Agency Information Collection Activities; Proposed Collection; Comment Request; Extension, 16265-16268 [2013-05862]

Download as PDF Federal Register / Vol. 78, No. 50 / Thursday, March 14, 2013 / Notices Description of FDIC Dodd Frank Annual Stress Test (DFAST) Scenario Variables Template To conduct the stress test required under this rule, a covered bank may need to project additional economic and financial variables to estimate losses or revenues for some or all of its portfolios. In such a case, the covered bank is required to complete a DFAST Scenario Variables worksheet for each scenario where such additional variables are used to conduct the stress test. Each scenario worksheet collects the variable name (matching that reported on the Scenario Variable Definitions worksheet), the actual value of the variable during the third quarter of the reporting year, and the projected value of the variable for nine future quarters. tkelley on DSK3SPTVN1PROD with NOTICES Description of Supporting Documentation Covered banks with total consolidated assets of $10 billion to $50 billion must submit clear documentation of the projections included in the worksheets to support efficient and timely review of annual stress test results by the FDIC. The supporting documentation should be submitted electronically and is not expected to be reported in the workbooks used for required data reporting. This supporting documentation must describe the types of risks included in the stress test; describe clearly the methodology used to produce the stress test projections; describe the methods used to translate the macroeconomic factors into a covered bank’s projections; and also include an explanation of the most significant causes for the changes in regulatory capital ratios. The supporting documentation also should address the impact of anticipated corporate events, including mergers, acquisitions or divestitures of business lines or entities, and changes in strategic direction, and should describe how such changes are reflected in stress test results, including the impact on estimates of losses, expenses and revenues, net interest margins, non-interest income items, and balance sheet amounts. Where company-specific assumptions are made that differ from the broad macroeconomic assumptions incorporated in stress scenarios provided by the FDIC, the documentation must also describe such assumptions and how those assumptions relate to reported projections. Where historical relationships are relied upon, the covered banks must describe the historical data and provide the basis for the expectation that these relationships VerDate Mar<15>2010 16:51 Mar 13, 2013 Jkt 229001 16265 would be maintained in each scenario, particularly under adverse and severely adverse conditions. Type of Review: New collection. Affected Public: State nonmember banks and state savings associations supervised by the FDIC with total consolidated assets of $10 billion to $50 billion. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. Burden Estimates Sunshine Act Meeting The FDIC estimates the burden of this collection of information as follows: Estimated Number of Respondents: 22. Estimated Annual Burden per Respondent: 464 hours. Estimated Total Annual Burden: 10,208 hours. The burden for each $10 billion to $50 billion covered bank that completes the $10B–$50B results template is estimated to be 440 hours for a total of 9,680 hours. This burden includes 20 hours to input these data and 420 hours for work related to modeling efforts. The estimated burden for each $10 billion to $50 billion covered bank that completes the annual DFAST Scenarios Variables Template is estimated to be 24 hours for a total of 528 hours. The start-up burden for new respondents is estimated to be 93,600 hours and ongoing revisions for existing firms, 4,160 hours. Comments submitted in response to this notice will be summarized and included in the request for OMB approval. All comments will be a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the FDIC, including whether the information has practical utility; (b) The accuracy of the FDIC’s estimate of the burden of the collection of information; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; (d) Ways to minimize the burden of the collection on respondents, including through the use of automated collection techniques or other forms of information technology; (e) Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information; and (f) The ability of FDIC-supervised banks and thrifts with assets between $10 billion and $50 billion to provide the requested information to the FDIC by March 31, 2014. Dated at Washington, DC, this 7th day of March 2013. PO 00000 Frm 00023 Fmt 4703 Sfmt 4703 [FR Doc. 2013–05914 Filed 3–13–13; 8:45 am] BILLING CODE 6714–01–P FEDERAL ELECTION COMMISSION AGENCY: Federal Election Commission. FEDERAL REGISTER CITATION OF PREVIOUS ANNOUNCMENT —78 FR 14791 (March 7, 2013) Tuesday, March 12, 2013 at 10:00 a.m. PLACE: 999 E Street NW., Washington, DC. STATUS: This meeting will be closed to the public. CHANGES IN THE MEETING —The March 12, 2013 meeting will be continued on Thursday, March 14, 2013. PERSON TO CONTACT FOR INFORMATION: Judith Ingram, Press Officer, Telephone: (202) 694–1220. DATE AND TIME: Shelley E. Garr, Deputy Secretary of the Commission. [FR Doc. 2013–05959 Filed 3–12–13; 11:15 am] BILLING CODE 6715–01–P 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 through June 30, 2016, the current Paperwork Reduction Act (‘‘PRA’’) clearance for the FTC’s enforcement of the information collection requirements in its regulation ‘‘Duties of Furnishers of Information to Consumer Reporting Agencies’’ (‘‘Information Furnishers Rule’’), which applies to certain motor vehicle dealers, and its shared enforcement with the Consumer Financial Protection Bureau (‘‘CFPB’’) of the furnisher provisions (subpart E) of the CFPB’s Regulation V regarding other entities. That clearance expires on June 30, 2013. DATES: Comments must be filed by May 13, 2013. 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 SUMMARY: E:\FR\FM\14MRN1.SGM 14MRN1 16266 Federal Register / Vol. 78, No. 50 / Thursday, March 14, 2013 / Notices below. Write ‘‘Information Furnishers Rule, PRA Comment, P135407,’’ on your comment and file your comment online at https://ftcpublic.commentworks.com/ ftc/infofurnishersrulepra by following the instructions on the web-based form. If you prefer to file your comment on paper, mail or deliver your comment to the following address: Federal Trade Commission, Office of the Secretary, Room H–113 (Annex J), 600 Pennsylvania Avenue NW., Washington, DC 20580. FOR FURTHER INFORMATION CONTACT: Monique Einhorn, Attorney, Division of Privacy and Identity Protection, Bureau of Consumer Protection, (202) 326– 2575, 600 Pennsylvania Ave. NW., Room NJ–8100, 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 furnisher provisions of the Fair Credit Reporting Act (‘‘FCRA’’),2 on July 21, 2011.3 For certain other portions of the FCRA, the FTC retains its rulemaking authority.4 The FTC retains rulemaking authority for its Information Furnishers 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.5 In addition, the FTC retains its authority to enforce the furnisher provisions of the FCRA and the FTC and CFPB rules issued under those provisions. Thus, the FTC and CFPB have overlapping enforcement authority for many entities subject to the CFPB rule and the FTC has sole enforcement 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 The Dodd-Frank Act does not transfer to the CFPB rulemaking authority for FCRA sections 615(e) (‘‘Red Flag Guidelines and Regulations Required’’) and 628 (‘‘Disposal of Records’’). See 15 U.S.C. 1681s(e); Public Law 111–203, section 1088(a)(10)(E). Accordingly, the Commission retains full rulemaking authority for its ‘‘Identity Theft Rules,’’ 16 CFR part 681, and its rules governing ‘‘Disposal of Consumer Report Information and Records,’’ 16 CFR part 682. See 15 U.S.C. 1681m, 1681w. 5 See Dodd-Frank Act, § 1029(a), (c). tkelley on DSK3SPTVN1PROD with NOTICES 2 15 VerDate Mar<15>2010 16:51 Mar 13, 2013 Jkt 229001 authority for the motor vehicle dealers subject to the FTC rule. On December 21, 2011, the CFPB issued its interim final FCRA rule, including the furnisher provisions (subpart E) of CFPB’s Regulation V.6 Contemporaneous with that issuance, the CFPB and FTC had each submitted to OMB, and received its approval for, the agencies’ respective burden estimates reflecting their overlapping enforcement jurisdiction, with the FTC supplementing its estimates for the enforcement authority exclusive to it regarding the class of motor vehicle dealers noted above. The discussion below continues that analytical framework, as appropriately updated or otherwise refined for instant purposes. Burden Statement Under the PRA, 44 U.S.C. 3501–3521, Federal agencies must get OMB approval for each collection of information they conduct or sponsor. ‘‘Collection of information’’ includes agency requests or requirements to submit reports, keep records, or provide information to a third party. 44 U.S.C. 3502(3); 5 CFR 1320.3(c). The FTC is seeking clearance for its assumed share of the estimated PRA burden regarding the disclosure requirements under the FTC and CFPB Rules. Under section 660.3 of the FTC’s Information Furnishers Rule 7 and section 1022.42 of the CFPB Rule,8 furnishers must establish and implement reasonable written policies and procedures regarding the accuracy and integrity of the information relating to consumers that they furnish to a consumer reporting agency (‘‘CRA’’).9 Section 660.4 of the FTC Rule and section 1022.43 of the CFPB Rule require that entities which furnish information about consumers to a CRA respond to direct disputes from consumers. These provisions also require that a furnisher notify consumers by mail or other means (if authorized by the consumer) within five business days after making a 6 76 FR 79308 (Dec. 21, 2011). CFR part 660. 8 12 CFR part 1022. 9 The rule defines a ‘‘furnisher’’ as an entity that furnishes information relating to consumers to one or more CRAs for inclusion in a consumer report, but provides that an entity is not a furnisher when it: Provides information to a CRA solely to obtain a consumer report for a permissible purpose under the FCRA; is acting as a CRA as defined in section 603(f) of the FCRA; is an individual consumer to whom the furnished information pertains; or is a neighbor, friend, or associate of the consumer, or another individual with whom the consumer is acquainted or who may have knowledge about the consumer’s character, general reputation, personal characteristics, or mode of living in response to a specific request from a CRA. 7 16 PO 00000 Frm 00024 Fmt 4703 Sfmt 4703 determination that a dispute is frivolous or irrelevant (‘‘F/I dispute’’). The FTC’s currently cleared burden totals, post-adjustment for the effects of the Dodd-Frank Act, are 61,034 hours with $2,440,575 in associated labor costs.10 Estimated capital/non-labor costs remain listed as $0 because Commission staff had reiterated its belief that the Rule imposes negligible capital or other non-labor costs, as the affected entities are already likely to have the necessary supplies and/or equipment (e.g., offices and computers) for the information collections within the Rule. The past burden analysis, tied to when the Rule was newly promulgated, accounted for one-time burdens particular to the first year of the Rule’s implementation and a relatively greater weighting of burden within that first year for certain recurring obligations under the Rule. Now, however, with several years having passed since inception, FTC staff’s updated estimates reflect solely the remaining recurring burdens, as further reduced for the educational curve and diminishing measures needed to maintain compliance with the Rule. Thus, using solely the currently cleared estimates (post-adjustment for the effects of the Dodd-Frank Act) of the number of applicable motor vehicle dealers and their assumed recurring disclosure burdens, the FTC proposes the following: Estimated number of respondents: 3,986.11 10 OMB Control No. 3084–0144. the broad scope of furnishers, it is difficult to determine precisely the number of them that are subject to the FTC’s jurisdiction. Nonetheless, Commission staff estimated that the regulations affect approximately 6,133 such furnishers. See 74 FR 31484, 31505 n. 56 (July 1, 2009 FTC and Federal financial agencies final rules). It is equally difficult to determine precisely the number of motor vehicle dealers that furnish information related to consumers to a CRA for inclusion in a consumer report. For purposes of estimating its motor vehicle dealer furnisher carveout, the FTC has assumed that 30% of the 6,133 furnishers, or 1,840 furnishers, constitute the number of motor vehicle dealers over which the FTC retains exclusive jurisdiction under the DoddFrank Act. To derive this 30% estimate, Commission staff divided an estimated number of car dealers—55,417 (based on industry data for the number of franchise/new car and independent/used car dealers) by 199,500 (Commission staff’s PRA estimate of the number of entities that extend credit to consumers subject to FTC jurisdiction under the FCRA, pre-Dodd-Frank, for the Risk-Based Pricing regulations, as detailed at 75 FR 2724, 2748 n.18 (Jan. 15, 2010)). This came out to 28%. Staff increased this amount to 30% to account for other motor vehicle dealer types (motorbikes, boats, other recreational) also covered within the definition of ‘‘motor vehicle dealer’’ under section 1029(a) of the Dodd-Frank Act. The resulting apportionment for motor vehicle dealers was subtracted from the base figure (6,133) to determine the net amount (4,293) 11 Given E:\FR\FM\14MRN1.SGM 14MRN1 Federal Register / Vol. 78, No. 50 / Thursday, March 14, 2013 / Notices Section 660.3 of FTC Rule/Section 1022.42 of CFPB Rule A. Burden Hours Yearly recurring burden of 2 hours for training 12 to help ensure continued compliance regarding written policies and procedures for the accuracy and integrity of the information furnished to a CRA about consumers. 3,986 respondents × 2 hours for training = 7,972 hours. B. Labor Costs Labor costs are derived by applying appropriate estimated hourly cost figures to the burden hours described above. The FTC assumes that respondents will use managerial and/or professional technical personnel to train company employees in order to foster continued compliance with the information collection requirements in the Information Furnishers Rule and the furnisher provisions of Regulation V. 7,972 hours × $47.73 13 = $380,503. tkelley on DSK3SPTVN1PROD with NOTICES A. Burden Hours No recurring burden other than that necessary to prepare and distribute F/I notices (estimate: 14 minutes per notice 14). 1. 21,720 F/I disputes (estimated number received by furnishers under the FTC’s jurisdiction 15). 2. ‘‘Carve-out’’ to FTC: assumed 4% 16 = 869 F/I disputes. subject to 50:50 apportionment (approximately 2,146 each) between the FTC and CFPB. Thus, 1,840 motor vehicle dealers + 2,146 other entities = 3,986 respondents for the FTC’s burden calculations. 12 74 FR at 31505. 13 http://www.bls.gov/news.release/archives/ ocwage_03272012.pdf: ‘‘Occupational Employment and Wages—May 2011,’’ Bureau of Labor Statistics, U.S. Department of Labor, released March 2012, Table 1 (‘‘National employment and wage data from the Occupational Employment Statistics survey by occupation, May 2011’’) (hereinafter, ‘‘BLS Table 1’’). See mean hourly wage for ‘‘Training and Development Managers.’’ 14 74 FR at 31505. 15 Id. at 31506 n. 58. 16 FTC staff believes that 4% is a reasonable estimate based on recent data. See ‘‘Key Dimensions and Processes in the U.S. Credit Reporting System: A review of how the nation’s largest credit bureaus handle consumer data,’’ December 2012, pp. 14, 29, 31, 34. The CFPB report noted that almost 40% of all consumer disputes at the nationwide CRAs, on average, can be linked to collections. It stated that collection trade lines generate significantly higher numbers of consumer disputes than other types of trade lines—specifically, four times higher than auto. These figures seem to suggest that almost 10% of all consumer disputes at the nationwide CRAs, on average, can be linked to auto. When the FTC issued its final Rule, FTC staff estimated that 40% of direct disputes would result in the sending of F/ I dispute notices. See 74 FR 31506 n.58. The FTC’s estimate of 4% is based on taking forty percent of 16:51 Mar 13, 2013 Jkt 229001 B. Labor Costs Labor costs are derived by applying appropriate estimated hourly cost figures to the burden hours described above. The FTC assumes that respondents will use skilled administrative support personnel to provide the required F/I dispute notices to consumers. 2,635 hours × $20.89 17 = $55,045. Thus, total estimated burden under the above-noted regulatory sections is 10,607 hours and $435,548. Request for Comment Section 660.4 of FTC Rule/Section 1022.43 of CFPB Rule VerDate Mar<15>2010 3. 21,720 F&I disputes¥869 ‘‘carveout’’ = 20,851 respondents for CFPB– FTC split. a. Divided by 2 = 10,425 F/I disputes, co-jurisdiction estimate. b. CFPB: 10,425 F/I disputes. c. FTC: 869 ‘‘carve-out’’ + 10,425 additional F/I disputes = 11,294 F/I disputes. d. FTC: 11,294 F/I disputes × 14 minutes each = 2,635 hours. 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) how to improve the quality, utility, and clarity of the disclosure requirements; and (4) how 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 13, 2013. You can file a comment online or on paper. For the Commission to consider your comment, we must receive it on or before May 13, 2013. Write ‘‘Information Furnishers Rule, PRA Comment, P135407’’ 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 http:// 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. the 10% of all consumer disputes at the nationwide CRAs, on average, linked to auto loans. 17 See BLS Table 1. This figure represents an average drawn from mean hourly wages of potentially analogous employee types: first-line supervisors of office support ($25.16); accounting and auditing clerks ($17.37); brokerage clerks ($21.06); eligibility interviewers, government programs ($19.95). PO 00000 Frm 00025 Fmt 4703 Sfmt 4703 16267 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), 16 CFR 4.10(a)(2). In particular, do not include competitively sensitive information such as costs, sales statistics, inventories, formulas, patterns devices, manufacturing processes, or customer names. If you want the Commission to give your comment confidential treatment, you must file it in paper form, with a request for confidential treatment, and you have to follow the procedure explained in FTC Rule 4.9(c).18 Your comment will be kept confidential only if the FTC General Counsel, in his or her sole discretion, grants your request in accordance with the law and the public interest. Postal mail addressed to the Commission is subject to delay due to heightened security screening. As a result, we encourage you to submit your comments online. To make sure that the Commission considers your online comment, you must file it at https:// ftcpublic.commentworks.com/ftc/ infofurnishersrulepra, by following the instructions on the web-based form. If this Notice appears at http:// www.regulations.gov/#!home, you also may file a comment through that Web site. If you file your comment on paper, write ‘‘Information Furnishers Rule, PRA Comment, P135407’’ on your comment and on the envelope, and mail or deliver it to the following address: Federal Trade Commission, Office of the Secretary, Room H–113 (Annex J), 600 Pennsylvania Avenue NW., Washington, DC 20580. If possible, submit your paper comment to the Commission by courier or overnight service. 18 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). E:\FR\FM\14MRN1.SGM 14MRN1 16268 Federal Register / Vol. 78, No. 50 / Thursday, March 14, 2013 / Notices Visit the Commission Web site at www.ftc.gov to read this Notice. 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 13, 2013. You can find more information, including routine uses permitted by the Privacy Act, in the Commission’s privacy policy, at http:// www.ftc.gov/ftc/privacy.htm. David C. Shonka, Acting General Counsel. [FR Doc. 2013–05862 Filed 3–13–13; 8:45 am] BILLING CODE 6750–01–P DEPARTMENT OF DEFENSE GENERAL SERVICES ADMINISTRATION NATIONAL AERONAUTICS AND SPACE ADMINISTRATION [OMB Control No. 9000–0179; Docket 2012– 0076; Sequence 24] Submission for OMB Review; Service Contracts Reporting Requirements Department of Defense (DoD), General Services Administration (GSA), and National Aeronautics and Space Administration (NASA). ACTION: Notice of request for public comments regarding a new OMB information clearance. AGENCY: Under the provisions of the Paperwork Reduction Act, the Regulatory Secretariat will be submitting to the Office of Management and Budget (OMB) a request to review and approve a new information collection requirement for Service Contracts Reporting Requirements. An initial notice soliciting public comments on the information collection was published in the Federal Register at 76 FR 22070, on April 20, 2011, as part of a proposed rule under FAR Case 2010– 0010. The public comments received on only the information collection are addressed in this notice under, ‘‘Supplementary Information.’’ Comments on the rest of the proposed rule will be addressed with the issuance of the final rule. DATES: Interested parties should submit written comments to the Regulatory Secretariat at the address shown below on or before April 15, 2013. ADDRESSES: Submit comments in response to OMB Control 9000–0179, by any of the following methods: tkelley on DSK3SPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 16:51 Mar 13, 2013 Jkt 229001 • Regulations.gov: http:// www.regulations.gov. Submit comments via the Federal eRulemaking portal by searching the OMB control number. Select the link ‘‘Submit a Comment’’ that corresponds with OMB Control 9000–0179 at the ‘‘Submit a Comment’’ screen. Please include your name, company name (if any), and ‘‘OMB Control 9000–0179’’ on your attached document. • Fax: 202–501–4067. • Mail: General Services Administration, FAR Secretariat (MVCB), ATTN: Hada Flowers, 1275 First Street NE., Washington, DC 20405. Instructions: Please submit comments only and cite OMB Control 9000–0179, in all correspondence related to this case. All comments received will be posted without change to http:// www.regulations.gov, including any personal and/or business confidential information provided. FOR FURTHER INFORMATION CONTACT: Mr. Edward Loeb, Procurement Analyst, Contract Policy Division at (202) 501– 00650 or via email at edward.loeb@gsa.gov. SUPPLEMENTARY INFORMATION: A. Purpose Section 743(a) of Division C of the Consolidated Appropriations Act, 2010 (Pub. L. 111–117) requires executive agencies covered by the Federal Activities Inventory Reform (FAIR) Act (Pub. L. 105–270), except DoD, to submit to the Office of Management and Budget (OMB) annually an inventory of activities performed by service contractors. DoD is exempt from this reporting requirement because 10 U.S.C 2462 and 10 U.S.C. 2330a(c) already require DoD to develop an annual service contract inventory. House Report 111–366 notes, in connection with section 743, that, ‘‘in the absence of complete and reliable information on the extent of their reliance on service contractors, Federal agencies are not well-equipped to determine whether they have the right balance of contractor and in-house resources needed to accomplish their missions. Therefore, this rule intends to supplement agency annual service contract reporting requirements with the contractor provided service contract reporting information. The information is to be submitted pursuant to a new clause and solicitation provision. Certain prime service contractors will provide annually— a. The contract number, and, as applicable, order number; b. The total dollar amount invoiced for services performed during the PO 00000 Frm 00026 Fmt 4703 Sfmt 4703 previous Government fiscal year under the contract; c. The number of contractor direct labor hours expended on the services performed during the previous Government fiscal year; and d. Data reported by subcontractors. The prime contractor shall require each first-tier subcontractor performing under the contract to provide annually— a. The subcontract number (including subcontractor name and if available, DUNS number; and b. The number of first-tier subcontractor direct-labor hours expended on the services performed during the previous Government fiscal year. In order to invoice the government for time-and-material/labor-hour (T&M/LH) and cost-reimbursement contracts, contractors already track labor hours expended, so the rule will cover T&M/ LH and cost-reimbursement contracts over the simplified acquisition threshold. In an effort to keep the reporting burden to the absolute minimum on civilian agencies and their service contractors, a phased-in approach will be used for fixed-price contract awards. Fixed price contracts will be covered if the estimated total value is at or above $5 million in FY 2013, $2.5 million in FY 2014, $1 million in FY 2015 and $500,000 in FY 2016 and thereafter. For indefinite-delivery contracts, including but not limited to, indefinitedelivery indefinite-quantity (IDIQ) contracts, Federal Supply Schedule (FSS) contracts, Governmentwide Acquisition contracts (GWACs), and multi-agency contracts, reporting requirements will be determined based on the expected dollar amount and type of the orders issued under the contracts. Existing indefinite-delivery contracts will be bilaterally modified within six months of the effective date of the final rule if sufficient time and value remain on the base contract, which is defined as: (1) A performance period that extends beyond October 1, 2013, and (2) $5 million or more remaining to be obligated to the indefinite-delivery contract. B. Discussion of Comment Comment: One respondent considered the methodology used to calculate the hours needed to prepare responses and the reporting requirement estimates in the Paperwork Reduction Act (PRA) submission to be grossly underestimated. Response: The Councils have reviewed the comment and believe the estimated time to report per contract is E:\FR\FM\14MRN1.SGM 14MRN1

Agencies

[Federal Register Volume 78, Number 50 (Thursday, March 14, 2013)]
[Notices]
[Pages 16265-16268]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-05862]


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FEDERAL TRADE COMMISSION


Agency Information Collection Activities; Proposed Collection; 
Comment Request; Extension

AGENCY: Federal Trade Commission (``FTC'' or ``Commission'').

ACTION: Notice.

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SUMMARY: The FTC intends to ask the Office of Management and Budget 
(``OMB'') to extend through June 30, 2016, the current Paperwork 
Reduction Act (``PRA'') clearance for the FTC's enforcement of the 
information collection requirements in its regulation ``Duties of 
Furnishers of Information to Consumer Reporting Agencies'' 
(``Information Furnishers Rule''), which applies to certain motor 
vehicle dealers, and its shared enforcement with the Consumer Financial 
Protection Bureau (``CFPB'') of the furnisher provisions (subpart E) of 
the CFPB's Regulation V regarding other entities. That clearance 
expires on June 30, 2013.

DATES: Comments must be filed by May 13, 2013.

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

[[Page 16266]]

below. Write ``Information Furnishers Rule, PRA Comment, P135407,'' on 
your comment and file your comment online at https://ftcpublic.commentworks.com/ftc/infofurnishersrulepra by following the 
instructions on the web-based form. If you prefer to file your comment 
on paper, mail or deliver your comment to the following address: 
Federal Trade Commission, Office of the Secretary, Room H-113 (Annex 
J), 600 Pennsylvania Avenue NW., Washington, DC 20580.

FOR FURTHER INFORMATION CONTACT: Monique Einhorn, Attorney, Division of 
Privacy and Identity Protection, Bureau of Consumer Protection, (202) 
326-2575, 600 Pennsylvania Ave. NW., Room NJ-8100, 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 furnisher provisions of the Fair Credit 
Reporting Act (``FCRA''),\2\ on July 21, 2011.\3\ For certain other 
portions of the FCRA, the FTC retains its rulemaking authority.\4\
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    \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.
    \4\ The Dodd-Frank Act does not transfer to the CFPB rulemaking 
authority for FCRA sections 615(e) (``Red Flag Guidelines and 
Regulations Required'') and 628 (``Disposal of Records''). See 15 
U.S.C. 1681s(e); Public Law 111-203, section 1088(a)(10)(E). 
Accordingly, the Commission retains full rulemaking authority for 
its ``Identity Theft Rules,'' 16 CFR part 681, and its rules 
governing ``Disposal of Consumer Report Information and Records,'' 
16 CFR part 682. See 15 U.S.C. 1681m, 1681w.
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    The FTC retains rulemaking authority for its Information Furnishers 
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.\5\
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    \5\ See Dodd-Frank Act, Sec.  1029(a), (c).
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    In addition, the FTC retains its authority to enforce the furnisher 
provisions of the FCRA and the FTC and CFPB rules issued under those 
provisions. Thus, the FTC and CFPB have overlapping enforcement 
authority for many entities subject to the CFPB rule and the FTC has 
sole enforcement authority for the motor vehicle dealers subject to the 
FTC rule.
    On December 21, 2011, the CFPB issued its interim final FCRA rule, 
including the furnisher provisions (subpart E) of CFPB's Regulation 
V.\6\ Contemporaneous with that issuance, the CFPB and FTC had each 
submitted to OMB, and received its approval for, the agencies' 
respective burden estimates reflecting their overlapping enforcement 
jurisdiction, with the FTC supplementing its estimates for the 
enforcement authority exclusive to it regarding the class of motor 
vehicle dealers noted above. The discussion below continues that 
analytical framework, as appropriately updated or otherwise refined for 
instant purposes.
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    \6\ 76 FR 79308 (Dec. 21, 2011).
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Burden Statement

    Under the PRA, 44 U.S.C. 3501-3521, Federal agencies must get OMB 
approval for each collection of information they conduct or sponsor. 
``Collection of information'' includes agency requests or requirements 
to submit reports, keep records, or provide information to a third 
party. 44 U.S.C. 3502(3); 5 CFR 1320.3(c). The FTC is seeking clearance 
for its assumed share of the estimated PRA burden regarding the 
disclosure requirements under the FTC and CFPB Rules.
    Under section 660.3 of the FTC's Information Furnishers Rule \7\ 
and section 1022.42 of the CFPB Rule,\8\ furnishers must establish and 
implement reasonable written policies and procedures regarding the 
accuracy and integrity of the information relating to consumers that 
they furnish to a consumer reporting agency (``CRA'').\9\ Section 660.4 
of the FTC Rule and section 1022.43 of the CFPB Rule require that 
entities which furnish information about consumers to a CRA respond to 
direct disputes from consumers. These provisions also require that a 
furnisher notify consumers by mail or other means (if authorized by the 
consumer) within five business days after making a determination that a 
dispute is frivolous or irrelevant (``F/I dispute'').
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    \7\ 16 CFR part 660.
    \8\ 12 CFR part 1022.
    \9\ The rule defines a ``furnisher'' as an entity that furnishes 
information relating to consumers to one or more CRAs for inclusion 
in a consumer report, but provides that an entity is not a furnisher 
when it: Provides information to a CRA solely to obtain a consumer 
report for a permissible purpose under the FCRA; is acting as a CRA 
as defined in section 603(f) of the FCRA; is an individual consumer 
to whom the furnished information pertains; or is a neighbor, 
friend, or associate of the consumer, or another individual with 
whom the consumer is acquainted or who may have knowledge about the 
consumer's character, general reputation, personal characteristics, 
or mode of living in response to a specific request from a CRA.
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    The FTC's currently cleared burden totals, post-adjustment for the 
effects of the Dodd-Frank Act, are 61,034 hours with $2,440,575 in 
associated labor costs.\10\ Estimated capital/non-labor costs remain 
listed as $0 because Commission staff had reiterated its belief that 
the Rule imposes negligible capital or other non-labor costs, as the 
affected entities are already likely to have the necessary supplies 
and/or equipment (e.g., offices and computers) for the information 
collections within the Rule.
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    \10\ OMB Control No. 3084-0144.
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    The past burden analysis, tied to when the Rule was newly 
promulgated, accounted for one-time burdens particular to the first 
year of the Rule's implementation and a relatively greater weighting of 
burden within that first year for certain recurring obligations under 
the Rule. Now, however, with several years having passed since 
inception, FTC staff's updated estimates reflect solely the remaining 
recurring burdens, as further reduced for the educational curve and 
diminishing measures needed to maintain compliance with the Rule.
    Thus, using solely the currently cleared estimates (post-adjustment 
for the effects of the Dodd-Frank Act) of the number of applicable 
motor vehicle dealers and their assumed recurring disclosure burdens, 
the FTC proposes the following:
    Estimated number of respondents: 3,986.\11\
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    \11\ Given the broad scope of furnishers, it is difficult to 
determine precisely the number of them that are subject to the FTC's 
jurisdiction. Nonetheless, Commission staff estimated that the 
regulations affect approximately 6,133 such furnishers. See 74 FR 
31484, 31505 n. 56 (July 1, 2009 FTC and Federal financial agencies 
final rules). It is equally difficult to determine precisely the 
number of motor vehicle dealers that furnish information related to 
consumers to a CRA for inclusion in a consumer report. For purposes 
of estimating its motor vehicle dealer furnisher carve-out, the FTC 
has assumed that 30% of the 6,133 furnishers, or 1,840 furnishers, 
constitute the number of motor vehicle dealers over which the FTC 
retains exclusive jurisdiction under the Dodd-Frank Act. To derive 
this 30% estimate, Commission staff divided an estimated number of 
car dealers--55,417 (based on industry data for the number of 
franchise/new car and independent/used car dealers) by 199,500 
(Commission staff's PRA estimate of the number of entities that 
extend credit to consumers subject to FTC jurisdiction under the 
FCRA, pre-Dodd-Frank, for the Risk-Based Pricing regulations, as 
detailed at 75 FR 2724, 2748 n.18 (Jan. 15, 2010)). This came out to 
28%. Staff increased this amount to 30% to account for other motor 
vehicle dealer types (motorbikes, boats, other recreational) also 
covered within the definition of ``motor vehicle dealer'' under 
section 1029(a) of the Dodd-Frank Act. The resulting apportionment 
for motor vehicle dealers was subtracted from the base figure 
(6,133) to determine the net amount (4,293) subject to 50:50 
apportionment (approximately 2,146 each) between the FTC and CFPB. 
Thus, 1,840 motor vehicle dealers + 2,146 other entities = 3,986 
respondents for the FTC's burden calculations.

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[[Page 16267]]

Section 660.3 of FTC Rule/Section 1022.42 of CFPB Rule

A. Burden Hours
    Yearly recurring burden of 2 hours for training \12\ to help ensure 
continued compliance regarding written policies and procedures for the 
accuracy and integrity of the information furnished to a CRA about 
consumers.
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    \12\ 74 FR at 31505.
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    3,986 respondents x 2 hours for training = 7,972 hours.
B. Labor Costs
    Labor costs are derived by applying appropriate estimated hourly 
cost figures to the burden hours described above. The FTC assumes that 
respondents will use managerial and/or professional technical personnel 
to train company employees in order to foster continued compliance with 
the information collection requirements in the Information Furnishers 
Rule and the furnisher provisions of Regulation V.
    7,972 hours x $47.73 \13\ = $380,503.
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    \13\ http://www.bls.gov/news.release/archives/ocwage_03272012.pdf: ``Occupational Employment and Wages--May 2011,'' 
Bureau of Labor Statistics, U.S. Department of Labor, released March 
2012, Table 1 (``National employment and wage data from the 
Occupational Employment Statistics survey by occupation, May 2011'') 
(hereinafter, ``BLS Table 1''). See mean hourly wage for ``Training 
and Development Managers.''
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Section 660.4 of FTC Rule/Section 1022.43 of CFPB Rule

A. Burden Hours
    No recurring burden other than that necessary to prepare and 
distribute F/I notices (estimate: 14 minutes per notice \14\).
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    \14\ 74 FR at 31505.
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    1. 21,720 F/I disputes (estimated number received by furnishers 
under the FTC's jurisdiction \15\).
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    \15\ Id. at 31506 n. 58.
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    2. ``Carve-out'' to FTC: assumed 4% \16\ = 869 F/I disputes.
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    \16\ FTC staff believes that 4% is a reasonable estimate based 
on recent data. See ``Key Dimensions and Processes in the U.S. 
Credit Reporting System: A review of how the nation's largest credit 
bureaus handle consumer data,'' December 2012, pp. 14, 29, 31, 34. 
The CFPB report noted that almost 40% of all consumer disputes at 
the nationwide CRAs, on average, can be linked to collections. It 
stated that collection trade lines generate significantly higher 
numbers of consumer disputes than other types of trade lines--
specifically, four times higher than auto. These figures seem to 
suggest that almost 10% of all consumer disputes at the nationwide 
CRAs, on average, can be linked to auto. When the FTC issued its 
final Rule, FTC staff estimated that 40% of direct disputes would 
result in the sending of F/I dispute notices. See 74 FR 31506 n.58. 
The FTC's estimate of 4% is based on taking forty percent of the 10% 
of all consumer disputes at the nationwide CRAs, on average, linked 
to auto loans.
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    3. 21,720 F&I disputes-869 ``carve-out'' = 20,851 respondents for 
CFPB-FTC split.
    a. Divided by 2 = 10,425 F/I disputes, co-jurisdiction estimate.
    b. CFPB: 10,425 F/I disputes.
    c. FTC: 869 ``carve-out'' + 10,425 additional F/I disputes = 11,294 
F/I disputes.
    d. FTC: 11,294 F/I disputes x 14 minutes each = 2,635 hours.
B. Labor Costs
    Labor costs are derived by applying appropriate estimated hourly 
cost figures to the burden hours described above. The FTC assumes that 
respondents will use skilled administrative support personnel to 
provide the required F/I dispute notices to consumers.
    2,635 hours x $20.89 \17\ = $55,045.
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    \17\ See BLS Table 1. This figure represents an average drawn 
from mean hourly wages of potentially analogous employee types: 
first-line supervisors of office support ($25.16); accounting and 
auditing clerks ($17.37); brokerage clerks ($21.06); eligibility 
interviewers, government programs ($19.95).
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    Thus, total estimated burden under the above-noted regulatory 
sections is 10,607 hours and $435,548.

Request for Comment

    Pursuant to Section 3506(c)(2)(A) of the PRA, the FTC invites 
comments on: (1) Whether the disclosure requirements are necessary, 
including whether the information will be practically useful; (2) the 
accuracy of our burden estimates, including whether the methodology and 
assumptions used are valid; (3) how to improve the quality, utility, 
and clarity of the disclosure requirements; and (4) how 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 13, 2013.
    You can file a comment online or on paper. For the Commission to 
consider your comment, we must receive it on or before May 13, 2013. 
Write ``Information Furnishers Rule, PRA Comment, P135407'' 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 http://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), 16 CFR 
4.10(a)(2). In particular, do not include competitively sensitive 
information such as costs, sales statistics, inventories, formulas, 
patterns devices, manufacturing processes, or customer names.
    If you want the Commission to give your comment confidential 
treatment, you must file it in paper form, with a request for 
confidential treatment, and you have to follow the procedure explained 
in FTC Rule 4.9(c).\18\ Your comment will be kept confidential only if 
the FTC General Counsel, in his or her sole discretion, grants your 
request in accordance with the law and the public interest.
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    \18\ In particular, the written request for confidential 
treatment that accompanies the comment must include the factual and 
legal basis for the request, and must identify the specific portions 
of the comment to be withheld from the public record. See FTC Rule 
4.9(c), 16 CFR 4.9(c).
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    Postal mail addressed to the Commission is subject to delay due to 
heightened security screening. As a result, we encourage you to submit 
your comments online. To make sure that the Commission considers your 
online comment, you must file it at https://ftcpublic.commentworks.com/ftc/infofurnishersrulepra, by following the instructions on the web-
based form. If this Notice appears at http://www.regulations.gov/#!home, you also may file a comment through that Web site.
    If you file your comment on paper, write ``Information Furnishers 
Rule, PRA Comment, P135407'' on your comment and on the envelope, and 
mail or deliver it to the following address: Federal Trade Commission, 
Office of the Secretary, Room H-113 (Annex J), 600 Pennsylvania Avenue 
NW., Washington, DC 20580. If possible, submit your paper comment to 
the Commission by courier or overnight service.

[[Page 16268]]

    Visit the Commission Web site at www.ftc.gov to read this Notice. 
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 13, 2013. You can 
find more information, including routine uses permitted by the Privacy 
Act, in the Commission's privacy policy, at http://www.ftc.gov/ftc/privacy.htm.

David C. Shonka,
Acting General Counsel.
[FR Doc. 2013-05862 Filed 3-13-13; 8:45 am]
BILLING CODE 6750-01-P