OMB.report

Federal forms, ICRs, and supporting documents

Information Collection Request

Electronic Fund Transfer Act (Regulation E) 12 CFR 1005

ICR 201208-3170-001 · OMB 3170-0014 · Historical Active

Forms and Documents
DocumentTypeStatusAvailability
Non-material change request - Remittances Final Rule.docx Justification for No Material/Nonsubstantive Change Uploaded 2012-08-03 Available
Regulation E - Amended Supporting Statement 8-3-2012.doc Supporting Statement A Uploaded 2012-08-03 Available
IC Document Collections
IC IDCollectionTypeStatusForm
203572 System and Policy Updates, Non-Depository Institutions, August Final Rule (one-time) New
200863 Maintenance and Error Resolution, Non-Depository Institutions (ongoing) Unchanged
200861 Maintenance and Error Resolution, Depository Institutions (ongoing) Unchanged
200860 System and Policy Updates, Non-Depository Institutions (one-time) Unchanged
200859 System and Policy Updates, Depository Institutions (one-time) Modified
200269 Recordkeeping Unchanged
200268 Payroll Disclosures Other-Model Form Unchanged
199892 Error Resolution Other-Model Form Unchanged
199891 Transaction Receipts Other-Model Form Unchanged
199870 Change in Terms Unchanged
ICR Details
3170-0014 201208-3170-001
Historical Active 201205-3170-001
CFPB
Electronic Fund Transfer Act (Regulation E) 12 CFR 1005
No material or nonsubstantive change to a currently approved collection   No
Regular
Approved without change 08/03/2012
Retrieve Notice of Action (NOA) 08/03/2012
  Inventory as of this Action Requested Previously Approved
03/31/2015 03/31/2015 03/31/2015
7,237,309 0 7,236,810
4,005,122 0 4,003,000
0 0 0
Federal agencies and private litigants use the records to ascertain whether accurate and complete disclosures of EFT services and other required actions (for example, error resolution and limitation of consumer liability for unauthorized transfers) have been provided. This information will provide the primary evidence of law violations in EFTA enforcement actions brought by the CFPB. Without the Regulation E recordkeeping requirement, the CFPB's ability to enforce the EFTA would be significantly impaired. Consumers rely on the disclosures required by the EFTA and Regulation E to facilitate informed EFT decision making. Without this information, consumers would be severely hindered in their ability to assess the true costs and terms of the transactions offered. Also, without the special error resolution and limitation of consumer liability provisions, consumers would be unable to detect and correct errors in their EFT transactions and fraudulent transfers. These disclosures and provisions are necessary for the CFPB and private litigants to enforce the EFTA and Regulation E.
US Code: 15 USC 1693 Name of Law: Electronic Funds Transfer Act
  
PL: Pub.L. 111 - 203 X Name of Law: Wall Street Reform and Consumer Protection Act
3170-AA15 Final or interim final rulemaking 77 FR 6194 02/07/2012
No
  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 7,237,309 7,236,810 0 499 0 0
Annual Time Burden (Hours) 4,005,122 4,003,000 0 2,122 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Changing Regulations
No
Please see explanation in attached supplemental document.
No
No
No
Yes
No
Uncollected
Stacy Kane 202 754-0135 [email protected]
  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.
08/03/2012