Recordkeeping and Disclosure Requirements in Connection with Regulation Z (Truth in Lending)

Forms and Documents

Document Name	Status
SPST-0082 Reg Z (2014 Renewal 10-30-14 Final).doc Supporting Statement A	2014-10-30

IC Document Collections

IC ID	Document Title	Status
31827	Recordkeeping and Disclosure Requirements in Connection with Regulation Z (Truth in Lending)	Unchanged
198816	Initial disclosures Section 226.6 One-time change (R-1399)	Unchanged

ICR Details

OMB Control No: 3064-0082	ICR Reference No: 201405-3064-003
Status: Historical Active	Previous ICR Reference No: 201205-3064-027
Agency/Subagency: FDIC	Agency Tracking No:
Title: Recordkeeping and Disclosure Requirements in Connection with Regulation Z (Truth in Lending)
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: 02/19/2015
	Date Received in OIRA: 10/30/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2018	36 Months From Approved	02/28/2015
Responses	8,796	0	8,796
Time Burden (Hours)	2,371,008	0	2,371,008
Cost Burden (Dollars)	0	0	0

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Abstract: Regulation Z (issued by the Federal Reserve Board of Governors) ensures adequate disclosure of the costs and terms of credit to consumers in open-end credit (revolving credit accounts) and closed-end credit (such as mortgage and installment loans).

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Authorizing Statute(s): US Code: 15 USC 1607 Name of Law: Truth in Lending Act
  

Citations for New Statutory Requirements: US Code: 12 USC 5301 et seq. Name of Law: Dodd-Frank Wall Street Reform And Consumer Protection Act

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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:
	79 FR 49314	08/20/2014
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 64594	10/30/2014
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Initial disclosures Section 226.6 One-time change (R-1399)
Recordkeeping and Disclosure Requirements in Connection with Regulation Z (Truth in Lending)

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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	8,796	8,796	0	0	0	0
Annual Time Burden (Hours)	2,371,008	2,371,008	0	0	0	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:

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Annual Cost to Federal Government: $0

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: 10/30/2014

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