80 FR 73734 - Agency Information Collection Activities: Submission for OMB Review; Comment Request
BUREAU OF CONSUMER FINANCIAL PROTECTION Federal Register Volume 80, Issue 227 (November 25, 2015)
Federal Register Volume 80, Issue 227 (November 25, 2015)
| Page Range | 73734-73734 | |
| FR Document | 2015-30042 |
[Federal Register Volume 80, Number 227 (Wednesday, November 25, 2015)] [Notices] [Page 73734] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-30042] [[Page 73734]] ======================================================================= ----------------------------------------------------------------------- BUREAU OF CONSUMER FINANCIAL PROTECTION [Docket No. CFPB-2015-0053] 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 Consumer Financial Protection Bureau (CFPB) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``High-Cost Mortgage and Homeownership Counseling Amendments to the Truth in Lending Act (Regulation Z).'' DATES: Written comments are encouraged and must be received on or before December 28, 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: High-Cost Mortgage and Homeownership Counseling Amendments to the Truth in Lending Act (Regulation Z). OMB Control Number: 3170-0023. Type of Review: Extension without change of a currently approved collection. Affected Public: Private Sector (Businesses and other for- and non- profit institutions). Estimated Number of Respondents: 55. Estimated Total Annual Burden Hours: 12. Abstract: The Truth in Lending Act (TILA), 15 U.S.C. 1601 et seq., was enacted to foster comparison credit shopping and informed credit decision making by requiring accurate disclosure of the costs and terms of credit to consumers. Creditors are subject to disclosure and other requirements that apply to open-end credit (e.g., revolving credit or credit lines) and closed-end credit (e.g., installment financing). TILA imposes disclosure requirements on all types of creditors in connection with consumer credit, including mortgage companies, finance companies, retailers, and credit card issuers, to ensure that consumers are fully apprised of the terms of financing prior to consummation of the transaction and, in some instances, during the loan term. It also imposes advertising disclosure requirements on advertisers of consumer credit. TILA also establishes billing error resolution procedures for open-end credit and limits consumer liability for the unauthorized use of credit cards. An amendment to TILA, the Home Ownership and Equity Protection Act (HOEPA), imposes, among other things, various disclosure and other requirements on certain creditors offering high-cost mortgages to consumers. The Bureau promulgated its Regulation Z to implement TILA, as required by the statute. The Bureau enforces TILA as to certain creditors and advertisers. TILA also contains a private right of action for consumers and provides enhanced remedies to consumers in high-cost mortgages for violations of HOEPA. Request for Comments: The Bureau issued a 60-day Federal Register notice on September 14, 2015 (80 FR 55100). 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 OMB approval. All comments will become a matter of public record. Dated: November 19, 2015. Darrin A. King, Paperwork Reduction Act Officer, Bureau of Consumer Financial Protection. [FR Doc. 2015-30042 Filed 11-24-15; 8:45 am] BILLING CODE 4810-AM-P
![73734 Federal Register / Vol. 80, No. 227 / Wednesday, November 25, 2015 / Notices
BUREAU OF CONSUMER FINANCIAL DC 20552, (202) 435–9575, or email: functions of the Bureau, including
PROTECTION PRA@cfpb.gov. Please do not submit whether the information will have
comments to this email box. practical utility; (b) The accuracy of the
[Docket No. CFPB–2015–0053]
SUPPLEMENTARY INFORMATION: Bureau’s estimate of the burden of the
Agency Information Collection Title of Collection: High-Cost collection of information, including the
Activities: Submission for OMB Mortgage and Homeownership validity of the methods and the
Review; Comment Request Counseling Amendments to the Truth in assumptions used; (c) Ways to enhance
Lending Act (Regulation Z). the quality, utility, and clarity of the
AGENCY: Bureau of Consumer Financial OMB Control Number: 3170–0023. information to be collected; and (d)
Protection. Type of Review: Extension without Ways to minimize the burden of the
ACTION: Notice and request for comment. change of a currently approved collection of information on
collection. respondents, including through the use
SUMMARY: In accordance with the Affected Public: Private Sector of automated collection techniques or
Paperwork Reduction Act of 1995 (Businesses and other for- and non- other forms of information technology.
(PRA), the Consumer Financial profit institutions). Comments submitted in response to this
Protection Bureau (CFPB) is requesting Estimated Number of Respondents: notice will be summarized and/or
to renew the Office of Management and 55. included in the request for OMB
Budget (OMB) approval for an existing Estimated Total Annual Burden approval. All comments will become a
information collection titled, ‘‘High-Cost Hours: 12. matter of public record.
Mortgage and Homeownership Abstract: The Truth in Lending Act Dated: November 19, 2015.
Counseling Amendments to the Truth in (TILA), 15 U.S.C. 1601 et seq., was
Lending Act (Regulation Z).’’ Darrin A. King,
enacted to foster comparison credit Paperwork Reduction Act Officer, Bureau of
DATES: Written comments are shopping and informed credit decision Consumer Financial Protection.
encouraged and must be received on or making by requiring accurate disclosure [FR Doc. 2015–30042 Filed 11–24–15; 8:45 am]
before December 28, 2015 to be assured of the costs and terms of credit to BILLING CODE 4810–AM–P
of consideration. consumers. Creditors are subject to
ADDRESSES: You may submit comments, disclosure and other requirements that
identified by the title of the information apply to open-end credit (e.g., revolving BUREAU OF CONSUMER FINANCIAL
collection, OMB Control Number (see credit or credit lines) and closed-end PROTECTION
below), and docket number (see above), credit (e.g., installment financing). TILA
by any of the following methods: imposes disclosure requirements on all [Docket No: CFPB–2015–0049]
• Electronic: http:// types of creditors in connection with
www.regulations.gov. Follow the consumer credit, including mortgage Agency Information Collection
instructions for submitting comments. companies, finance companies, retailers, Activities: Comment Request
• OMB: Office of Management and and credit card issuers, to ensure that
Budget, New Executive Office Building, consumers are fully apprised of the AGENCY: Bureau of Consumer Financial
Room 10235, Washington, DC 20503 or terms of financing prior to Protection.
fax to (202) 395–5806. Mailed or faxed consummation of the transaction and, in ACTION: Notice and request for comment.
comments to OMB should be to the some instances, during the loan term. It
attention of the OMB Desk Officer for also imposes advertising disclosure SUMMARY: In accordance with the
the Bureau of Consumer Financial requirements on advertisers of Paperwork Reduction Act of 1995
Protection. Please note that comments consumer credit. TILA also establishes (PRA), the Consumer Financial
submitted after the comment period will billing error resolution procedures for Protection Bureau (Bureau) is requesting
not be accepted. In general, all open-end credit and limits consumer to renew the Office of Management and
comments received will become public liability for the unauthorized use of Budget (OMB) approval for an existing
records, including any personal credit cards. information collection titled, ‘‘Equal
information provided. Sensitive An amendment to TILA, the Home Credit Opportunity Act (Regulation B)
personal information, such as account Ownership and Equity Protection Act 12 CFR 1002.’’
numbers or social security numbers, (HOEPA), imposes, among other things, DATES: Written comments are
should not be included. various disclosure and other encouraged and must be received on or
FOR FURTHER INFORMATION CONTACT: requirements on certain creditors before January 25, 2016 to be assured of
Documentation prepared in support of offering high-cost mortgages to consideration.
this information collection request is consumers. The Bureau promulgated its ADDRESSES: You may submit comments,
available at www.reginfo.gov (this link Regulation Z to implement TILA, as identified by the title of the information
active on the day following publication required by the statute. The Bureau collection, OMB Control Number (see
of this notice). Select ‘‘Information enforces TILA as to certain creditors and below), and docket number (see above),
Collection Review,’’ under ‘‘Currently advertisers. TILA also contains a private by any of the following methods:
under review, use the dropdown menu right of action for consumers and • Electronic: http://
‘‘Select Agency’’ and select ‘‘Consumer provides enhanced remedies to www.regulations.gov. Follow the
Financial Protection Bureau’’ (recent consumers in high-cost mortgages for instructions for submitting comments.
submissions to OMB will be at the top violations of HOEPA. • Mail: Consumer Financial
tkelley on DSK3SPTVN1PROD with NOTICES
of the list). The same documentation is Request for Comments: The Bureau Protection Bureau (Attention: PRA
also available at http:// issued a 60-day Federal Register notice Office), 1700 G Street NW., Washington,
www.regulations.gov. Requests for on September 14, 2015 (80 FR 55100). DC 20552.
additional information should be Comments were solicited and continue • Hand Delivery/Courier: Consumer
directed to the Consumer Financial to be invited on: (a) Whether the Financial Protection Bureau (Attention:
Protection Bureau, (Attention: PRA collection of information is necessary PRA Office), 1275 First Street NE.,
Office), 1700 G Street NW., Washington, for the proper performance of the Washington, DC 20002.
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Document Created: 2018-03-01 11:15:28
Document Modified: 2018-03-01 11:15:28
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice and request for comment. | |
| Dates | Written comments are encouraged and must be received on or before December 28, 2015 to be assured of consideration. | |
| 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. | |
| FR Citation | 80 FR 73734 |
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