Agency Information Collection Activities; Proposed Collection; Comment Request; Extension, 16265-16268 [2013-05862]
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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.
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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
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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.
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[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:
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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).
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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
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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
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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.
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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 https://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
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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
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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 https://
www.ftc.gov/os/publiccomments.shtm.
As a matter of discretion, the
Commission tries to remove individuals’
home contact information from
comments before placing them on the
Commission Web site.
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).
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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 https://
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).
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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 https://
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:
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SUMMARY:
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• Regulations.gov: https://
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 https://
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
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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\ https://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 https://www.ftc.gov/os/publiccomments.shtm. As a matter of discretion, the Commission tries
to remove individuals' home contact information from comments before
placing them on the Commission Web site.
Because your comment will be made public, you are solely
responsible for making sure that your comment does not include any
sensitive personal information, like anyone's Social Security number,
date of birth, driver's license number or other state identification
number or foreign country equivalent, passport number, financial
account number, or credit or debit card number. You are also solely
responsible for making sure that your comment does not include any
sensitive health information, like medical records or other
individually identifiable health information. In addition, do not
include any ``[t]rade secret or any commercial or financial information
which is * * * privileged or confidential'' as provided in Section 6(f)
of the FTC Act 15 U.S.C. 46(f), and FTC Rule 4.10(a)(2), 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 https://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 https://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
