Recordkeeping and Disclosure Requirements Associated with CFPB's Regulation E

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
FRE_20221130_omb.pdf	Supporting Statement A	Uploaded 2022-11-30	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
36218	Recordkeeping Sections 1005.20(b)(2), 1005.20(e)(1), and 1005.33(g) Recordkeeping		Modified
251089	Disclosure Section 1005.36 Remittance transfers scheduled before the date of transfer		Unchanged
237953	Disclosure Section 1005.33 Error resolution for remittance transfers		Unchanged
237952	Disclosure Section 1005.31 Remittance transfer disclosures		Unchanged
217957	Disclosure Section 1005.19(b) Internet posting and submission of prepaid account agreements		Unchanged
217955	Disclosure Section 1005.18(b)(2)(ix) Pre-acquisition disclosures (short form disclosure)		Unchanged
217953	Disclosure Sections 1005.8(b), 1005.11, 1005.18(d)(1)(ii), (d)(2), and 18(e) Error resolution		Modified
217951	Disclosure Sections 1005.9(b) and 1005.18(c) Periodic statements		Modified
191445	Disclosure Sections 1005.8(a) and 1005.18(f)(2) Change-in-terms		Modified
191443	Disclosure Sections 1005.7(b) and 1005.18(d)(1)(i) and (f)(1) Initial disclosures		Modified

ICR Details

OMB Control No: 7100-0200	ICR Reference No: 202211-7100-006
Status: Historical Active	Previous ICR Reference No: 202201-7100-003
Agency/Subagency: FRS	Agency Tracking No: FR E
Title: Recordkeeping and Disclosure Requirements Associated with CFPB's Regulation E
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/30/2022
Retrieve Notice of Action (NOA)	Date Received in OIRA: 11/30/2022
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2025	36 Months From Approved	11/30/2022
Responses	565,486	0	565,486
Time Burden (Hours)	170,369	0	170,369
Cost Burden (Dollars)	0	0	0

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Abstract: Since 2011, the Consumer Financial Protection Bureau (CFPB) has been responsible for issuing most of the Electronic Fund Transfer Act (EFTA) regulations that apply to financial institutions and other entities (except for certain motor vehicle dealers), other than the EFTA provisions governing debit card interchange fees and routing of debit card transactions. However, the Board continues to be responsible under the Paperwork Reduction Act (PRA) for implementing the information collections mandated by the CFPB’s Regulation E - Electronic Fund Transfers for institutions that are supervised by the Board.

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Authorizing Statute(s): US Code: 15 USC 1693b Name of Law: Electronic Fund Transfer 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 44116	07/25/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 73302	11/29/2022
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 10

table that charts list of burden

IC Title	Form No.	Form Name
Disclosure Section 1005.18(b)(2)(ix) Pre-acquisition disclosures (short form disclosure)
Disclosure Section 1005.19(b) Internet posting and submission of prepaid account agreements
Disclosure Section 1005.31 Remittance transfer disclosures
Disclosure Section 1005.33 Error resolution for remittance transfers
Disclosure Section 1005.36 Remittance transfers scheduled before the date of transfer
Disclosure Sections 1005.7(b) and 1005.18(d)(1)(i) and (f)(1) Initial disclosures
Disclosure Sections 1005.8(a) and 1005.18(f)(2) Change-in-terms
Disclosure Sections 1005.8(b), 1005.11, 1005.18(d)(1)(ii), (d)(2), and 18(e) Error resolution
Disclosure Sections 1005.9(b) and 1005.18(c) Periodic statements
Recordkeeping Sections 1005.20(b)(2), 1005.20(e)(1), and 1005.33(g) Recordkeeping

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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	565,486	565,486	0	0	0	0
Annual Time Burden (Hours)	170,369	170,369	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: $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]? No

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: 11/30/2022

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