60-Day Federal Register Notice

60-Day FRN - 3038-0067 (87 FR 43797).pdf

Part 162 - Protection of Consumer Information under the Fair Credit Reporting Act

60-Day Federal Register Notice

OMB: 3038-0067

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Federal Register / Vol. 87, No. 140 / Friday, July 22, 2022 / Notices
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[FR Doc. 2022–15703 Filed 7–21–22; 8:45 am]
BILLING CODE 6353–01–P

COMMODITY FUTURES TRADING
COMMISSION
Agency Information Collection
Activities: Notice of Intent To Renew
Collection Number 3038–0067, Part
162—Protection of Consumer
Information Under the Fair Credit
Reporting Act
Commodity Futures Trading
Commission.
ACTION: Notice.
AGENCY:

The Commodity Futures
Trading Commission (‘‘Commission’’) is
announcing an opportunity for public
comment on the proposed renewal of a
collection of certain information by the
agency. Under the Paperwork Reduction
Act (‘‘PRA’’), Federal agencies are
required to publish notice in the
Federal Register concerning each
proposed collection of information,
including each proposed extension of an
existing collection of information, and
to allow 60 days for public comment.
This notice solicits comments on the
collections of information mandated by
Part 162 of the Commission’s
regulations (Protection of Consumer
Information under the Fair Credit
Reporting Act).
DATES: Comments must be submitted on
or before September 20, 2022.

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SUMMARY:

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You may submit comments,
identified by ‘‘OMB Control Number
3038–0067,’’ by any of the following
methods:
• The Agency’s website, at https://
comments.cftc.gov/. Follow the
instructions for submitting comments
through the website.
• Mail: Christopher Kirkpatrick,
Secretary of the Commission,
Commodity Futures Trading
Commission, Three Lafayette Centre,
1155 21st Street NW, Washington, DC
20581.
• Hand Delivery/Courier: Same as
Mail above.
Please submit your comments using
only one method. All comments must be
submitted in English, or if not,
accompanied by an English translation.
Comments will be posted as received to
https://www.cftc.gov.
FOR FURTHER INFORMATION CONTACT:
Andrew Chapin, Associate Chief
Counsel, Market Participants Division,
Commodity Futures Trading
Commission, (202) 418–5465, email:
[email protected].
SUPPLEMENTARY INFORMATION: Under the
PRA,1 Federal agencies must obtain
approval from the Office of Management
and Budget (‘‘OMB’’) for each collection
of information they conduct or sponsor.
‘‘Collection of Information’’ is defined
in 44 U.S.C. 3502(3) and 5 CFR 1320.3
and includes agency requests or
requirements that members of the public
submit reports, keep records, or provide
information to a third party. Section
3506(c)(2)(A) of the PRA, 44 U.S.C.
3506(c)(2)(A), requires Federal agencies
to provide a 60-day notice in the
Federal Register concerning each
proposed collection of information,
including each proposed extension of an
existing collection of information,
before submitting the collection to OMB
for approval. To comply with this
requirement, the Commission is
publishing notice of the proposed
collection of information listed below.
Title: Part 162—Protection of
Consumer Information under the Fair
Credit Reporting Act (OMB Control No.
3038–0067). This is a request for an
extension of currently approved
information collection.
Abstract: On July 21, 2010, the
President signed into law the DoddFrank Wall Street Reform and Consumer
Protection Act (‘‘Dodd-Frank Act’’).2
Title X of the Dodd-Frank Act, which is
titled the Consumer Financial
Protection Act of 2010 (‘‘CFP Act’’),
amends a number of federal consumer
ADDRESSES:

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1 44

U.S.C. 3501 et seq.
Law 111–203, 124 Stat. 1376 (2010).

2 Public

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43797

protection laws enacted prior to the
Dodd-Frank Act including, in relevant
part, the Fair Credit Reporting Act
(‘‘FCRA’’) 3 and the Fair and Accurate
Credit Transactions Act of 2003 (‘‘FACT
Act’’).4 Specifically, Section 1088 of the
CFP Act sets out certain amendments to
the FCRA and the FACT Act directing
the Commission to promulgate
regulations that are intended to provide
privacy protections to certain consumer
information held by an entity that is
subject to the jurisdiction of the
Commission.
Section 1088 amends section 214(b) of
the FACT Act—which added section
624 to the FCRA in 2003—and directs
the Commission to implement the
provisions of section 624 of the FCRA
with respect to persons that are subject
to the Commission’s enforcement
jurisdiction. Section 624 of the FCRA
gives a consumer the right to block
affiliates of an entity subject to the
Commission’s jurisdiction from using
certain information obtained from such
entity to make solicitations to that
consumer (hereinafter referred to as the
‘‘affiliate marketing rules’’).5 Under the
affiliate marketing rules, the entities
covered by the regulations are expected
to prepare and provide clear,
conspicuous and concise opt-out notices
to any consumers with whom such
entities have a pre-existing business
relationship. A covered entity only has
to provide an opt-out notice to the
extent that an affiliate of the covered
entity plans to make a solicitation to any
of the covered entity’s consumers. The
purpose of the opt-out notice is to
provide consumers with the ability to
prohibit marketing solicitations from
affiliate businesses that do not have a
pre-existing business relationship with
the consumers, but that do have access
to such consumers’ nonpublic, personal
information. A covered entity is
required to send opt-out notices at the
maximum of once every five years.
Section 1088 of the CFP Act also
amends section 628 of the FCRA and
mandates that the Commission
implement regulations requiring
persons subject to the Commission’s
jurisdiction who possess or maintain
consumer report information in
connection with their business activities
to properly dispose of that information
(hereinafter referred to as the ‘‘disposal
3 15

U.S.C. 1681–1681x.
Law 108–159, 117 Stat. 1952, 1980
(2003).
5 The affiliate marketing rules are found in Part
162, Subpart A (Business Affiliate Marketing Rules)
of the CFTC’s regulations. 17 CFR part 162, subpart
A.
4 Public

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Federal Register / Vol. 87, No. 140 / Friday, July 22, 2022 / Notices

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rules’’).6 Under the disposal rules, the
entities covered by the regulations are
expected to develop and implement a
written disposal plan with respect to
any consumer information within such
entities’ possession. The regulations
provide that a covered entity develop a
written disposal plan that is tailored to
the size and complexity of such entity’s
business. The purpose of the written
disposal plan is to establish a formal
plan for the disposal of nonpublic,
consumer information, which otherwise
could be illegally confiscated and used
by unauthorized third parties. Under the
rules, a covered entity is required to
develop a written disposal plan only
once, but may subsequently amend such
plan from time to time.
In addition, Section 1088 of the CFP
Act amended the FCRA by adding the
CFTC and the Securities and Exchange
Commission (‘‘SEC,’’ together with the
CFTC, the ‘‘Commissions’’) to the list of
federal agencies required to jointly
prescribe and enforce identity theft red
flags rules and guidelines and card
issuer rules. Thus, the Dodd-Frank Act
provides for the transfer of rulemaking
responsibility and enforcement
authority to the CFTC and SEC with
respect to the entities under their
respective jurisdiction. Accordingly, the
Commissions have issued final rules
and guidelines (hereinafter referred to as
the ‘‘identity theft rules’’) 7 to
implement new statutory provisions
enacted by the CFP Act that amend
section 615(e) of the FCRA and direct
the Commissions to prescribe rules
requiring entities that are subject to the
Commissions’ jurisdiction to address
identity theft. Under the identity theft
rules, entities covered by the regulation
are required to develop and implement
reasonable policies and procedures to
identify, detect, and respond to relevant
red flags for identity theft that are
appropriate to the size and complexity
of such entity’s business and, in the case
of entities that issue credit or debit
cards, to assess the validity of, and
communicate with cardholders
regarding, address changes.8 They are
6 The disposal rules are found in Part 162,
Subpart B (Disposal Rules) of the CFTC’s
regulations. 17 CFR part 162, subpart B.
7 The CFTC’s identity theft rules are found in Part
162, Subpart C (Identity Theft Red Flags) of the
CFTC’s regulations. 17 CFR part 162, subpart C.
8 The CFTC understands that CFTC-regulated
entities generally do not issue credit or debit cards,
but instead may partner with other entities, such as
banks, that issue cards on their behalf. These other
entities, which are not regulated by the CFTC, are
already subject to substantially similar change of
address obligations pursuant to other federal
regulators’ identity theft red flags rules. Therefore,
the CFTC does not expect that any CFTC-regulated
entities will be subject to the related information

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also required to provide for the
continued administration of identity
theft policies and procedures.
With respect to the collection of
information, the Commission invites
comments on:
• Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information will have a practical use;
• The accuracy of the Commission’s
estimate of the burden of the proposed
collection of information, including the
validity of the methodology and
assumptions used;
• Ways to enhance the
quality,usefulness, and clarity of the
information to be collected; and
• Ways to minimize the burden of
collection of information on those
whoare to respond, including through
the use of appropriate automated
electronic, mechanical, or other
technological collection techniques or
other forms of information technology;
e.g., permitting electronic submission of
responses.
You should submit only information
that you wish to make available
publicly. If you wish the Commission to
consider information that you believe is
exempt from disclosure under the
Freedom of Information Act, a petition
for confidential treatment of the exempt
information may be submitted according
to the procedures established in § 145.9
of the Commission’s regulations.9
The Commission reserves the right,
but shall have no obligation, to review,
pre-screen, filter, redact, refuse or
remove any or all of your submission
from https://www.cftc.gov that it may
deem to be inappropriate for
publication, such as obscene language.
All submissions that have been redacted
or removed that contain comments on
the merits of the information collection
request will be retained in the public
comment file and will be considered as
required under the Administrative
Procedure Act and other applicable
laws, and may be accessible under the
Freedom of Information Act.
Burden Statement: The Commission
is revising its burden estimate for this
collection to reflect its estimate of the
current number of CFTC registrants
subject to the requirements of Part 162
regulations. The respondent burden for
this collection is estimated to be as
follows:
Estimated Number of Respondents:
4,420.
Estimated Total Annual Burden
Hours: 58,090.
collection requirements under the CFTC’s identity
theft rules.
9 17 CFR 145.9.

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Frequency of Collection: As
applicable.
There are no capital costs or operating
and maintenance costs associated with
this collection.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: July 19, 2022.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2022–15698 Filed 7–21–22; 8:45 am]
BILLING CODE 6351–01–P

U.S. INTERNATIONAL DEVELOPMENT
FINANCE CORPORATION
[DFC–013]

Submission for OMB Review;
Comments Request
U.S. International Development
Finance Corporation (DFC).
ACTION: Notice of information collection;
request for comment.
AGENCY:

Under the provisions of the
Paperwork Reduction Act, agencies are
required to publish a Notice in the
Federal Register notifying the public
that the agency is renewing an existing
information collection for OMB review
and approval and requests public
review and comment on the submission.
The agencies received no comments in
response to the sixty (60) day notice.
The purpose of this notice is to allow an
additional thirty (30) days for public
comments to be submitted. Comments
are being solicited on the need for the
information; the accuracy of the burden
estimate; the quality, practical utility,
and clarity of the information to be
collected; and ways to minimize
reporting the burden, including
automated collected techniques and
uses of other forms of technology.
DATES: Comments must be received by
September 20, 2022.
ADDRESSES: Comments and requests for
copies of the subject information
collection may be sent by any of the
following methods:
• Mail: Deborah Papadopoulos,
Agency Submitting Officer, U.S.
International Development Finance
Corporation, 1100 New York Avenue
NW, Washington, DC 20527.
• Email: [email protected].
Instructions: All submissions received
must include the agency name and
agency form number or OMB form
number for this information collection.
Electronic submissions must include the
agency form number in the subject line
to ensure proper routing. Please note
that all written comments received in
response to this notice will be
considered public records.
SUMMARY:

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