Terms of Credit Card Plans Survey

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Collect Registration Form	Form and Instruction	Modified	Available
Collection Template	Form	Modified	Available
College Credit Card Annual Agreement	Form	Modified	Repair queued
3170-0001 supporting statement .docx	Supporting Statement A	Uploaded 2023-02-10	Repair queued
3170-0001 (TCCP) 30-day FRN (published).pdf	Supplementary Document	Uploaded 2023-02-10	Repair queued
3170-0001 (TCCP) 60-day FRN (published).pdf	Supplementary Document	Uploaded 2022-11-18	Repair queued
12 CFR Part 1026 (Subpart G).pdf	Supplementary Document	Uploaded 2021-10-08	Repair queued
12 CFR Part 1002.pdf	Supplementary Document	Uploaded 2021-10-08	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
36266	Terms of Credit Card Plan Survey	Form and Instruction	Modified	Collect Registration Form
36266	Terms of Credit Card Plan Survey	Instruction	Modified
249626	College Credit Card Annual Agreement	Form	Modified	Collection Template
249626	College Credit Card Annual Agreement	Form	Modified
249626	College Credit Card Annual Agreement	Instruction	Modified
249625	Credit Card Quarterly Agreement		Modified

ICR Details

OMB Control No: 3170-0001	ICR Reference No: 202211-3170-003
Status: Active	Previous ICR Reference No: 202108-3170-002
Agency/Subagency: CFPB	Agency Tracking No:
Title: Terms of Credit Card Plans Survey
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/20/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 02/10/2023
Terms of Clearance: Please review the comment letter from the ABA over the next 3 months to determine whether any change is warrnted.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2026	36 Months From Approved	12/31/2024
Responses	2,090	0	1,990
Time Burden (Hours)	564	0	362
Cost Burden (Dollars)	0	0	0

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Abstract: Terms of Credit Card Plans Survey The Terms of Credit Card Plans (TCCP) Survey was implemented in February 1990 as required by Section 5 of the Fair Credit and Charge Card Disclosure Act (FCCCA) of 1988. Each respondent provides information about its credit card plan with the largest outstanding number of cards. The FCCCA required the Federal Reserve to collect this information semiannually from the largest 25 issuers of credit cards and at least 125 additional institutions in a manner that ensured both an equitable geographic distribution within the sample and representation of a wide spectrum of institutions. The Federal Reserve was further directed to make the credit card price information for each institution available to the public upon request and to report the information semiannually to Congress. Consumer Credit Card Agreement Quarterly Submission On July 21, 2011, the Bureau assumed responsibility under the CARD Act for the quarterly collecting of credit card agreements in a publicly available database. Pursuant to 12 CFR 1026.58 and 15 U.S.C. 1632(d)(2)–(3), collection is mandated for all issuers (subject to de minimis exceptions), and the scope of the mandate may require submission of multiple different agreements for each issuer. See 15 U.S.C. 1632(d)(2) (“Each creditor shall provide to the Bureau, in electronic format, the consumer credit card agreements that it publishes . . . .”) (emphasis added); id. at 1632(d)(3) (“The Bureau shall establish and maintain on its publicly available Internet site a central repository of the consumer credit card agreements received from creditors pursuant to this subsection, and such agreements shall be easily accessible and retrievable by the public.”) (emphasis added). College Credit Card Agreement Annual Submission This collection is made pursuant to the CARD Act requirement, codified at 12 CFR 1026.57(d); 15 U.S.C. 1637(r). Every year, the CARD Act requires the Bureau to collect agreements in place between credit card issuers and institutions of higher education, as well as certain summary data about the credit cards offered pursuant to these agreements. See 15 U.S.C. 1637(r)(2)(A) (“Each creditor shall submit an annual report to the Bureau containing the terms and conditions of all business, marketing, and promotional agreements and college affinity card agreements with an institution of higher education, or an alumni organization or foundation affiliated with or related to such institution, with respect to any college student credit card issued to a college student at such institution.”). The CARD Act requires the Bureau to submit to Congress, and to make available to the public, an annual report that lists information submitted to the Bureau concerning agreements between credit card issuers and institutions of higher education or certain affiliated organizations. See id. 1637(r)(3) (“The Bureau shall submit to the Congress, and make available to the public, an annual report . . . .”). Affiliated organizations include fraternities, sororities, alumni associations, or foundations affiliated with or related to an institution of higher education. The Bureau provides this centralized repository on its website and also submits to Congress and publishes an annual report each year based upon the submitted data.

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Authorizing Statute(s): PL: Pub.L. 100 - 583 5 Name of Law: Fair Credit and Charge Card Disclosure Act of 1988, as amended
   PL: Pub.L. 111 - 203 1100A Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 15 USC 1646(b) 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:
	87 FR 50851	08/18/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 8822	02/10/2023
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 3

table that charts list of burden

IC Title	Form No.	Form Name
College Credit Card Annual Agreement	N/A	Collection Template
Credit Card Quarterly Agreement
Terms of Credit Card Plan Survey	N/A	Collect Registration Form

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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	2,090	1,990	0	100	0	0
Annual Time Burden (Hours)	564	362	0	202	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The Bureau made program changes to this information collection that will alterwhat information is collected from respondents. Those changes to this survey resulted in an increase to the total number of responses (from 1,990 to 2,090) and an increase in the total annual hourly burden (from 362 hours to 564 hours).

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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: 02/10/2023

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