of the proposed 

information collection, including the 

validity of the methodology and 

assumptions used; 

c. Ways to enhance the quality, 

utility, and clarity of the information to 

be collected; 

d. Ways to minimize the burden of 

information collection on respondents, 

including through the use of automated 

collection techniques or other forms of 

information technology; and 

e. Estimates of capital or startup costs 

and costs of operation, maintenance, 

and purchase of services to provide 

information. 

At the end of the comment period, the 

comments and recommendations 

received will be analyzed to determine 

the extent to which the Board should 

modify the proposal. 

Proposal under OMB Delegated 

Authority to Extend for Three Years, 

Without Revision, the Following 

Information Collection: 

Report title: Notice of Proposed 

Declaration of Dividend. 

Agency form number: FR 1583. 

OMB control number: 7100–0339. 

Frequency: Event-generated. 

Respondents: Savings association 

subsidiaries of savings and loan holding 

companies (SLHCs). 

Estimated number of respondents: 

180. 

Estimated average hours per response: 

0.25. 

Estimated annual burden hours: 90. 

General description of report: A 

savings association subsidiary of an 

SLHC must provide prior notice of the 

proposed declaration of a dividend by 

filing form FR 1583, whether 

electronically or by hard copy, with the 

appropriate Reserve Bank. The FR 1583 

requires information regarding the date 

of the filing and the nature and amount 

of the proposed dividend, as well as the 

names and signatures of the executive 

officer and secretary of the savings 

association that is providing the notice. 

The FR 1583 notice may include a 

schedule proposing dividends over a 

period specified by the notificant, not to 

exceed 12 months. 

Legal authorization and 

confidentiality: The FR 1583 is 

authorized by Section 10(f) of the Home 

Owners’ Loan Act (HOLA).1 Section 

10(f) of HOLA provides that every 

subsidiary savings association of an 

SLHC shall give the Board at least 30 

days’ advance notice of the proposed 

declaration by its directors of any 

dividend on its guaranty, permanent, or 

other nonwithdrawable stock. 

Additionally, Section 10(b) of HOLA 

authorizes the Board to require SLHCs 

to file ‘‘such reports as may be required 

by the Board.’’ 2 The FR 1583 is 

mandatory. 

Individual respondents may request 

that information submitted on the FR 

1583 be kept confidential on a case-bycase basis. If such a request is made, the 

Board will determine whether the 

information is entitled to confidential 

treatment. Requests filed pursuant to the 

FR 1583 may include information 

related to the SLHC’s business 

operations, such as terms and sources of 

the funding for dividends and pro forma 

balance sheets. To the extent that this 

information constitutes nonpublic 

commercial or financial information, 

which is both customarily and actually 

treated as private by the respondent, it 

may be kept confidential under 

exemption 4 of the Freedom of 

Information Act, which exempts ‘‘trade 

secrets and commercial or financial 

information obtained from a person and 

privileged or confidential.’’ 3

Board of Governors of the Federal Reserve 

System, January 24, 2022. 

Ann Misback, 

Secretary of the Board. 

[FR Doc. 2022–01714 Filed 1–27–22; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL TRADE COMMISSION 

[File No. 192 3138] 

Fashion Nova, LLC; Analysis of 

Proposed Consent Order To Aid Public 

Comment 

AGENCY: Federal Trade Commission. 

ACTION: Proposed consent agreement; 

request for comment. 

SUMMARY: The consent agreement in this 

matter settles alleged violations of 

federal law prohibiting unfair or 

deceptive acts or practices. The attached 

Analysis of Proposed Consent Order to 

Aid Public Comment describes both the 

allegations in the draft complaint and 

the terms of the consent order— 

embodied in the consent agreement— 

that would settle these allegations. 

DATES: Comments must be received on 

or before February 28, 2022. 

ADDRESSES: Interested parties may file 

comments online or on paper by 

following the instructions in the 

Request for Comment part of the 

SUPPLEMENTARY INFORMATION section 

below. Please write ‘‘Fashion Nova, 

LLC; File No. 192 3138’’ on your 

comment, and file your comment online 

at https://www.regulations.gov by 

following the instructions on the webbased 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 D), 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 D), 

Washington, DC 20024. 

FOR FURTHER INFORMATION CONTACT: 

Amber Lee (202–326–2764), Federal 

Trade Commission, Office of the 

Secretary, Constitution Center, 400 7th 

Street SW, 5th Floor, Suite 5610 (Annex 

D), Washington, DC 20024. 

SUPPLEMENTARY INFORMATION: Pursuant 

to Section 6(f) of the Federal Trade 

Commission Act, 15 U.S.C. 46(f), and 

FTC Rule 2.34, 16 CFR 2.34, notice is 

hereby given that the above-captioned 

consent agreement containing a consent 

order to cease and desist, having been 

filed with and accepted, subject to final 

approval, by the Commission, has been 

placed on the public record for a period 

of thirty (30) days. The following 

Analysis to Aid Public Comment 

describes the terms of the consent 

agreement and the allegations in the 

complaint. An electronic copy of the 

full text of the consent agreement 

package can be obtained at https://

www.ftc.gov/news-events/commissionactions. 

You can file a comment online or on 

paper. For the Commission to consider 

your comment, we must receive it on or 

before February 28, 2022. Write 

‘‘Fashion Nova, LLC; File No. 192 3138’’ 

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 https://

www.regulations.gov website. 

Due to the COVID–19 pandemic and 

the agency’s heightened security 

screening, postal mail addressed to the 

Commission will be subject to delay. We 

strongly encourage you to submit your 

comments online through the https://

www.regulations.gov website. 

If you prefer to file your comment on 

paper, write ‘‘Fashion Nova, LLC; File 

No. 192 3138’’ on your comment and on 

the envelope, and mail your comment to 

the following address: Federal Trade 


jspears on DSK121TN23PROD with NOTICES1
Federal Register / Vol. 87, No. 19 / Friday, January 28, 2022 / Notices 4597 

Commission, Office of the Secretary, 

600 Pennsylvania Avenue NW, Suite 

CC–5610 (Annex D), Washington, DC 

20580. If possible, submit your paper 

comment to the Commission by 

overnight service. 

Because your comment will be placed 

on the publicly accessible website at 

https://www.regulations.gov, you are 

solely responsible for making sure your 

comment does not include any sensitive 

or confidential information. In 

particular, your comment should not 

include 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 your 

comment does not include 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 https://

www.regulations.gov website—as legally 

required by FTC Rule 4.9(b)—we cannot 

redact or remove your comment from 

that 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. 

Visit the FTC website at http://

www.ftc.gov to read this Notice and the 

news release describing the proposed 

settlement. 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 February 28, 2022. For 

information on the Commission’s 

privacy policy, including routine uses 

permitted by the Privacy Act, see 

https://www.ftc.gov/site-information/ 

privacy-policy. 

Analysis of Proposed Consent Order To 

Aid Public Comment 

The Federal Trade Commission 

(‘‘Commission’’) has accepted, subject to 

final approval, an agreement containing 

a consent order from Fashion Nova, LLC 

(‘‘Fashion Nova’’). The proposed 

consent order (‘‘proposed order’’) has 

been placed on the public record for 

thirty days for receipt of comments from 

interested persons. Comments received 

during this period will become part of 

the public record. After thirty days, the 

Commission will again review the 

agreement and the comments received 

and will decide whether it should 

withdraw from the agreement and take 

appropriate action or make final the 

agreement’s proposed order. 

This matter involves Fashion Nova’s 

marketing of its Fashion Nova brand 

apparel. Fashion Nova primarily sold its 

apparel through its 

www.fashionnova.com website. The 

company invited customers to leave 

product reviews on its website and sent 

its customers emails soliciting product 

reviews for recent purchases. Each 

product web page on the website with 

existing reviews displayed the product’s 

average star rating and a summary graph 

showing the number of reviews with 

each star rating, followed by individual 

consumers’ reviews and ratings. 

According to the Commission’s 

proposed complaint, from late 2015 

through November 2019, Fashion Nova 

had four- and five-star reviews 

automatically posted to its website but 

did not approve for posting or publish 

lower-starred, more negative reviews. 

The proposed complaint alleges that 

Fashion Nova violated Section 5(a) of 

the FTC Act by misrepresenting that the 

product reviews on 

www.fashionnova.com accurately 

reflected the views of all purchasers 

who submitted product reviews to the 

website. The proposed order contains 

provisions designed to prevent Fashion 

Nova from engaging in similar acts and 

practices in the future and to provide 

monetary relief. 

Provision I prohibits Fashion Nova 

from misrepresenting: (1) That product 

reviews on its website accurately reflect 

the views of all purchasers who 

submitted reviews of its products; (2) 

that product reviews are unedited; (3) 

that product reviews are displayed 

regardless of the reviewer’s opinion or 

rating; or (4) how product reviews factor 

into any composite or overall rating of 

a product. 

Provision II requires Fashion Nova to 

display all product reviews for products 

currently offered for sale that are or 

were submitted to its website. The 

provision provides that Fashion Nova is 

not required to display reviews that are 

unrelated to its products and to its 

customer service, delivery, returns, or 

exchanges. The provision also provides 

that Fashion Nova is not required to 

display reviews that contain unlawful, 

profane, obscene, vulgar, or sexually 

explicit content, or content that is 

inappropriate with respect to race, 

gender, sexuality, or ethnicity, so long 

as the criteria for withholding reviews is 

applied uniformly to all reviews 

submitted. Finally, the company is not 

required to offer the opportunity to 

submit reviews for any or every product 

offered for sale on its website. 

Provision III requires Fashion Nova to 

pay the Commission $4,200,000 within 

eight days of the effective date of the 

order. Provision IV sets out additional 

requirements related to the monetary 

relief. 

Provisions V through VIII of the 

proposed order are reporting and 

compliance provisions. Provision V 

requires acknowledgement of the order 

and dissemination of the order now and 

in the future to persons with 

responsibilities relating to the subject 

matter of the order. Provision VI ensures 

notification to the FTC of changes in 

corporate status and mandates that the 

company submit an initial compliance 

report to the FTC. Provision VII requires 

the company to create and retain certain 

documents relating to its compliance 

with the order. Provision VIII mandates 

that the company make available to the 

FTC information or subsequent 

compliance reports, as requested. 

Provision IX states that the proposed 

order will remain in effect for 20 years, 

with certain exceptions. 

The purpose of this analysis is to 

facilitate public comment on the 

proposed order. It is not intended to 

constitute an official interpretation of 

the complaint or proposed order, or to 

modify in any way the proposed order’s 

terms. 

By direction of the Commission. 

April J. Tabor, 

Secretary. 

[FR Doc. 2022–01775 Filed 1–27–22; 8:45 am] 

BILLING CODE 6750–01–P 


jspears on DSK121TN23PROD with NOTICES1