Information Furnishers Rule

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
FACTA 312 Info Furnishers SS '13 fin_mtd.pdf	Supporting Statement A	Uploaded 2013-05-31	Available
Justification Statement for Reducing Previously Cleared FTC Burden Estimate_mtd.pdf	Justification for No Material/Nonsubstantive Change	Uploaded 2011-12-09	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
193137	Time to prepare a sec.660.4 notice of frivolous or irrelevant dispute		Modified
193136	660.4 implementation of rqmt to notify consumers that a dispute is frivolous		Removed
193135	660.4 rqmts to amend procedures to handle complaints directly from cnsumers		Removed
193134	660.3 rqmt to implement written policies to ensure accurate info, related training		Modified

ICR Details

OMB Control No: 3084-0144	ICR Reference No: 201305-3084-001
Status: Historical Active	Previous ICR Reference No: 201112-3084-012
Agency/Subagency: FTC	Agency Tracking No:
Title: Information Furnishers Rule
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/02/2013
	Date Received in OIRA: 05/31/2013
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2016	36 Months From Approved	08/31/2013
Responses	15,280	0	22,926
Time Burden (Hours)	10,607	0	61,034
Cost Burden (Dollars)	0	0	0

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Abstract: The information collection provisions for which the Federal Trade Commission seeks renewed OMB clearance implement section 312 of the Fair and Accurate Credit Transactions Act of 2003 and Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 1029 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   PL: Pub.L. 108 - 159 312 Name of Law: Fair and Accurate Credit Transactions Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 1029 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
PL: Pub.L. 108 - 159 312 Name of Law: Fair and Accurate Credit Transactions Act of 2003

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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:
	78 FR 16265	03/14/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 32651	05/31/2013
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
660.3 rqmt to implement written policies to ensure accurate info, related training
660.4 rqmts to amend procedures to handle complaints directly from cnsumers
660.4 implementation of rqmt to notify consumers that a dispute is frivolous
Time to prepare a sec.660.4 notice of frivolous or irrelevant dispute

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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	15,280	22,926	0	0	-7,646	0
Annual Time Burden (Hours)	10,607	61,034	0	0	-50,427	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 decrease from the previously cleared 61,034 burden hours to the currently estimated 10,607 hours is a dual reflection of reduced apportioned burden hours to the FTC given the CFPB's additional, shared role in this area as a result of the Dodd-Frank Act, and the added recognition of concluded one-time burdens particular to the first year of the Rule's implementation and a relatively greater weighting of burden within that first year for certain recurring obligations under the Rule.

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Annual Cost to Federal Government: $16,796

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: 05/31/2013

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