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

ICR 201101-1550-001

OMB: 1550-0113

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2007-11-20
Justification for No Material/Nonsubstantive Change
2007-11-20
Supporting Statement A
2007-11-20
ICR Details
1550-0113 201101-1550-001
Historical Active 200711-1550-002
TREAS/OTS
Identity Theft Red Flags and Address Discrepancies under the Fair and Accurate Credit Transactions Act of 2003
Extension without change of a currently approved collection   No
Regular
Approved without change 03/06/2011
Retrieve Notice of Action (NOA) 01/12/2011
  Inventory as of this Action Requested Previously Approved
03/31/2014 36 Months From Approved 03/31/2011
739 0 832
11,824 0 34,112
0 0 0

The OCC, FRB, FDIC, OTS, NCUA, and FTC (Agencies) has published a joint proposed rulemaking, which implements sections 114 and 315 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act). Pub.L. No. 108-159 (2003). Section 114 amends section 615 of the Fair Credit Reporting Act (FCRA) to require the Agencies to issue joint guidelines for financial institutions and creditors for identity theft concerning their accounts holders and customers. Section 315 requires the Agencies to issue regulations providing guidance regarding reasonable policies and procedures that a user of consumer reports may

PL: Pub.L. 108 - 159 315 Name of Law: FACT Act
  
None

1550-AC04 Final or interim final rulemaking 72 FR 217 11/09/2007

  75 FR 67453 11/02/2010
75 FR 2197 01/12/2011
No

1
IC Title Form No. Form Name
Identity Theft Red Flags and Address Discrepancies under the Fair and Accurate Credit Transactions Act of 2003

  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 739 832 0 0 -93 0
Annual Time Burden (Hours) 11,824 34,112 0 0 -22,288 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
OTS is citing a reduction in the inventory due to reduction in the number of respondents. The information collection is used to identify patterns, practices, and specific forms of activity that indicate the possible existence of identity theft. The policies and procedures address the risk of identity theft and assess the validity of requests for changes of address under certain circumstances.

$0
No
No
No
No
No
Uncollected
Ekita Mitchell 202 906-6451

  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.
01/12/2011


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