Fair Credit Reporting Affiliate Marketing Regulations

ICR 201010-1550-006

OMB: 1550-0112

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2010-10-13
IC Document Collections
IC ID
Document
Title
Status
19984
Modified
ICR Details
1550-0112 201010-1550-006
Historical Active 200711-1550-001
TREAS/OTS
Fair Credit Reporting Affiliate Marketing Regulations
Extension without change of a currently approved collection   No
Regular
Approved without change 02/14/2011
Retrieve Notice of Action (NOA) 12/15/2010
  Inventory as of this Action Requested Previously Approved
02/28/2014 36 Months From Approved 02/28/2011
193,479 0 217,392
25,834 0 28,955
0 0 0

This collection is required by section 214 of the Fair and Accurate Credit Transaction Act of 2003 (FACT Act) and found in 12 CFR Part 571 of the OTS regulations. This rulemaking generally prohibits a person from using information received from an affiliate to make a solicitation for marketing purposes to a consumer, unless the consumer is given notice and an opportunity to opt out of the making of such solicitations.

US Code: 15 USC 1681-1681x Name of Law: Fair Credit Reporting Act
  
None

Not associated with rulemaking

  75 FR 61842 10/06/2010
75 FR 77048 12/10/2010
No

1
IC Title Form No. Form Name
Fair Credit Reporting Affiliate Marketing Regulations

  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 193,479 217,392 0 0 -23,913 0
Annual Time Burden (Hours) 25,834 28,955 0 0 -3,121 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
OTS is citing a reduction in the inventory due to a reduction in the number of respondents. Section 214 of the FACT Act, which added new section 624 to the FCRA, generally prohibits a person from using certain information received from an affiliate to make a solicitation for marketing purposes to the consumer, unless the consumer is given notice and an opportunity and simple method to opt out of making such solicitations. Section 214 also required the Agencies, the Securities and Exchange Commission, and the Federal Trade Commission, in consultation and coordination with each other, to issue regulations implementing section 214 that, to the extent possible, are consistent and comparable.

$0
No
No
No
No
No
Uncollected
Suzanne McQueen 202 906-6459

  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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
12/15/2010


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