Privacy of Consumer Financial Information (Gramm-Leach-Bliley Act Privacy Rule)

Forms and Documents

Document Name	Status
Funeral Rule '11 SS final.pdf Supporting Statement A	2011-08-04

IC Document Collections

IC ID	Document Title	Status
32343	New entrant review of internal policies in developing GLBA-implementing instructions	Unchanged
185400	Established entity changes to privacy policies & related disclosures	Modified
185399	Established entity dissemination of annual disclosure	Unchanged
185398	Established entity review of GLBA-implementing policies & practices	Unchanged
185387	New entrant dissemination of initial disclosures	Unchanged
185386	New entrant creation of disclosure document	Modified

ICR Details

OMB Control No: 3084-0121	ICR Reference No: 201108-3084-003
Status: Historical Active	Previous ICR Reference No: 200806-3084-003
Agency/Subagency: FTC	Agency Tracking No:
Title: Privacy of Consumer Financial Information (Gramm-Leach-Bliley Act Privacy Rule)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/02/2011
	Date Received in OIRA: 08/04/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2014	36 Months From Approved	10/31/2011
Responses	156,000	0	156,000
Time Burden (Hours)	1,930,000	0	2,000,000
Cost Burden (Dollars)	0	0	0

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Abstract: The Rule implements the Gramm-Leach-Bliley Act and limits instances in which a financial institution may disclose a consumer's nonpublic personal information to a non-affiliated party, thereby ensuring that consumers have access to the privacy policies of financial institutions with which they conduct business.

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Authorizing Statute(s): US Code: 15 USC 6801 et seq. Name of Law: Gramm-Leach-Bliley 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:
	76 FR 27645	05/12/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 47185	08/04/2011
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 6

IC Title	Form No.	Form Name
New entrant creation of disclosure document
New entrant dissemination of initial disclosures
Established entity changes to privacy policies & related disclosures
New entrant review of internal policies in developing GLBA-implementing instructions
Established entity review of GLBA-implementing policies & practices
Established entity dissemination of annual disclosure

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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	156,000	156,000	0	0	0	0
Annual Time Burden (Hours)	1,930,000	2,000,000	0	0	-70,000	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: The FTC has reduced its prior burden hour estimates to account for the availability of the model privacy form and Online Form Builder, which is discussed further in the attached Supporting Statement.

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Annual Cost to Federal Government: $380,000

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]? No

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: 08/04/2011

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