Agency Information Collection Activities; Proposed Collection; Comment Request; Extension, 12452-12454 [2017-04117]
Download as PDF
12452
Federal Register / Vol. 82, No. 41 / Friday, March 3, 2017 / Notices
FEDERAL ELECTION COMMISSION
Sunshine Act Meeting
Federal Election Commission.
DATE AND TIME: Tuesday, March 7, 2017
at 10:00 a.m. and its Continuation at the
Conclusion of the open meeting on
March 9, 2017.
PLACE: 999 E Street NW., Washington,
DC.
STATUS: This meeting will be closed to
the public.
ITEMS TO BE DISCUSSED: Compliance
matters pursuant to 52 U.S.C. 30109.
Investigatory records compiled for
law enforcement purposes and
production would disclose investigative
techniques.
Information the premature disclosure
of which would be likely to have a
considerable adverse effect on the
implementation of a proposed
Commission action.
Matters concerning participation in
civil actions or proceedings or
arbitration.
*
*
*
*
*
PERSON TO CONTACT FOR INFORMATION:
Judith Ingram, Press Officer, Telephone:
(202) 694–1220.
AGENCY:
Dayna C. Brown,
Secretary and Clerk of the Commission.
[FR Doc. 2017–04198 Filed 3–1–17; 11:15 am]
BILLING CODE 6715–01–P
Board of Governors of the Federal Reserve
System, February 27, 2017.
Yao-Chin Chao,
Assistant Secretary of the Board
FEDERAL RESERVE SYSTEM
mstockstill on DSK3G9T082PROD with NOTICES
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies
[FR Doc. 2017–04083 Filed 3–2–17; 8:45 am]
BILLING CODE 6210–01–P
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
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
VerDate Sep<11>2014
16:42 Mar 02, 2017
Jkt 241001
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 27,
2017.
A. Federal Reserve Bank of Cleveland
(Nadine Wallman, Vice President) 1455
East Sixth Street, Cleveland, Ohio
44101–2566. Comments can also be sent
electronically to
Comments.applications@clev.frb.org:
1. S&T Bancorp, Indiana,
Pennsylvania; to acquire approximately
6.5 percent of the voting shares of
Standard Financial Corporation,
Murrysville, Pennsylvania, and thereby
acquire Standard Bank PASB,
Murrysville, Pennsylvania.
B. Federal Reserve Bank of St. Louis
(David L. Hubbard, Senior Manager)
P.O. Box 442, St. Louis, Missouri
63166–2034. Comments can also be sent
electronically to
Comments.applications@stls.frb.org:
1. Southern Bancorp, Inc.,
Arkadelphia, Arkansas; to acquire 100
percent of the voting shares of Farmers
Bank, Hamburg, Arkansas.
FEDERAL TRADE COMMISSION
Agency Information Collection
Activities; Proposed Collection;
Comment Request; Extension
Federal Trade Commission
(‘‘FTC’’ or ‘‘Commission’’).
ACTION: Notice.
AGENCY:
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
SUMMARY:
PO 00000
Frm 00026
Fmt 4703
Sfmt 4703
Regulation V regarding other entities.
That clearance expires on July 1, 2017.
DATES: Comments must be filed by May
2, 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 ‘‘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 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:
Katherine White, Attorney, Division of
Privacy and Identity Protection, Bureau
of Consumer Protection, (202) 326–
2878, 600 Pennsylvania Ave. NW.,
Room CC–8232, 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
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
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.
4 See Dodd-Frank Act, § 1029(a), (c).
2 15
E:\FR\FM\03MRN1.SGM
03MRN1
Federal Register / Vol. 82, No. 41 / Friday, March 3, 2017 / Notices
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.
As an analytical framework to
estimate PRA burden in the ‘‘Burden
Statement’’ below, the FTC estimates
burden pertaining to respondents over
which both agencies have shared
enforcement authority, divides the
resulting total by one-half to reflect the
FTC’s shared jurisdiction, and adds to
the resulting subtotal the incremental
estimated burden regarding the motor
vehicle dealers described above over
which the FTC retains exclusive
enforcement (and rulemaking) authority.
mstockstill on DSK3G9T082PROD with NOTICES
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.
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 May 2, 2017.
Under §§ 640.3–640.4 of the FTC’s
RBP Rule 5 and §§ 1022.72–1022.73 of
the CFPB Rule,6 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
5 16
6 12
CFR 640.3, –640.4.
CFR 1022.72, –1022.73.
VerDate Sep<11>2014
16:42 Mar 02, 2017
Jkt 241001
score of the consumer is used in setting
the material terms of credit.
The FTC’s currently cleared burden
totals, post-adjustment for the effects of
the Dodd-Frank Act, are 9,652,500 hours
based on an estimated population of
160,875 entities apportioned to FTC
enforcement and/or rulemaking
authority.7
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 updated
estimates:
A. Estimated Number of Respondents:
160,250.8
B. Burden Hours: 9,615,000.
Yearly recurring burden of 60 hours
per respondent 9 to modify and
distribute notices × 160,250 respondents
= 9,615,000 hours, cumulatively.
C. Labor Costs: $167,974,050.
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
7 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/annualreport-2015.pdf. For purposes 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 estimates there are approximately 121,000
motor vehicle dealers, determined as follows:
86,442 car dealers per NAICS data (49,905 new car
dealers, 36,537 used car dealers) + [3,191
Recreational Vehicle Dealers; 7,185 boat dealers;
24,157 motorcycle, ATV/All Other Motor Vehicle
Dealers] = 120,975. See https://www.naics.com/sixdigit-naics/?code=4445. Excluding the estimated
number of motor vehicle dealers, 121,000, from the
estimated overall number of affected entities,
199,500, leaves 78,500 as the number of
respondents for the agencies’ 50:50 apportionment:
78,500, i.e., 39,250 each. Thus, for the FTC, the
estimated number of respondents for its
calculations is 160,250 (121,000 + 39,250).
9 Assumption: 5 hours per month per respondent.
8 This
PO 00000
Frm 00027
Fmt 4703
Sfmt 4703
12453
clerks, at a mean hourly wage of
$17.47,10 to modify and distribute
notices to consumers, for a cumulative
labor cost total of $167,974,050.
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
You can file a comment online or on
paper. For the Commission to consider
your comment, we must receive it on or
before May 2, 2017. 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
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), 16CFR
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
10 https://www.bls.gov/news.release/ocwage.htm:
Bureau of Labor Statistics, Economic News Release,
March 30, 2016, Table 1, ‘‘National employment
and wage data from the Occupational Employment
Statistics survey by occupation, May 2015.’’
E:\FR\FM\03MRN1.SGM
03MRN1
12454
Federal Register / Vol. 82, No. 41 / Friday, March 3, 2017 / Notices
explained in FTC Rule 4.9(c).11 Your
comment will be kept confidential only
if the FTC General Counsel grants your
request in accordance with the law and
the public interest. Once your comment
is posted, as legally required by FTC
Rule 4.9(b), we cannot redact or remove
your comment from the FTC’s public
record, including the FTC’s Web site,
unless you submit a confidentiality
request that meets the requirements for
such treatment under FTC Rule 4.9(c),
and the General Counsel grants that
request in accordance with the law and
the public interest, as explained above.
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.
When 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,
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. 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 May 2, 2017. For information on
the Commission’s privacy policy,
including routine uses permitted by the
Privacy Act, see https://www.ftc.gov/ftc/
privacy.htm.
mstockstill on DSK3G9T082PROD with NOTICES
David C. Shonka,
Acting General Counsel.
[FR Doc. 2017–04117 Filed 3–2–17; 8:45 am]
BILLING CODE 6750–01–P
11 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 Sep<11>2014
16:42 Mar 02, 2017
Jkt 241001
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
Centers for Disease Control and
Prevention
Request for Nominations of
Candidates To Serve on the Clinical
Laboratory Improvement Advisory
Committee (CLIAC)
The Centers for Disease Control and
Prevention (CDC) is soliciting
nominations for membership on CLIAC.
CLIAC provides scientific and technical
advice and guidance to the Secretary,
Department of Health and Human
Services (HHS); the Assistant Secretary
for Health, HHS; the Director, Centers
for Disease Control and Prevention
(CDC); the Commissioner, Food and
Drug Administration (FDA); and the
Administrator, Centers for Medicare &
Medicaid Services (CMS). The advice
and guidance pertain to general issues
related to improvement in clinical
laboratory quality and laboratory
medicine. In addition, the Committee
provides advice and guidance on
specific questions related to possible
revision of the CLIA standards.
Examples include providing guidance
on studies designed to improve safety,
effectiveness, efficiency, timeliness,
equity, and patient-centeredness of
laboratory services; revisions to the
standards under which clinical
laboratories are regulated; the impact of
proposed revisions to the standards on
medical and laboratory practice; and the
modification of the standards and
provision of non-regulatory guidelines
to accommodate technological
advances, such as new test methods, the
electronic transmission of laboratory
information, and mechanisms to
improve the integration of public health
and clinical laboratory practices.
CLIAC consists of 20 members
including the Chair, represents a diverse
membership across laboratory
specialties, professional roles
(laboratory management, technical
specialists, physicians, nurses) and
practice settings (academic, clinical,
public health), and includes a consumer
representative. In addition, the
Committee includes three ex officio
members (or designees), including the
Director, CDC; the Administrator, CMS;
and the Commissioner, FDA. A
nonvoting representative from the
Advanced Medical Technology
Association (AdvaMed) serves as the
industry liaison. The Designated Federal
Official (DFO) or their designee and the
Executive Secretary are present at all
meetings to ensure meetings are within
applicable statutory, regulatory and
PO 00000
Frm 00028
Fmt 4703
Sfmt 4703
HHS General Administration manual
directives.
Request for Candidates: Nominations
are being sought for individuals who
have expertise and qualifications
necessary to contribute to
accomplishing CLIAC’s objectives.
Nominees will be selected by the HHS
Secretary or designee from authorities
knowledgeable across the fields of
microbiology (including bacteriology,
mycobacteriology, mycology,
parasitology, and virology), immunology
(including histocompatibility),
chemistry, hematology, pathology
(including histopathology and cytology),
or genetic testing (including
cytogenetics); representatives from the
fields of medical technology, public
health, and clinical practice; and
consumer representatives. Members
may be invited to serve for terms of up
to four years.
The U.S. Department of Health and
Human Services policy stipulates that
Committee membership be balanced in
terms of points of view represented, and
the committee’s function. Appointments
shall be made without discrimination
on the basis of age, race, ethnicity,
gender, sexual orientation, gender
identity, HIV status, disability, and
cultural, religious, or socioeconomic
status. Nominees must be U.S. citizens,
and cannot be full-time employees of
the U.S. Government. Current
participation on federal workgroups or
prior experience serving on a federal
advisory committee does not disqualify
a candidate; however, HHS policy is to
avoid excessive individual service on
advisory committees and multiple
committee memberships. Committee
members are Special Government
Employees, requiring the filing of
financial disclosure reports at the
beginning and annually during their
terms. CDC reviews potential candidates
for CLIAC membership each year, and
provides a slate of nominees for
consideration to the Secretary of HHS
for final selection. HHS notifies selected
candidates of their appointment near
the start of the term in July, or as soon
as the HHS selection process is
completed. Note that the need for
different expertise and individuals to
maintain the appropriate demographic
balance varies from year to year and a
candidate who is not selected in one
year may be reconsidered in a
subsequent year.
Candidates should submit the
following items to be considered for
nomination. The deadline for receipt of
materials for the 2018 term is May 1,
2017:
• Current curriculum vitae, including
complete contact information (name,
E:\FR\FM\03MRN1.SGM
03MRN1
Agencies
[Federal Register Volume 82, Number 41 (Friday, March 3, 2017)]
[Notices]
[Pages 12452-12454]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-04117]
=======================================================================
-----------------------------------------------------------------------
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 July 1, 2017.
DATES: Comments must be filed by May 2, 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 ``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 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: Katherine White, Attorney, Division of
Privacy and Identity Protection, Bureau of Consumer Protection, (202)
326-2878, 600 Pennsylvania Ave. NW., Room CC-8232, 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 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
[[Page 12453]]
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.
As an analytical framework to estimate PRA burden in the ``Burden
Statement'' below, the FTC estimates burden pertaining to respondents
over which both agencies have shared enforcement authority, divides the
resulting total by one-half to reflect the FTC's shared jurisdiction,
and adds to the resulting subtotal the incremental estimated burden
regarding the motor vehicle dealers described above over which the FTC
retains exclusive enforcement (and rulemaking) authority.
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.
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 May 2, 2017.
Under Sec. Sec. 640.3-640.4 of the FTC's RBP Rule \5\ and
Sec. Sec. 1022.72-1022.73 of the CFPB Rule,\6\ 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.
---------------------------------------------------------------------------
\5\ 16 CFR 640.3, -640.4.
\6\ 12 CFR 1022.72, -1022.73.
---------------------------------------------------------------------------
The FTC's currently cleared burden totals, post-adjustment for the
effects of the Dodd-Frank Act, are 9,652,500 hours based on an
estimated population of 160,875 entities apportioned to FTC enforcement
and/or rulemaking authority.\7\
---------------------------------------------------------------------------
\7\ 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 updated estimates:
A. Estimated Number of Respondents: 160,250.\8\
---------------------------------------------------------------------------
\8\ 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/annual-report-2015.pdf. For
purposes 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 estimates there are approximately
121,000 motor vehicle dealers, determined as follows: 86,442 car
dealers per NAICS data (49,905 new car dealers, 36,537 used car
dealers) + [3,191 Recreational Vehicle Dealers; 7,185 boat dealers;
24,157 motorcycle, ATV/All Other Motor Vehicle Dealers] = 120,975.
See https://www.naics.com/six-digit-naics/?code=4445. Excluding the
estimated number of motor vehicle dealers, 121,000, from the
estimated overall number of affected entities, 199,500, leaves
78,500 as the number of respondents for the agencies' 50:50
apportionment: 78,500, i.e., 39,250 each. Thus, for the FTC, the
estimated number of respondents for its calculations is 160,250
(121,000 + 39,250).
---------------------------------------------------------------------------
B. Burden Hours: 9,615,000.
Yearly recurring burden of 60 hours per respondent \9\ to modify
and distribute notices x 160,250 respondents = 9,615,000 hours,
cumulatively.
---------------------------------------------------------------------------
\9\ Assumption: 5 hours per month per respondent.
---------------------------------------------------------------------------
C. Labor Costs: $167,974,050.
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
$17.47,\10\ to modify and distribute notices to consumers, for a
cumulative labor cost total of $167,974,050.
---------------------------------------------------------------------------
\10\ https://www.bls.gov/news.release/ocwage.htm: Bureau of
Labor Statistics, Economic News Release, March 30, 2016, Table 1,
``National employment and wage data from the Occupational Employment
Statistics survey by occupation, May 2015.''
---------------------------------------------------------------------------
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
You can file a comment online or on paper. For the Commission to
consider your comment, we must receive it on or before May 2, 2017.
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 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), 16CFR
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
[[Page 12454]]
explained in FTC Rule 4.9(c).\11\ Your comment will be kept
confidential only if the FTC General Counsel grants your request in
accordance with the law and the public interest. Once your comment is
posted, as legally required by FTC Rule 4.9(b), we cannot redact or
remove your comment from the FTC's public record, including the FTC's
Web site, unless you submit a confidentiality request that meets the
requirements for such treatment under FTC Rule 4.9(c), and the General
Counsel grants that request in accordance with the law and the public
interest, as explained above.
---------------------------------------------------------------------------
\11\ 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).
---------------------------------------------------------------------------
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.
When 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, 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. 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 May 2, 2017.
For information on the Commission's privacy policy, including routine
uses permitted by the Privacy Act, see https://www.ftc.gov/ftc/privacy.htm.
David C. Shonka,
Acting General Counsel.
[FR Doc. 2017-04117 Filed 3-2-17; 8:45 am]
BILLING CODE 6750-01-P