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###### Department of the Treasury

###### Office of the Comptroller of the Currency

# AGENCY:

Office of the Comptroller of the Currency, Treasury.

# ACTION:

Notice and request for comment. 

# SUMMARY:

 The OCC, 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 a continuing information collection as required by the Paperwork Reduction Act of 1995. An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid OMB control number. The OCC is soliciting comment concerning the renewal of its information collection titled, “Procedures to Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies under Section 312 of the Fair and Accurate Credit Transactions Act of 2003.” The OCC also is giving notice that it has sent the collection to OMB for review.

# DATES:

Comments must be received by July 14, 2021.

# ADDRESSES:

 Commenters are encouraged to submit comments by email, if possible. You may submit comments by any of the following methods:
      - Email: prainfo@occ.treas.gov.
      -  Mail:  Chief Counsel's Office, Attention: Comment Processing, 1557-0238, Office of the Comptroller of the Currency, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
      -  Hand Delivery/Courier:  400 7th Street SW, Suite 3E-218, Washington, DC 20219.
      -  Fax:  (571) 465-4326.       ( print page 31580)      

*Instructions:* You must include “OCC” as the agency name and “1557-0238” in your comment. In general, the OCC will publish comments on *www.reginfo.gov* without change, including any business or personal information provided, such as name and address information, email addresses, or phone numbers. Comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not include any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure.

Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to *www.reginfo.gov/​public/​do/​PRAMain.* Find this particular information collection by selecting “Currently under 30-day Review—Open for Public Comments” or by using the search function.

You may review comments and other related materials that pertain to this information collection [1]              following the close of the 30-day comment period for this notice by the following method:
      -  Viewing Comments Electronically:  Go to  www.reginfo.gov.  Click on the “Information Collection Review” tab. Underneath the “Currently under Review” section heading, from the drop-down menu select “Department of Treasury” and then click “submit.” This information collection can be located by searching by OMB control number “1557-0238” or “Procedures to Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies under Section 312 of the Fair and Accurate Credit Transactions Act of 2003.” Upon finding the appropriate information collection, click on the related “ICR Reference Number.” On the next screen, select “View Supporting Statement and Other Documents” and then click on the link to any comment listed at the bottom of the screen.
      - For assistance in navigating www.reginfo.gov,  please contact the Regulatory Information Service Center at (202) 482-7340.

# FOR FURTHER INFORMATION CONTACT:

Shaquita Merritt, OCC Clearance Officer, (202) 649-5490, Chief Counsel's Office, Office of the Comptroller of the Currency, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.

# SUPPLEMENTARY INFORMATION:

Under the PRA (44 U.S.C. 3501-3520), Federal agencies must obtain approval from OMB for each collection of information that they conduct or sponsor. “Collection of information” is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency requests and requirements that members of the public submit reports, keep records, or provide information to a third party. The OCC asks that OMB extend its approval of this collection.

*Title:* Procedures to Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies under Section 312 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act).

*OMB Control No.:* 1557-0238.

*Type of Review:* Regular.

*Description:* Pursuant to section 312 of the FACT Act, the OCC issued guidelines for use by furnishers regarding the accuracy and integrity of the information about consumers that they furnish to consumer reporting agencies and prescribed regulations that require furnishers to establish reasonable policies and procedures for implementing the guidelines. Section 312 also required the issuance of regulations identifying the circumstances under which a furnisher must reinvestigate disputes about the accuracy of information contained in a consumer report based on a direct request from a consumer.

Twelve CFR 1022.42(a) requires furnishers to establish and implement reasonable written policies and procedures regarding the accuracy and integrity of consumer information that they provide to a consumer reporting agency (CRA).

Twelve CFR 1022.43(a) requires a furnisher to conduct a reasonable investigation of a dispute initiated directly by a consumer in specified circumstances and with specified requirements. Duties of furnishers after they receive a direct dispute notice include conducting a reasonable investigation and responding to the consumer within the time period applicable if the consumer had elected to dispute the information through the CRAs.

Twelve CFR 1022.43(f)(2) incorporates the statutory requirement that a furnisher must notify a consumer by mail or other means (if authorized by the consumer) not later than five business days after making a determination that a dispute is frivolous or irrelevant. Twelve CFR 1022.43(f)(3) incorporates the statute's content requirements for the notices.

*Affected Public:* Businesses or other for-profit.

*Estimated Number of Respondents:* 1,032 respondents.

*Estimated Total Annual Burden:* 185,603 hours.

On March 12, 2021, the OCC published a 60-day notice for this information collection, 86 FR 14178. No comments were received. Comments continue to be invited on: 

(a) Whether the collection of information is necessary for the proper performance of the functions of the OCC, including whether the information has practical utility; 

(b) The accuracy of the OCC's estimate of the burden of the collection of information; 

(c) Ways to enhance the quality, utility, and clarity of the information to be collected; 

(d) Ways to minimize the burden of the collection on respondents, including through the use of automated collection techniques or other forms of information technology; and 

(e) Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.

Theodore J. Dowd,

Deputy Chief Counsel, Office of the Comptroller of the Currency.

# Footnotes

1.     On March 12, 2021, the OCC published a 60-day notice for this information collection, 86 FR 14178.
        Back to Citation      

[FR Doc. 2021-12331 Filed 6-11-21; 8:45 am]

BILLING CODE 4810-33-P