Privacy of Consumer Financial Information (Regulation P) 12 CFR 1016

ICR 201401-3170-003

OMB: 3170-0010

Federal Form Document

Forms and Documents
Document
Name
Status
Justification for No Material/Nonsubstantive Change
2014-01-23
Supporting Statement A
2012-07-20
ICR Details
3170-0010 201401-3170-003
Historical Active 201204-3170-010
CFPB
Privacy of Consumer Financial Information (Regulation P) 12 CFR 1016
No material or nonsubstantive change to a currently approved collection   No
Regular
Approved without change 01/31/2014
Retrieve Notice of Action (NOA) 01/23/2014
  Inventory as of this Action Requested Previously Approved
07/31/2015 07/31/2015 07/31/2015
467,213 0 467,213
516,000 0 516,000
0 0 12,043,000

Section 502 of the Gramm-Leach-Bliley Act (GLB Act) (Pub. L. 106-102) generally prohibits a financial institution from sharing nonpublic personal information about a consumer with nonaffiliated third parties unless the institution satisfies various disclosure requirements (including provision of initial privacy notices, annual notices, notices of revisions to the institution's privacy policy, and opt-out notices) and the consumer has not elected to opt out of the information sharing. The CFPB is promulgating regulations to implement the GLB Act's notice requirements and restrictions on a financial institution's ability to disclose nonpublic personal information about consumers to nonaffiliated third parties.

PL: Pub.L. 106 - 102 502 Name of Law: Gramm-Leach-Bliley Act
  
None

3170-AA06 Final or interim final rulemaking 76 FR 79025 12/21/2011

  77 FR 2685 01/19/2012
77 FR 25438 04/30/2012
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 467,213 467,213 0 0 0 0
Annual Time Burden (Hours) 516,000 516,000 0 0 0 0
Annual Cost Burden (Dollars) 0 12,043,000 0 0 -12,043,000 0
No
No

$0
No
No
No
Yes
No
Uncollected
Lea Mosena 202 435-7152

  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.
01/23/2014


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