Affiliate Marketing/Consumer Opt-out Notices

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
SPST-0149 Affiliate Marketing Opt Out 2024 Extension.docx	Supporting Statement A	Uploaded 2024-01-23	Repair queued
FR2 0149 - Affiliate Marketing Opt Out 89 FR 3923 January 22, 2024.pdf	Supplementary Document	Uploaded 2024-01-23	Repair queued
FR1 0149 - Affiliate Marketing Opt Out 88 FR 78359 November 15 2023.pdf	Supplementary Document	Uploaded 2024-01-23	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
31967	Affiliate Marketing Disclosure - Implementation		Modified
227660	Affiliate Marketing Disclosure - Ongoing		Modified
182668	Consumer Opt Out Notices		Modified

ICR Details

OMB Control No: 3064-0149	ICR Reference No: 202311-3064-001
Status: Active	Previous ICR Reference No: 202011-3064-006
Agency/Subagency: FDIC	Agency Tracking No:
Title: Affiliate Marketing/Consumer Opt-out Notices
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: 04/01/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 01/25/2024
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2027	36 Months From Approved	03/31/2024
Responses	798,479	0	858,025
Time Burden (Hours)	68,105	0	73,541
Cost Burden (Dollars)	0	0	0

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Abstract: Section 214 of the FACT Act (Pub.L. 108-159) requires financial institutions to disclose to consumers the opportunity to opt out of marketing solicitations from affiliates. The disclosures and responsive consumer opt-out notices comprise the elements of this collection of information.

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Authorizing Statute(s): PL: Pub.L. 108 - 159 214 Name of Law: Fair and Accurate Credit Transactions Act of 2003 (FACT Act)
  

Citations for New Statutory Requirements: US Code: 12 USC 5301 et seq. 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:
	88 FR 78359	11/15/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 3923	01/22/2024
Did the Agency receive public comments on this ICR? No

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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
Affiliate Marketing Disclosure - Implementation
Affiliate Marketing Disclosure - Ongoing
Consumer Opt Out Notices

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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	798,479	858,025	0	0	-59,546	0
Annual Time Burden (Hours)	68,105	73,541	0	0	-5,436	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: 01/25/2024

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