Privacy of Consumer Financial Information, Regulation P, 12 CFR Part 1016

Forms and Documents

Document Name	Status
Supporting Statement for Reg P.pdf Supporting Statement A	2016-09-07
Regulation P model form and instructions.pdf Supplementary Document	2016-09-07

IC Document Collections

IC ID	Document Title	Status
32818	Privacy of Consumer Financial Information Requirements for Insurance, 12 CFR Part 716 and Requirements for Insurance, 12 CFR Part 741	Modified
223407	Exercise of Consumers' Right to Opt Out	New
223406	Opt Out Notice to Consumers	New
223405	Annual and Revised Privacy Notices to Consumers	New
223403	Initial Privacy Notice to Consumers	New

ICR Details

OMB Control No: 3133-0163	ICR Reference No: 201607-3133-001
Status: Historical Active	Previous ICR Reference No: 200308-3133-003
Agency/Subagency: NCUA	Agency Tracking No: OCP
Title: Privacy of Consumer Financial Information, Regulation P, 12 CFR Part 1016
Type of Information Collection: Reinstatement with change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/17/2017
	Date Received in OIRA: 09/13/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2020	36 Months From Approved
Responses	1,151,982	0	0
Time Burden (Hours)	386,104	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: This information collection is needed to evidence compliance with title V of the Gramm-Leach-Bliley Act.

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Authorizing Statute(s): PL: Pub.L. 106 - 102 504 Name of Law: Gramm-Leach-Bliley Act
   PL: Pub.L. 111 - 203 1093 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 1093 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:
	81 FR 43264	07/01/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 62925	09/13/2016
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 5

IC Title	Form No.	Form Name
Privacy of Consumer Financial Information Requirements for Insurance, 12 CFR Part 716 and Requirements for Insurance, 12 CFR Part 741
Initial Privacy Notice to Consumers
Annual and Revised Privacy Notices to Consumers
Exercise of Consumers' Right to Opt Out
Opt Out Notice to Consumers

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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	1,151,982	0	1,141,354	1	0	10,627
Annual Time Burden (Hours)	386,104	0	-92,111	0	0	478,215
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: Existing program restructured under Dodd-Frank. Existing burden was reset to zero and burden estimated based on requirements of the new program.

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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: 09/13/2016

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