Consumer and College Credit Card Agreements

ICR 201603-3170-005

OMB: 3170-0052

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2016-04-05
Justification for No Material/Nonsubstantive Change
2016-03-30
Justification for No Material/Nonsubstantive Change
2015-04-17
Supporting Statement A
2015-02-11
IC Document Collections
IC ID
Document
Title
Status
214747 Modified
ICR Details
3170-0052 201603-3170-005
Historical Active 201504-3170-004
CFPB TI 10303
Consumer and College Credit Card Agreements
No material or nonsubstantive change to a currently approved collection   No
Regular
Approved without change 04/05/2016
Retrieve Notice of Action (NOA) 04/05/2016
  Inventory as of this Action Requested Previously Approved
03/31/2018 03/31/2018 03/31/2018
1,630 0 30
158 0 30
0 0 0

Sections 204 and 305 of the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act) and 12 CFR §§ 226.57(d) and 226.58 require card issuers to submit to the Consumer Financial Protection Bureau (CFPB): • agreements between the issuer and a consumer under a credit card account for an open-end consumer credit plan; and • any college credit card agreements to which the issuer is a party and certain additional information regarding those agreements. The data collections enable the CFPB to provide consumers with a centralized depository for consumer and college credit card agreements. It also presents information to the public regarding the arrangements between financial institutions and institutions of higher education.

US Code: 15 USC 1632 Name of Law: Credit Card Accountability Responsibility and Disclosure .
   US Code: 15 USC 1637 Name of Law: Credit Card Accountability Responsibility and Disclosure .
  
None

Final or interim final rulemaking 80 FR 21153 04/17/2015

  79 FR 62421 10/17/2014
80 FR 8291 02/17/2015
No

1
IC Title Form No. Form Name
CARD Act Reporting Requirements

  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 1,630 30 0 1,600 0 0
Annual Time Burden (Hours) 158 30 0 128 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
In a Final Rule published April 17, 2015, in the Federal Register at 80 FR 21153 (RIN 3170-AA50), the CFPB has suspended, for one year, the requirement that respondents submit quarterly credit card agreements. On April 5, 2016, CFPB published a notice in the Federal Register (81 FR 19467) announcing the expiration of this suspension. The collection of credit agreements has also been streamlined.

No
No
No
Yes
No
Uncollected
Darrin King 202-693-4129 [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.
04/05/2016


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