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

Forms and Documents

Document Name	Status
FDIC SPST-0082 Reg Z 2018 Renewal FINAL.doc Supporting Statement A	2018-02-21
FR2-0082 Regulation Z 83 FR 7179 February 20 2018.pdf Supplementary Document	2018-02-20
FR1-0082 Regulation Z 82 FR 57751 Dec 7 2017.pdf Supplementary Document	2018-02-13

IC Document Collections

IC ID	Document Title	Status
31827	Recordkeeping and Disclosure Requirements in Connection with Regulation Z (Truth in Lending)	Removed
229367	Evidence of Compliance - Record Retention	New
229366	Advertising Rules Closed-End Credit	New
229365	Advertising Rules Open-End Credit	New
229364	Final Disclosures (Private Education Loans)	New
229363	Approval Disclosures (Private Education Loans)	New
229362	Application and Solicitation Disclosures (Private Education Loans)	New
229361	HOEPA Disclosures and Notice	New
229360	Reverse Mortgage Disclosures	New
229353	Reporting Appraiser Noncompliance (All Mortgage Products)	New
229352	Notice of Sale or Transfer (All Mortgage Products)	New
229351	Payoff Statements (All Mortgage Products)	New
229350	Prepayment Penalties (Closed-End Mortgages)	New
229348	Ability to Pay Requirements (Closed-End Mortgages)	New
229347	Periodic Statements (Closed-End Mortgages)	New
229346	Escrow Cancellation Notice (Closed-End Mortgages)	New
229345	Initial Rate Adjustment Disclosure for ARM's (Closed-End Mortgages)	New
229344	ARM's Rate Adjustments with Payment Change Disclosures (Closed-End Mortgages)	New
229343	No Guaranty to Refinance Statement (Closed-End Mortgages)	New
229342	Post-Consummation Interest Rate and Payment Summary (Closed-End Mortgages)	New
229341	Record Retention of Disclosures (Closed-End Mortgages)	New
229340	Application and Consummation Closing Disclosure (Closed-End Mortgages)	New
229339	Application and Consummation Loan Estimate (Closed-End Mortgages)	New
229338	General Disclosures (Closed-End Credit)	New
229337	Error Resolution (Open-End Credit)	New
229336	Notice to Restrict Credit (HELOC's)	New
229335	Change in Terms Disclosures (HELOC's)	New
229334	Alternative Summary Statement of Billing Rights (HELOC's)	New
229333	Annual Statement of Billing Rights (HELOC's)	New
229332	Periodic Statements (HELOC's)	New
229331	Account Opening Disclosures (HELOC's)	New
229329	Application Disclosures (HELOC's)	New
229328	Individual Credit Card Agreements (Credit and Charge Cards)	New
229327	Internet Posting of Credit Card Agreements (Credit and Charge Cards)	New
229326	Submission of Credit Card Agreements (Credit and Charge Cards)	New
229325	College Student Credit Annual Report (Credit and Charge Cards)	New
229324	Ability to Pay Determination (Credit and Charge Cards)	New
229323	Timely Settlement of Estate Debts (Credit and Charge Cards)	New
229322	Change in Terms Disclosures (Open-End Credit Not Home-Secured)	New
229321	Alternative Summary Statement of Billing Rights (Open-End Credit Not Home-Secured)	New
229320	Annual Statement of Billing Rights (Open-End Credit Not Home-Secured)	New
229319	Periodic Statements (Open-End Credit Not Home-Secured)	New
229318	Account Opening Disclosures	New
229317	Credit and Charge Card Applications and Solicitations	New
229316	Valuation Independence - Implement Written Policies and Procedures (One Time)	New
229315	Ability to Pay - Implement Written Policies and Procedures (One Time)	New
229314	Timely Settlement of Estate Debts - Implement Written Policies and Procedures (One Time)	New
198816	Initial disclosures Section 226.6 One-time change (R-1399)	Removed

ICR Details

OMB Control No: 3064-0082	ICR Reference No: 201709-3064-008
Status: Active	Previous ICR Reference No: 201405-3064-003
Agency/Subagency: FDIC	Agency Tracking No:
Title: Recordkeeping, Disclosure and Reporting Requirements in Connection with Regulation Z (Truth in Lending)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/17/2018
	Date Received in OIRA: 02/21/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2021	36 Months From Approved	05/31/2018
Responses	14,642,857	0	8,796
Time Burden (Hours)	2,395,630	0	2,371,008
Cost Burden (Dollars)	0	0	0

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Abstract: Consumer Financial Protection Bureau (CFPB) Regulation Z - 12 CFR 1026 implements the Truth in Lending Act (15 U.S.C. 1601, et seq.) and certain provisions of the Real Estate Settlement Procedures Act (12 U.S.C. 2601 et seq.). This regulation prescribes uniform methods for computing the cost of credit, the disclosure of credit terms and costs, the resolution of errors and imposes various other recordkeeping, reporting and disclosure requirements. The FDIC has enforcement authority on the requirements of the CFPB’s Regulation over the financial institutions it supervises. This information collection captures the recordkeeping, reporting and disclosure burdens of Regulation Z on FDIC-supervised institutions.

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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:
	82 FR 57751	12/07/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 7179	02/20/2018
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 46

IC Title	Form No.	Form Name
Valuation Independence - Implement Written Policies and Procedures (One Time)
Recordkeeping and Disclosure Requirements in Connection with Regulation Z (Truth in Lending)
Initial disclosures Section 226.6 One-time change (R-1399)
Credit and Charge Card Applications and Solicitations
Account Opening Disclosures
Annual Statement of Billing Rights (Open-End Credit Not Home-Secured)
Alternative Summary Statement of Billing Rights (Open-End Credit Not Home-Secured)
Change in Terms Disclosures (Open-End Credit Not Home-Secured)
Timely Settlement of Estate Debts (Credit and Charge Cards)
Ability to Pay Determination (Credit and Charge Cards)
College Student Credit Annual Report (Credit and Charge Cards)
Submission of Credit Card Agreements (Credit and Charge Cards)
Internet Posting of Credit Card Agreements (Credit and Charge Cards)
Periodic Statements (Open-End Credit Not Home-Secured)
Change in Terms Disclosures (HELOC's)
Individual Credit Card Agreements (Credit and Charge Cards)
Application Disclosures (HELOC's)
Account Opening Disclosures (HELOC's)
Reporting Appraiser Noncompliance (All Mortgage Products)
Application and Solicitation Disclosures (Private Education Loans)
Evidence of Compliance - Record Retention
Escrow Cancellation Notice (Closed-End Mortgages)
Ability to Pay Requirements (Closed-End Mortgages)
Prepayment Penalties (Closed-End Mortgages)
Payoff Statements (All Mortgage Products)
Notice of Sale or Transfer (All Mortgage Products)
Periodic Statements (Closed-End Mortgages)
HOEPA Disclosures and Notice
Reverse Mortgage Disclosures
Approval Disclosures (Private Education Loans)
Final Disclosures (Private Education Loans)
Advertising Rules Open-End Credit
Advertising Rules Closed-End Credit
Timely Settlement of Estate Debts - Implement Written Policies and Procedures (One Time)
Ability to Pay - Implement Written Policies and Procedures (One Time)
Periodic Statements (HELOC's)
Annual Statement of Billing Rights (HELOC's)
Alternative Summary Statement of Billing Rights (HELOC's)
Notice to Restrict Credit (HELOC's)
Error Resolution (Open-End Credit)
General Disclosures (Closed-End Credit)
Application and Consummation Loan Estimate (Closed-End Mortgages)
Application and Consummation Closing Disclosure (Closed-End Mortgages)
Record Retention of Disclosures (Closed-End Mortgages)
Post-Consummation Interest Rate and Payment Summary (Closed-End Mortgages)
No Guaranty to Refinance Statement (Closed-End Mortgages)
ARM's Rate Adjustments with Payment Change Disclosures (Closed-End Mortgages)
Initial Rate Adjustment Disclosure for ARM's (Closed-End Mortgages)

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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	14,642,857	8,796	0	0	14,634,061	0
Annual Time Burden (Hours)	2,395,630	2,371,008	0	0	24,622	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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 02/21/2018

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