80 FR 43760 - Agency Information Collection Activities: Submission for OMB Review; Comment Request

BUREAU OF CONSUMER FINANCIAL PROTECTION

Federal Register Volume 80, Issue 141 (July 23, 2015)

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

[Federal Register Volume 80, Number 141 (Thursday, July 23, 2015)]
[Notices]
[Pages 43760-43761]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-18014]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No: CFPB-2015-0033]


Agency Information Collection Activities: Submission for OMB 
Review; 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 proposing to renew 
the Office of Management and Budget (OMB) 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 August 24, 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.
     OMB: Office of Management and Budget, New Executive Office 
Building, Room 10235, Washington, DC 20503 or fax to (202) 395-5806. 
Mailed or faxed comments to OMB should be to the attention of the OMB 
Desk Officer for the Bureau of Consumer Financial Protection.
    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

[[Page 43761]]

this information collection request is available at www.reginfo.gov 
(this link 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 http://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 email box.

SUPPLEMENTARY INFORMATION: 
    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: 5,018.
    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: The Bureau issued a 60-day Federal Register 
notice on May 4, 2015 (80 FR 25281). 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 
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: July 17, 2015.
Linda F. Powell,
Chief Data Officer, Bureau of Consumer Financial Protection.
[FR Doc. 2015-18014 Filed 7-22-15; 8:45 am]
 BILLING CODE 4810-AM-P