Recordkeeping and Disclosure Requirements Associated with Truth in Lending (Regulation Z)

Forms and Documents

Document Name	Status
FR Z 83c-2.pdf Justification for No Material/Nonsubstantive Change	2021-03-17

IC Document Collections

IC ID	Document Title	Status
36212	Disclosure: Open-End (Not Home-Secured) Credit: Applications and solicitations (Section 1026.60)	Modified
221347	Record Retention (Section 1026.25(c)(3)) one-time	Removed
221346	Disclosure: Advertising Rules (all credit types) (Sections 026.16 and 1026.24)	Modified
221345	Disclosure: Private Education Loans: Private student loan disclosures (Section 1026.47)	Modified
221344	Disclosure: Certain Home Mortgage Types: Appraisals for higher-priced mortgage loans - Provide copy of initial and additional appraisals (Sections 1026.43(c)(1). (c)2), (d), (e), and (f))	Modified
221343	Disclosure: Certain Home Mortgage Types: Appraisals for higher-priced mortgage loans - Order and review additional appraisal (Sections 1026.43(c)(1). (c)2), (d), (e), and (f))	Modified
221342	Disclosure: Certain Home Mortgage Types: Appraisals for higher-priced mortgage loans - Order and review initial appraisal (Sections 1026.43(c)(1). (c)2), (d), (e), and (f))	Modified
221341	Recordkeeping: Certain Home Mortgage Types: HOEPA receipt of certification of counseling for high-cost mortgages (Sections 1026.34(a)(5)(i))	Modified
221340	Certain Home Mortgage Types: HOEPA receipt of certification of counseling for high-cost mortgages (Sections 1026.34(a)(5)(i)) one-time	Removed
221339	Disclosure: Certain Home Mortgage Types: HOEPA disclosures (Sections 1026.31, 1026.32,and 1026.36	Modified
221337	Certain Home Mortgage Types: HOEPA disclosures (Sections 1026.32(a)(1) and 1026.32(c)) one-time	Removed
221336	Disclosure: Certain Home Mortgage Types: Reverse mortgage disclosures (Sections 1026.31(c)(2) and 1026.33)	Modified
221335	Disclosure: Open and Closed-End Mortgage: Mortgage transfer disclosure (Section 1026.39)	Modified
221334	Disclosure: Open and Closed-End Mortgage: Prompt crediting & payoff statement (Section 1026.36(c)(3))	Modified
221333	Open and Closed-End Mortgage: Prompt crediting & payoff statement (Section 1026.36(c)(3)) one-time	Removed
221332	Closed-End Credit (Mortgage): Verification of documents for Qualified Mortgage (QM) and non-QM determination (Section 1026.43) one-time	Removed
221331	Disclosure: Closed-End Credit (Mortgage): Periodic statements (Section 1026.41)	Modified
221329	Closed-End Credit (Mortgage): Periodic statements (Section 1026.41) one-time	Removed
206185	Disclosure: Closed-End Credit (Mortgage): Initial rate adjustment notice (Section 1026.20(d))	Modified
206184	Closed-End Credit (Mortgage): Initial rate adjustment notice (Section 1026.20(d)) one-time	Removed
206183	Disclosure: Closed-End Credit (Mortgage): ARM disclosure (Section 1026.20(c))	Modified
206182	Closed-End Credit (Mortgage): ARM disclosure (Section 1026.20(c)) one-time	Removed
200253	Disclosure: Closed-End Credit (Mortgage): Interest rate and payment summary (Section 1026.18(s)) and "No-guarantee-to-refinance" statement (Section 1026.(t)(1))	Modified
199372	Disclosure: Closed-End Credit (Non-Mortgage): Closed-end credit disclosures (Sections 1026.17 and 1026.18)	Modified
199371	Disclosure: All Open-End Credit: Error resolution - Other open-end credit (Sections 1026.13)	Modified
197094	Disclosure: All Open-End Credit: Error resolution - Credit Cards (Sections 1026.9(a))	Modified
193825	Disclosure: Open-End Credit (Home-Equity Plans): Notices to restrict credit (Sections 1026.9(c)(1)(iii) and 1026.40(f)(3)(i)) and (f)(3)(vi)	Modified
191438	Disclosure: Open-End Credit (Home-Equity Plans): Change-in-terms disclosures (Section 1026.9(c)(1)(i) and (ii))	Modified
189274	Disclosure: Open-End Credit (Home-Equity Plans): Periodic statements (Section 1026.7(a))	Modified
179781	Disclosure: Open-End Credit (Home-Equity Plans): Account opening disclosures (Section 1026.6)	Modified
179780	Disclosure: Open-End Credit (Home-Equity Plans): Application disclosures (Section 1026.40)	Modified
179778	Disclosure: Open-End (Not Home-Secured) Credit: Reporting and marketing rules for college student open-end credit (Section 1026.57(d)) and Internet posting of credit card agreements (Section 1026.58)	Modified
179777	Recordkeeping: Open-End (Not Home-Secured) Credit: Ability to pay policies (Section 1026.51)	Modified
179776	Open-End (Not Home-Secured) Credit: Ability to pay policies (Section 1026.51) one-time	Removed
179775	Recordkeeping: Open-End (Not Home-Secured) Credit: Timely settlement of estate debts policies (Section 1026.11(c))	Modified
179774	Open-End (Not Home-Secured) Credit: Timely settlement of estate debts policies (Section 1026.11(c))- one-time	Removed
179773	Disclosure: Open-End (Not Home-Secured) Credit: Change-in-terms disclosures (Section 1026.9)	Modified
179772	Disclosure: Open-End (Not Home-Secured) Credit: Periodic statements (Section 1026.7(b))	Modified
179769	Disclosure: Open-End (Not Home-Secured) Credit: Account opening disclosures (Section 1026.6(b))	Modified

ICR Details

OMB Control No: 7100-0199	ICR Reference No: 202103-7100-006
Status: Active	Previous ICR Reference No: 201605-7100-001
Agency/Subagency: FRS	Agency Tracking No: FR Z
Title: Recordkeeping and Disclosure Requirements Associated with Truth in Lending (Regulation Z)
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/17/2021
	Date Received in OIRA: 03/17/2021
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2021	05/31/2021	05/31/2021
Responses	14,189,381	0	38,029,410
Time Burden (Hours)	243,583	0	1,412,502
Cost Burden (Dollars)	0	0	0

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Abstract: The Truth in Lending Act (TILA) and Regulation Z promote the informed use of credit to consumers for personal, family, or household purposes by requiring disclosures about its terms and costs, as well as ensure that consumers are provided with timely information on the nature and costs of the residential real estate settlement process.

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Authorizing Statute(s): US Code: 15 USC 1604 Name of Law: Truth in Lending 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:
	81 FR 8492	02/19/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 27130	05/05/2016
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 29

IC Title	Form No.	Form Name
Disclosure: Certain Home Mortgage Types: Appraisals for higher-priced mortgage loans - Order and review initial appraisal (Sections 1026.43(c)(1). (c)2), (d), (e), and (f))
Disclosure: Certain Home Mortgage Types: Appraisals for higher-priced mortgage loans - Order and review additional appraisal (Sections 1026.43(c)(1). (c)2), (d), (e), and (f))
Disclosure: Certain Home Mortgage Types: Appraisals for higher-priced mortgage loans - Provide copy of initial and additional appraisals (Sections 1026.43(c)(1). (c)2), (d), (e), and (f))
Open-End (Not Home-Secured) Credit: Timely settlement of estate debts policies (Section 1026.11(c))- one-time
Open-End (Not Home-Secured) Credit: Ability to pay policies (Section 1026.51) one-time
Closed-End Credit (Mortgage): ARM disclosure (Section 1026.20(c)) one-time
Closed-End Credit (Mortgage): Initial rate adjustment notice (Section 1026.20(d)) one-time
Closed-End Credit (Mortgage): Verification of documents for Qualified Mortgage (QM) and non-QM determination (Section 1026.43) one-time
Open and Closed-End Mortgage: Prompt crediting & payoff statement (Section 1026.36(c)(3)) one-time
Certain Home Mortgage Types: HOEPA disclosures (Sections 1026.32(a)(1) and 1026.32(c)) one-time
Certain Home Mortgage Types: HOEPA receipt of certification of counseling for high-cost mortgages (Sections 1026.34(a)(5)(i)) one-time
Record Retention (Section 1026.25(c)(3)) one-time
Disclosure: Open and Closed-End Mortgage: Prompt crediting & payoff statement (Section 1026.36(c)(3))
Disclosure: Certain Home Mortgage Types: Reverse mortgage disclosures (Sections 1026.31(c)(2) and 1026.33)
Recordkeeping: Certain Home Mortgage Types: HOEPA receipt of certification of counseling for high-cost mortgages (Sections 1026.34(a)(5)(i))
Disclosure: Closed-End Credit (Mortgage): ARM disclosure (Section 1026.20(c))
Disclosure: Closed-End Credit (Mortgage): Initial rate adjustment notice (Section 1026.20(d))
Disclosure: Closed-End Credit (Non-Mortgage): Closed-end credit disclosures (Sections 1026.17 and 1026.18)
Disclosure: All Open-End Credit: Error resolution - Other open-end credit (Sections 1026.13)
Disclosure: Open-End Credit (Home-Equity Plans): Notices to restrict credit (Sections 1026.9(c)(1)(iii) and 1026.40(f)(3)(i)) and (f)(3)(vi)
Disclosure: Open-End Credit (Home-Equity Plans): Application disclosures (Section 1026.40)
Recordkeeping: Open-End (Not Home-Secured) Credit: Ability to pay policies (Section 1026.51)
Recordkeeping: Open-End (Not Home-Secured) Credit: Timely settlement of estate debts policies (Section 1026.11(c))
Disclosure: Open-End (Not Home-Secured) Credit: Periodic statements (Section 1026.7(b))
Disclosure: Open-End (Not Home-Secured) Credit: Change-in-terms disclosures (Section 1026.9)
Disclosure: Open-End Credit (Home-Equity Plans): Periodic statements (Section 1026.7(a))
Disclosure: Open-End Credit (Home-Equity Plans): Account opening disclosures (Section 1026.6)
Disclosure: Open-End Credit (Home-Equity Plans): Change-in-terms disclosures (Section 1026.9(c)(1)(i) and (ii))
Disclosure: Open-End (Not Home-Secured) Credit: Applications and solicitations (Section 1026.60)
Disclosure: Open-End (Not Home-Secured) Credit: Reporting and marketing rules for college student open-end credit (Section 1026.57(d)) and Internet posting of credit card agreements (Section 1026.58)
Disclosure: Open-End (Not Home-Secured) Credit: Account opening disclosures (Section 1026.6(b))
Disclosure: All Open-End Credit: Error resolution - Credit Cards (Sections 1026.9(a))
Disclosure: Closed-End Credit (Mortgage): Interest rate and payment summary (Section 1026.18(s)) and "No-guarantee-to-refinance" statement (Section 1026.(t)(1))
Disclosure: Private Education Loans: Private student loan disclosures (Section 1026.47)
Disclosure: Advertising Rules (all credit types) (Sections 026.16 and 1026.24)
Disclosure: Closed-End Credit (Mortgage): Periodic statements (Section 1026.41)
Disclosure: Open and Closed-End Mortgage: Mortgage transfer disclosure (Section 1026.39)
Disclosure: Certain Home Mortgage Types: HOEPA disclosures (Sections 1026.31, 1026.32,and 1026.36
Closed-End Credit (Mortgage): Periodic statements (Section 1026.41) one-time

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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	14,189,381	38,029,410	0	0	-23,840,029	0
Annual Time Burden (Hours)	243,583	1,412,502	0	0	-1,168,919	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: Reduction in burden hours reflects elimination of one-time burden as well as adjustments to align methodologies with that of the Consumer Financial Protection 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? 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: 03/17/2021

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