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###### Bureau of Consumer Financial Protection

          - [Docket No. CFPB-2022-0032]

# AGENCY:

Bureau of Consumer Financial Protection.

# ACTION:

Notice and request for comment.

# SUMMARY:

In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau or CFPB) is requesting to extend the Office of Management and Budget's (OMB's) approval for an existing information collection titled, “Equal Credit Opportunity Act (Regulation B).”

# DATES:

Written comments are encouraged and must be received on or before July 25, 2022 to be assured of consideration.

# ADDRESSES:

                        You may submit comments, identified by the title of the information                               ( print page 31539)                            collection, OMB Control Number (see below), and docket number (see above), by any of the following methods:                    
      -  Federal eRulemaking Portal: http://www.regulations.gov.                          Follow the instructions for submitting comments.                    
      -  Email: PRA_Comments@cfpb.gov.                          Include Docket No. CFPB-2022-0032 in the subject line of the email.                    
      -  Mail/Hand Delivery/Courier:                          Comment Intake, Consumer Financial Protection Bureau (Attention: PRA Office), 1700 G Street NW, Washington, DC 20552. Please note that due to circumstances associated with the COVID-19 pandemic, the Bureau discourages the submission of comments by mail, hand delivery, or courier. Please note that comments submitted after the comment period will not be accepted. In general, all comments received will become public records, 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.regulations.gov.*                         Requests for additional information should be directed to Anthony May, PRA Officer, at (202) 435-7278, or email:                         *CFPB_PRA@cfpb.gov.*                         If you require this document in an alternative electronic format, please contact                         *CFPB_Accessibility@cfpb.gov.*                         Please do not submit comments to these email boxes.                    

# SUPPLEMENTARY INFORMATION:

*Title of Collection:*                     Equal Credit Opportunity Act (Regulation B).                

*OMB Control Number:*                     3170-0013.                

*Type of Review:*                     Extension of a currently approved information collection.                

*Affected Public:*                     Private sector: businesses or other for-profits.                

*Estimated Number of Respondents:*                     82,666,000.                

*Estimated Total Annual Burden Hours:*                     1,220,992.                

*Abstract:*                     The Equal Credit Opportunity Act (ECOA) was enacted to ensure that credit is made available to all creditworthy applicants without discrimination on the basis of sex, marital status, race, color, religion, national origin, age, or other prohibited bases under the ECOA. The ECOA allows for creditors to collect information for self-testing against these criteria, while not allowing creditors to use this information in making credit decisions of applicants. For certain mortgage applications, the ECOA requires creditors to ask for some of the prohibited information for monitoring purposes. Additionally, for certain mortgage applications, creditors are required to send a copy of any appraisal or written valuation used in the application process to the applicant in a timely fashion.                

The ECOA also prescribes creditors must inform applicants of decisions made on credit applications. Particularly where creditors make adverse actions on credit applications or existing accounts, creditors must inform consumers as to why the adverse action was taken such that credit applicants can challenge errors or learn how to become more creditworthy. Creditors must retain all application information for 25 months including notices that they sent, and any information related to adverse actions. The ECOA requires creditors who furnish applicant information to a consumer reporting agency to reflect participation of the applicant's spouse if the spouse is permitted to use or is contractually liable on the account.

*Request for Comments:*                     Comments are 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 OMB approval. All comments will become a matter of public record.                

Anthony May,

Paperwork Reduction Act Officer, Consumer Financial Protection Bureau.

[FR Doc. 2022-11142 Filed 5-23-22; 8:45 am]

BILLING CODE 4810-AM-P