81 FR 38691 - Agency Information Collection Activities: Comment Request

BUREAU OF CONSUMER FINANCIAL PROTECTION

Federal Register Volume 81, Issue 114 (June 14, 2016)

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 (OMB) approval for an existing information collection titled, ``Truth in Savings (Regulation DD) 12 CFR 1030.''

[Federal Register Volume 81, Number 114 (Tuesday, June 14, 2016)]
[Notices]
[Page 38691]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-14025]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No: CFPB-2016-0031]


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 Bureau of Consumer Financial Protection (Bureau) is requesting to 
renew the Office of Management and Budget (OMB) approval for an 
existing information collection titled, ``Truth in Savings (Regulation 
DD) 12 CFR 1030.''

DATES: Written comments are encouraged and must be received on or 
before August 15, 2016 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: 
    Title of Collection: Truth in Savings (Regulation DD) 12 CFR 1030.
    OMB Control Number: 3170-0004.
    Type of Review: Extension without change of a currently approved 
collection.
    Affected Public: Private sector (non-credit union depository 
institutions).
    Estimated Number of Respondents: 129.
    Estimated Total Annual Burden Hours: 573,008.
    Abstract: Consumers rely on the disclosures required by The Truth 
in Savings Act (TISA) and Regulation DD to facilitate informed 
decision-making regarding deposit accounts offered at depository 
institutions. Without this information, consumers would be severely 
hindered in their ability to assess the true costs and terms of the 
deposit accounts offered. Federal agencies and private litigants use 
the records to ascertain whether accurate and complete disclosures of 
depository accounts have been provided to consumers. This information 
also provides the primary evidence of law violations in TISA 
enforcement actions brought by the Bureau. Without the Regulation DD 
recordkeeping requirement, the Bureau's ability to enforce TISA 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 OMB 
approval. All comments will become a matter of public record.

    Dated: June 7, 2016.
Darrin A. King,
Paperwork Reduction Act Officer, Bureau of Consumer Financial 
Protection.
[FR Doc. 2016-14025 Filed 6-13-16; 8:45 am]
 BILLING CODE 4810-AM-P