The FTC seeks renewed three-year clearance for the FTC's shared enforcement with the Consumer Financial Protection Bureau of the disclosure requirements in subpart N of Regulation V.
Statute at Large:
123 Stat. 1734
Name of Statute: Credit Card Accountability Responsibility and Disclosure Act of 2009
US Code:
16 USC 1681
Name of Law: Fair Credit Reporting Act
PL: Pub.L. 111 - 203 1029 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
The current estimates present increases of 27,271 hours and a $144,250 decrease in capital/non-labor cost, over the currently cleared FTC burden totals, after the halving for shared interagency enforcement. The increased burden estimate is largely attributable to an increased estimate of the projected number of requests for free annual file disclosures. The decrease in estimated non-labor/capital costs primarily owes to an erroneous unit cost input in 2012 in calculating estimated automated telephone costs. The entry had been $1.82, but $1.37 was the intended input at the time. Secondarily, the decrease in those costs is attributable to a modest decline in unit cost (from $1.37, as intended, in 2012, to $1.33 now) for the current calculation.
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.
Reg. V subpt N '15 SS fin.pdf
Instructions to consumers