Recordkeeping and Disclosure Requirements in Connection with Regulation B (Equal Credit Opportunity)

Forms and Documents

Document Name	Status
RegB_RegE_20081223_ffr.pdf Supplementary Document	2008-12-30
RegB.200812.omb.doc Supporting Statement A	2008-12-30
RegB_RegE_20081015_ifr.pdf Supplementary Document	2008-10-17

IC Document Collections

IC ID	Document Title	Status
36225	Notifications (202.9)	Unchanged
180424	Rules concerning requests for information (202.5) (Disclosure for optional self-test)	Unchanged
180423	Self-testing record retention (Self correction) (202.15)	Unchanged
180422	Self-testing record retention (Incentives) (202.12)	Unchanged
180421	Rules on providing appraisal reports (202.14) - Notice of right to appraisal	Unchanged
180420	Rules on providing appraisal reports (202.14) (Appraisal report upon request)	Unchanged
180350	Information for monitoring purposes (202.13)	Unchanged
180349	Record retention (applications, actions, and prescreened solicitations) (Section 202.12)	Unchanged
180348	Furnishing of credit information (202.10)	Unchanged

ICR Details

OMB Control No: 7100-0201	ICR Reference No: 200810-7100-005
Status: Historical Active	Previous ICR Reference No: 200809-7100-003
Agency/Subagency: FRS	Agency Tracking No: Reg B
Title: Recordkeeping and Disclosure Requirements in Connection with Regulation B (Equal Credit Opportunity)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/02/2009
	Date Received in OIRA: 01/02/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2012	36 Months From Approved	01/31/2009
Responses	6,243,280	0	6,243,280
Time Burden (Hours)	170,000	0	170,000
Cost Burden (Dollars)	0	0	0

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Abstract: Regulation B prohibits creditors from discriminating against credit applicants on any of the bases specifically mentioned in the Equal Credit Oportunity Act, establishes guidelines for gathering and evaluating credit information and requires creditors to retain records as evidence of compliance.

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Authorizing Statute(s): US Code: 15 USC 1691 Name of Law: Equal Credit Opportunity Act
  

Citations for New Statutory Requirements: None

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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:
	73 FR 61126	10/15/2008
30-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 78799	12/23/2008
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 9

IC Title	Form No.	Form Name
Rules on providing appraisal reports (202.14) (Appraisal report upon request)
Information for monitoring purposes (202.13)
Self-testing record retention (Self correction) (202.15)
Rules on providing appraisal reports (202.14) - Notice of right to appraisal
Furnishing of credit information (202.10)
Notifications (202.9)
Rules concerning requests for information (202.5) (Disclosure for optional self-test)
Record retention (applications, actions, and prescreened solicitations) (Section 202.12)
Self-testing record retention (Incentives) (202.12)

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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	6,243,280	6,243,280	0	0	0	0
Annual Time Burden (Hours)	170,000	170,000	0	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:

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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: 01/02/2009

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