80 FR 25281 - Agency Information Collection Activities: Comment Request

BUREAU OF CONSUMER FINANCIAL PROTECTION

Federal Register Volume 80, Issue 85 (May 4, 2015)

In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to renew the approval for an existing information collection titled, ``Consumer Leasing Act (Regulation M) 12 CFR 1013.''

[Federal Register Volume 80, Number 85 (Monday, May 4, 2015)]
[Notices]
[Pages 25281-25282]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-10367]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No: CFPB-2015-0018]


Agency Information Collection Activities: Comment Request

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for comment.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA), 
the Consumer Financial Protection Bureau (Bureau) is requesting to 
renew the approval for an existing information collection titled, 
``Consumer Leasing Act (Regulation M) 12 CFR 1013.''

DATES: Written comments are encouraged and must be received on or 
before July 6, 2015 to be assured of consideration.

ADDRESSES: You may submit comments, identified by the title of the 
information collection, OMB Control Number (see below), and docket 
number (see above), by any of the following methods:
     Electronic: http://www.regulations.gov. Follow the 
instructions for submitting comments.
     Mail: Consumer Financial Protection Bureau (Attention: PRA 
Office), 1700 G Street NW., Washington, DC 20552.
     Hand Delivery/Courier: Consumer Financial Protection 
Bureau (Attention: PRA Office), 1275 First Street NE., Washington, DC 
20002.
    Please note that comments submitted after the comment period will 
not be accepted. 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 
www.regulations.gov. Requests for additional information should be 
directed to the Consumer Financial Protection Bureau, (Attention: PRA 
Office), 1700 G Street NW., Washington, DC 20552, (202) 435-9575, or 
email: [email protected]. Please do not submit comments to this mailbox.

SUPPLEMENTARY INFORMATION: 

[[Page 25282]]

    Title of Collection: Consumer Leasing Act (Regulation M) 12 CFR 
1013.
    OMB Control Number: 3170-0006.
    Type of Review: Extension without change of a currently approved 
collection.
    Affected Public: Businesses and other for-profit institutions.
    Estimated Number of Respondents: 13,718.
    Estimated Total Annual Burden Hours: 5,500.
    Abstract: Consumers rely upon the disclosures required by the 
Consumer Leasing Act, 15 U.S.C. 1667 et seq. (CLA) and Regulation M, 12 
CFR 1013, for information to comparison shop among leases, as well as 
to ascertain the true costs and terms of lease offers. Federal and 
state enforcement and private litigants use the records to ascertain 
whether accurate and complete disclosures of the cost of leases have 
been provided to consumers prior to consummation of the lease. This 
information provides the primary evidence of law violations in CLA 
enforcement actions brought by federal agencies. Without Regulation M's 
recordkeeping requirement, the agencies' ability to enforce the CLA 
would be significantly impaired.
    Request for Comments: Comments are 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 summarized and/or included in the request for Office of 
Management and Budget (OMB) approval. All comments will become a matter 
of public record.

    Dated: April 28, 2015.
Ashwin Vasan,
Chief Information Officer, Bureau of Consumer Financial Protection.
[FR Doc. 2015-10367 Filed 5-1-15; 8:45 am]
 BILLING CODE 4810-AM-P