83 FR 60862 - Agency Information Collection Activities: Proposed Collection Renewal; Comment Request (OMB No. 3064-0161)

FEDERAL DEPOSIT INSURANCE CORPORATION

Federal Register Volume 83, Issue 228 (November 27, 2018)

The FDIC, as part of its obligations under the Paperwork Reduction Act of 1995 (PRA), invites the general public and other Federal agencies to take this opportunity to comment on the renewal of the existing information collection described below (3064-0161).

[Federal Register Volume 83, Number 228 (Tuesday, November 27, 2018)]
[Notices]
[Pages 60862-60863]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-25762]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request (OMB No. 3064-0161)

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, as part of its obligations under the Paperwork 
Reduction Act of 1995 (PRA), invites the general public and other 
Federal agencies to take this opportunity to comment on the renewal of 
the existing information collection described below (3064-0161).

DATES: Comments must be submitted on or before January 28, 2019.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     https://www.FDIC.gov/regulations/laws/federal.
     Email: [email protected]. Include the name and number of 
the collection in the subject line of the message.
     Mail: Jennifer Jones (202-898-6768), Counsel, MB-3105, 
Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, 
DC 20429.
     Hand Delivery: Comments may be hand-delivered to the guard 
station at the rear of the 17th Street Building (located on F Street), 
on business days between 7:00 a.m. and 5:00 p.m.
    All comments should refer to the relevant OMB control number. A 
copy of the comments may also be submitted to the OMB desk officer for 
the FDIC: Office of Information and Regulatory Affairs, Office of 
Management and Budget, New Executive Office Building, Washington, DC 
20503.

FOR FURTHER INFORMATION CONTACT: Jennifer Jones, Counsel, 202-898-6768, 
[email protected], MB-3105, Federal Deposit Insurance Corporation, 550 
17th Street NW, Washington, DC 20429.

SUPPLEMENTARY INFORMATION: 
    Proposal to renew the following currently approved collection of 
information:
    1. Title: Furnisher Information Accuracy and Integrity (FACTA 312).
    OMB Number: 3064-0161.
    Form Number: None.
    Affected Public: State nonmember banks.
    Burden Estimate:

                                                                Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                       Estimated       Estimated                                           Total annual
                                 Type of burden     Obligation to      number of     frequency of     Estimated time      Frequency of       estimated
                                                       respond        respondents      responses       per response         response      burden (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Procedures to Enhance the      Reporting........  Mandatory.......           3,533               1  40 hours.........  Annually.........         141,320
 Accuracy and Integrity of
 Information furnished to
 Consumer Reporting Agencies
 Under Section 312 of the
 Fair and Accurate Credit
 Transaction Act.
Distribution of Notices in     Third-Party        Mandatory.......           3,533               1  14 minutes.......  On Occasion......          16,487
 Response to Direct Disputes.   Disclosure.
                              --------------------------------------------------------------------------------------------------------------------------
    Total Hourly Burden......  .................  ................  ..............  ..............  .................  .................         157,807
--------------------------------------------------------------------------------------------------------------------------------------------------------

    General Description of Collection:
    Sec. 312 of the Fair and Accurate Credit Transaction Act of 2003 
(FACT Act) requires the FDIC to: Issue guidelines for furnishers 
regarding the accuracy and integrity of the information about consumers 
furnished to consumer reporting agencies; prescribe regulations 
requiring furnishers to establish reasonable policies/procedures to 
implement the guidelines; and issue regulations identifying the 
circumstances where a furnisher must reinvestigate a dispute about the 
accuracy of information in a consumer report based on a direct request 
from a consumer.
    There is no change in the method or substance of the collection. 
The overall reduction in burden hours is the result of economic 
fluctuation. In particular, the number of respondents has decreased 
while the hours per response and frequency of responses have remained 
the same.

Request for Comment

    Comments are invited on: (a) Whether the collection of information 
is necessary for the proper performance of the FDIC's functions, 
including whether the information has practical utility; (b) the 
accuracy of the estimates of the burden of the information collection, 
including the validity of the methodology and assumptions used; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the

[[Page 60863]]

burden of the collection of information on respondents, including 
through the use of automated collection techniques or other forms of 
information technology. All comments will become a matter of public 
record.

    Dated at Washington, DC, on November 21, 2018. Federal Deposit 
Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2018-25762 Filed 11-26-18; 8:45 am]
 BILLING CODE 6714-01-P