Recordkeeping and Disclosure Requirements Associated with Regulations B, E, M, and CC

Forms and Documents

Document	Type	Status	Availability
3133-0130_2020 Burden Table (Supporting Statement).pdf	Supplementary Document	Uploaded 2020-01-22	Available
FINAL_3133-0103_Supporting Statement_012220.docx	Supporting Statement A	Uploaded 2020-01-22	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
223379	REG CC - Availability of Funds	Other-Model Clauses, Disclosures, Notices	Modified
223377	REG E - Electronic Funds Transfer (Institutions)	Other-Model Clauses and Forms	Modified
221439	REG M - Consumer Leasing	Other-Model Forms	Modified
221438	REG B - Equal Credit Opportunity	Other-Model Forms	Modified
154734	REG E - Electronic Funds Transfer (Consumer)		Unchanged

ICR Details

OMB Control No: 3133-0103	ICR Reference No: 201911-3133-001
Status: Active	Previous ICR Reference No: 201605-3133-001
Agency/Subagency: NCUA	Agency Tracking No: OCFP
Title: Recordkeeping and Disclosure Requirements Associated with Regulations B, E, M, and CC
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: 06/04/2020
	Date Received in OIRA: 01/27/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2023	36 Months From Approved	06/30/2020
Responses	56,105,209	0	55,919,489
Time Burden (Hours)	3,239,916	0	3,245,905
Cost Burden (Dollars)	0	0	0

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Abstract: The third party disclosure and recordkeeping requirements in this collection are required by statute and regulation. The regulations prescribe certain aspects of the credit application and notification process, making certain disclosures, uniform methods for computing the costs of credit, disclosing credit terms and cost, resolving errors on certain types of credit accounts, and timing requirements and disclosures relating to the availability of deposited funds.

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Authorizing Statute(s): US Code: 15 USC 1693 Name of Law: Electronic Fund Transfer Act
   US Code: 15 USC 1667-1667f Name of Law: Consumer Leasing Act
   US Code: 12 USC 5001-5018 Name of Law: Check Clearing for the 21st Century Act
   US Code: 12 USC 4001-4010 Name of Law: Expidited Funds Availability Act
   US Code: 15 USC 1691 Name of Law: Equal Credit Opportunity Act
  

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:
	84 FR 61941	11/14/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 3430	01/21/2020
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
REG B - Equal Credit Opportunity
REG E - Electronic Funds Transfer (Consumer)
REG M - Consumer Leasing
REG CC - Availability of Funds
REG E - Electronic Funds Transfer (Institutions)

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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	56,105,209	55,919,489	0	0	185,720	0
Annual Time Burden (Hours)	3,239,916	3,245,905	0	0	-5,989	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: This is an extension of a currently approved collection. Adjustments have been made to reflect an up-to-date accounting of the number of respondents and the responses per respondent, resulting in a decrease of 5,989 burden hours; for a total of 3,239,916 burden hours requested.

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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? No

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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: 01/27/2020

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