This supporting statement is being
submitted pursuant to the Prepaid Accounts final rules, issued by
the CFPB on November 22, 2016, 81 FR 83934 and on February 13,
2018, 83 FR 6364. The rules require financial institutions to make
available to consumers disclosures before a consumer acquires a
prepaid account.
The increase in burden is due
to the fact that this is a new collection.
No
No
No
No
No
No
Uncollected
Jorge Aguilar 202
649-7187
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.