81 FR 87561 - Agency Information Collection Activities; Submission for OMB Review; Comment Request
FEDERAL TRADE COMMISSION Federal Register Volume 81, Issue 233 (December 5, 2016)
Federal Register Volume 81, Issue 233 (December 5, 2016)
| Page Range | 87561-87562 | |
| FR Document | 2016-29060 |
[Federal Register Volume 81, Number 233 (Monday, December 5, 2016)] [Notices] [Pages 87561-87562] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-29060] ======================================================================= ----------------------------------------------------------------------- FEDERAL TRADE COMMISSION Agency Information Collection Activities; Submission for OMB Review; Comment Request AGENCY: Federal Trade Commission (``FTC''). ACTION: Notice and request for comment. ----------------------------------------------------------------------- SUMMARY: In compliance with the Paperwork Reduction Act (PRA) of 1995, the FTC is seeking public comments on its request to OMB for a three- year extension of the current PRA clearance for the FTC's portion of the information collection requirements contained in the Consumer Financial Protection Bureau's Regulation N (the Mortgage Acts and Practices--Advertising Rule). The FTC shares enforcement of Regulation N with the Consumer Financial Protection Bureau (``CFPB''). This clearance expires on December 31, 2016. DATES: Comments must be received by January 4, 2017. ADDRESSES: Interested parties may file a comment online or on paper, by following the instructions in the Request for Comment part of the SUPPLEMENTARY INFORMATION section below. Write ``Regulation N: FTC File No. P134811; K05'' on your comment, and file your comment online at https://ftcpublic.commentworks.com/ftc/regulationnpra2 by following the instructions on the Web-based form. If you prefer to file your comment on paper, mail or deliver your comment to the following address: Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Avenue NW., Suite CC-5610 (Annex J), Washington, DC 20580, or deliver your comment to the following address: Federal Trade Commission, Office of the Secretary, Constitution Center, 400 7th Street SW., 5th Floor, Suite 5610 (Annex J), Washington, DC 20024. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the proposed information requirements should be addressed to Carole L. Reynolds, Attorney, Division of Financial Practices, Bureau of Consumer Protection, Federal Trade Commission, 600 Pennsylvania Avenue NW., Washington, DC 20580, (202) 326-3230. SUPPLEMENTARY INFORMATION: Title: Mortgage Acts and Practices--Advertising (Regulation N), 12 CFR 1014. OMB Control Number: 3084-0156. Type of Review: Extension of a currently approved collection. Abstract: The FTC's Mortgage Acts and Practices--Advertising Rule, 16 CFR 321, was issued by the FTC on July 19, 2011, at www.ftc.gov, published in the Federal Register, 76 FR 43845, and became effective on August 19, 2011. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) \1\ substantially changed the federal legal framework for financial services providers. Among the changes, the Dodd-Frank Act transferred to the Consumer Financial Protection Bureau (CFPB) the Commission's rulemaking authority under section 626 of the 2009 Omnibus Appropriations Act on July 21, 2011. As a result, the CFPB republished the Mortgage Acts and Practices--Advertising Rule, at 12 CFR 1014, which became effective December 30, 2011. 76 FR 78130. Thereafter, the Commission rescinded its Rule on, and effective, April 13, 2012. 77 FR 22200. Under the Dodd-Frank Act, the FTC retains its authority to bring law enforcement actions to enforce Regulation N.\2\ The FTC and the CFPB share enforcement authority for Regulation N and thus the two agencies share burden estimates \3\ for Regulation N. --------------------------------------------------------------------------- \1\ Public Law 111-203, 124 Stat. 1376 (2010). \2\ The Commission also retained its authority to enforce the Mortgage Acts and Practices--Advertising Rule from the Rule's issuance in July 2011 until the CFPB's republished rule, Regulation N, became effective on December 30, 2011. \3\ The CFPB clearance for their information collections associated with Regulation N was approved by the OMB on September 30, 2015 (OMB Control Number 3170-0009) through September 30, 2018. --------------------------------------------------------------------------- Regulation N's recordkeeping requirements constitute a ``collection of information'' \4\ for purposes of the PRA.\5\ The Rule does not impose a disclosure requirement. --------------------------------------------------------------------------- \4\ Section 1014.5 of the Rule sets forth the recordkeeping requirements. \5\ See 44 U.S.C. 3502(3)(A). --------------------------------------------------------------------------- Regulation N requires covered persons to retain: (1) Copies of materially different commercial communications and related materials, regarding any term of any mortgage credit product, that the person made or disseminated during the relevant time period; (2) documents describing or evidencing all mortgage credit products available to consumers during the relevant time period; and (3) documents describing or evidencing all additional products or services (such as credit insurance or credit disability insurance) that are or may be offered or provided with the mortgage credit products available to consumers during the relevant time period. A failure to keep such records would be an independent violation of the Rule. Commission staff believes these recordkeeping requirements pertain to records that are usual and customary and kept in the ordinary course of business for many covered persons, such as mortgage brokers, lenders, and servicers; real estate brokers and agents; home builders, and advertising agencies.\6\ As to these persons, the retention of these documents does not constitute a ``collection of information,'' as defined by OMB's regulations that implement the PRA.\7\ Certain other covered persons such as lead generators and rate aggregators may not currently maintain these records in the ordinary course of business.\8\ Thus, the [[Page 87562]] recordkeeping requirements for those persons would constitute a ``collection of information.'' --------------------------------------------------------------------------- \6\ Some covered persons, particularly mortgage brokers and lenders, are subject to state recordkeeping requirements for mortgage advertisements. See, e.g., Fla. Stat. 494.00165 (2016); Ind. Code Ann. 23-2-5-18 (2016); Kan. Stat. Ann. 9-2208 (2015); Minn. Stat. 58.14 (2015); Wash. Rev. Code 19.146.060 (2015). Many mortgage brokers, lenders (including finance companies), and servicers are subject to state recordkeeping requirements for mortgage transactions and related documents, and these may include descriptions of mortgage credit products. See, e.g., Mich. Comp. Laws Serv. 445.1671 (2016); N.Y. Banking Law 597 (Consol. 2015); Tenn. Code Ann. 45-13-206 (2015). Lenders and mortgagees approved by the Federal Housing Administration must retain copies of all print and electronic advertisements and promotional materials for a period of two years from the date the materials are circulated or used to advertise. See 24 CFR 202. Various other entities, such as real estate brokers and agents, home builders, and advertising agencies can be indirectly covered by state recordkeeping requirements for mortgage advertisements and/or retain ads to demonstrate compliance with state law. See, e.g., 76 Del. Laws, c. 421, Sec. 1. \7\ See 44 U.S.C. 3502(3)(A); 5 CFR 1320.3(b)(2). \8\ See, e.g., United States v. Intermundo Media, LLC, dba Delta Prime Refinance, No. 1:14-cv-2529 (D. Colo. filed Sept. 12, 2014) (D. Colo. Oct.7, 2014) (stipulated order for permanent injunction and civil penalty judgment), available at https://www.ftc.gov/system/files/documents/cases/140912deltaprimestiporder.pdf. The complaint charged this lead generator with numerous violations of Regulation N, including recordkeeping, and of other federal mortgage advertising mandates. --------------------------------------------------------------------------- The information retained under the Rule's recordkeeping requirements is used by the Commission to substantiate compliance with the Rule and may also provide a basis for the Commission to bring an enforcement action. Without the required records, it would be difficult either to ensure that entities are complying with the Rule's requirements or to bring enforcement actions based on violations of the Rule. On August 31, 2016, the Commission sought comment on the Rule's information collection requirements.\9\ No germane comments were received.\10\ --------------------------------------------------------------------------- \9\ See 81 FR 60001. \10\ The Commission received five non-germane comments, of which one was a duplicate. --------------------------------------------------------------------------- As required by OMB regulations, 5 CFR part 1320, the FTC is providing this second opportunity for public comment. Likely Respondents: Lead generators and rate aggregators. Estimated Annual Hours Burden: 1,500 hours.Derived from 1,000 likely respondents \11\ x approximately 3 hours each respondent per year to do these tasks = 3,000 hours. --------------------------------------------------------------------------- \11\ No general source provides precise numbers of the various categories of covered persons. Commission staff, therefore, has used the following sources and inputs to arrive at this estimated total: 1,000 lead generators and rate aggregators, based on staff's administrative experience. The Commission does not know what percentage of these persons are, in fact, engaged in covered conduct under the Rule, i.e., providing commercial communications about mortgage credit product terms. For purposes of these estimates, the Commission has assumed all of them are covered by the recordkeeping provisions and are not retaining these records in the ordinary course of business. --------------------------------------------------------------------------- Since the FTC shares enforcement authority with the CFPB for Regulation N, the FTC's allotted PRA burden is 1,500 annual hours.\12\ --------------------------------------------------------------------------- \12\ This estimate reflects a decrease in burden compared to prior FTC estimates, because many entities can be indirectly covered by state recordkeeping requirements for mortgage advertisements and/ or retain ads to demonstrate compliance with state law, as discussed above. See supra note 6. The FTC notes that the CFPB's recent information collection filing with OMB for Regulation N also reflects the view that, in large part, most entities either retain records in the ordinary course of business or to demonstrate compliance with other laws. See generally Bureau of Consumer Financial Protection, Agency Information Collection Activities: Submission for OMB Review; Comment Review, 80 FR 45645 (July 31, 2015), available at https://www.thefederalregister.org/fdsys/pkg/FR-2015-07-31/pdf/2015-18809.pdf. --------------------------------------------------------------------------- Estimated Annual Cost Burden: $21,570, which is derived from 1,500 hours x $14.38 per hour.\13\ --------------------------------------------------------------------------- \13\ This estimate is based on mean hourly wages for office support file clerks provided by the Bureau of Labor Statistics. See U.S. Bureau of Labor Statistics, Occupational Employment and Wages-- May 2015, table 1 (``National employment and wage data from the Occupational Employment Statistics survey by occupation''), released Mar. 30, 2016, available at http://www.bls.gov/news.release/pdf/ocwage.pdf. --------------------------------------------------------------------------- Request for Comment You can file a comment online or on paper. For the Commission to consider your comment, we must receive it on or before January 4, 2017. Write ``Regulation N: FTC File No. P134811; K05'' on your comment. Your comment--including your name and your state--will be placed on the public record of this proceeding, including, to the extent practicable, on the public Commission Web site, at http://www.ftc.gov/os/publiccomments.shtm. As a matter of discretion, the Commission tries to remove individuals' home contact information from comments before placing them on the Commission Web site. Because your comment will be made public, you are solely responsible for making sure that your comment does not include any sensitive personal information, such as anyone's Social Security number, date of birth, driver's license number or other state identification number or foreign country equivalent, passport number, financial account number, or credit or debit card number. You are also solely responsible for making sure that your comment does not include any sensitive health information, like medical records or other individually identifiable health information. In addition, do not include any ``[t]rade secret or any commercial or financial information which is . . . privileged or confidential,'' as discussed in Section 6(f) of the FTC Act, 15 U.S.C. 46(f), and FTC Rule 4.10(a)(2), 16 CFR 4.10(a)(2). In particular, do not include competitively sensitive information such as costs, sales statistics, inventories, formulas, patterns, devices, manufacturing processes, or customer names. If you want the Commission to give your comment confidential treatment, you must file it in paper form, with a request for confidential treatment, and you are required to follow the procedure explained in FTC Rule 4.9(c), 16 CFR 4.9(c). Your comment will be kept confidential only if the FTC General Counsel grants your request in accordance with the law and the public interest. Postal mail addressed to the Commission is subject to delay due to heightened security screening. As a result, we encourage you to submit your comment online, or to send it to the Commission by courier or overnight service. To make sure that the Commission considers your online comment, you must file it at https://ftcpublic.commentworks.com/ftc/regulationnpra2, by following the instructions on the web-based form. If this Notice appears at http://www.regulations.gov, you also may file a comment through that Web site. If you file your comment on paper, write ``Regulation N: FTC File No. P134811; K05'' on your comment and on the envelope, and mail or deliver it to the following address: Federal Trade Commission, Office of the Secretary, Room H-113 (Annex J), 600 Pennsylvania Avenue NW., Washington, DC 20580, or deliver your comment to the following address: Federal Trade Commission, Office of the Secretary, Constitution Center, 400 7th Street SW., 5th Floor, Suite 5610 (Annex J), Washington, DC 20024. If possible, submit your paper comment to the Commission by courier or overnight service. Visit the Commission Web site at http://www.ftc.gov to read this Notice. The FTC Act and other laws that the Commission administers permit the collection of public comments to consider and use in this proceeding as appropriate. The Commission will consider all timely and responsive public comments that it receives on or before January 4, 2017. You can find more information, including routine uses permitted by the Privacy Act, in the Commission's privacy policy, at http://www.ftc.gov/ftc/privacy.shtm. Comments on the information collection requirements subject to review under the PRA should also be submitted to OMB. If sent by U.S. mail, address comments to: Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for the Federal Trade Commission, New Executive Office Building, Docket Library, Room 10102, 725 17th Street NW., Washington, DC 20503. Comments sent to OMB by U.S. postal mail, however, are subject to delays due to heightened security precautions. Thus, comments instead should be sent by facsimile to (202) 395-5167. David C. Shonka, Acting General Counsel. [FR Doc. 2016-29060 Filed 12-2-16; 8:45 am] BILLING CODE 6750-01-P
![Federal Register / Vol. 81, No. 233 / Monday, December 5, 2016 / Notices 87561
Georgia, Joseph Cook Stewart, Waycross, 20580, or deliver your comment to the information’’ 4 for purposes of the PRA.5
Georgia, Amy Fletcher, Waycross, Georgia, following address: Federal Trade The Rule does not impose a disclosure
Mary Stewart Weir, Waycross, Georgia, Sara Commission, Office of the Secretary, requirement.
Stewart Cotton, Atlanta, Georgia, Steven Regulation N requires covered
Constitution Center, 400 7th Street SW.,
Collins Cotton, Jr., Atlanta, Georgia, Claire
5th Floor, Suite 5610 (Annex J), persons to retain: (1) Copies of
Morgan Cotton, Atlanta, Georgia, Sam G.
Stewart, Waycross, Georgia, Samuel Gaskin Washington, DC 20024. materially different commercial
Stewart Jr., Waycross, Georgia, Caroline communications and related materials,
FOR FURTHER INFORMATION CONTACT:
Devane Stewart, Waycross, Georgia, Deen J. regarding any term of any mortgage
Requests for additional information or
Stewart, Waycross, Georgia, Deen Jordan credit product, that the person made or
copies of the proposed information
Stewart Jr., Waycross, Georgia, and Courtney disseminated during the relevant time
Nicole Stewart, Waycross, Georgia; to acquire requirements should be addressed to period; (2) documents describing or
as a group voting shares of WB & T Carole L. Reynolds, Attorney, Division evidencing all mortgage credit products
Bankshares Inc., Waycross, Georgia, and of Financial Practices, Bureau of available to consumers during the
thereby own shares of Waycross Bank & Trust Consumer Protection, Federal Trade relevant time period; and (3) documents
in Waycross, Georgia, Guardian Bank, Commission, 600 Pennsylvania Avenue describing or evidencing all additional
Valdosta, Georgia, and South Coast Bank & NW., Washington, DC 20580, (202) 326–
Trust, Brunswick, Georgia. products or services (such as credit
3230. insurance or credit disability insurance)
Board of Governors of the Federal Reserve SUPPLEMENTARY INFORMATION: that are or may be offered or provided
System, November 30, 2016. with the mortgage credit products
Title: Mortgage Acts and Practices—
Yao-Chin Chao, available to consumers during the
Advertising (Regulation N), 12 CFR
Assistant Secretary of the Board. 1014. relevant time period. A failure to keep
[FR Doc. 2016–29092 Filed 12–2–16; 8:45 am]
OMB Control Number: 3084–0156. such records would be an independent
BILLING CODE 6210–01–P violation of the Rule.
Type of Review: Extension of a Commission staff believes these
currently approved collection. recordkeeping requirements pertain to
FEDERAL TRADE COMMISSION Abstract: The FTC’s Mortgage Acts records that are usual and customary
and Practices—Advertising Rule, 16 and kept in the ordinary course of
Agency Information Collection CFR 321, was issued by the FTC on July business for many covered persons,
Activities; Submission for OMB 19, 2011, at www.ftc.gov, published in such as mortgage brokers, lenders, and
Review; Comment Request the Federal Register, 76 FR 43845, and servicers; real estate brokers and agents;
became effective on August 19, 2011. home builders, and advertising
AGENCY: Federal Trade Commission agencies.6 As to these persons, the
The Dodd-Frank Wall Street Reform
(‘‘FTC’’). retention of these documents does not
and Consumer Protection Act of 2010
ACTION: Notice and request for comment. constitute a ‘‘collection of information,’’
(Dodd-Frank Act) 1 substantially
SUMMARY: In compliance with the changed the federal legal framework for as defined by OMB’s regulations that
Paperwork Reduction Act (PRA) of financial services providers. Among the implement the PRA.7 Certain other
changes, the Dodd-Frank Act transferred covered persons such as lead generators
1995, the FTC is seeking public
to the Consumer Financial Protection and rate aggregators may not currently
comments on its request to OMB for a
Bureau (CFPB) the Commission’s maintain these records in the ordinary
three-year extension of the current PRA
rulemaking authority under section 626 course of business.8 Thus, the
clearance for the FTC’s portion of the
information collection requirements of the 2009 Omnibus Appropriations
4 Section 1014.5 of the Rule sets forth the
contained in the Consumer Financial Act on July 21, 2011. As a result, the
recordkeeping requirements.
Protection Bureau’s Regulation N (the CFPB republished the Mortgage Acts 5 See 44 U.S.C. 3502(3)(A).
Mortgage Acts and Practices— and Practices—Advertising Rule, at 12 6 Some covered persons, particularly mortgage
Advertising Rule). The FTC shares CFR 1014, which became effective brokers and lenders, are subject to state
enforcement of Regulation N with the December 30, 2011. 76 FR 78130. recordkeeping requirements for mortgage
Thereafter, the Commission rescinded advertisements. See, e.g., Fla. Stat. 494.00165
Consumer Financial Protection Bureau (2016); Ind. Code Ann. 23–2–5–18 (2016); Kan. Stat.
(‘‘CFPB’’). This clearance expires on its Rule on, and effective, April 13, Ann. 9–2208 (2015); Minn. Stat. 58.14 (2015);
December 31, 2016. 2012. 77 FR 22200. Under the Dodd- Wash. Rev. Code 19.146.060 (2015). Many mortgage
DATES: Comments must be received by Frank Act, the FTC retains its authority brokers, lenders (including finance companies), and
to bring law enforcement actions to servicers are subject to state recordkeeping
January 4, 2017. requirements for mortgage transactions and related
enforce Regulation N.2 The FTC and the documents, and these may include descriptions of
ADDRESSES: Interested parties may file a
CFPB share enforcement authority for mortgage credit products. See, e.g., Mich. Comp.
comment online or on paper, by
Regulation N and thus the two agencies Laws Serv. 445.1671 (2016); N.Y. Banking Law 597
following the instructions in the (Consol. 2015); Tenn. Code Ann. 45–13–206 (2015).
share burden estimates 3 for Regulation
Request for Comment part of the Lenders and mortgagees approved by the Federal
N. Housing Administration must retain copies of all
SUPPLEMENTARY INFORMATION section
below. Write ‘‘Regulation N: FTC File Regulation N’s recordkeeping print and electronic advertisements and
requirements constitute a ‘‘collection of promotional materials for a period of two years
No. P134811; K05’’ on your comment, from the date the materials are circulated or used
and file your comment online at https:// to advertise. See 24 CFR 202. Various other entities,
1 Public Law 111–203, 124 Stat. 1376 (2010). such as real estate brokers and agents, home
ftcpublic.commentworks.com/ftc/
2 The Commission also retained its authority to builders, and advertising agencies can be indirectly
regulationnpra2 by following the
sradovich on DSK3GMQ082PROD with NOTICES
enforce the Mortgage Acts and Practices— covered by state recordkeeping requirements for
instructions on the Web-based form. If Advertising Rule from the Rule’s issuance in July mortgage advertisements and/or retain ads to
you prefer to file your comment on 2011 until the CFPB’s republished rule, Regulation demonstrate compliance with state law. See, e.g., 76
paper, mail or deliver your comment to N, became effective on December 30, 2011. Del. Laws, c. 421, § 1.
3 The CFPB clearance for their information 7 See 44 U.S.C. 3502(3)(A); 5 CFR 1320.3(b)(2).
the following address: Federal Trade
collections associated with Regulation N was 8 See, e.g., United States v. Intermundo Media,
Commission, Office of the Secretary, approved by the OMB on September 30, 2015 (OMB LLC, dba Delta Prime Refinance, No. 1:14–cv–2529
600 Pennsylvania Avenue NW., Suite Control Number 3170–0009) through September 30, (D. Colo. filed Sept. 12, 2014) (D. Colo. Oct.7, 2014)
CC–5610 (Annex J), Washington, DC 2018. Continued
VerDate Sep<11>2014 19:12 Dec 02, 2016 Jkt 241001 PO 00000 Frm 00032 Fmt 4703 Sfmt 4703 E:\FR\FM\05DEN1.SGM 05DEN1](https://thefederalregister.org/doc/81_FR_87794/page/1.svg)
![87562 Federal Register / Vol. 81, No. 233 / Monday, December 5, 2016 / Notices
recordkeeping requirements for those Estimated Annual Cost Burden: Postal mail addressed to the
persons would constitute a ‘‘collection $21,570, which is derived from 1,500 Commission is subject to delay due to
of information.’’ hours × $14.38 per hour.13 heightened security screening. As a
The information retained under the result, we encourage you to submit your
Request for Comment
Rule’s recordkeeping requirements is comment online, or to send it to the
used by the Commission to substantiate You can file a comment online or on Commission by courier or overnight
compliance with the Rule and may also paper. For the Commission to consider service. To make sure that the
provide a basis for the Commission to your comment, we must receive it on or Commission considers your online
bring an enforcement action. Without before January 4, 2017. Write comment, you must file it at https://
the required records, it would be ‘‘Regulation N: FTC File No. P134811; ftcpublic.commentworks.com/ftc/
difficult either to ensure that entities are K05’’ on your comment. Your regulationnpra2, by following the
complying with the Rule’s requirements comment—including your name and instructions on the web-based form. If
or to bring enforcement actions based on your state—will be placed on the public this Notice appears at http://
violations of the Rule. record of this proceeding, including, to www.regulations.gov, you also may file
On August 31, 2016, the Commission the extent practicable, on the public a comment through that Web site.
sought comment on the Rule’s Commission Web site, at http:// If you file your comment on paper,
information collection requirements.9 www.ftc.gov/os/publiccomments.shtm. write ‘‘Regulation N: FTC File No.
No germane comments were received.10 As a matter of discretion, the P134811; K05’’ on your comment and
As required by OMB regulations, 5 Commission tries to remove individuals’ on the envelope, and mail or deliver it
CFR part 1320, the FTC is providing this home contact information from to the following address: Federal Trade
second opportunity for public comment. comments before placing them on the Commission, Office of the Secretary,
Likely Respondents: Lead generators Commission Web site. Room H–113 (Annex J), 600
and rate aggregators. Because your comment will be made Pennsylvania Avenue NW., Washington,
Estimated Annual Hours Burden: public, you are solely responsible for DC 20580, or deliver your comment to
1,500 hours. making sure that your comment does the following address: Federal Trade
• Derived from 1,000 likely not include any sensitive personal Commission, Office of the Secretary,
respondents 11 × approximately 3 hours information, such as anyone’s Social Constitution Center, 400 7th Street SW.,
each respondent per year to do these Security number, date of birth, driver’s 5th Floor, Suite 5610 (Annex J),
tasks = 3,000 hours. license number or other state Washington, DC 20024. If possible,
• Since the FTC shares enforcement identification number or foreign country submit your paper comment to the
authority with the CFPB for Regulation equivalent, passport number, financial Commission by courier or overnight
N, the FTC’s allotted PRA burden is account number, or credit or debit card service.
1,500 annual hours.12 number. You are also solely responsible Visit the Commission Web site at
for making sure that your comment does http://www.ftc.gov to read this Notice.
(stipulated order for permanent injunction and civil not include any sensitive health The FTC Act and other laws that the
penalty judgment), available at https://www.ftc.gov/ information, like medical records or Commission administers permit the
system/files/documents/cases/ other individually identifiable health
140912deltaprimestiporder.pdf. The complaint collection of public comments to
charged this lead generator with numerous information. In addition, do not include consider and use in this proceeding as
violations of Regulation N, including any ‘‘[t]rade secret or any commercial or appropriate. The Commission will
recordkeeping, and of other federal mortgage financial information which is . . . consider all timely and responsive
advertising mandates. privileged or confidential,’’ as discussed
9 See 81 FR 60001. public comments that it receives on or
10 The Commission received five non-germane
in Section 6(f) of the FTC Act, 15 U.S.C. before January 4, 2017. You can find
comments, of which one was a duplicate. 46(f), and FTC Rule 4.10(a)(2), 16 CFR more information, including routine
11 No general source provides precise numbers of 4.10(a)(2). In particular, do not include uses permitted by the Privacy Act, in
the various categories of covered persons. competitively sensitive information the Commission’s privacy policy, at
Commission staff, therefore, has used the following such as costs, sales statistics,
sources and inputs to arrive at this estimated total: http://www.ftc.gov/ftc/privacy.shtm.
inventories, formulas, patterns, devices,
1,000 lead generators and rate aggregators, based on Comments on the information
staff’s administrative experience. The Commission manufacturing processes, or customer
collection requirements subject to
does not know what percentage of these persons names.
are, in fact, engaged in covered conduct under the review under the PRA should also be
If you want the Commission to give
Rule, i.e., providing commercial communications submitted to OMB. If sent by U.S. mail,
your comment confidential treatment,
about mortgage credit product terms. For purposes address comments to: Office of
of these estimates, the Commission has assumed all you must file it in paper form, with a
Information and Regulatory Affairs,
of them are covered by the recordkeeping request for confidential treatment, and
provisions and are not retaining these records in the Office of Management and Budget,
you are required to follow the procedure
ordinary course of business. Attention: Desk Officer for the Federal
explained in FTC Rule 4.9(c), 16 CFR
12 This estimate reflects a decrease in burden Trade Commission, New Executive
compared to prior FTC estimates, because many 4.9(c). Your comment will be kept
Office Building, Docket Library, Room
entities can be indirectly covered by state confidential only if the FTC General
10102, 725 17th Street NW.,
recordkeeping requirements for mortgage Counsel grants your request in
advertisements and/or retain ads to demonstrate Washington, DC 20503. Comments sent
accordance with the law and the public
compliance with state law, as discussed above. See to OMB by U.S. postal mail, however,
supra note 6. The FTC notes that the CFPB’s recent interest.
are subject to delays due to heightened
information collection filing with OMB for
sradovich on DSK3GMQ082PROD with NOTICES
Regulation N also reflects the view that, in large 13 This estimate is based on mean hourly wages security precautions. Thus, comments
part, most entities either retain records in the for office support file clerks provided by the Bureau instead should be sent by facsimile to
ordinary course of business or to demonstrate of Labor Statistics. See U.S. Bureau of Labor (202) 395–5167.
compliance with other laws. See generally Bureau Statistics, Occupational Employment and Wages—
of Consumer Financial Protection, Agency May 2015, table 1 (‘‘National employment and wage David C. Shonka,
Information Collection Activities: Submission for data from the Occupational Employment Statistics Acting General Counsel.
OMB Review; Comment Review, 80 FR 45645 (July survey by occupation’’), released Mar. 30, 2016,
31, 2015), available at https://www.gpo.gov/fdsys/ available at http://www.bls.gov/news.release/pdf/ [FR Doc. 2016–29060 Filed 12–2–16; 8:45 am]
pkg/FR-2015-07-31/pdf/2015-18809.pdf. ocwage.pdf. BILLING CODE 6750–01–P
VerDate Sep<11>2014 19:12 Dec 02, 2016 Jkt 241001 PO 00000 Frm 00033 Fmt 4703 Sfmt 9990 E:\FR\FM\05DEN1.SGM 05DEN1](https://thefederalregister.org/doc/81_FR_87794/page/2.svg)
Document Created: 2016-12-03 00:25:59
Document Modified: 2016-12-03 00:25:59
| 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 | Comments must be received by January 4, 2017. | |
| Contact | Requests for additional information or | |
| FR Citation | 81 FR 87561 |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR