Agency Information Collection Activities; Proposed Collection; Comment Request; Extension, 11108-11110 [2014-04235]
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11108
Federal Register / Vol. 79, No. 39 / Thursday, February 27, 2014 / Notices
for TDD Relay/1–800–877–8339 for toll
free.
Emogene Johnson,
Administrative Assistant.
[FR Doc. 2014–04491 Filed 2–25–14; 4:15 pm]
BILLING CODE 6735–01–P
FEDERAL MINE SAFETY AND HEALTH
REVIEW COMMISSION
Sunshine Act Notice
February 24, 2014.
2:00 p.m., Thursday,
March 6, 2014.
PLACE: The Richard V. Backley Hearing
Room, Room 511N, 1331 Pennsylvania
Avenue NW., Washington, DC 20004
(entry from F Street entrance).
STATUS: Open.
MATTERS TO BE CONSIDERED: The
Commission will consider and act upon
the following in open session: Secretary
of Labor v. Twentymile Coal Co., Docket
Nos. WEST 2009–241, et al., and
Secretary of Labor v. Twentymile Coal
Co., Docket Nos. WEST 2009–1323, et
al. (Issues include whether the
Administrative Law Judge erred in
affirming citations for failing to provide
additional insulation for a
communications circuit.) Public
meetings in these matters have twice
been postponed because of severe
weather problems.
Any person attending this meeting
who requires special accessibility
features and/or auxiliary aids, such as
sign language interpreters, must inform
the Commission in advance of those
needs. Subject to 29 CFR 2706.150(a)(3)
and 2706.160(d).
CONTACT PERSON FOR MORE INFO: Jean
Ellen (202) 434–9950/(202) 708–9300
for TDD Relay/1–800–877–8339 for toll
free.
TIME AND DATE:
Emogene Johnson,
Administrative Assistant.
the power to vote shares of a bank or
bank holding company and all of the
banks and nonbanking companies
owned by the bank holding company,
including the companies listed below.
The applications listed below, as well
as other related filings required by the
Board, are available for immediate
inspection at the Federal Reserve Bank
indicated. The applications will also be
available for inspection at the offices of
the Board of Governors. Interested
persons may express their views in
writing on the standards enumerated in
the BHC Act (12 U.S.C. 1842(c)). If the
proposal also involves the acquisition of
a nonbanking company, the review also
includes whether the acquisition of the
nonbanking company complies with the
standards in section 4 of the BHC Act
(12 U.S.C. 1843). Unless otherwise
noted, nonbanking activities will be
conducted throughout the United States.
Unless otherwise noted, comments
regarding each of these applications
must be received at the Reserve Bank
indicated or the offices of the Board of
Governors not later than March 24,
2014.
A. Federal Reserve Bank of St. Louis
(Yvonne Sparks, Community
Development Officer) P.O. Box 442, St.
Louis, Missouri 63166–2034:
1. BancorpSouth, Inc., Tupelo,
Mississippi; to merge with Ouachita
Bancshares Corporation and thereby
indirectly acquire Ouachita
Independent Bank, both in Monroe,
Louisiana.
2. Bear State Financial Holdings, LLC,
Little Rock, Arkansas and First Federal
Bancshares of Arkansas, Inc., Harrison,
Arkansas; to become bank holding
companies by acquiring 100 percent of
the voting shares of First National
Security Company, Hot Springs,
Arkansas, and thereby indirectly acquire
Heritage Bank, N.A., Jonesboro,
Arkansas, and First National Bank, Hot
Springs, Arkansas.
BILLING CODE 6735–01–P
Board of Governors of the Federal Reserve
System, February 24, 2014.
Michael J. Lewandowski,
Associate Secretary of the Board.
FEDERAL RESERVE SYSTEM
[FR Doc. 2014–04272 Filed 2–26–14; 8:45 am]
[FR Doc. 2014–04492 Filed 2–25–14; 4:15 pm]
BILLING CODE 6210–01–P
mstockstill on DSK4VPTVN1PROD with NOTICES
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies
The companies listed in this notice
have applied to the Board for approval,
pursuant to the Bank Holding Company
Act of 1956 (12 U.S.C. 1841 et seq.)
(BHC Act), Regulation Y (12 CFR part
225), and all other applicable statutes
and regulations to become a bank
holding company and/or to acquire the
assets or the ownership of, control of, or
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17:58 Feb 26, 2014
Jkt 232001
FEDERAL TRADE COMMISSION
Agency Information Collection
Activities; Proposed Collection;
Comment Request; Extension
Federal Trade Commission
(‘‘FTC’’ or ‘‘Commission’’).
ACTION: Notice.
AGENCY:
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The FTC intends to ask the
Office of Management and Budget
(‘‘OMB’’) to extend for an additional
three years the current Paperwork
Reduction Act (‘‘PRA’’) clearance for the
FTC’s enforcement of the information
collection requirements in its ‘‘Fair
Credit Reporting Risk-Based Pricing
Regulations’’ (‘‘RBP Rule’’), which
applies to certain motor vehicle dealers,
and its shared enforcement with the
Consumer Financial Protection Bureau
(‘‘CFPB’’) of the risk-based pricing
provisions (subpart H) of the CFPB’s
Regulation V regarding other entities.
That clearance expires on August 31,
2014.
DATES: Comments must be filed by April
28, 2014.
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 ‘‘RBP Rule, PRA Comment,
P145403,’’ on your comment and file
your comment online at https://
ftcpublic.commentworks.com/ftc/
rbprulepra 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, Room H–113
(Annex J), 600 Pennsylvania Avenue
NW., Washington, DC 20580.
FOR FURTHER INFORMATION CONTACT:
Katherine White, Attorney, Division of
Privacy and Identity Protection, Bureau
of Consumer Protection, (202) 326–
2878, 600 Pennsylvania Ave. NW.,
Room NJ–3158, Washington, DC 20580.
SUPPLEMENTARY INFORMATION: On July
21, 2010, President Obama signed into
law the Dodd-Frank Wall Street Reform
and Consumer Protection Act (‘‘DoddFrank Act’’).1 The Dodd-Frank Act
substantially changed the federal legal
framework for financial services
providers. Among the changes, the
Dodd-Frank Act transferred to the CFPB
most of the FTC’s rulemaking authority
for the risk-based pricing provisions of
the Fair Credit Reporting Act
(‘‘FCRA’’),2 on July 21, 2011.3
The FTC retains rulemaking authority
for the RBP Rule solely for motor
vehicle dealers described in section
1029(a) of the Dodd-Frank Act that are
SUMMARY:
1 Public
Law 111–203, 124 Stat. 1376 (2010).
U.S.C. 1681 et seq.
3 Dodd-Frank Act, § 1061. This date was the
‘‘designated transfer date’’ established by the
Treasury Department under the Dodd-Frank Act.
See Dep’t of the Treasury, Bureau of Consumer
Financial Protection; Designated Transfer Date, 75
FR 57252, 57253 (Sept. 20, 2010); see also DoddFrank Act, § 1062.
2 15
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Federal Register / Vol. 79, No. 39 / Thursday, February 27, 2014 / Notices
predominantly engaged in the sale and
servicing of motor vehicles, the leasing
and servicing of motor vehicles, or
both.4
In addition, the FTC retains its
authority to enforce the risk-based
pricing provisions of the FCRA and the
FTC and CFPB rules issued under those
provisions. Thus, the FTC and CFPB
have overlapping enforcement authority
for many entities subject to the CFPB
rule and the FTC has sole enforcement
authority for the motor vehicle dealers
subject to the FTC rule.
On December 21, 2011, the CFPB
issued its interim final FCRA rule,
including the risk-based pricing
provisions (subpart H) of CFPB’s
Regulation V.5 Contemporaneous with
that issuance, the CFPB and FTC had
each submitted to OMB, and received its
approval for, the agencies’ respective
burden estimates reflecting their
overlapping enforcement jurisdiction,
with the FTC supplementing its
estimates for the enforcement authority
exclusive to it regarding the class of
motor vehicle dealers noted above. The
discussion below continues that
analytical framework, as appropriately
updated or otherwise refined for instant
purposes.
Burden statement: Under the PRA, 44
U.S.C. 3501–3521, Federal agencies
must get OMB approval for each
collection of information they conduct
or sponsor. ‘‘Collection of information’’
includes agency requests or
requirements to submit reports, keep
records, or provide information to a
third party. 44 U.S.C. 3502(3); 5 CFR
1320.3(c). The FTC is seeking clearance
for its assumed share of the estimated
PRA burden regarding the disclosure
requirements under the FTC and CFPB
Rules.
Under §§ 640.3–640.4 of the FTC’s
RBP Rule 6 and §§ 1022.72–1022.73 of
the CFPB Rule,7 a creditor must provide
a risk-based pricing notice to a
consumer when the creditor uses a
consumer report to grant or extend
credit to the consumer on material terms
that are materially less favorable than
the most favorable terms available to a
substantial proportion of consumers
from or through that creditor.
Additionally, these provisions require
disclosure of credit scores and
information relating to credit scores in
risk-based pricing notices if a credit
score of the consumer is used in setting
the material terms of credit.
4 See
Dodd-Frank Act, § 1029(a), (c).
5 76 FR 79308 (Dec. 21, 2011).
6 16 CFR 640.3, –640.4.
7 12 CFR 1022.72, –1022.73.
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The FTC’s currently cleared burden
totals, post-adjustment for the effects of
the Dodd-Frank Act, are 13,319,471
hours.8 The past burden analysis,
however, was tied to the inception of
the Rule and its later amendments, and
included one-time burdens attributable
to implementation. The FTC’s updated
estimate of burden hours reflects solely
the recurring burden of complying with
the Rule.
Using the currently cleared estimates
(post-adjustment for the effects of the
Dodd-Frank Act) for the number of
applicable motor vehicle dealers and
their assumed recurring disclosure
burdens, in addition to the estimated
number of and burden for other entities
over which the FTC shares enforcement
burden with the CFPB, the FTC
proposes the following:
A. Estimated number of respondents:
160,875.9
B. Burden Hours: 9,652,500.
Yearly recurring burden of 60 hours
per respondent 10 to modify and
distribute notices × 160,875 respondents
= 9,652,500 hours, cumulatively.
C. Labor Costs: $171,331,875.
Labor costs are derived by applying
appropriate estimated hourly cost
figures to the burden hours described
above. The FTC assumes that
8 OMB
Control No. 3084–0145.
estimate derives in part from an analysis
of the figures obtained from the North American
Industry Classification System (NAICS)
Association’s database of U.S. businesses. See
https://www.naics.com/search.htm. Commission
staff identified categories of entities under its
jurisdiction that also directly provide credit to
consumers. Those categories include retail, vehicle
dealers, consumer lenders, and utilities. The
estimate also includes state-chartered credit unions,
which are subject to the Commission’s jurisdiction.
See 15 U.S.C. 1681s. For the latter category,
Commission staff relied on estimates from the
Credit Union National Association for the number
of non-federal credit unions. See https://
www.ncua.gov/Legal/Documents/Reports/
AR2012.pdf. For purposed of estimating the burden,
Commission staff made the conservative
assumption that all of the included entities engage
in risk-based pricing. The resulting tally of entities
numbered 199,500. From this amount, the FTC
deducted an estimated portion attributable to motor
vehicle dealers in order to calculate a net amount
in which to split evenly with the CFPB for the
remaining number of respondents for purposes of
estimating the FTC’s overall share of PRA burden.
The FTC estimated there were 122,250 motor
vehicle dealers, determined as follows: 111,136 car
dealers per NAICS data (57,535 new car dealers,
53,601 used car dealers) + 10% add-on
approximation for other motor vehicle types
(motorbikes, boats, other recreational). Excluding
the estimated number of motor vehicle dealers,
122,250, from the estimated overall number of
affected entities, 199,500, leaves 77,250 as the
number of respondents for the agencies’ 50:50
apportionment: 77,250, i.e., about 38,625 each.
Thus, for the FTC, the estimated number of
respondents for its calculations is 160,875 (122,250
+ 38,625).
10 Assumption: 5 hours per month per
respondent.
9 This
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11109
respondents will use correspondence
clerks, at a mean hourly wage of
$17.75,11 to modify and distribute
notices to consumers, for a cumulative
labor cost total of $171,331,875.
D. Capital/Non-Labor Costs: $0.
The FTC believes that the FTC and
CFPB rules impose negligible capital or
other non-labor costs, as the affected
entities are likely to have the necessary
supplies and/or equipment already (e.g.,
offices and computers) for the
information collections discussed
above.
Request for Comment: Pursuant to
Section 3506(c)(2)(A) of the PRA, the
FTC invites comments on: (1) Whether
the disclosure requirements are
necessary, including whether the
information will be practically useful;
(2) the accuracy of our burden estimates,
including whether the methodology and
assumptions used are valid; (3) ways to
enhance the quality, utility, and clarity
of the information to be collected; and
(4) ways to minimize the burden of
providing the required information to
consumers. All comments should be
filed as prescribed in the ADDRESSES
section above, and must be received on
or before April 28, 2014.
You can file a comment online or on
paper. For the Commission to consider
your comment, we must receive it on or
before April 28, 2014. Write ‘‘RBP Rule,
PRA Comment, P145403,’’ 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 https://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, like 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
11 https://www.bls.gov/news.release/pdf/
ocwage.pdf: Bureau of Labor Statistics, Economic
News Release, March 29, 2013, Table 1, ‘‘National
employment and wage data from the Occupational
Employment Statistics survey by occupation, May
2012.’’
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Federal Register / Vol. 79, No. 39 / Thursday, February 27, 2014 / Notices
information. In addition, do not include
any ‘‘[t]rade secret or any commercial or
financial information which is . . .
privileged or confidential’’ as provided
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 have to follow the procedure
explained in FTC Rule 4.9(c).12 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
comments online. To make sure that the
Commission considers your online
comment, you must file it at https://
ftcpublic.commentworks.com/ftc/
rbprulepra, by following the
instructions on the web-based form. If
this Notice appears at https://
www.regulations.gov/#!home, you also
may file a comment through that Web
site.
If you file your comment on paper,
write ‘‘RBP Rule, PRA Comment,
P145403,’’ 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. If possible, submit your
paper comment to the Commission by
courier or overnight service.
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 April 28, 2014. You can find
more information, including routine
uses permitted by the Privacy Act, in
12 In particular, the written request for
confidential treatment that accompanies the
comment must include the factual and legal basis
for the request, and must identify the specific
portions of the comment to be withheld from the
public record. See FTC Rule 4.9(c), 16 CFR 4.9(c).
VerDate Mar<15>2010
17:58 Feb 26, 2014
Jkt 232001
the Commission’s privacy policy, at
https://www.ftc.gov/ftc/privacy.htm.
David C. Shonka,
Principal Deputy General Counsel.
[FR Doc. 2014–04235 Filed 2–26–14; 8:45 am]
BILLING CODE 6750–01–P
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
Centers for Medicare & Medicaid
Services
Notice of Opportunity for Hearing on
Compliance of Florida State Plan
Provisions Concerning Payment for
Outpatient Hospital Services With Title
XIX (Medicaid) of the Social Security
Act
Centers for Medicare &
Medicaid Services (CMS), HHS.
ACTION: Notice of Opportunity for a
Hearing; Compliance of Florida
Medicaid State Plan Outpatient Hospital
Benefit.
AGENCY:
This notice announces the
opportunity for an administrative
hearing to be held by April 28, 2014 at
the CMS Atlanta Regional Office, 61
Forsyth Street SW., Suite 4T20, Atlanta,
GA 30303–8909, to consider whether
Florida provisions concerning payments
for outpatient hospital services comply
with the requirements of the Social
Security Act as discussed in the [date of
publication] letter sent to the state and
published herein.
Closing Date: Requests to participate
in the hearing as a party must be
received by the presiding officer by
March 31, 2014.
FOR FURTHER INFORMATION CONTACT:
Benjamin R. Cohen, Hearing Officer,
Centers for Medicare & Medicaid
Services, 2520 Lord Baltimore Drive,
Suite L, Baltimore, MD 21244, (301)
869–3169.
SUPPLEMENTARY INFORMATION: This
notice announces the opportunity for an
administrative hearing concerning the
finding of the Administrator of the
Centers for Medicare & Medicaid
Services (CMS) that the state of Florida
is not operating their outpatient hospital
services in compliance with their
approved state plan, or in compliance
with the provisions of the Social
Security Act (the Act), and the proposed
withholding of Federal reimbursement
of a portion of Florida’s administrative
dollars proportionate to outpatient
hospital services. In particular, CMS has
found that Florida has continued to
implement a limit on the number of
times a Medicaid beneficiary may visit
SUMMARY:
PO 00000
Frm 00037
Fmt 4703
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an emergency department, even though
CMS disapproved an amendment to add
this limit to the Florida state plan.
Consequently, Federal payments for a
portion of the Federal funding of
administrative costs will be withheld,
subject for the opportunity for a hearing
described below. This notice is being
provided pursuant to the requirements
of section 1904 of the Act, as
implemented at 42 CFR 430.35 and 42
CFR 430, Subpart D.
Under section 1902(a)(10)(A) of the
Act, a state plan must provide for
making medical assistance available to
eligible individuals, including for most
eligible individuals the medical
assistance specified in section
1905(a)(2) of the Act. This provision
includes in the definition of medical
assistance ‘‘outpatient hospital
services.’’ Section 1902(a)(17) of the Act
requires the state plan to include
reasonable standards for determining
the extent of medical assistance, and
under section 1902(a)(19) of the Act, the
state plan must assure that eligibility for
care and services are provided in the
best interest of the recipients. As the
implementing regulations at 42 CFR
440.230(b) require, a state plan must
‘‘specify the amount, duration, and
scope of each service that it provides,’’
and ‘‘each service must be sufficient in
amount, duration, and scope to
reasonably achieve its purpose.’’ While
states may place ‘‘appropriate limits on
a service based on such criteria as
medical necessity or utilization control
procedures’’ under CFR 440.230(d), 42
CFR 440.230(c) specifies that a state
may not arbitrarily deny or reduce the
amount, duration, or scope of required
services, including physicians’ services,
solely because of the diagnosis, type of
illness, or condition.
The proposed limitation on certain
outpatient hospital services appeared to
be based on the diagnosis, illness, or
condition because it is limited to
outpatient services furnished at a
hospital emergency room, which are
designed to address acute and
immediate conditions. Thus, the
limitation appeared to violate the
requirements of 42 CFR 440.230(c).
Even if that were not the case, the state
did not demonstrate that the limitation
is consistent with provision of a
sufficient amount, duration, and scope
to reasonably achieve the purpose of the
benefit, which in this case would be
providing reasonable coverage that
meets the needs of most beneficiaries
who need the outpatient hospital
services, consistent with 42 CFR
440.230(b).
In disapproving SPA 12–015, CMS
staff suggested to the state some
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]]>Agencies
[Federal Register Volume 79, Number 39 (Thursday, February 27, 2014)]
[Notices]
[Pages 11108-11110]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-04235]
=======================================================================
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FEDERAL TRADE COMMISSION
Agency Information Collection Activities; Proposed Collection;
Comment Request; Extension
AGENCY: Federal Trade Commission (``FTC'' or ``Commission'').
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The FTC intends to ask the Office of Management and Budget
(``OMB'') to extend for an additional three years the current Paperwork
Reduction Act (``PRA'') clearance for the FTC's enforcement of the
information collection requirements in its ``Fair Credit Reporting
Risk-Based Pricing Regulations'' (``RBP Rule''), which applies to
certain motor vehicle dealers, and its shared enforcement with the
Consumer Financial Protection Bureau (``CFPB'') of the risk-based
pricing provisions (subpart H) of the CFPB's Regulation V regarding
other entities. That clearance expires on August 31, 2014.
DATES: Comments must be filed by April 28, 2014.
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 ``RBP Rule, PRA Comment,
P145403,'' on your comment and file your comment online at https://ftcpublic.commentworks.com/ftc/rbprulepra 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, Room H-113 (Annex J), 600
Pennsylvania Avenue NW., Washington, DC 20580.
FOR FURTHER INFORMATION CONTACT: Katherine White, Attorney, Division of
Privacy and Identity Protection, Bureau of Consumer Protection, (202)
326-2878, 600 Pennsylvania Ave. NW., Room NJ-3158, Washington, DC
20580.
SUPPLEMENTARY INFORMATION: On July 21, 2010, President Obama signed
into law the Dodd-Frank Wall Street Reform and Consumer Protection Act
(``Dodd-Frank Act'').\1\ The Dodd-Frank Act substantially changed the
federal legal framework for financial services providers. Among the
changes, the Dodd-Frank Act transferred to the CFPB most of the FTC's
rulemaking authority for the risk-based pricing provisions of the Fair
Credit Reporting Act (``FCRA''),\2\ on July 21, 2011.\3\
---------------------------------------------------------------------------
\1\ Public Law 111-203, 124 Stat. 1376 (2010).
\2\ 15 U.S.C. 1681 et seq.
\3\ Dodd-Frank Act, Sec. 1061. This date was the ``designated
transfer date'' established by the Treasury Department under the
Dodd-Frank Act. See Dep't of the Treasury, Bureau of Consumer
Financial Protection; Designated Transfer Date, 75 FR 57252, 57253
(Sept. 20, 2010); see also Dodd-Frank Act, Sec. 1062.
---------------------------------------------------------------------------
The FTC retains rulemaking authority for the RBP Rule solely for
motor vehicle dealers described in section 1029(a) of the Dodd-Frank
Act that are
[[Page 11109]]
predominantly engaged in the sale and servicing of motor vehicles, the
leasing and servicing of motor vehicles, or both.\4\
---------------------------------------------------------------------------
\4\ See Dodd-Frank Act, Sec. 1029(a), (c).
---------------------------------------------------------------------------
In addition, the FTC retains its authority to enforce the risk-
based pricing provisions of the FCRA and the FTC and CFPB rules issued
under those provisions. Thus, the FTC and CFPB have overlapping
enforcement authority for many entities subject to the CFPB rule and
the FTC has sole enforcement authority for the motor vehicle dealers
subject to the FTC rule.
On December 21, 2011, the CFPB issued its interim final FCRA rule,
including the risk-based pricing provisions (subpart H) of CFPB's
Regulation V.\5\ Contemporaneous with that issuance, the CFPB and FTC
had each submitted to OMB, and received its approval for, the agencies'
respective burden estimates reflecting their overlapping enforcement
jurisdiction, with the FTC supplementing its estimates for the
enforcement authority exclusive to it regarding the class of motor
vehicle dealers noted above. The discussion below continues that
analytical framework, as appropriately updated or otherwise refined for
instant purposes.
---------------------------------------------------------------------------
\5\ 76 FR 79308 (Dec. 21, 2011).
---------------------------------------------------------------------------
Burden statement: Under the PRA, 44 U.S.C. 3501-3521, Federal
agencies must get OMB approval for each collection of information they
conduct or sponsor. ``Collection of information'' includes agency
requests or requirements to submit reports, keep records, or provide
information to a third party. 44 U.S.C. 3502(3); 5 CFR 1320.3(c). The
FTC is seeking clearance for its assumed share of the estimated PRA
burden regarding the disclosure requirements under the FTC and CFPB
Rules.
Under Sec. Sec. 640.3-640.4 of the FTC's RBP Rule \6\ and
Sec. Sec. 1022.72-1022.73 of the CFPB Rule,\7\ a creditor must provide
a risk-based pricing notice to a consumer when the creditor uses a
consumer report to grant or extend credit to the consumer on material
terms that are materially less favorable than the most favorable terms
available to a substantial proportion of consumers from or through that
creditor. Additionally, these provisions require disclosure of credit
scores and information relating to credit scores in risk-based pricing
notices if a credit score of the consumer is used in setting the
material terms of credit.
---------------------------------------------------------------------------
\6\ 16 CFR 640.3, -640.4.
\7\ 12 CFR 1022.72, -1022.73.
---------------------------------------------------------------------------
The FTC's currently cleared burden totals, post-adjustment for the
effects of the Dodd-Frank Act, are 13,319,471 hours.\8\ The past burden
analysis, however, was tied to the inception of the Rule and its later
amendments, and included one-time burdens attributable to
implementation. The FTC's updated estimate of burden hours reflects
solely the recurring burden of complying with the Rule.
---------------------------------------------------------------------------
\8\ OMB Control No. 3084-0145.
---------------------------------------------------------------------------
Using the currently cleared estimates (post-adjustment for the
effects of the Dodd-Frank Act) for the number of applicable motor
vehicle dealers and their assumed recurring disclosure burdens, in
addition to the estimated number of and burden for other entities over
which the FTC shares enforcement burden with the CFPB, the FTC proposes
the following:
A. Estimated number of respondents: 160,875.\9\
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\9\ This estimate derives in part from an analysis of the
figures obtained from the North American Industry Classification
System (NAICS) Association's database of U.S. businesses. See https://www.naics.com/search.htm. Commission staff identified categories of
entities under its jurisdiction that also directly provide credit to
consumers. Those categories include retail, vehicle dealers,
consumer lenders, and utilities. The estimate also includes state-
chartered credit unions, which are subject to the Commission's
jurisdiction. See 15 U.S.C. 1681s. For the latter category,
Commission staff relied on estimates from the Credit Union National
Association for the number of non-federal credit unions. See https://www.ncua.gov/Legal/Documents/Reports/AR2012.pdf. For purposed of
estimating the burden, Commission staff made the conservative
assumption that all of the included entities engage in risk-based
pricing. The resulting tally of entities numbered 199,500. From this
amount, the FTC deducted an estimated portion attributable to motor
vehicle dealers in order to calculate a net amount in which to split
evenly with the CFPB for the remaining number of respondents for
purposes of estimating the FTC's overall share of PRA burden. The
FTC estimated there were 122,250 motor vehicle dealers, determined
as follows: 111,136 car dealers per NAICS data (57,535 new car
dealers, 53,601 used car dealers) + 10% add-on approximation for
other motor vehicle types (motorbikes, boats, other recreational).
Excluding the estimated number of motor vehicle dealers, 122,250,
from the estimated overall number of affected entities, 199,500,
leaves 77,250 as the number of respondents for the agencies' 50:50
apportionment: 77,250, i.e., about 38,625 each. Thus, for the FTC,
the estimated number of respondents for its calculations is 160,875
(122,250 + 38,625).
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B. Burden Hours: 9,652,500.
Yearly recurring burden of 60 hours per respondent \10\ to modify
and distribute notices x 160,875 respondents = 9,652,500 hours,
cumulatively.
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\10\ Assumption: 5 hours per month per respondent.
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C. Labor Costs: $171,331,875.
Labor costs are derived by applying appropriate estimated hourly
cost figures to the burden hours described above. The FTC assumes that
respondents will use correspondence clerks, at a mean hourly wage of
$17.75,\11\ to modify and distribute notices to consumers, for a
cumulative labor cost total of $171,331,875.
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\11\ https://www.bls.gov/news.release/pdf/ocwage.pdf: Bureau of
Labor Statistics, Economic News Release, March 29, 2013, Table 1,
``National employment and wage data from the Occupational Employment
Statistics survey by occupation, May 2012.''
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D. Capital/Non-Labor Costs: $0.
The FTC believes that the FTC and CFPB rules impose negligible
capital or other non-labor costs, as the affected entities are likely
to have the necessary supplies and/or equipment already (e.g., offices
and computers) for the information collections discussed above.
Request for Comment: Pursuant to Section 3506(c)(2)(A) of the PRA,
the FTC invites comments on: (1) Whether the disclosure requirements
are necessary, including whether the information will be practically
useful; (2) the accuracy of our burden estimates, including whether the
methodology and assumptions used are valid; (3) ways to enhance the
quality, utility, and clarity of the information to be collected; and
(4) ways to minimize the burden of providing the required information
to consumers. All comments should be filed as prescribed in the
ADDRESSES section above, and must be received on or before April 28,
2014.
You can file a comment online or on paper. For the Commission to
consider your comment, we must receive it on or before April 28, 2014.
Write ``RBP Rule, PRA Comment, P145403,'' 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 https://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, like 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
[[Page 11110]]
information. In addition, do not include any ``[t]rade secret or any
commercial or financial information which is . . . privileged or
confidential'' as provided 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 have to follow the procedure explained
in FTC Rule 4.9(c).\12\ Your comment will be kept confidential only if
the FTC General Counsel grants your request in accordance with the law
and the public interest.
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\12\ In particular, the written request for confidential
treatment that accompanies the comment must include the factual and
legal basis for the request, and must identify the specific portions
of the comment to be withheld from the public record. See FTC Rule
4.9(c), 16 CFR 4.9(c).
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Postal mail addressed to the Commission is subject to delay due to
heightened security screening. As a result, we encourage you to submit
your comments online. To make sure that the Commission considers your
online comment, you must file it at https://ftcpublic.commentworks.com/ftc/rbprulepra, by following the instructions on the web-based form. If
this Notice appears at https://www.regulations.gov/#!home, you also may
file a comment through that Web site.
If you file your comment on paper, write ``RBP Rule, PRA Comment,
P145403,'' 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. If possible, submit your paper comment to the
Commission by courier or overnight service.
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 April 28,
2014. You can find more information, including routine uses permitted
by the Privacy Act, in the Commission's privacy policy, at https://www.ftc.gov/ftc/privacy.htm.
David C. Shonka,
Principal Deputy General Counsel.
[FR Doc. 2014-04235 Filed 2-26-14; 8:45 am]
BILLING CODE 6750-01-P
