Regulation Z (Truth In Lending)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
2021 Reg Z Supporting Statement.pdf	Supporting Statement A	Uploaded 2021-09-13	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
32270	Recordkeeping		Unchanged
230776	Transactions for posting and reporting of prepaid account agreements		Unchanged
230774	Credit & charge card accts (transaction-related) - prepaid accounts		Unchanged
230773	Error resolution transactions -- prepaid accounts followup		Unchanged
230772	Periodic statements transaction-related -- prepaid accounts		Unchanged
230771	Subsequent disclosures transactions -- prepaid accounts		Unchanged
230770	Initial terms (open-end) transactions - prepaid accounts		Unchanged
230768	Advertising (open-end credit) -- prepaid accounts updates		Unchanged
230764	Advertising (open-end credit) - prepaid accounts		Unchanged
230763	Setup for posting and reporting of prepaid account agreements		Unchanged
230760	Credit and charge card accounts -- prepaid accounts		Unchanged
230759	Setup for error resolution - prepaid accounts followup		Unchanged
230757	Setup for periodic statements - prepaid accounts		Unchanged
230756	Setup for subsequent disclosures - prepaid accounts		Unchanged
230755	Setup for initial terms - prepaid accounts		Unchanged
216179	Loan originator transactions (closed-end credit)		Unchanged
216178	Mortgage servicing transactions (closed-end credit)		Unchanged
216177	Setup for loan originator compensation requirements (closed-end)		Unchanged
216176	Setup for mortgage servicing regarding prompt crediting & payoff responses (closed-end credit)		Unchanged
216175	Setup for credit card issuers re consumer ability to pay		Unchanged
216173	Transactions for closed-end credit higher priced mortgages		Unchanged
216172	Transactions for for closed-end credit high cost mortgages		Unchanged
216170	Integrated mortgage disclosures transactions		Unchanged
216168	Loan originator transactions (open-end credit)		Unchanged
216167	Mortgage servicing transactions (open-end credit)		Unchanged
216166	Transactions for home equity LOCs high cost mtgs (open-end credit)		Unchanged
216163	Setup for closed-end credit higher priced mortgages		Unchanged
216162	Setup for closed-end credit high cost mortgages		Unchanged
216161	Setup for integrated mortgage disclosures		Unchanged
216158	Setup for loan originator compensation requirements (open-end credit)		Unchanged
216157	Setup for mortgage servicing regarding prompt crediting & payoff responses (open-end credit)		Unchanged
216156	Setup for home equity lines of credit -- high-cost mortgages (open-end credit)		Unchanged
216155	Incremental recordkeeping for loan originators		Unchanged
216154	Incremental recordkeeping for credit card issuers re consumer ability to pay		Unchanged
200985	Appraiser misconduct reporting: transaction-related (closed-end credit)		Unchanged
200984	Closed-end credit: Sale, trsfr, or assignment of mtgs (transaction-related)		Unchanged
200983	Private education loans: transaction-related		Unchanged
200982	Redisclosures: transaction-related		Unchanged
200981	Appraiser misconduct rptg: transaction-related (open-end credit)		Unchanged
200980	Open-end credit: Sale, trsfr, or assignment of mtgs (transaction-related)		Unchanged
200979	Posting & rptg of credit card agreements: transaction-related		Unchanged
200978	College student credit card mktg -- card issuer rpts: transaction-related		Unchanged
200977	College student credit card mktg -- ed. institutions_transaction-related		Unchanged
200976	Special credit card requirements transaction-related		Unchanged
200975	Settlement of estate debts transaction-related		Unchanged
200973	Setup for appraiser misconduct reporting (closed-end credit)		Unchanged
200972	Closed-end credit: Setup for sale, transfer, or assignment of mtgs		Unchanged
200971	Setup for private education loans		Unchanged
200970	Setup for redisclosures		Unchanged
200968	Setup for appraiser misconduct reporting (open-end credit)		Unchanged
200967	Open-end credit: Setup for sale, transfer, or assignment of mtgs		Unchanged
200966	Setup for posting and reporting of credit card agreements		Unchanged
200965	Setup for college student credit card mktg -- card issuer reports		Unchanged
200964	Setup for college student credit card mktg -- ed. institutions		Unchanged
200962	Setup for special credit card requirements		Unchanged
200961	Setup for settlement of estate debts		Unchanged
188328	Advertising transaction-related (closed-end credit)		Unchanged
188327	Reverse mortgages transactions		Unchanged
188325	Variable rate mortgages transactions		Unchanged
188324	Rescission notices transactions (closed-end credit)		Unchanged
188323	Credit disclosures transactions		Unchanged
188322	Advertising transaction-related (open-end credit)		Unchanged
188321	Home equity lines of credit transactions (open-end credit)		Unchanged
188320	Credit & charge card accts transaction-related		Unchanged
188318	Error resolution transactions		Unchanged
188317	Periodic statements transaction-related		Unchanged
188316	Subsequent disclosures transactions		Unchanged
188315	Rescission notices transactions (open-end credit)		Unchanged
188313	Initial terms transactions		Unchanged
188306	Setup for advertising disclosures (closed-end credit)		Unchanged
188305	Setup for reverse mortgages disclosures		Unchanged
188303	Setup for variable rate mortgages disclosures		Unchanged
188302	Setup for rescission notices (closed-end credit)		Unchanged
188301	Setup for credit disclosures		Unchanged
188300	Setup for advertising disclosures (open-end credit)		Unchanged
188299	Setup for open-end credit home equity lines of credit disclosures		Unchanged
188298	Setup for credit and charge card accounts disclosures		Unchanged
188297	Setup for error resolution disclosures		Unchanged
188296	Setup for periodic statements disclosures		Unchanged
188295	Setup for subsequent disclosures		Unchanged
188294	Setup for rescission notices disclosures (open-end credit)		Unchanged
188293	Setup for initial terms disclosures		Unchanged

ICR Details

OMB Control No: 3084-0088	ICR Reference No: 202106-3084-004
Status: Historical Active	Previous ICR Reference No: 201803-3084-004
Agency/Subagency: FTC	Agency Tracking No:
Title: 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
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/24/2021
Retrieve Notice of Action (NOA)	Date Received in OIRA: 09/15/2021
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2024	36 Months From Approved	11/30/2021
Responses	993,127,660	0	993,127,660
Time Burden (Hours)	8,416,441	0	8,416,441
Cost Burden (Dollars)	0	0	0

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Abstract: The Federal Trade Commission (FTC) seeks renewed clearance for the the information collection requirements associated with this enforcement of the Consumer Financial Protection Bureau's (CFPB) Regulation Z. Regulation Z requires accurate disclosure of the costs and terms of credit to consumers, including both open-end and closed-end credit. It also imposes advertising disclosure requirements and establishes billing error resolution procedures. It requires creditors to keep records sufficient to show compliance. Given their generally shared enforcement jurisdiction for Regulation Z under the Dodd-Frank Act, the CFPB and the FTC have divided the FTC’s previously cleared PRA burden between them, except that the FTC has wholly assumed all of the burden estimates associated with motor vehicle dealers and is also doing so, when appropriate, regarding estimated burden for state-chartered credit unions.

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Authorizing Statute(s): US Code: 15 USC 1601 et seq. Name of Law: Truth in Lending Act
   PL: Pub.L. 111 - 203 1024, 1029, 1061, 1100A Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 1024, 1029, 1061, 1100A 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 26725	05/17/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 51355	09/15/2021
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 82

table that charts list of burden

IC Title	Form No.	Form Name
Advertising (open-end credit) - prepaid accounts
Advertising (open-end credit) -- prepaid accounts updates
Advertising transaction-related (closed-end credit)
Advertising transaction-related (open-end credit)
Appraiser misconduct reporting: transaction-related (closed-end credit)
Appraiser misconduct rptg: transaction-related (open-end credit)
Closed-end credit: Sale, trsfr, or assignment of mtgs (transaction-related)
Closed-end credit: Setup for sale, transfer, or assignment of mtgs
College student credit card mktg -- card issuer rpts: transaction-related
College student credit card mktg -- ed. institutions_transaction-related
Credit & charge card accts (transaction-related) - prepaid accounts
Credit & charge card accts transaction-related
Credit and charge card accounts -- prepaid accounts
Credit disclosures transactions
Error resolution transactions
Error resolution transactions -- prepaid accounts followup
Home equity lines of credit transactions (open-end credit)
Incremental recordkeeping for credit card issuers re consumer ability to pay
Incremental recordkeeping for loan originators
Initial terms (open-end) transactions - prepaid accounts
Initial terms transactions
Integrated mortgage disclosures transactions
Loan originator transactions (closed-end credit)
Loan originator transactions (open-end credit)
Mortgage servicing transactions (closed-end credit)
Mortgage servicing transactions (open-end credit)
Open-end credit: Sale, trsfr, or assignment of mtgs (transaction-related)
Open-end credit: Setup for sale, transfer, or assignment of mtgs
Periodic statements transaction-related
Periodic statements transaction-related -- prepaid accounts
Posting & rptg of credit card agreements: transaction-related
Private education loans: transaction-related
Recordkeeping
Redisclosures: transaction-related
Rescission notices transactions (closed-end credit)
Rescission notices transactions (open-end credit)
Reverse mortgages transactions
Settlement of estate debts transaction-related
Setup for advertising disclosures (closed-end credit)
Setup for advertising disclosures (open-end credit)
Setup for appraiser misconduct reporting (closed-end credit)
Setup for appraiser misconduct reporting (open-end credit)
Setup for closed-end credit high cost mortgages
Setup for closed-end credit higher priced mortgages
Setup for college student credit card mktg -- card issuer reports
Setup for college student credit card mktg -- ed. institutions
Setup for credit and charge card accounts disclosures
Setup for credit card issuers re consumer ability to pay
Setup for credit disclosures
Setup for error resolution - prepaid accounts followup
Setup for error resolution disclosures
Setup for home equity lines of credit -- high-cost mortgages (open-end credit)
Setup for initial terms - prepaid accounts
Setup for initial terms disclosures
Setup for integrated mortgage disclosures
Setup for loan originator compensation requirements (closed-end)
Setup for loan originator compensation requirements (open-end credit)
Setup for mortgage servicing regarding prompt crediting & payoff responses (closed-end credit)
Setup for mortgage servicing regarding prompt crediting & payoff responses (open-end credit)
Setup for open-end credit home equity lines of credit disclosures
Setup for periodic statements - prepaid accounts
Setup for periodic statements disclosures
Setup for posting and reporting of credit card agreements
Setup for posting and reporting of prepaid account agreements
Setup for private education loans
Setup for redisclosures
Setup for rescission notices (closed-end credit)
Setup for rescission notices disclosures (open-end credit)
Setup for reverse mortgages disclosures
Setup for settlement of estate debts
Setup for special credit card requirements
Setup for subsequent disclosures
Setup for subsequent disclosures - prepaid accounts
Setup for variable rate mortgages disclosures
Special credit card requirements transaction-related
Subsequent disclosures transactions
Subsequent disclosures transactions -- prepaid accounts
Transactions for closed-end credit higher priced mortgages
Transactions for for closed-end credit high cost mortgages
Transactions for home equity LOCs high cost mtgs (open-end credit)
Transactions for posting and reporting of prepaid account agreements
Variable rate mortgages transactions

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ICR Summary of Burden

table that charts list 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	993,127,660	993,127,660	0	0	0	0
Annual Time Burden (Hours)	8,416,441	8,416,441	0	0	0	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: $1,572,820

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: 09/15/2021

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