Reg E (83-i)

PAPERWORK REDUCTION ACT SUBMISSION
Please read the instructions before completing this form. For additional forms or assistance in completing this form, contact your agency’s Paperwork
Clearance Officer. Send two copies of this form, the collection instrument to be reviewed, the Supporting Statement, and any additional documentation to:
Office of Information and Regulatory Affairs, Office of Management and Budget, Docket Library, Room 10102, 725 17th Street NW Washington,
DC 20503.
1. Agency/Subagency originating request

Board of Governors of the Federal Reserve System
3. Type of information collection (check one)

2. OMB control number
a. 7100- 0200

a.

New collection

a.

b.

Revision of a currently approved collection

b.

c.

✘

c.

Extension of a currently approved collection

d.

Reinstatement, without change, of a previously approved
collection for which approval has expired

e.

Reinstatement, with change, of a previously approved collection
for which approval has expired
Existing collection in use without an OMB control number

f.

b.

None

4. Type of review requested (check one)

Emergency - Approval requested by: ___ / ____ / ____

✘

Delegated

5. Small entities
Will this information collection have a significant economic impact on a
✘ No
substantial number of small entities?
Yes
6. Requested expiration date
a.

For b-f, note Item A2 of Supporting Statement instructions

Regular submission

✘

b.

Three years from approval date
Other

Specify: ______ / _______

7. Title
Recordkeeping and Disclosure Requirements in Connection with Regulation E (Electronic Funds Transfer)
8. Agency form number(s) (if applicable)

Reg E
9. Keywords

Consumer protection, Electronic funds transfers, Federal Reserve System, Reporting and recordkeeping requirements
10. Abstract
Regulation E establishes the rights, liabilities, and responsibilities of parties in electronic fund transfers (EFTs) and protects consumers using EFT systems. The
information is also used to ensure adequate disclosure of basic terms, costs, and rights related to EFT services. The disclosures required by the EFTA and
Regulation E are triggered by certain specified events. The disclosures inform consumers about the terms of the electronic fund transfer service, activity on the
account, potential liability for unauthorized transfers, and the process for resolving errors.
11. Affected public (Mark primary with ‘‘P” and all others that apply with ‘‘X”)
a.
b.

Individuals or households

P

c.

d.

Farms

12. Obligation to respond (Mark primary with ‘‘P” and all others that apply
with ‘‘X”)
Voluntary
a.

Business or other for-profit e.

Federal Government

b.

Required to obtain or retain benefits

Not-for-profit institutions

State, Local, Tribal Government

c. P

Mandatory

f.

14. Annual reporting and recordkeeping cost burden (in thousands of dollars)

13. Annual reporting and recordkeeping hour burden

1,029
642,690

a. Number of respondents
b. Total annual responses
1. Percentage of these responses
collected electronically
c. Total annual hours requested
d. Current OMB inventory
e. Difference
f. Explanation of difference
1. Program change
2. Adjustment

0 %
62,725
62,725
0

15. Purpose of information collection (Mark primary with ‘‘P” and all others
that apply with ‘‘X”)
a.

Application for benefits

e.
f.

b.

Program evaluation

c.

General purpose statistics g.

d.

Audit

a. Total annualized capital/startup costs
b. Total annual costs (O&M)

c. Total annualized cost requested
d. Current OMB inventory
e. Difference
f. Explanation of difference
1. Program change
2. Adjustment
16. Frequency of recordkeeping or reporting (check all that apply)

Program planning or management

a.

Research

c.

✘

P Regulatory or compliance

OMB 83-I

✘

Third party disclosure

1.

On occasion 2.

Weekly

3.

Monthly

4.

Quarterly

5.

Semi-annually

6.

Annually

8.

Other (describe)

Biennially

18. Agency contact (person who can best answer questions regarding the
content of this submission)

Does this information collection employ statistical methods?
Yes

✘

Reporting

7.
17. Statistical methods

b.

Recordkeeping

No

Name:

John Schmidt

Phone:

(202) 728-5859
10/95

19. Certification for Paperwork Reduction Act Submissions
Under authority delegated by OMB to the Board of Governors of the Federal Reserve System, the
staff of this agency has certified to the Board that this collection of information complies with the
requirements of 5 CFR 1320.9.

Signature of Senior Official or designee

OMB 83-I

Date

10/95