Regulation E (Electronic Fund Transfers)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Benjamin Turner - Public Comment for Regulations BEMZ.docx	Public Comments	Uploaded 2024-09-06	Repair queued
Regulation E - SS - 2024 - FINAL.pdf	Supporting Statement A	Uploaded 2024-11-20	Available
Regulation E - SS - 2024 - FINAL.pdf	Supporting Statement A	Uploaded 2024-11-20	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
32258	Recordkeeping for firms offering EFT services to consumers		Unchanged
230636	Transactions regarding updates to agreements		Modified
230635	Transactions regarding submission of agreements		Modified
230634	Transactions regarding error resolution followup		Unchanged
230633	Transactions regarding error resolution		Unchanged
230632	Transactions regarding access to account information		Unchanged
230618	Transactions regarding disclosures for prepaid accounts & gov't benefits		Unchanged
230616	Setup/monitoring for submissions of agreements		Unchanged
230614	Setup/monitoring for error resolution		Unchanged
230613	Setup/monitoring for access to account information		Unchanged
230592	Setup/monitoring for updates to disclosures for prepaid accounts & gov't benefits		Unchanged
230564	Setup/monitoring for prepaid accounts and gov't. benefits disclosures		Unchanged
201220	Remittance transfers agent compliance transactions		Unchanged
201219	Remittance transfers error resolution transactions		Unchanged
201218	Remittance transfers disclosures transactions		Unchanged
201217	Gift cards transactions		Unchanged
201216	Overdraft services transactions		Unchanged
201184	Setup/monitoring for remittance transfers agent compliance		Unchanged
201183	Setup/monitoring for remittance transfers error resolution		Unchanged
201182	Setup/monitoring for remittance transfers disclosures		Unchanged
201181	Setup/monitoring for gift cards		Unchanged
201177	Setup/monitoring for overdraft services		Unchanged
188283	Electronic check conversion transactions		Unchanged
188282	ATM notices transactions		Unchanged
188280	Service provider notices transactions		Unchanged
188279	Preauthorized transfers transactions		Unchanged
188278	Transaction receipts		Unchanged
188277	Error resolution transactions		Unchanged
188276	Periodic statements transactions		Unchanged
188275	Change in terms transactions		Unchanged
188274	Initial terms transactions		Unchanged
188272	Setup/monitoring for electronic check conversion		Unchanged
188271	Setup/monitoring for ATM notices		Unchanged
188269	Setup/monitoring for service provider notices		Unchanged
188268	Setup/monitoring for preauthorized transfers		Unchanged
188267	Setup/monitoring for transaction receipts		Unchanged
188266	Setup/monitoring for error resolution		Unchanged
188265	Setup/monitoring for periodic statements		Unchanged
188264	Setup/monitoring for change in terms		Unchanged
188263	Setup/monitoring for initial terms		Unchanged

ICR Details

OMB Control No: 3084-0085	ICR Reference No: 202411-3084-003
Status: Active	Previous ICR Reference No: 202106-3084-002
Agency/Subagency: FTC	Agency Tracking No:
Title: Regulation E (Electronic Fund Transfers)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/07/2025
Retrieve Notice of Action (NOA)	Date Received in OIRA: 11/22/2024
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2028	36 Months From Approved	01/31/2025
Responses	5,563,416,032	0	5,563,416,032
Time Burden (Hours)	7,435,956	0	7,435,958
Cost Burden (Dollars)	0	0	0

---

Abstract: The Federal Trade Commission (FTC) seeks renewed clearance for the information collection requirements associated with the agency's enforcement of the Consumer Financial Protection Bureau's (CFPB) Regulation E. This regulation requires accurate disclosure of the costs, terms, and rights relating to electronic fund transfer services to consumers. It also requires financial institutions to retain records sufficient to show compliance with the regulation. Given their generally shared enforcement jurisdiction for Regulation E under the Dodd-Frank Act, the CFPB and the FTC have divided the FTC’s previously cleared PRA burden between them, except that the FTC has wholly assumed all of the burden estimates associated with motor vehicle dealers and is also doing so, when appropriate, regarding estimated burden for state-chartered credit unions.

---

Authorizing Statute(s): US Code: 15 USC 1693 et seq. Name of Law: Electronic Fund Transfer Act
   PL: Pub.L. 111 - 203 1024, 1029, 1061, 1100A Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 1024, 1029, 1061, 1100E

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 62736	08/01/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 92685	11/01/2024
Did the Agency receive public comments on this ICR? Yes

---

Number of Information Collection (IC) in this ICR: 40

table that charts list of burden

IC Title	Form No.	Form Name
ATM notices transactions
Change in terms transactions
Electronic check conversion transactions
Error resolution transactions
Gift cards transactions
Initial terms transactions
Overdraft services transactions
Periodic statements transactions
Preauthorized transfers transactions
Recordkeeping for firms offering EFT services to consumers
Remittance transfers agent compliance transactions
Remittance transfers disclosures transactions
Remittance transfers error resolution transactions
Service provider notices transactions
Setup/monitoring for ATM notices
Setup/monitoring for access to account information
Setup/monitoring for change in terms
Setup/monitoring for electronic check conversion
Setup/monitoring for error resolution
Setup/monitoring for error resolution
Setup/monitoring for gift cards
Setup/monitoring for initial terms
Setup/monitoring for overdraft services
Setup/monitoring for periodic statements
Setup/monitoring for preauthorized transfers
Setup/monitoring for prepaid accounts and gov't. benefits disclosures
Setup/monitoring for remittance transfers agent compliance
Setup/monitoring for remittance transfers disclosures
Setup/monitoring for remittance transfers error resolution
Setup/monitoring for service provider notices
Setup/monitoring for submissions of agreements
Setup/monitoring for transaction receipts
Setup/monitoring for updates to disclosures for prepaid accounts & gov't benefits
Transaction receipts
Transactions regarding access to account information
Transactions regarding disclosures for prepaid accounts & gov't benefits
Transactions regarding error resolution
Transactions regarding error resolution followup
Transactions regarding submission of agreements
Transactions regarding updates to agreements

---

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	5,563,416,032	5,563,416,032	0	0	0	0
Annual Time Burden (Hours)	7,435,956	7,435,958	0	0	-2	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: There are no program changes. The projected decrease of two annual burden hours from the currently approved clearance is caused by rounding discrepancies between the estimates for 2021 and this renewal request. FTC Staff adjusted their labor cost estimates to take into account updated BLS wage data.

---

Annual Cost to Federal Government: $1,055,953

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

---

Common Form ICR:  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:

(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: 11/22/2024

---