Privacy of Consumer Financial Information (Regulation P)

ICR 202208-3170-003

OMB: 3170-0010

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2022-08-18
Supplementary Document
2022-08-16
Supplementary Document
2022-08-09
ICR Details
3170-0010 202208-3170-003
Received in OIRA 201808-3170-005
CFPB
Privacy of Consumer Financial Information (Regulation P)
Extension without change of a currently approved collection   No
Regular 08/18/2022
  Requested Previously Approved
36 Months From Approved 08/31/2022
466,125 466,125
312,916 312,916
0 0

Section 502 of the Gramm-Leach-Bliley Act (GLBA) (Pub. L. 106-102) generally prohibits a financial institution from sharing nonpublic personal information about a consumer with nonaffiliated third parties unless the institution satisfies various disclosure requirements (including provision of initial privacy notices, annual notices, notices of revisions to the institution's privacy policy, and opt-out notices) and the consumer has not elected to opt out of the information sharing. The Bureau of Consumer Financial Protection (Bureau) promulgated regulation P 12 CFR 1016 to implement the GLB Act's notice requirements and restrictions on a financial institution's ability to disclose nonpublic personal information about consumers to nonaffiliated third parties.

PL: Pub.L. 106 - 102 502 Name of Law: Gramm-Leach-Bliley Act
  
PL: Pub.L. 114 - 94 75001 Name of Law: Gramm-Leach-Bliley Act

Not associated with rulemaking

  87 FR 31535 05/24/2022
87 FR 49809 08/12/2022
No

  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 466,125 466,125 0 0 0 0
Annual Time Burden (Hours) 312,916 312,916 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The Bureau is making no program changes to this information collection.

$0
No
    No
    No
No
Yes
No
No
Lucas Nathe 202 435-7635

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
08/18/2022


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