80 FR 43761 - 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, to revise an existing information collection, titled, ``Gramm-Leach-Bliley Act (Regulation P) 12 CFR 1016.''

[Federal Register Volume 80, Number 141 (Thursday, July 23, 2015)]
[Notices]
[Pages 43761-43762]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-18016]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No: CFPB-2015-0032]


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, to revise an existing information collection, 
titled, ``Gramm-Leach-Bliley Act (Regulation P) 12 CFR 1016.''

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 
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: Gramm-Leach-Bliley Act (Regulation P) 12 CFR 
1016.
    OMB Control Number: 3170-0010.
    Type of Review: Extension without change of an existing approved 
information collection.
    Affected Public: Businesses and other for-profit institutions.
    Estimated Number of Respondents: 29,544.
    Estimated Total Annual Burden Hours: 366,134.
    Abstract: Section 502 of the Gramm-Leach-Bliley Act (GLBA) (Pub. L. 
106-102) generally prohibits a financial institution from sharing 
nonpublic personal information about a consumer with nonaffiliated 
third parties unless the institution satisfies various disclosure 
requirements (including provision of initial privacy notices, annual 
notices, notices of revisions to the institution's privacy policy, and 
opt-out notices) and the consumer has not elected to opt out of the 
information sharing. The Bureau promulgated regulation P 12 CFR 1016 to 
implement the GLBA's notice requirements and restrictions on a 
financial institution's ability to disclose nonpublic personal 
information about consumers to nonaffiliated third parties.
    Request For Comments: The Bureau issued a 60-day Federal Register 
notice on May 7th, 2015, 80 FR 26234. 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

[[Page 43762]]

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. Powel,
Chief Data Officer, Bureau of Consumer Financial Protection.
[FR Doc. 2015-18016 Filed 7-22-15; 8:45 am]
 BILLING CODE 4810-AM-P