Agency Information Collection Activities: Submission for OMB Review; Comment Request

Federal Register, Volume 85 Issue 166 (Wednesday, August 26, 2020)
[Federal Register Volume 85, Number 166 (Wednesday, August 26, 2020)]
[Pages 52559-52560]
From the Federal Register Online via the Government Publishing Office []
[FR Doc No: 2020-18704]
[Docket No. CFPB-2020-0030]
Agency Information Collection Activities: Submission for OMB
Review; Comment Request
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Notice and request for comment.
SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA),
the Bureau of Consumer Financial Protection (Bureau) is requesting to
renew the Office of Management and Budget's (OMB's) approval for an
existing information collection.
DATES: Written comments are encouraged and must be received on or
before September 25, 2020 to be assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function. In general,
all comments received will become public records, including any
personal information provided. Sensitive personal information, such as
account numbers or Social Security numbers, should not be included.
FOR FURTHER INFORMATION CONTACT: Documentation prepared in support of
this information collection request is available at
(this link becomes active on the day following publication of this
notice). Select ``Information Collection Review,'' under ``Currently
under Review,'' use the dropdown menu ``Select Agency'' and select
``Consumer Financial Protection Bureau'' (recent submissions to OMB
will be at the top of the list). The same documentation is also
available at Requests for additional
information should be directed to Darrin King, PRA Officer, at (202)
435-9575, or email: [email protected]. If you require this document in
an alternative electronic format, please contact
[email protected]. Please do not submit comments to these
email boxes.
 Title of Collection: Fair Credit Reporting Act (Regulation V) 12
CFR 1022.
 OMB Control Number: 3170-0002.
[[Page 52560]]
 Type of Review: Extension without change of a currently approved
 Affected Public: Business or other for profit.
 Estimated Number of Respondents: 779,073.
 Estimated Total Annual Burden Hours: 6,246,866.
 Abstract: The consumer disclosures included in Regulation V are
designed to alert consumers that a financial institution furnished
negative information about them to a consumer reporting agency, that
they have a right to opt out of receiving marketing materials and
credit or insurance offers, that their credit report was used in
setting the material terms of credit that may be less favorable than
the terms offered to consumers with better credit histories, that they
maintain certain rights with respect to a theft of their identity that
they reported to a consumer reporting agency, that they maintain rights
with respect to knowing what is in their consumer reporting agency
file, that they can request a free credit report, and that they can
report a theft of their identity to the Bureau. Consumers then can use
the information provided to consider how and when to check and use
their credit reports. This is a routine request for OMB to renew its
approval of the collections of information currently approved under
this OMB control number. The Bureau is not proposing any new or revised
collections of information pursuant to this request.
 Request for Comments: The Bureau issued a 60-day Federal Register
notice on June 15, 2020, 85 FR 36188, Docket Number: CFPB-2020-0017. No
Comments were received. Comments were solicited and continue to be
invited on: (a) Whether the collection of information is necessary for
the proper performance of the functions of the Bureau, including
whether the information will have practical utility; (b) The accuracy
of the Bureau's estimate of the burden of the collection of
information, including the validity of the methods and the assumptions
used; (c) Ways to enhance the quality, utility, and clarity of the
information to be collected; and (d) Ways to minimize the burden of the
collection of information on respondents, including through the use of
automated collection techniques or other forms of information
technology. Comments submitted in response to this notice will be
reviewed by OMB as part of its review of this request. All comments
will become a matter of public record.
 Dated: August 20, 2020.
Darrin King,
Paperwork Reduction Act Officer, Bureau of Consumer Financial
[FR Doc. 2020-18704 Filed 8-25-20; 8:45 am]