Identity Theft Red Flags and Address Discrepancies under the Fair and Accurate Credit Transactions Act of 2003 (FACT Act)

Forms and Documents

Document Name	Status
114 & 315.doc Supplementary Document	2006-07-24
red flags.doc Supporting Statement A	2006-07-24

IC Document Collections

IC ID	Document Title	Status
44234	Identity Theft Red Flags and Address Discrepancies under the FACT Act of 2003	New

ICR Details

OMB Control No: 1557-0237	ICR Reference No: 200607-1557-001
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: TREAS/OCC	Agency Tracking No: 2006-01
Title: Identity Theft Red Flags and Address Discrepancies under the Fair and Accurate Credit Transactions Act of 2003 (FACT Act)
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule	Conclusion Date: 09/07/2006
	Date Received in OIRA: 07/25/2006
Terms of Clearance: As you may know, under the new procedures this new, NPRM-related info collection needs a ROCIS/PRA submission when the final rule is published. Upon that approval, a control number will be assigned.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date		36 Months From Approved
Responses	0	0	0
Time Burden (Hours)	0	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The OCC is issuing a notice of proposed rulemaking together with the FRB, FDIC, OTS, NCUA, and FTC to implement sections 114 and 315 of the FACT Act, which require that the agencies issue guidelines and regulations regarding identity theft.

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Authorizing Statute(s): PL: Pub.L. 108 - 159 114, 315 Name of Law: FACT Act
  

Citations for New Statutory Requirements: PL: Pub.L. 108 - 159 114, 315 Name of Law: Fair and Accurate Credit Transactions Act of 2003

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AC87	Proposed rulemaking	71 FR 40786	07/18/2006

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Identity Theft Red Flags and Address Discrepancies under the FACT Act of 2003

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Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 07/25/2006

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