Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003, 67453-67454 [2010-27556]

Agencies

• DEPARTMENT OF THE TREASURY
• Office of Thrift Supervision
• Thrift Supervision Office

[Federal Register Volume 75, Number 211 (Tuesday, November 2, 2010)]
[Notices]
[Pages 67453-67454]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-27556]


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DEPARTMENT OF THE TREASURY

Office of Thrift Supervision


Identity Theft Red Flags and Address Discrepancies Under the Fair 
and Accurate Credit Transactions Act of 2003

AGENCY: Office of Thrift Supervision (OTS), Treasury.

ACTION: Notice and request for comment.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to comment on proposed and continuing 
information collections, as required by the Paperwork Reduction Act of 
1995, 44 U.S.C. 3507. The Office of Thrift Supervision within the 
Department of the Treasury will submit the proposed information 
collection requirement described below to the Office of Management and 
Budget (OMB) for review, as required by the Paperwork Reduction Act. 
Today, OTS is soliciting public comments on its proposal to extend this 
information collection.

DATES: Submit written comments on or before January 3, 2011.

ADDRESSES: Send comments, referring to the collection by title of the 
proposal or by OMB approval number, to Information Collection Comments, 
Chief Counsel's Office, Office of Thrift Supervision, 1700 G Street, 
NW., Washington, DC 20552; send a facsimile transmission to (202) 906-
6518; or send an e-mail to infocollection.comments@ots.treas.gov. OTS 
will post comments and the related index on the OTS Internet Site at 
https://www.ots.treas.gov. In addition, interested persons may inspect 
comments at the Public Reading Room, 1700 G Street, NW., by 
appointment. To make an appointment, call (202) 906-5922, send an e-
mail to public.info@ots.treas.gov">public.info@ots.treas.gov, or send a facsimile transmission to 
(202) 906-7755.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
about this proposed information collection from Ekita Mitchell (202) 
906-6451, Office of Thrift Supervision, 1700 G Street, NW., Washington, 
DC 20552.

SUPPLEMENTARY INFORMATION: OTS may not conduct or sponsor an 
information collection, and respondents are not required to respond to 
an information collection, unless the information collection displays a 
currently valid OMB control number. As part of the approval process, we 
invite comments on the following information collection.
    Comments should address one or more of the following points:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the functions of OTS;
    b. The accuracy of OTS's estimate of the burden of the proposed 
information collection;
    c. Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    d. Ways to minimize the burden of the information collection on 
respondents, including through the use of information technology.
    We will summarize the comments that we receive and include them in 
the OTS request for OMB approval. All comments will become a matter of 
public record. In this notice, OTS is soliciting comments concerning 
the following information collection.
    Title of Proposal: Identity Theft Red Flags and Address 
Discrepancies under the Fair and Accurate Credit Transactions Act of 
2003.
    OMB Number: 1550-0113.
    Form Number: N/A.
    Description: The Fair and Accurate Credit Transactions Act of 2003 
(FACT Act) Section 114 amends section 615 of the Fair Credit Reporting 
Act (FCRA) to require the OTS, Office of the Comptroller of the 
Currency, Federal Reserve Board, Federal Deposit Insurance Corporation, 
National Credit Union Administration, and Federal Trade Commission 
(Agencies) to issue jointly guidelines for financial institutions and 
creditors regarding identity theft with respect to their account 
holders and customers. In developing the guidelines, the Agencies must 
identify patterns, practices, and specific forms of activity that 
indicate the possible existence of identity theft. The regulations 
require each financial institution and creditor to establish

[[Page 67454]]

reasonable policies and procedures for implementing the guidelines to 
identify possible risks to account holders or customers or to the 
safety and soundness of the institution or creditor.
    The FACT Act Section 315 amends section 605 of the FCRA to require 
the Agencies to issue joint regulations providing guidance regarding 
reasonable policies and procedures that a user of consumer reports must 
employ when a user receives a notice of address discrepancy from a 
consumer reporting agency (CRA). The regulations describe reasonable 
policies and procedures for users of consumer reports to enable a user 
to form a reasonable belief that it knows the identity of the person 
for whom it has obtained a consumer report, and reconcile the address 
of the consumer with the CRA, if the user establishes a continuing 
relationship with the consumer and regularly and in the ordinary course 
of business furnishes information to the CRA.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 739.
    Estimated Frequency of Response: On occasion.
    Estimated Total Burden: 11,824 hours.

    Dated: October 27, 2010.
Ira L. Mills,
Paperwork Clearance Officer, Office of Chief Counsel, Office of Thrift 
Supervision.
[FR Doc. 2010-27556 Filed 11-1-10; 8:45 am]
BILLING CODE 6720-01-P