Survey of Information Sharing Practices with Affiliates

Forms and Documents

Document Name	Status
Survey of Information Sharing Practices with Affiliates Form and Instruction	New
FACTA 214e SS 11-07 FIN.pdf Supporting Statement A	2007-12-03

IC Document Collections

IC ID	Document Title	Status
182812	Survey of Information Sharing Practices with Affiliates Form and Instruction	New

ICR Details

OMB Control No: 3084-0141	ICR Reference No: 200711-3084-004
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: FTC	Agency Tracking No:
Title: Survey of Information Sharing Practices with Affiliates
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: 04/10/2008
	Date Received in OIRA: 12/10/2007
Terms of Clearance: Since the agencies are not employing statistical methods to generate survey results that are representative of the surveyed population, OMB considers this to be a qualitative survey. Accordingly, the report to Congress must state that the survey data are qualitative and cannot be considered representative of the population. OMB requests that the agencies share a draft of the report prior to its submission to Congress.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2011	36 Months From Approved
Responses	20	0	0
Time Burden (Hours)	200	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The Fair and Accurate Credit Transactions Act of 2003 requires the Federal Trade Commission, along with the Federal banking agencies and the National Credit Union Administration, to jointly conduct regular studies of the consumer information sharing practices by financial institutions and other persons that are creditors or users of consumer reports with their affiliates. The statute also requires the Agencies to examine the information sharing practices that financial institutions and other creditors or users of consumer reports and their affiliates employ to make underwriting decisions or credit evaluations of consumers. The Commission will send a survey questionnaire to 20 businesses to gather the necessary information for the instant study. The Agencies jointly must submit a report to the Congress on the results of the initial study together with any recommendations for legislative or regulatory action.

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Authorizing Statute(s): PL: Pub.L. 108 - 159 214(e) Name of Law: Fair and Accurate Credit Transactions Act of 2003
  

Citations for New Statutory Requirements: PL: Pub.L. 108 - 159 214(e) 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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 51888	08/31/2006
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 69729	12/10/2007
Did the Agency receive public comments on this ICR? Yes

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

IC Title	Form No.	Form Name
Survey of Information Sharing Practices with Affiliates	N/A	Survey of Information Sharing Practices with Affiliates

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ICR Summary 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	20	0	20	0	0	0
Annual Time Burden (Hours)	200	0	200	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: This is a new information collection. See Abstract above for further explanation of and reasons for the instant study and associated survey.

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Annual Cost to Federal Government: $178,000

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: 12/10/2007

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