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

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
red flags2.doc	Supporting Statement A	Uploaded 2007-09-11	Available
114 & 315.doc	Supplementary Document	Uploaded 2006-07-24	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
44234	Identity Theft Red Flags and Address Discrepancies under the FACT Act of 2003		Modified

ICR Details

OMB Control No: 1557-0237	ICR Reference No: 200711-1557-003
Status: Historical Active	Previous ICR Reference No: 200709-1557-002
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: Approved without change	Conclusion Date: 11/09/2007
	Date Received in OIRA: 11/09/2007
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2009	09/30/2009
Responses	2,100	0	0
Time Burden (Hours)	81,900	0	0
Cost Burden (Dollars)	0	0	0

---

Abstract: The OCC issued 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. 71 FR 40786 (July 18, 2006). The OCC received a Notice of Action on September 7, 2006 indicating only that a comment was filed on the proposed rule. OCC is now seeking assignment of a control number and an identical expiration date to that assigned to OTS.

---

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

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AC87	Final or interim final rulemaking	72 FR 63718	11/09/2007

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

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

table that charts list of burden

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

---

ICR Summary of Burden

table that charts list of burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	2,100	0	2,100	0	0	0
Annual Time Burden (Hours)	81,900	0	81,900	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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: The OTS received approval on September 13, 2006 and was assigned OMB Control No. 1557-0113 and an expiration date of September 30, 2009. The OCC received a Notice of Action on September 7, 2006 indicating only that a comment was filed on the proposed rule. As the OTS and OCC rules were proposed jointly and are identical, the OCC requests that a control number be assigned and an expiration date identical to OTS's be given.

---

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

---

Common Form ICR:  No

---

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: 09/11/2007

---