Privacy of Consumer Financial Information

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
GLBA Final Rule Dodd-Frank SupportingStatement Final update (12-2011)(2) (3).docx	Supporting Statement A	Uploaded 2011-12-07	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
29107	Privacy of Consumer Financial Information		Modified

ICR Details

OMB Control No: 3038-0055	ICR Reference No: 201107-3038-004
Status: Historical Active	Previous ICR Reference No: 201010-3038-004
Agency/Subagency: CFTC	Agency Tracking No:
Title: Privacy of Consumer Financial Information
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 01/13/2012
Retrieve Notice of Action (NOA)	Date Received in OIRA: 08/01/2011
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2015	36 Months From Approved	01/31/2012
Responses	370,368	0	342,900
Time Burden (Hours)	7,626	0	13,245
Cost Burden (Dollars)	0	0	1,215,315

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Abstract: Passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"), broadened the Commission's regulatory authority under the Gramm-Leach-Bliley Act to cover two new entities, swap dealers and major swap participants. The Dodd-Frank Act reaffirmed the Commission's authority to require these entitites comply with the Commission's Part 160 privacy rules and provide certain privacy protections for consumer financial information.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd - Frank Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd-Frank Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AD13	Final or interim final rulemaking	76 FR 43874	07/22/2011

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 66014	10/27/2010
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 43874	07/22/2011
Did the Agency receive public comments on this ICR? Yes

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

table that charts list of burden

IC Title	Form No.	Form Name
Privacy of Consumer Financial Information

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ICR Summary of Burden

table that charts list 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	370,368	342,900	0	27,468	0	0
Annual Time Burden (Hours)	7,626	13,245	0	-5,619	0	0
Annual Cost Burden (Dollars)	0	1,215,315	0	-1,215,315	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: Changing Regulations

Short Statement: Program Change due to Changing Regulations.

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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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

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: 08/01/2011

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