81 FR 8180 - Agency Information Collection Activities: Submission for OMB Review; Comment Request

BUREAU OF CONSUMER FINANCIAL PROTECTION

Federal Register Volume 81, Issue 32 (February 18, 2016)

In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection, titled, ``Loan Originator Compensation Amendment (Regulation Z).''

[Federal Register Volume 81, Number 32 (Thursday, February 18, 2016)]
[Notices]
[Page 8180]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-03424]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No: CFPB-2016-0006]


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 requesting to 
renew the Office of Management and Budget (OMB) approval for an 
existing information collection, titled, ``Loan Originator Compensation 
Amendment (Regulation Z).''

DATES: Written comments are encouraged and must be received on or 
before March 21, 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.
     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: Loan Originator Compensation Amendment 
(Regulation Z).
    OMB Control Number: 3170-0031.
    Type of Review: Extension without change of a currently approved 
collection.
    Affected Public: Private sector.
    Estimated Number of Respondents: 8,254.
    Estimated Total Annual Burden Hours: 94,635.
    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. The Dodd-Frank Act then amended TILA to 
include, among other things, provisions about the qualifications and 
compensation of mortgage loan officers, in order to ensure consumers 
are getting a fair deal on their loans.
    Request for Comments: The Bureau issued a 60-day Federal Register 
notice on December 9, 2015 (80 FR 76459). 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: February 11, 2016.
Darrin A. King,
Paperwork Reduction Act Officer, Bureau of Consumer Financial 
Protection.
[FR Doc. 2016-03424 Filed 2-17-16; 8:45 am]
 BILLING CODE 4810-AM-P