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

Forms and Documents

Document Name	Status
SPST 0082 Regulation Z 2021 Renewal.docx Supporting Statement A	2021-05-24
FR2-0082 Regulation Z 86 FR 27596 May 21 2021.pdf Supplementary Document	2021-05-24
FR1 0082 Reg Z 86 FR 11771 February 25 2021.pdf Supplementary Document	2021-05-24

IC Document Collections

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

ICR Details

OMB Control No: 3064-0082	ICR Reference No: 202102-3064-008
Status: Received in OIRA	Previous ICR Reference No: 201709-3064-008
Agency/Subagency: FDIC	Agency Tracking No:
Title: Recordkeeping, Disclosure and Reporting Requirements in Connection with Regulation Z (Truth in Lending)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 05/24/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	05/31/2021
Responses	5,022,995	14,642,857
Time Burden (Hours)	2,031,604	2,395,630
Cost Burden (Dollars)	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:
	86 FR 11771	02/25/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 27596	05/21/2021
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
ARM's Rate Adjustments with Payment Change Disclosures (Closed-End Mortgages)
Ability to Pay - Implement Written Policies and Procedures (One Time)
Ability to Pay Determination (Credit and Charge Cards)
Ability to Pay Requirements (Closed-End Mortgages)
Account Opening Disclosures
Account Opening Disclosures (HELOC's)
Advertising Rules Closed-End Credit
Advertising Rules Open-End Credit
Alternative Summary Statement of Billing Rights (HELOC's)
Alternative Summary Statement of Billing Rights (Open-End Credit Not Home-Secured)
Annual Statement of Billing Rights (HELOC's)
Annual Statement of Billing Rights (Open-End Credit Not Home-Secured)
Application Disclosures (HELOC's)
Application and Consummation Closing Disclosure (Closed-End Mortgages)
Application and Consummation Loan Estimate (Closed-End Mortgages)
Application and Solicitation Disclosures (Private Education Loans)
Approval Disclosures (Private Education Loans)
Change in Terms Disclosures (HELOC's)
Change in Terms Disclosures (Open-End Credit Not Home-Secured)
College Student Credit Annual Report (Credit and Charge Cards)
Credit and Charge Card Applications and Solicitations
Error Resolution (Open-End Credit)
Escrow Cancellation Notice (Closed-End Mortgages)
Evidence of Compliance - Record Retention
Final Disclosures (Private Education Loans)
General Disclosures (Closed-End Credit)
HOEPA Disclosures and Notice
Individual Credit Card Agreements (Credit and Charge Cards)
Initial Rate Adjustment Disclosure for ARM's (Closed-End Mortgages)
Internet Posting of Credit Card Agreements (Credit and Charge Cards)
No Guaranty to Refinance Statement (Closed-End Mortgages)
Notice of Sale or Transfer (All Mortgage Products)
Notice to Restrict Credit (HELOC's)
Payoff Statements (All Mortgage Products)
Periodic Statements (Closed-End Mortgages)
Periodic Statements (HELOC's)
Periodic Statements (Open-End Credit Not Home-Secured)
Post-Consummation Interest Rate and Payment Summary (Closed-End Mortgages)
Prepayment Penalties (Closed-End Mortgages)
Record Retention of Disclosures (Closed-End Mortgages)
Reporting Appraiser Noncompliance (All Mortgage Products)
Reverse Mortgage Disclosures
Submission of Credit Card Agreements (Credit and Charge Cards)
Timely Settlement of Estate Debts (Credit and Charge Cards)
Timely Settlement of Estate Debts - Implement Written Policies and Procedures (One Time)
Valuation Independence - Implement Written Policies and Procedures (One Time)

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ICR Summary of Burden

	Total Request	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	5,022,995	14,642,857	0	0	-9,619,862	0
Annual Time Burden (Hours)	2,031,604	2,395,630	0	0	-364,026	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? 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: 05/24/2021

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