Agency Information Collection Activities; Renewal of Currently Approved Collections; Comment Request, 2685-2689 [2012-988]

Download as PDF Federal Register / Vol. 77, No. 12 / Thursday, January 19, 2012 / Notices burden of the collection of information on respondents, including through the use of automated, electronic, mechanical, or other technological collection techniques or other forms of information technology. Burden means the total time, effort, or financial resources expended by persons to generate, maintain, retain, disclose or provide information to or for a Federal agency. This includes the time needed to review instructions; to develop, acquire, install and utilize technology and systems for the purpose of collecting, validating and verifying information, processing and maintaining information, and disclosing and providing information; to train personnel and to be able to respond to a collection of information, to search data sources, to complete and review the collection of information; and to transmit or otherwise disclose the information. Dated: January 13, 2012. Chris Willey, Chief Information Officer, Consumer Financial Protection Bureau. [FR Doc. 2012–986 Filed 1–18–12; 8:45 am] BILLING CODE P BUREAU OF CONSUMER FINANCIAL PROTECTION [Docket No. CFPB–2012–0001] Proposed Collection; Comment Request Bureau of Consumer Financial Protection. ACTION: Notice and request for comment. AGENCY: The Consumer Financial Protection Bureau (CFPB), as part of its continuing effort to reduce paperwork burdens, invites the general public and other Federal agencies to comment on a proposed revision to an information collection, as required by the Paperwork Reduction Act of 1995, Public Law 104– 13. The CFPB is soliciting comments regarding the information collection requirements under OMB control number 3170–0001, Report of Terms of Credit Card Plans. DATES: Written comments must be received on or before March 19, 2012 to be assured of consideration. ADDRESSES: You may submit comments, identified by Docket No. CFPB–2012– 0001, by any of the following methods: • Electronic: http:// www.regulations.gov. Follow the instructions for submitting comments. • Mail: Monica Jackson, Office of the Executive Secretary, Consumer mstockstill on DSK4VPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 16:21 Jan 18, 2012 Jkt 226001 Financial Protection Bureau, 1700 G Street NW., Washington, DC 20006. • Hand Delivery/Courier in Lieu of Mail: Monica Jackson, Office of the Executive Secretary, Consumer Financial Protection Bureau, 1700 G Street NW., Washington, DC 20006. All submissions must include the agency name and docket number. In general, all comments received will be posted without change to http:// www.regulations.gov. In addition, comments will be available for public inspection and copying at 1700 G Street NW., Washington, DC 20006, on official business days between the hours of 10 a.m. and 5 p.m. Eastern Time. You can make an appointment to inspect the documents by telephoning (202) 435– 7275. All comments, including attachments and other supporting materials, will become part of the public record and subject to public disclosure. Sensitive personal information, such as account numbers or social security numbers, should not be included. Comments will not be edited to remove any identifying or contact information. FOR FURTHER INFORMATION CONTACT: Requests for additional information should be directed to Dan Quan, Research, Markets & Regulations, at (202) 435–7678. SUPPLEMENTARY INFORMATION: Title: Report of Terms of Credit Card Plans. OMB Control Number: 3170–0001. Abstract: Section 1100A of the DoddFrank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), Public Law 111–203, transferred the authority to conduct the semiannual Report of Terms of Credit Card, from the Federal Reserve Board to the CFPB on July 21, 2011. About 150 credit card issuers, including the 25 largest issuers as measured by outstanding credit card receivables, report the information on credit card pricing and fees. Previously, the information was collected under OMB control number 7100–0239, Form Number 2572. Much of the information collected through the approved information collection is now widely available and in greater detail on thirdparty credit card shopping Web sites. The CFPB is looking for ways to make the report more informative and helpful for consumers. Type of Review: Revision of a currently approved collection. Affected Public: Credit Card issuers. Estimated Total Annual Burden Hours: 75. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for Office of Management and PO 00000 Frm 00002 Fmt 4703 Sfmt 4703 2685 Budget approval. All comments will become a matter of public record. The public is invited to submit written comments concerning: (a) Whether the collection of information is necessary for the proper performance of the CFPB, including whether the information will have practical utility; (b) the accuracy of the above estimate of the burden of the information collection; (c) ways to enhance the quality, usefulness, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of appropriate automated, electronic, mechanical or other technological collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. Dated: January 9, 2012. Chris Willey, Chief Information Officer, Consumer Financial Protection Bureau. [FR Doc. 2012–987 Filed 1–18–12; 8:45 am] BILLING CODE 4810–AM–P BUREAU OF CONSUMER FINANCIAL PROTECTION [Docket No. CFPB–2012–0002] Agency Information Collection Activities; Renewal of Currently Approved Collections; Comment Request Bureau of Consumer Financial Protection. ACTION: Notice and request for comment. AGENCY: The Bureau of Consumer Financial Protection (CFPB or the Bureau) is soliciting comments concerning the currently approved information collections associated with certain recently published interim final rules. This notice is published by the CFPB as part of its continuing effort to reduce paperwork and respondent burden. The public and other Federal agencies are invited to take this opportunity to comment on this information collection, as required by the Paperwork Reduction Act of 1995, Public Law 104–13. DATES: Comments must be received on or before March 19, 2012 to be assured of consideration. ADDRESSES: You may submit comments, identified by docket number CFPB– 2012–0002 and the relevant OMB control numbers listed below, by any of the following methods: • Electronic: http:// www.regulations.gov. Follow the instructions for submitting comments. SUMMARY: E:\FR\FM\19JAN1.SGM 19JAN1 2686 Federal Register / Vol. 77, No. 12 / Thursday, January 19, 2012 / Notices mstockstill on DSK4VPTVN1PROD with NOTICES • Mail: Chris Willey, Consumer Financial Protection Bureau, 1700 G Street NW., Washington, DC 20006. • Hand Delivery/Courier in Lieu of Mail: Chris Willey, Consumer Financial Protection Bureau, 1700 G Street NW., Washington, DC 20006. In general, all comments will be posted without change to http:// www.regualtions.gov. In addition, comments will be available for public inspection and copying at 1700 G Street NW., Washington, DC 20006, on official business days between the hours of 10 a.m. and 5 p.m. Eastern Time. You can make an appointment to inspect the documents by telephoning (202) 435– 7275. All comments, including attachments and other supporting materials, will become part of the public record and subject to public disclosure. Sensitive personal information, such as account numbers or social security numbers, should not be included. Comments will not be edited to remove any identifying or contact information. FOR FURTHER INFORMATION CONTACT: Requests for additional information may be obtained by contacting Chris Willey, Chief Information Officer, Consumer Financial Protection Bureau, 1700 G Street, Washington, DC 20006. SUPPLEMENTARY INFORMATION: Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) transferred rulemaking authority for a number of consumer financial protection laws from seven Federal agencies to the CFPB as of July 21, 2011.1 In December 2011, the CFPB republished the regulations implementing those laws with technical and conforming changes to reflect the transfer of authority and certain other changes made by the Dodd-Frank Act. Prior to the republication, the CFPB obtained emergency approvals from the Office of Management and Budget (OMB) for the information collections for which the CFPB had administrative enforcement authority under these regulations. The burden hours associated with the collections identified below are not new burden hours. Rather, they are transfers of burden hours from the transferor agencies. In obtaining emergency approval, the CFPB’s estimates of the burden of the following information 1 The seven Federal agencies are the Board of Governors (Board), the Federal Deposit Insurance Corporation (FDIC), the Federal Trade Commission (FTC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), the Office of Thrift Supervision (OTS), and the Department of Housing and Urban Development (HUD) (collectively, the transferor agencies). See Section 1061(a)(2) of the Dodd-Frank Act. VerDate Mar<15>2010 16:21 Jan 18, 2012 Jkt 226001 collections were based on the assumption that the total ongoing burden for these regulations, across all agencies, remained the same as it was before the regulations were restated by the CFPB. Furthermore, the CFPB primarily relied on the estimates previously developed by the transferor agencies concerning the number of entities subject to the regulations and the hours of paperwork burden under the statutes. To comply with the requirements under 44 U.S.C. 3506, the CFPB requests public comment on the following collections: OMB Number: 3170–0002. Type of Review: Extension. Title: Fair Credit Reporting Act (Regulation V) 12 CFR Part 1022. Description: The consumer disclosures included in Regulation V are designed to alert consumers that a financial institution furnished negative information about them to a consumer reporting agency, that they have a right to opt out of receiving marketing materials and credit or insurance offers, that their credit report was used in setting the material terms of credit that may be less favorable than the terms offered to consumers with better credit histories, that they maintain certain rights with respect to a theft of their identity that they reported to a consumer reporting agency, that they maintain rights with respect to knowing what is in their consumer reporting agency file, that they can request a free credit report, and that they can report a theft of their identity to the CFPB. Consumers then can use the information provided to consider how and when to check and use their credit reports. These disclosures are substantially the same as those previously provided by model forms promulgated by the Board, the FDIC, the NCUA, the OCC, the OTS and the FTC. Respondents: Businesses or other forprofits. Estimated Total Reporting Burden: 4,737,000 hours. OMB Number: 3170–0004. Type of Review: Extension. Title: Truth in Savings (Regulation DD) 12 CFR 1030. Description: Federal agencies use the records to ascertain whether accurate and complete disclosures of depository accounts have been provided to consumers. This information also provides the primary evidence of law violations in Truth in Savings (TISA) enforcement actions brought by the CFPB and other agencies. Without the Regulation DD recordkeeping requirement, the agencies’ abilities to enforce TISA would be significantly impaired. Consumers rely on the PO 00000 Frm 00003 Fmt 4703 Sfmt 4703 disclosures required by TISA and Regulation DD to facilitate informed decisionmaking regarding deposit accounts offered at depository institutions. Without this information, consumers would be severely hindered in their ability to assess the true costs and terms of the deposit accounts offered. These disclosures and provisions are necessary for the enforcement agencies to enforce TISA and Regulation DD. Respondents: Businesses or other forprofits. Estimated Total Reporting Burden: 23,000 hours. OMB Number: 3170–0005. Type of Review: Extension. Title: Secure and Fair Enforcement for Mortgage Licensing Act (Regulation G) 12 CFR Part 1007. Description: The information collection will improve the flow of information to and between regulators; provide accountability and tracking of mortgage loan originators (MLOs), enhance consumer protections, reduce fraud in the residential mortgage loan origination process and provide consumers with easily accessible information at no charge regarding the employment history of, and publicly adjudicated disciplinary and enforcement actions against, MLOs. Respondents: Businesses or other forprofits. Estimated Total Reporting Burden: 15,000 hours. OMB Number: 3170–0006. Type of Review: Extension. Title: Consumer Leasing Act (Regulation M) 12 CFR Part 1013. Description: Federal and state enforcement and private litigants use the records to ascertain whether accurate and complete disclosures of the cost of leases have been provided to consumers prior to consummation of the lease. This information provides the primary evidence of law violations in Consumer Leasing Act (CLA) enforcement actions brought by Federal agencies. Without Regulation M’s recordkeeping requirement, the agencies’ ability to enforce the CLA would be significantly impaired. As noted above, consumers rely upon the disclosures required by the CLA and Regulation M for information to comparison shop among leases, as well as to ascertain the true costs and terms of lease offers. Enforcement agencies and private litigants need the information in these disclosures and other requirements to enforce the CLA and Regulation M. Respondents: Businesses or other forprofits. E:\FR\FM\19JAN1.SGM 19JAN1 mstockstill on DSK4VPTVN1PROD with NOTICES Federal Register / Vol. 77, No. 12 / Thursday, January 19, 2012 / Notices Estimated Total Reporting Burden: 100,000 hours. OMB Number: 3170–0007. Type of Review: Extension. Title: Mortgage Assistance Relief Services (Regulation O) 12 CFR Part 1015. Description: The required disclosures under Regulation O assist prospective purchasers of mortgage assistance relief services (MARS) in making wellinformed decisions and avoiding deceptive and unfair acts and practices. The information that must be kept under Regulation O’s recordkeeping requirements is used by the CFPB and other relevant agencies for enforcement purposes and to ensure compliance by MARS providers with Regulation O. The information is requested only on a caseby-case basis. Respondents: Businesses or other forprofits. Estimated Total Reporting Burden: 32,500 hours. OMB Number: 3170–0008. Type of Review: Extension. Title: Home Mortgage Disclosure Act (Regulation C) 12 CFR Part 1003. Description: The Home Mortgage Disclosure Act (HMDA) requires most mortgage lenders lending in metropolitan areas to collect data about their housing-related lending activity. Annually, lenders must report those data to the appropriate Federal agencies and make the data available to the public. The CFPB’s regulation requires covered financial institutions that meet certain thresholds to maintain data about home loan applications (e.g., the type of loan requested, the purpose of the loan, whether the loan was approved, and the type of purchaser if the loan was later sold), to update the information quarterly, and to report the information annually. The purpose of the information collection is: (i) To help determine whether financial institutions are serving the housing needs of their communities; (ii) to assist public officials in distributing public-sector investment so as to attract private investment to areas where it is needed; and (iii) to assist in identifying possible discriminatory lending patterns and enforcing antidiscrimination statutes. The information collection will assist the CFPB’s examiners, and examiners of other Federal supervisory agencies, in determining that the financial institutions they supervise comply with applicable provisions of HMDA. Respondents: Businesses or other forprofits. Estimated Total Reporting Burden: 154,000 hours. OMB Number: 3170–0009. Type of Review: Extension. VerDate Mar<15>2010 16:21 Jan 18, 2012 Jkt 226001 Title: Mortgage Acts and Practices (Regulation N) 12 CFR Part 1014. Description: The Omnibus Appropriations Act, as clarified by Section 511 of the Credit CARD Act, and as amended by Section 1097 of the Dodd-Frank Act directs the CFPB to issue rules that ‘‘relate to unfair or deceptive acts or practices’’ regarding mortgage loans. Regulation N prohibits misrepresentations about the terms of mortgage credit products in commercial communications and requires that covered persons keep certain related records for a period of twenty-four (24) months from last dissemination. Specifically, Regulation N requires covered persons to retain: (1) Copies of all materially different commercial communications disseminated, including but not limited to sales scripts, training materials, related marketing materials, Web sites, and weblogs; (2) documents describing or evidencing all mortgage credit products available to consumers during the time period in which each commercial communication was disseminated, including but not limited to the names and terms of each such mortgage credit product available to consumers; 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 time period in which each commercial communication was disseminated, including but not limited to the names and terms of each such additional product or service available to consumers. A failure to keep such records is a violation of Regulation N. The information that Regulation N requires covered persons to retain is necessary to ensure efficient and effective law enforcement to address deceptive practices that occur in the mortgage advertising area. To gauge whether covered persons are complying with Regulation N or making prohibited misrepresentations, it is necessary to review the commercial communications that were disseminated and the information about the mortgage credit products and relevant additional products or services available during the time period in which each commercial communication was disseminated. Furthermore, a strong recordkeeping provision is necessary to foster effective enforcement of Regulation N. Respondents: Businesses or other forprofits. Estimated Total Reporting Burden: 1,950,000 hours. This estimation reflects a correction to an error in the reporting burden included in the initial ICR for PO 00000 Frm 00004 Fmt 4703 Sfmt 4703 2687 this collection. The previous submission included the entire burden under Regulation N. The current submission includes only the burden attributable to the CFPB. OMB Number: 3170–0010. Type of Review: Extension. Title: Privacy of Consumer Financial Information (Regulation P) 12 CFR Part 1016. Description: Section 502 of the Gramm-Leach-Bliley Act (GLB Act) (Pub. L. 106–102) generally prohibits a financial institution from sharing nonpublic personal information about a consumer with nonaffiliated third parties unless the institution satisfies various disclosure requirements (including provision of initial privacy notices, annual notices, notices of revisions to the institution’s privacy policy, and opt-out notices) and the consumer has not elected to opt out of the information sharing. The CFPB is promulgating regulations to implement the GLB Act’s notice requirements and restrictions on a financial institution’s ability to disclose nonpublic personal information about consumers to nonaffiliated third parties. Respondents: Businesses or other forprofits. Estimated Total Reporting Burden: 516,000 hours. OMB Number: 3170–0012. Type of Review: Extension. Title: Interstate Land Sales Full Disclosure Act (Regulations J, K, and L) 12 CFR Part 1010. Description: The respondents are land developers (or attorneys or others who work for them). Developers must submit an initial Statement of Record (registration) to the CFPB and receive an effective date before they can offer lots for sale or lease. The Statement of Record includes the proposed property report and additional information and documents that support the developer’s disclosures in the property report. The developer is responsible for ensuring that the registration is accurate and does not omit information needed for a purchaser to make an informed decision. Developers must give purchasers an effective property report before the purchaser signs the sales contract. Developers must submit amendments to their registrations if any information in their initial registration changes. They must also submit a consolidated filing if they offer additional lots for sale. Each year the developer must submit an annual financial statement and an annual report that is prepared in the format required by Section 1010.310 of the regulations. A developer may voluntarily suspend his registration by submitting a E:\FR\FM\19JAN1.SGM 19JAN1 mstockstill on DSK4VPTVN1PROD with NOTICES 2688 Federal Register / Vol. 77, No. 12 / Thursday, January 19, 2012 / Notices Voluntary Suspension form or through the Annual Report. There are no other forms. The CFPB conducts a facial review of the submissions. The developer may request an Advisory Opinion if a developer has questions about the applicability of one of the exemptions from registration. A CFPB determination is required only if a developer claims an exemption from registration under the multiple site or substantial compliance exemption. The other 24 exemptions are selfdetermining. Finally, the CFPB may require additional information from developers in response to investigations of complaints. The Voluntary Suspension form is voluntary and is a convenient way for developers to voluntarily suspend their registration. The form is not required and is not the only way that developers may close their registration. They may also end their registration through their annual report. Respondents: Businesses or other forprofits. Estimated Total Reporting Burden: 34,653 hours. OMB Number: 3170–0013. Type of Review: Extension. Title: Equal Credit Opportunity Act (Regulation B) 12 CFR Part 1002. Description: Federal and state enforcement agencies and private litigants use recordkeeping information to, for example, compare accepted and rejected applicants or the terms and conditions of accepted applicants in order to determine whether applicants are treated less favorably on the basis of race, sex, age, or other prohibited bases under the Equal Credit Opportunity Act (ECOA). Information derived from these records provides an important piece of evidence of law violations in ECOA enforcement actions brought by Federal agencies. Self-testing records (including for corrective action) are used by creditors to identify potential violations and reflect their efforts to correct the problem. Absent the Regulation B requirement that creditors retain monitoring information, the CFPB’s and other agencies’ ability to detect unlawful discrimination and enforce the ECOA would be significantly impaired. The CFPB, other agencies, and private litigants use adverse action notices, appraisal reports, and other information in the application file to compare applicants in order to determine whether any applicants are discriminated against on the basis of race/national origin, sex, marital status, age, or other prohibited bases under the ECOA. The adverse action notice requirement apprises applicants of their rights under the ECOA and of the basis VerDate Mar<15>2010 16:21 Jan 18, 2012 Jkt 226001 for a creditor’s decision. Applicants use their copy of the appraisal to review (and possibly challenge) the accuracy and/or fairness of the information contained within, and to determine the role that the appraisal played in the credit decision. Applicants use the selftesting disclosure to facilitate understanding of creditors’ information collection, including its optionality. Respondents: Businesses or other forprofits. Estimated Total Reporting Burden: 1,502,000 hours. OMB Number: 3170–0014. Type of Review: Extension. Title: Electronic Fund Transfer Act (Regulation E) 12 CFR Part 1005. Description: Federal agencies and private litigants use the records to ascertain whether accurate and complete disclosures of EFT services and other required actions (for example, error resolution and limitation of consumer liability for unauthorized transfers) have been provided. This information will provide the primary evidence of law violations in EFTA enforcement actions brought by the CFPB and other agencies. Without the Regulation E recordkeeping requirement, the agencies’ abilities to enforce the EFTA would be significantly impaired. Consumers rely on the disclosures required by the EFTA and Regulation E to facilitate informed EFT decision making. Without this information, consumers would be severely hindered in their ability to assess the true costs and terms of the transactions offered. Also, without the special error resolution and limitation of consumer liability provisions, consumers would be unable to detect and correct errors in their EFT transactions and fraudulent transfers. These disclosures and provisions are necessary for enforcement agencies to enforce the EFTA and Regulation E. Respondents: Businesses or other forprofits. Estimated Total Reporting Burden: 1,904,000 hours. OMB Number: 3170–0015. Type of Review: Extension. Title: Truth in Lending Act (Regulation Z) 12 CFR Part 1026. Description: Federal and state enforcement agencies and private litigants use records retained under the requirement of Regulation Z to ascertain whether accurate and complete disclosures of the cost of credit have been provided to consumers prior to consummation of the credit obligation and, in some instances, during the loan term. The information is also used to determine whether other actions required under the TILA, including PO 00000 Frm 00005 Fmt 4703 Sfmt 4703 complying with billing error resolution procedures and limitation of consumer liability for unauthorized use of credit, have been met. The information retained provides the primary evidence of law violations in TILA enforcement actions brought by Federal agencies. Without the Regulation Z recordkeeping requirement, the agencies’ ability to enforce the TILA would be significantly impaired. As noted above, consumers rely on the disclosures required by the TILA and Regulation Z to shop among options and to facilitate informed credit decision making. Without this information, consumers would be severely hindered in their ability to assess the true costs and terms of financing offered. Also, without the special billing error information, consumers would be unable to detect and correct errors or fraudulent charges on their open-end credit accounts. Additionally, enforcement agencies and private litigants need the information in these disclosures to enforce the TILA and Regulation Z. See 15 U.S.C. 1607, 1640. Respondents: Businesses or other forprofits. Estimated Total Reporting Burden: 6,467,000 hours. OMB Number: 3170–0016. Type of Review: Extension. Title: Real Estate Settlement Procedures Act (Regulation X) 12 CFR Part 1024. Description: Certain disclosures are required by the Real Estate Settlement Procedures Act (RESPA) of 1974, as amended by Section 461 of the Housing and Urban-Rural Recovery Act of 1983 (HURRA), and other various amendments. Required disclosures include: The Good Faith Estimate (GFE), the Special Information Booklet, the HUD–1/HUD–1A Settlement Statements, the Servicing Disclosure Statement, and, as applicable, the Servicing Transfer Disclosure. Other disclosures may be required under certain circumstances and include: The Initial Escrow Account Statement, the Annual Escrow Account Statement, the Affiliated Business Disclosure, and the Consumer Disclosure for Voluntary Escrow Account Payments. This collection helps to protect consumers in several respects. The Special Information Booklet helps to protect consumers from unnecessarily high settlement costs by providing information about the nature and cost of real estate settlement services. The GFE and HUD–1/HUD–1A Settlement Statements enable consumers to compare estimated settlement costs with actual settlement costs. The Affiliated Business Disclosure helps to protect E:\FR\FM\19JAN1.SGM 19JAN1 Federal Register / Vol. 77, No. 12 / Thursday, January 19, 2012 / Notices borrowers from unnecessarily high settlement service charges due to the settlement service provider’s use of an affiliated provider. Disclosures related to the servicing of the mortgage loan help to protect consumers if the servicing of the loan could be or is transferred. Disclosures related to consumers’ escrow accounts help to protect them from unnecessarily high escrow charges. Respondents: Businesses or other forprofits. Estimated Total Reporting Burden: 17,183,000 hours. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for Office of Management and Budget approval. All comments will become a matter of public record. The public is invited to submit written comments concerning: (a) Whether the collection of information is necessary for the proper performance of the CFPB, including whether the information will have practical utility; (b) the accuracy of the above estimate of the burden of the information collection; (c) ways to enhance the quality, usefulness, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Dated: January 12, 2012. Chris Willey, Chief Information Officer, Consumer Financial Protection Bureau. [FR Doc. 2012–988 Filed 1–18–12; 8:45 am] BILLING CODE 4810–AM–P BUREAU OF CONSUMER FINANANCIAL PROTECTION [Docket No. CFPB–2012–0004] Privacy Act of 1974, as Amended Bureau of Consumer Financial Protection. ACTION: Notice of Proposed Privacy Act System of Records. AGENCY: In accordance with the Privacy Act of 1974, as amended, the Bureau of Consumer Financial Protection, hereinto referred to as the Consumer Financial Protection Bureau (‘‘CFPB’’ or the ‘‘Bureau’’), gives notice of the establishment of a Privacy Act System of Records. DATES: Comments must be received no later than February 21, 2012. The new system of records will be effective February 28, 2012, unless the comments mstockstill on DSK4VPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 16:21 Jan 18, 2012 Jkt 226001 received result in a contrary determination. ADDRESSES: You may submit comments, identified by Docket No. CFPB–2012– 0004, by any of the following methods: • Electronic: http:// www.regulations.gov. Follow the instructions for submitting comments. • Mail or Hand Delivery/Courier in Lieu of Mail: Claire Stapleton, Chief Privacy Officer, Consumer Financial Protection Bureau, 1700 G Street NW., Washington, DC 20006. All submissions must include the agency name and docket number for this notice. In general all comments received will be posted without change to http://www.regulations.gov. In addition, comments will be available for public inspection and copying at 1700 G Street NW., Washington, DC 20006, on official business days between the hours of 10 a.m. and 5 p.m. Eastern Time. You can make an appointment to inspect comments by telephoning (202) 435– 7220. All comments, including attachments and other supporting materials, will become part of the public record and subject to public disclosure. You should submit only information that you wish to make available publicly. FOR FURTHER INFORMATION CONTACT: Claire Stapleton, Chief Privacy Officer, Consumer Financial Protection Bureau; 1700 G Street NW., Washington, DC 20006, (202) 435–7220. SUPPLEMENTARY INFORMATION: The DoddFrank Wall Street Reform and Consumer Protection Act (‘‘Act’’), Public Law 111– 203, Title X, established the CFPB to administer and enforce Federal consumer financial protection law. The CFPB will maintain the records covered by this notice. The new system of records described in this notice ‘‘CFPB.013 –CFPB External Contact Database’’ will maintain records concerning the activities and operations of the CFPB’s external affairs activities. The report of the new system of records has been submitted to the Committee on Oversight and Government Reform of the House of Representatives, the Committee on Homeland Security and Governmental Affairs of the Senate, and the Office of Management and Budget, pursuant to Appendix I to OMB Circular A–130, ‘‘Federal Agency Responsibilities for Maintaining Records About Individuals,’’ dated November 30, 2000, and the Privacy Act, 5 U.S.C. 552a(r). The system of records entitled ‘‘CFPB.013—CFPB External Contact Database’’ is published in its entirety below. PO 00000 Frm 00006 Fmt 4703 Sfmt 4703 2689 Dated: January 13, 2012. Claire Stapleton, Chief Privacy Officer. CFPB.013 SYSTEM NAME: CFPB External Contact Database. SYSTEM LOCATION: Consumer Financial Protection Bureau, 1700 G Street NW., Washington DC, 20006. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM: Individuals covered by this system include all individuals involved in CFPB communications with external affairs related activities, (1) Media representatives (including, without limitations, newspaper, magazine, radio or television station, wire service, or any other form of media) who request interviews or meetings with the CFPB staff; (2) individuals who accompany the CFPB staff on official travel; (3) individuals who request building passes for access to the CFPB facility (including, without limitations, media representatives, correspondents, technicians, and/or producers); (4) individuals who request information from the CFPB Communications Office concerning specific issues and/or topics; (5) individuals who have been contacted for media events, interviews or meetings, occasions, invitations, travel opportunities or the placement of articles; (6) individuals on the mailing list for the CFPB speeches or updates; (7) individuals who request the CFPB accept a speaking engagement, accept an honor, attend a function, or request information about the CFPB, and its mission and/or policies, etc.; (8) individuals who have participated in a survey or focus group sponsored by the CFPB; (9) CFPB contacts of nongovernmental organizations throughout the United States (media, external affairs, educational, etc.); (10) officials of Federal, state and local governments; (11) present and past CFPB staff (assignment history); (12) CFPB staff authorized to perform domestic speaking/media engagements; and (13) CFPB staff involved external affairs related communications. CATEGORIES OF RECORDS IN THE SYSTEM: Records in the system will include information related to communications with external affairs contacts. Such records include: (1) Contact information (name, business phone number, email address) for individuals who are involved in the operation of the CFPB’s external affairs activities; (2) domestic travel records, including dates, places E:\FR\FM\19JAN1.SGM 19JAN1

Agencies

[Federal Register Volume 77, Number 12 (Thursday, January 19, 2012)]
[Notices]
[Pages 2685-2689]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-988]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2012-0002]


Agency Information Collection Activities; Renewal of Currently 
Approved Collections; Comment Request

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for comment.

-----------------------------------------------------------------------

SUMMARY: The Bureau of Consumer Financial Protection (CFPB or the 
Bureau) is soliciting comments concerning the currently approved 
information collections associated with certain recently published 
interim final rules. This notice is published by the CFPB as part of 
its continuing effort to reduce paperwork and respondent burden. The 
public and other Federal agencies are invited to take this opportunity 
to comment on this information collection, as required by the Paperwork 
Reduction Act of 1995, Public Law 104-13.

DATES: Comments must be received on or before March 19, 2012 to be 
assured of consideration.

ADDRESSES: You may submit comments, identified by docket number CFPB-
2012-0002 and the relevant OMB control numbers listed below, by any of 
the following methods:
     Electronic: http://www.regulations.gov. Follow the 
instructions for submitting comments.

[[Page 2686]]

     Mail: Chris Willey, Consumer Financial Protection Bureau, 
1700 G Street NW., Washington, DC 20006.
     Hand Delivery/Courier in Lieu of Mail: Chris Willey, 
Consumer Financial Protection Bureau, 1700 G Street NW., Washington, DC 
20006.
    In general, all comments will be posted without change to http://www.regualtions.gov. In addition, comments will be available for public 
inspection and copying at 1700 G Street NW., Washington, DC 20006, on 
official business days between the hours of 10 a.m. and 5 p.m. Eastern 
Time. You can make an appointment to inspect the documents by 
telephoning (202) 435-7275. All comments, including attachments and 
other supporting materials, will become part of the public record and 
subject to public disclosure. Sensitive personal information, such as 
account numbers or social security numbers, should not be included. 
Comments will not be edited to remove any identifying or contact 
information.

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
may be obtained by contacting Chris Willey, Chief Information Officer, 
Consumer Financial Protection Bureau, 1700 G Street, Washington, DC 
20006.

SUPPLEMENTARY INFORMATION: Title X of the Dodd-Frank Wall Street Reform 
and Consumer Protection Act (Dodd-Frank Act) transferred rulemaking 
authority for a number of consumer financial protection laws from seven 
Federal agencies to the CFPB as of July 21, 2011.\1\ In December 2011, 
the CFPB republished the regulations implementing those laws with 
technical and conforming changes to reflect the transfer of authority 
and certain other changes made by the Dodd-Frank Act. Prior to the 
republication, the CFPB obtained emergency approvals from the Office of 
Management and Budget (OMB) for the information collections for which 
the CFPB had administrative enforcement authority under these 
regulations.
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    \1\ The seven Federal agencies are the Board of Governors 
(Board), the Federal Deposit Insurance Corporation (FDIC), the 
Federal Trade Commission (FTC), the National Credit Union 
Administration (NCUA), the Office of the Comptroller of the Currency 
(OCC), the Office of Thrift Supervision (OTS), and the Department of 
Housing and Urban Development (HUD) (collectively, the transferor 
agencies). See Section 1061(a)(2) of the Dodd-Frank Act.
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    The burden hours associated with the collections identified below 
are not new burden hours. Rather, they are transfers of burden hours 
from the transferor agencies. In obtaining emergency approval, the 
CFPB's estimates of the burden of the following information collections 
were based on the assumption that the total ongoing burden for these 
regulations, across all agencies, remained the same as it was before 
the regulations were restated by the CFPB. Furthermore, the CFPB 
primarily relied on the estimates previously developed by the 
transferor agencies concerning the number of entities subject to the 
regulations and the hours of paperwork burden under the statutes. To 
comply with the requirements under 44 U.S.C. 3506, the CFPB requests 
public comment on the following collections:
    OMB Number: 3170-0002.
    Type of Review: Extension.
    Title: Fair Credit Reporting Act (Regulation V) 12 CFR Part 1022.
    Description: The consumer disclosures included in Regulation V are 
designed to alert consumers that a financial institution furnished 
negative information about them to a consumer reporting agency, that 
they have a right to opt out of receiving marketing materials and 
credit or insurance offers, that their credit report was used in 
setting the material terms of credit that may be less favorable than 
the terms offered to consumers with better credit histories, that they 
maintain certain rights with respect to a theft of their identity that 
they reported to a consumer reporting agency, that they maintain rights 
with respect to knowing what is in their consumer reporting agency 
file, that they can request a free credit report, and that they can 
report a theft of their identity to the CFPB. Consumers then can use 
the information provided to consider how and when to check and use 
their credit reports. These disclosures are substantially the same as 
those previously provided by model forms promulgated by the Board, the 
FDIC, the NCUA, the OCC, the OTS and the FTC.
    Respondents: Businesses or other for-profits.
    Estimated Total Reporting Burden: 4,737,000 hours.
    OMB Number: 3170-0004.
    Type of Review: Extension.
    Title: Truth in Savings (Regulation DD) 12 CFR 1030.
    Description: Federal agencies use the records to ascertain whether 
accurate and complete disclosures of depository accounts have been 
provided to consumers. This information also provides the primary 
evidence of law violations in Truth in Savings (TISA) enforcement 
actions brought by the CFPB and other agencies. Without the Regulation 
DD recordkeeping requirement, the agencies' abilities to enforce TISA 
would be significantly impaired. Consumers rely on the disclosures 
required by TISA and Regulation DD to facilitate informed 
decisionmaking regarding deposit accounts offered at depository 
institutions. Without this information, consumers would be severely 
hindered in their ability to assess the true costs and terms of the 
deposit accounts offered. These disclosures and provisions are 
necessary for the enforcement agencies to enforce TISA and Regulation 
DD.
    Respondents: Businesses or other for-profits.
    Estimated Total Reporting Burden: 23,000 hours.
    OMB Number: 3170-0005.
    Type of Review: Extension.
    Title: Secure and Fair Enforcement for Mortgage Licensing Act 
(Regulation G) 12 CFR Part 1007.
    Description: The information collection will improve the flow of 
information to and between regulators; provide accountability and 
tracking of mortgage loan originators (MLOs), enhance consumer 
protections, reduce fraud in the residential mortgage loan origination 
process and provide consumers with easily accessible information at no 
charge regarding the employment history of, and publicly adjudicated 
disciplinary and enforcement actions against, MLOs.
    Respondents: Businesses or other for-profits.
    Estimated Total Reporting Burden: 15,000 hours.
    OMB Number: 3170-0006.
    Type of Review: Extension.
    Title: Consumer Leasing Act (Regulation M) 12 CFR Part 1013.
    Description: Federal and state enforcement and private litigants 
use the records to ascertain whether accurate and complete disclosures 
of the cost of leases have been provided to consumers prior to 
consummation of the lease. This information provides the primary 
evidence of law violations in Consumer Leasing Act (CLA) enforcement 
actions brought by Federal agencies. Without Regulation M's 
recordkeeping requirement, the agencies' ability to enforce the CLA 
would be significantly impaired. As noted above, consumers rely upon 
the disclosures required by the CLA and Regulation M for information to 
comparison shop among leases, as well as to ascertain the true costs 
and terms of lease offers. Enforcement agencies and private litigants 
need the information in these disclosures and other requirements to 
enforce the CLA and Regulation M.
    Respondents: Businesses or other for-profits.

[[Page 2687]]

    Estimated Total Reporting Burden: 100,000 hours.
    OMB Number: 3170-0007.
    Type of Review: Extension.
    Title: Mortgage Assistance Relief Services (Regulation O) 12 CFR 
Part 1015.
    Description: The required disclosures under Regulation O assist 
prospective purchasers of mortgage assistance relief services (MARS) in 
making well-informed decisions and avoiding deceptive and unfair acts 
and practices. The information that must be kept under Regulation O's 
recordkeeping requirements is used by the CFPB and other relevant 
agencies for enforcement purposes and to ensure compliance by MARS 
providers with Regulation O. The information is requested only on a 
case-by-case basis.
    Respondents: Businesses or other for-profits.
    Estimated Total Reporting Burden: 32,500 hours.
    OMB Number: 3170-0008.
    Type of Review: Extension.
    Title: Home Mortgage Disclosure Act (Regulation C) 12 CFR Part 
1003.
    Description: The Home Mortgage Disclosure Act (HMDA) requires most 
mortgage lenders lending in metropolitan areas to collect data about 
their housing-related lending activity. Annually, lenders must report 
those data to the appropriate Federal agencies and make the data 
available to the public. The CFPB's regulation requires covered 
financial institutions that meet certain thresholds to maintain data 
about home loan applications (e.g., the type of loan requested, the 
purpose of the loan, whether the loan was approved, and the type of 
purchaser if the loan was later sold), to update the information 
quarterly, and to report the information annually. The purpose of the 
information collection is: (i) To help determine whether financial 
institutions are serving the housing needs of their communities; (ii) 
to assist public officials in distributing public-sector investment so 
as to attract private investment to areas where it is needed; and (iii) 
to assist in identifying possible discriminatory lending patterns and 
enforcing antidiscrimination statutes. The information collection will 
assist the CFPB's examiners, and examiners of other Federal supervisory 
agencies, in determining that the financial institutions they supervise 
comply with applicable provisions of HMDA.
    Respondents: Businesses or other for-profits.
    Estimated Total Reporting Burden: 154,000 hours.
    OMB Number: 3170-0009.
    Type of Review: Extension.
    Title: Mortgage Acts and Practices (Regulation N) 12 CFR Part 1014.
    Description: The Omnibus Appropriations Act, as clarified by 
Section 511 of the Credit CARD Act, and as amended by Section 1097 of 
the Dodd-Frank Act directs the CFPB to issue rules that ``relate to 
unfair or deceptive acts or practices'' regarding mortgage loans. 
Regulation N prohibits misrepresentations about the terms of mortgage 
credit products in commercial communications and requires that covered 
persons keep certain related records for a period of twenty-four (24) 
months from last dissemination. Specifically, Regulation N requires 
covered persons to retain: (1) Copies of all materially different 
commercial communications disseminated, including but not limited to 
sales scripts, training materials, related marketing materials, Web 
sites, and weblogs; (2) documents describing or evidencing all mortgage 
credit products available to consumers during the time period in which 
each commercial communication was disseminated, including but not 
limited to the names and terms of each such mortgage credit product 
available to consumers; 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 time period 
in which each commercial communication was disseminated, including but 
not limited to the names and terms of each such additional product or 
service available to consumers. A failure to keep such records is a 
violation of Regulation N. The information that Regulation N requires 
covered persons to retain is necessary to ensure efficient and 
effective law enforcement to address deceptive practices that occur in 
the mortgage advertising area. To gauge whether covered persons are 
complying with Regulation N or making prohibited misrepresentations, it 
is necessary to review the commercial communications that were 
disseminated and the information about the mortgage credit products and 
relevant additional products or services available during the time 
period in which each commercial communication was disseminated. 
Furthermore, a strong recordkeeping provision is necessary to foster 
effective enforcement of Regulation N.
    Respondents: Businesses or other for-profits.
    Estimated Total Reporting Burden: 1,950,000 hours. This estimation 
reflects a correction to an error in the reporting burden included in 
the initial ICR for this collection. The previous submission included 
the entire burden under Regulation N. The current submission includes 
only the burden attributable to the CFPB.
    OMB Number: 3170-0010.
    Type of Review: Extension.
    Title: Privacy of Consumer Financial Information (Regulation P) 12 
CFR Part 1016.
    Description: Section 502 of the Gramm-Leach-Bliley Act (GLB Act) 
(Pub. L. 106-102) generally prohibits a financial institution from 
sharing nonpublic personal information about a consumer with 
nonaffiliated third parties unless the institution satisfies various 
disclosure requirements (including provision of initial privacy 
notices, annual notices, notices of revisions to the institution's 
privacy policy, and opt-out notices) and the consumer has not elected 
to opt out of the information sharing. The CFPB is promulgating 
regulations to implement the GLB Act's notice requirements and 
restrictions on a financial institution's ability to disclose nonpublic 
personal information about consumers to nonaffiliated third parties.
    Respondents: Businesses or other for-profits.
    Estimated Total Reporting Burden: 516,000 hours.
    OMB Number: 3170-0012.
    Type of Review: Extension.
    Title: Interstate Land Sales Full Disclosure Act (Regulations J, K, 
and L) 12 CFR Part 1010.
    Description: The respondents are land developers (or attorneys or 
others who work for them). Developers must submit an initial Statement 
of Record (registration) to the CFPB and receive an effective date 
before they can offer lots for sale or lease. The Statement of Record 
includes the proposed property report and additional information and 
documents that support the developer's disclosures in the property 
report. The developer is responsible for ensuring that the registration 
is accurate and does not omit information needed for a purchaser to 
make an informed decision. Developers must give purchasers an effective 
property report before the purchaser signs the sales contract. 
Developers must submit amendments to their registrations if any 
information in their initial registration changes. They must also 
submit a consolidated filing if they offer additional lots for sale. 
Each year the developer must submit an annual financial statement and 
an annual report that is prepared in the format required by Section 
1010.310 of the regulations. A developer may voluntarily suspend his 
registration by submitting a

[[Page 2688]]

Voluntary Suspension form or through the Annual Report. There are no 
other forms. The CFPB conducts a facial review of the submissions. The 
developer may request an Advisory Opinion if a developer has questions 
about the applicability of one of the exemptions from registration. A 
CFPB determination is required only if a developer claims an exemption 
from registration under the multiple site or substantial compliance 
exemption. The other 24 exemptions are self-determining. Finally, the 
CFPB may require additional information from developers in response to 
investigations of complaints. The Voluntary Suspension form is 
voluntary and is a convenient way for developers to voluntarily suspend 
their registration. The form is not required and is not the only way 
that developers may close their registration. They may also end their 
registration through their annual report.
    Respondents: Businesses or other for-profits.
    Estimated Total Reporting Burden: 34,653 hours.
    OMB Number: 3170-0013.
    Type of Review: Extension.
    Title: Equal Credit Opportunity Act (Regulation B) 12 CFR Part 
1002.
    Description: Federal and state enforcement agencies and private 
litigants use recordkeeping information to, for example, compare 
accepted and rejected applicants or the terms and conditions of 
accepted applicants in order to determine whether applicants are 
treated less favorably on the basis of race, sex, age, or other 
prohibited bases under the Equal Credit Opportunity Act (ECOA). 
Information derived from these records provides an important piece of 
evidence of law violations in ECOA enforcement actions brought by 
Federal agencies. Self-testing records (including for corrective 
action) are used by creditors to identify potential violations and 
reflect their efforts to correct the problem. Absent the Regulation B 
requirement that creditors retain monitoring information, the CFPB's 
and other agencies' ability to detect unlawful discrimination and 
enforce the ECOA would be significantly impaired. The CFPB, other 
agencies, and private litigants use adverse action notices, appraisal 
reports, and other information in the application file to compare 
applicants in order to determine whether any applicants are 
discriminated against on the basis of race/national origin, sex, 
marital status, age, or other prohibited bases under the ECOA. The 
adverse action notice requirement apprises applicants of their rights 
under the ECOA and of the basis for a creditor's decision. Applicants 
use their copy of the appraisal to review (and possibly challenge) the 
accuracy and/or fairness of the information contained within, and to 
determine the role that the appraisal played in the credit decision. 
Applicants use the self-testing disclosure to facilitate understanding 
of creditors' information collection, including its optionality.
    Respondents: Businesses or other for-profits.
    Estimated Total Reporting Burden: 1,502,000 hours.
    OMB Number: 3170-0014.
    Type of Review: Extension.
    Title: Electronic Fund Transfer Act (Regulation E) 12 CFR Part 
1005.
    Description: Federal agencies and private litigants use the records 
to ascertain whether accurate and complete disclosures of EFT services 
and other required actions (for example, error resolution and 
limitation of consumer liability for unauthorized transfers) have been 
provided. This information will provide the primary evidence of law 
violations in EFTA enforcement actions brought by the CFPB and other 
agencies. Without the Regulation E recordkeeping requirement, the 
agencies' abilities to enforce the EFTA would be significantly 
impaired. Consumers rely on the disclosures required by the EFTA and 
Regulation E to facilitate informed EFT decision making. Without this 
information, consumers would be severely hindered in their ability to 
assess the true costs and terms of the transactions offered. Also, 
without the special error resolution and limitation of consumer 
liability provisions, consumers would be unable to detect and correct 
errors in their EFT transactions and fraudulent transfers. These 
disclosures and provisions are necessary for enforcement agencies to 
enforce the EFTA and Regulation E.
    Respondents: Businesses or other for-profits.
    Estimated Total Reporting Burden: 1,904,000 hours.
    OMB Number: 3170-0015.
    Type of Review: Extension.
    Title: Truth in Lending Act (Regulation Z) 12 CFR Part 1026.
    Description: Federal and state enforcement agencies and private 
litigants use records retained under the requirement of Regulation Z to 
ascertain whether accurate and complete disclosures of the cost of 
credit have been provided to consumers prior to consummation of the 
credit obligation and, in some instances, during the loan term. The 
information is also used to determine whether other actions required 
under the TILA, including complying with billing error resolution 
procedures and limitation of consumer liability for unauthorized use of 
credit, have been met. The information retained provides the primary 
evidence of law violations in TILA enforcement actions brought by 
Federal agencies. Without the Regulation Z recordkeeping requirement, 
the agencies' ability to enforce the TILA would be significantly 
impaired. As noted above, consumers rely on the disclosures required by 
the TILA and Regulation Z to shop among options and to facilitate 
informed credit decision making. Without this information, consumers 
would be severely hindered in their ability to assess the true costs 
and terms of financing offered. Also, without the special billing error 
information, consumers would be unable to detect and correct errors or 
fraudulent charges on their open-end credit accounts. Additionally, 
enforcement agencies and private litigants need the information in 
these disclosures to enforce the TILA and Regulation Z. See 15 U.S.C. 
1607, 1640.
    Respondents: Businesses or other for-profits.
    Estimated Total Reporting Burden: 6,467,000 hours.
    OMB Number: 3170-0016.
    Type of Review: Extension.
    Title: Real Estate Settlement Procedures Act (Regulation X) 12 CFR 
Part 1024.
    Description: Certain disclosures are required by the Real Estate 
Settlement Procedures Act (RESPA) of 1974, as amended by Section 461 of 
the Housing and Urban-Rural Recovery Act of 1983 (HURRA), and other 
various amendments. Required disclosures include: The Good Faith 
Estimate (GFE), the Special Information Booklet, the HUD-1/HUD-1A 
Settlement Statements, the Servicing Disclosure Statement, and, as 
applicable, the Servicing Transfer Disclosure. Other disclosures may be 
required under certain circumstances and include: The Initial Escrow 
Account Statement, the Annual Escrow Account Statement, the Affiliated 
Business Disclosure, and the Consumer Disclosure for Voluntary Escrow 
Account Payments. This collection helps to protect consumers in several 
respects. The Special Information Booklet helps to protect consumers 
from unnecessarily high settlement costs by providing information about 
the nature and cost of real estate settlement services. The GFE and 
HUD-1/HUD-1A Settlement Statements enable consumers to compare 
estimated settlement costs with actual settlement costs. The Affiliated 
Business Disclosure helps to protect

[[Page 2689]]

borrowers from unnecessarily high settlement service charges due to the 
settlement service provider's use of an affiliated provider. 
Disclosures related to the servicing of the mortgage loan help to 
protect consumers if the servicing of the loan could be or is 
transferred. Disclosures related to consumers' escrow accounts help to 
protect them from unnecessarily high escrow charges.
    Respondents: Businesses or other for-profits.
    Estimated Total Reporting Burden: 17,183,000 hours.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for Office of 
Management and Budget approval. All comments will become a matter of 
public record. The public is invited to submit written comments 
concerning: (a) Whether the collection of information is necessary for 
the proper performance of the CFPB, including whether the information 
will have practical utility; (b) the accuracy of the above estimate of 
the burden of the information collection; (c) ways to enhance the 
quality, usefulness, and clarity of the information to be collected; 
and (d) ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology.

    Dated: January 12, 2012.
Chris Willey,
Chief Information Officer, Consumer Financial Protection Bureau.
[FR Doc. 2012-988 Filed 1-18-12; 8:45 am]
BILLING CODE 4810-AM-P