Recordkeeping and Disclosure Requirements in Connection with Regulation E (Electronic Funds Transfer)

Forms and Documents

Document Name	Status
RegE_20080924_83c.pdf Justification for No Material/Nonsubstantive Change	2008-09-24

IC Document Collections

IC ID	Document Title	Status
46170	Payroll card disclosures - Error resolution (205.18)	Removed
46169	Payroll card disclosures - Periodic (205.18)	Removed
46168	Payroll card disclosures - Initial (205.18)	Removed
46162	One-time change - Disclosure at ATM (205.16(c))	Removed
46161	One-time change - Coverage (merchants & payees disclosures) (205.3(a) and 205.3(b)(2))	Removed
46160	One-time change - Initial disclosures (205.7)	Removed
46158	Error resolution (205.11)	Modified
46157	Periodic statements (205.9(b))	Modified
46155	Change-in-terms (205.8(a))	Modified
36218	Initial disclosures (205.7(b)) & (205.18(c)(1))	Modified
180817	One-time change - Transaction Disclosures (205.9)	Removed

ICR Details

OMB Control No: 7100-0200	ICR Reference No: 200809-7100-004
Status: Historical Active	Previous ICR Reference No: 200709-7100-002
Agency/Subagency: FRS	Agency Tracking No: Reg E (83-c)
Title: Recordkeeping and Disclosure Requirements in Connection with Regulation E (Electronic Funds Transfer)
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/26/2008
	Date Received in OIRA: 09/26/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2009	01/31/2009	01/31/2009
Responses	751,024	0	732,373
Time Burden (Hours)	59,902	0	74,141
Cost Burden (Dollars)	0	0	0

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Abstract: Regulation E establishes the rights, liabilities, and responsibilities of parties in electronic fund transfers (EFTs) and protects consumers using EFT systems. The information is also used to ensure adequate disclosure of basic terms, costs, and rights related to EFT services.

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Authorizing Statute(s): US Code: 15 USC 1693 Name of Law: Electronic Fund Transfer Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
7100-AD12	Final or interim final rulemaking	72 FR 63452	11/09/2007

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
One-time change - Transaction Disclosures (205.9)
Payroll card disclosures - Initial (205.18)
One-time change - Initial disclosures (205.7)
One-time change - Coverage (merchants & payees disclosures) (205.3(a) and 205.3(b)(2))
One-time change - Disclosure at ATM (205.16(c))
Initial disclosures (205.7(b)) & (205.18(c)(1))
Change-in-terms (205.8(a))
Periodic statements (205.9(b))
Error resolution (205.11)
Payroll card disclosures - Periodic (205.18)
Payroll card disclosures - Error resolution (205.18)

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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	751,024	732,373	0	-2,469	21,120	0
Annual Time Burden (Hours)	59,902	74,141	0	-19,747	5,508	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The increase in the number of respondents reflects an update to the respondent count. The decrease in burden hours reflects the removal of one-time burden estimates for docket numbers R-1270 and R-1265.

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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: 09/26/2008

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