Consumer and College Credit Card Agreements

Forms and Documents

Document	Type	Status	Availability
Notice of expiration of suspension.pdf	Supplementary Document	Uploaded 2016-04-05	Available
83-C Reinstate Consumer CC Agreements.pdf	Justification for No Material/Nonsubstantive Change	Uploaded 2016-03-30	Available
Non-Material Change Request Quarterly Credit card Submissions Suspension2.pdf	Justification for No Material/Nonsubstantive Change	Uploaded 2015-04-17	Available
3170-0052_CC_Ageements_Supporting Statment A-final.pdf	Supporting Statement A	Uploaded 2018-07-17	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
214747	CARD Act Reporting Requirements	Instruction	Modified

ICR Details

OMB Control No: 3170-0052	ICR Reference No: 201807-3170-001
Status: Active	Previous ICR Reference No: 201603-3170-005
Agency/Subagency: CFPB	Agency Tracking No:
Title: Consumer and College Credit Card Agreements
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: 10/19/2018
	Date Received in OIRA: 07/20/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2021	36 Months From Approved	10/31/2018
Responses	1,630	0	1,630
Time Burden (Hours)	430	0	158
Cost Burden (Dollars)	0	0	0

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Abstract: 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 Bureau of Consumer Financial Protection (Bureau): • 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 Bureau to provide consumers with a centralized depository for consumer and college credit card agreements and information regarding the arrangements between financial institutions and institutions of higher education

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Authorizing Statute(s): 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 .
  

Citations for New Statutory Requirements: None

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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:
	83 FR 8656	02/28/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 34555	07/20/2018
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
CARD Act Reporting Requirements

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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	1,630	1,630	0	0	0	0
Annual Time Burden (Hours)	430	158	0	0	272	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: The on-line portal that was launched in 2016 has not been used; therefore, the Bureau is adjusting the hours back to what was originally projected for respondents to email the report to the Bureau.

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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: 07/20/2018

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