Agency Information Collection Activities; Submission for OMB Review; Comment Request, 51355-51357 [2021-19904]
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Federal Register / Vol. 86, No. 176 / Wednesday, September 15, 2021 / Notices
notice is hereby given that the next
meeting of the Children’s Health
Protection Advisory Committee
(CHPAC) will be held virtually
November 2 and 3, 2021. The CHPAC
advises the Environmental Protection
Agency (EPA) on science, regulations
and other issues relating to children’s
environmental health.
DATES: November 2, 2021 from 12:30
p.m. to 6 p.m. and November 3, 2021
from 12:30 p.m. to 6 p.m.
ADDRESSES: The meeting will take place
virtually. If you want to listen to the
meeting or provide comments, please
email louie.nica@epa.gov for further
details.
Nica
Louie, Office of Children’s Health
Protection, U.S. EPA, MC 1107T, 1200
Pennsylvania Avenue NW, Washington,
DC 20460, (202) 564–7633 or
louie.nica@epa.gov.
SUPPLEMENTARY INFORMATION: The
meetings of the CHPAC are open to the
public. An agenda will be posted to
https://www.epa.gov/children/
childrens-health-protection-advisorycommittee-chpac.
Access and Accommodations: For
information on access or services for
individuals with disabilities, please
contact Nica Louie at 202–564–7633 or
louie.nica@epa.gov.
FOR FURTHER INFORMATION CONTACT:
Dated: September 9, 2021.
Nica Mostaghim,
Environmental Health Scientist.
[FR Doc. 2021–19833 Filed 9–14–21; 8:45 am]
BILLING CODE 6560–50–P
Parties: Eukor Car Carriers, Inc.;
Liberty Global Logistics LLC; And
Wallenius Wilhelmsen Ocean AS.
Filing Party: Wayne Rohde; Cozen
O’Connor.
Synopsis: The agreement would
authorize the parties to charter space to/
from one another on an ‘‘as needed/as
available’’ basis in all trades in the
foreign commerce of the United States.
Proposed Effective Date: 10/22/2021.
Location: https://www2.fmc.gov/
FMC.Agreements.Web/Public/
AgreementHistory/50508.
Dated: September 10, 2021.
Rachel E. Dickon,
Secretary.
[FR Doc. 2021–19922 Filed 9–14–21; 8:45 am]
BILLING CODE 6730–02–P
FEDERAL TRADE COMMISSION
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request
Federal Trade Commission.
Notice.
AGENCY:
ACTION:
The Federal Trade
Commission (‘‘FTC’’ or ‘‘Commission’’)
requests that the Office of Management
and Budget (‘‘OMB’’) extend for three
years the current Paperwork Reduction
Act (‘‘PRA’’) clearances for information
collection requirements contained in
four consumer financial regulations
enforced by the Commission. Those
clearances expire on September 30,
2021.
SUMMARY:
Comments must be filed by
October 15, 2021.
ADDRESSES: Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under Review—Open for
Public Comments’’ or by using the
search function.
FOR FURTHER INFORMATION CONTACT:
Carole Reynolds or Stephanie
Rosenthal, Attorneys, Division of
Financial Practices, Bureau of Consumer
Protection, Federal Trade Commission,
600 Pennsylvania Ave. NW,
Washington, DC 20580, (202) 326–3224.
SUPPLEMENTARY INFORMATION: The four
regulations covered by this notice are:
(1) Regulations promulgated under
the Equal Credit Opportunity Act, 15
U.S.C. 1691 et seq. (‘‘ECOA’’)
(‘‘Regulation B’’) (OMB Control Number:
3084–0087);
DATES:
FEDERAL MARITIME COMMISSION
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Notice of Agreement Filed
The Commission hereby gives notice
of the filing of the following agreement
under the Shipping Act of 1984.
Interested parties may submit
comments, relevant information, or
documents regarding the agreement to
the Secretary by email at Secretary@
fmc.gov, or by mail, Federal Maritime
Commission, Washington, DC 20573.
Comments will be most helpful to the
Commission if received within 12 days
of the date this notice appears in the
Federal Register. Copies of agreement
are available through the Commission’s
website (www.fmc.gov) or by contacting
the Office of Agreements at (202) 523–
5793 or tradeanalysis@fmc.gov.
Agreement No.: 201372.
Agreement Name: Liberty/Wallenius
Wilhelmsen Ocean/Eukor Car Carriers
Space Charter Agreement.
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51355
(2) Regulations promulgated under
the Electronic Fund Transfer Act, 15
U.S.C. 1693 et seq. (‘‘EFTA’’)
(‘‘Regulation E’’) (OMB Control Number:
3084–0085);
(3) Regulations promulgated under
the Consumer Leasing Act, 15 U.S.C.
1667 et seq. (‘‘CLA’’) (‘‘Regulation M’’)
(OMB Control Number: 3084–0086); and
(4) Regulations promulgated under
the Truth-In-Lending Act, 15 U.S.C.
1601 et seq. (‘‘TILA’’) (‘‘Regulation Z’’)
(OMB Control Number: 3084–0088).
Type of Review: Extension without
change of currently approved collection.
Affected Public: Private Sector:
Businesses and other for-profit entities.
Abstract: Under the Dodd-Frank Wall
Street Reform and Consumer Protection
Act (‘‘Dodd-Frank Act’’), Public Law
111–203, 124 Stat. 1376 (2010), almost
all rulemaking authority for the ECOA,
EFTA, CLA, and TILA transferred from
the Board of Governors of the Federal
Reserve System (‘‘Board’’) to the
Consumer Financial Protection Bureau
(‘‘CFPB’’) on July 21, 2011 (‘‘transfer
date’’). To implement this transferred
authority, the CFPB published new
regulations in 12 CFR part 1002
(Regulation B), 12 CFR part 1005
(Regulation E), 12 CFR part 1013
(Regulation M), and 12 CFR part 1026
(Regulation Z) for those entities under
its rulemaking jurisdiction.1 Although
the Dodd-Frank Act transferred most
rulemaking authority under ECOA,
EFTA, CLA, and TILA to the CFPB, the
Board retained rulemaking authority for
certain motor vehicle dealers 2 under all
of these statutes and also for certain
interchange-related requirements under
EFTA.3
As a result of the Dodd-Frank Act, the
FTC and the CFPB generally share the
authority to enforce Regulations B, E, M,
and Z for entities for which the FTC had
enforcement authority before the Act,
except for certain motor vehicle
dealers.4 Because of this shared
1 12 CFR pt. 1002 (Reg. B) (81 FR 25323, Apr. 28,
2016); 12 CFR pt. 1005 (Reg. E) (81 FR 25323, Apr.
28, 2016); 12 CFR pt. 1013 (Reg. M) (81 FR 25323,
Apr. 28, 2016); 12 CFR pt. 1026 (Reg. Z) (81 FR
25323, Apr. 28, 2016).
2 Generally, these are dealers ‘‘predominantly
engaged in the sale and servicing of motor vehicles,
the leasing and servicing of motor vehicles, or
both.’’ See Dodd-Frank Act, § 1029(a), (c), 12 U.S.C.
5519(a), (c).
3 See Dodd-Frank Act, § 1075, 15 U.S.C. 1693
(these requirements are implemented through Board
Regulation II, 12 CFR pt. 235, rather than EFTA’s
implementing Regulation E).
4 The FTC’s enforcement authority includes statechartered credit unions; other federal agencies also
have various enforcement authority over credit
unions. For example, for large credit unions
(exceeding $10 billion in assets), the CFPB has
certain authority. The National Credit Union
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Federal Register / Vol. 86, No. 176 / Wednesday, September 15, 2021 / Notices
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enforcement jurisdiction, the two
agencies have divided the FTC’s
previously-cleared PRA burden
estimates between them,5 except that
the FTC has assumed all of the burden
estimates associated with motor vehicle
dealers 6 and state-chartered credit
unions. The division of PRA burden
hours not attributable to motor vehicle
dealers and state-chartered credit
unions is reflected in the CFPB’s PRA
clearance requests to OMB, as well as in
the FTC’s burden estimates below.
Pursuant to the Dodd-Frank Act, the
FTC generally has sole authority to
enforce Regulations B, E, M, and Z
regarding certain motor vehicle dealers
predominantly engaged in the sale and
servicing of motor vehicles, the leasing
and servicing of motor vehicles, or both,
that, among other things, assign their
contracts to unaffiliated third parties.7
Because the FTC has exclusive
jurisdiction to enforce these rules for
such motor vehicle dealers and retains
its concurrent authority with the CFPB
for other types of motor vehicle dealers,
and in view of the different types of
motor vehicle dealers, the FTC retains
Administration also has certain authority for statechartered federally insured credit unions, and it
additionally provides insurance for certain statechartered credit unions through the National Credit
Union Share Insurance Fund and examines credit
unions for various purposes. There are
approximately three state-chartered credit unions
exceeding $10 billion in assets, and the CFPB
assumes PRA burden for those entities. As of the
fourth quarter of 2020, there were approximately
2,126 state-chartered credit unions—1,914 which
were federally insured, an estimated 112 or more
which were privately insured, and an estimated 100
or more in Puerto Rico which were insured by a
quasi-governmental entity. Because of the difficulty
in parsing out PRA burden for such entities in view
of the overlapping authority, the FTC’s figures
include PRA burden for all state-chartered credit
unions. However, in view of fluctuations due to
COVID–19 and to avoid undercounting, we have
retained the prior estimate of 2,300 state-chartered
credit unions. As noted above, the CFPB’s figures
as to state-chartered credit unions include burden
for those entities exceeding $10 billion in assets.
See generally Dodd-Frank Act, §§ 1061, 1025, 1026.
This attribution does not change actual enforcement
authority.
5 The CFPB also factors into its burden estimates
respondents over which it has jurisdiction but the
FTC does not.
6 See Dodd-Frank Act § 1029, 12 U.S.C. 5519(a),
as to motor vehicle dealers, as limited by subsection
(b). Subsection (b) does not preclude CFPB
regulatory oversight regarding, among others,
businesses that extend retail credit or retail leases
for motor vehicles in which the credit or lease
offered is provided directly from those businesses,
rather than unaffiliated third parties, to consumers.
It is not practicable, however, for PRA purposes, to
estimate the portion of dealers that engage in one
form of financing versus another (and that would
or would not be subject to CFPB oversight). Thus,
FTC staff’s PRA burden analysis reflects a general
estimated volume of motor vehicle dealers. This
attribution does not change actual enforcement
authority.
7 See Dodd-Frank Act, § 1029, 12 U.S.C. 5519(a),
(c).
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the entire PRA burden for motor vehicle
dealers in the burden estimates below.
1. Regulation B
The ECOA prohibits discrimination in
the extension of credit. Regulation B
implements the ECOA, establishing
disclosure requirements to assist
customers in understanding their rights
under the ECOA and recordkeeping
requirements to assist agencies in
enforcement. Regulation B applies to
retailers, mortgage lenders, mortgage
brokers, finance companies, and others.
Estimated Annual Burden Hours:
1,797,798 hours (Total).
Recordkeeping: 708,886 hours.
Disclosures: 1,088,912 hours.
Estimated Annual Labor Costs:
$65,320,576 (Total).
Recordkeeping: $15,666,176.
Disclosures: $49,654,400.
Estimated Annual Non-Labor Costs:
$0.
2. Regulation E
The EFTA requires that covered
entities provide consumers with
accurate disclosure of the costs, terms,
and rights relating to EFT and certain
other services. Regulation E implements
the EFTA, establishing disclosure and
other requirements to aid consumers
and recordkeeping requirements to
assist agencies with enforcement. It
applies to financial institutions,
retailers, gift card issuers and others that
provide gift cards, service providers,
various federal and state agencies
offering EFTs, prepaid account entities,
and others.
Estimated Annual Burden Hours:
Total: 7,435,956 hours.
Recordkeeping: 251,053 hours.
Disclosures: 7,184,903 hours.
Estimated Annual Labor Costs:
$332,803,360 (Total).
Recordkeeping: $5,171,684.
Disclosures: $327,631,676.
Estimated Annual Non-Labor Costs:
$0.
3. Regulation M
The CLA requires that covered
entities provide consumers with
accurate disclosure of the costs and
terms of leases. Regulation M
implements the CLA, establishing
disclosure requirements to help
consumers comparison shop and
understand the terms of leases and
recordkeeping requirements. It applies
to vehicle lessors (such as auto dealers,
independent leasing companies, and
manufacturers’ captive finance
companies), computer lessors (such as
computer dealers and other retailers),
furniture lessors, various electronic
commerce lessors, diverse types of lease
advertisers, and others.
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Estimated Annual Burden Hours:
101,953 hours (Total).
Recordkeeping: 30,203 hours.
Disclosures: 71,750 hours.
Estimated Annual Labor Costs:
$5,954,060 (Total).
Recordkeeping: $1,763,860.
Disclosures: $4,190,200.
Estimated Annual Non-Labor Costs:
$0.
4. Regulation Z
The TILA was enacted to foster
comparison credit shopping and
informed credit decisionmaking by
requiring creditors and others to provide
accurate disclosures regarding the costs
and terms of credit to consumers.
Regulation Z implements the TILA,
establishing disclosure requirements to
assist consumers and recordkeeping
requirements to assist agencies with
enforcement. These requirements
pertain to open-end and closed-end
credit and apply to various types of
entities, including mortgage companies;
finance companies; auto dealerships;
private education loan companies;
merchants who extend credit for goods
or services; credit advertisers; acquirers
of mortgages; and others. Additional
requirements also exist in the mortgage
area, including for high cost mortgages,
higher-priced mortgage loans,8 ability to
pay of mortgage consumers, mortgage
servicing, loan originators, and certain
integrated mortgage disclosures.
Estimated Annual Burden Hours:
8,416,441 (Total).
Recordkeeping: 561,866 hours.
Disclosures: 7,854,575 hours.
Estimated Annual Labor Costs:
$369,744,078 (Total).
Recordkeeping: $11,574,450.
Disclosures: $358,169,628.
Estimated Annual Non-Labor Costs:
$0.
Request for Comment: On May 17,
2021, the Commission sought comment
on the information collection
requirements associated with
Regulations B, E, M, and Z. 86 FR
26,725 (May 17, 2021). No relevant
comments were received. Pursuant to
the OMB regulations, 5 CFR part 1320,
the FTC is providing this second
opportunity for public comment while
seeking OMB approval to renew
clearance for the Rule’s information
collection requirements.
Your comment—including your name
and your state—will be placed on the
public record of this proceeding.
8 While Regulation Z also requires the creditor to
provide a short written disclosure regarding the
appraisal process for higher-priced mortgage loans,
the disclosure is provided by the CFPB. As a result,
it is not a ‘‘collection of information’’ for PRA
purposes (see 5 CFR 1320.3(c)(2)).
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Federal Register / Vol. 86, No. 176 / Wednesday, September 15, 2021 / Notices
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.
Josephine Liu,
Assistant General Counsel for Legal Counsel.
[FR Doc. 2021–19904 Filed 9–14–21; 8:45 am]
BILLING CODE 6750–01–P
GENERAL SERVICES
ADMINISTRATION
Office of Government-Wide
Policy (OGP), General Services
Administration (GSA).
ACTION: Notice of GSA Bulletin FTR 22–
02, Waiver of certain Federal Travel
Regulation (FTR) provisions for official
relocation travel to locations in
Mississippi, Louisiana, New York, and
New Jersey impacted by Hurricane Ida.
AGENCY:
GSA Bulletin FTR 22–02
informs Federal agencies that certain
provisions of the FTR governing official
relocation travel are temporarily waived
for Mississippi, Louisiana, New York,
and New Jersey locations impacted by
Hurricane Ida. As a result of the storm
damage caused by Hurricane Ida,
agencies should consider delaying all
non-essential relocations to the affected
areas given the statutory 120-day
maximum for Temporary Quarters
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17:08 Sep 14, 2021
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GSA Bulletin FTR 22–02 can be
viewed at https://www.gsa.gov/
ftrbulletins.
Applicability Date: This notice is
retroactively effective for official
relocation travel performed on or after
(a) August 28, 2021, the date of the
Presidential Disaster Declaration EM–
3569–MS, to locations in Mississippi,
(b) August 29, 2021, the date of the
Presidential Disaster Declaration DR–
4611–LA, to the locations in Louisiana,
(c) September 1, 2021, the date of the
Presidential Disaster Declaration EM–
3572–NY, to the locations in New York,
and (d) September 1, 2021, the date of
the Presidential Disaster Declaration
EM–3573–NJ, to the locations in New
Jersey, impacted by Hurricane Ida. The
FTR Bulletin expires 180 days from the
respective effective dates, unless
extended or rescinded by this office.
BILLING CODE P
DATES:
Mr.
Rick Miller, Senior Policy Analyst,
Office of Government-wide Policy,
Office of Asset and Transportation
Management, at 202–501–3822 or
travelpolicy@gsa.gov. Please cite Notice
of GSA Bulletin FTR 22–02.
FOR FURTHER INFORMATION CONTACT:
Background
Federal Travel Regulation (FTR);
Relocation Allowances—Waiver of
Certain Provisions of the FTR Chapter
302 for Official Relocation Travel to
Locations in Mississippi, Louisiana,
New York, and New Jersey Impacted
by Hurricane Ida
SUMMARY:
Subsistence Expenses (TQSE). Due to
the lasting effects of the storm damage
to these affected areas, finding lodging
facilities and/or adequate meals may be
difficult, and distance involved may be
great, resulting in increased cost for
relocation per diem expenses.
SUPPLEMENTARY INFORMATION:
[Notice–MA–2021–04; Docket No. 2021–
0002; Sequence No. 23]
51357
Federal agencies authorize relocation
entitlements to those individuals listed
at FTR § 302–1.1 and those assigned
under the Government Employees
Training Act (GETA) (5 U.S.C. Chapter
41) which must be used within oneyear. Some agencies will authorize
TQSE and a Househunting trip (HHT) to
assist employees with temporary
expenses when relocating to the new
duty station. The FTR limits the
location of where temporary lodging
may occur, how long they may receive
assistance, and at what per diem rate
expenses are based. Hurricane Ida has
affected locations in Mississippi,
Louisiana, New York, and New Jersey
which has resulted in various travelrelated disruptions to relocating
employees. Accordingly, this GSA
Bulletin allows agencies to determine
whether to implement waivers of time
limits established by the FTR for
completion of all aspects of relocation,
temporary quarter’s locations at the new
duty station and per diem rates for
TQSE, and per diem rates for HHTs.
PO 00000
Krystal J. Brumfield,
Associate Administrator, Office of
Government-Wide Policy.
[FR Doc. 2021–19941 Filed 9–14–21; 8:45 am]
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
Centers for Disease Control and
Prevention
Performance Review Board Members
Centers for Disease Control and
Prevention (CDC), Department of Health
and Human Services (HHS).
ACTION: Notice.
AGENCY:
The Centers for Disease
Control and Prevention (CDC) located
within the Department of Health and
Human Services (HHS) announces the
names of the Performance Review Board
Members who are reviewing
performance of Senior Executive Service
(SES) members, Title 42 (T42)
executives, and Senior Level (SL)
employees for Fiscal Year 2021.
FOR FURTHER INFORMATION CONTACT:
Henry Greene, Team Chief, Executive
and Scientific Resources Office, Human
Resources Office, Centers for Disease
Control and Prevention, 1600 Clifton
Road NE, MS US11–2, Atlanta, Georgia
30329–4027. Telephone (770) 488–1140.
SUPPLEMENTARY INFORMATION: Title 5,
U.S.C. 4314(c)(4) of the Civil Service
Reform Act of 1978, Public Law 95–454,
requires that the appointment of
Performance Review Board Members be
published in the Federal Register. The
following persons will serve on the CDC
Performance Review Board, which will
oversee the evaluation of performance
appraisals of Senior Executive Service
members for the Fiscal Year 2021
review period:
SUMMARY:
Bornstein, Joshua, Co-Chair
Dean, Hazel, Co-Chair
Bonander, Jason
Dulin, Stephanie
Ethier, Kathleen
Kitt, Margaret
Kosmos, Christine
Peeples, Amy
Perry, Terrance
Pirkle, James
Wharton, Melinda
Dated: September 10, 2021.
Sandra Cashman,
Executive Secretary, Centers for Disease
Control and Prevention.
[FR Doc. 2021–19907 Filed 9–14–21; 8:45 am]
BILLING CODE 4163–18–P
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]]>Agencies
[Federal Register Volume 86, Number 176 (Wednesday, September 15, 2021)]
[Notices]
[Pages 51355-51357]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-19904]
=======================================================================
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FEDERAL TRADE COMMISSION
Agency Information Collection Activities; Submission for OMB
Review; Comment Request
AGENCY: Federal Trade Commission.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Federal Trade Commission (``FTC'' or ``Commission'')
requests that the Office of Management and Budget (``OMB'') extend for
three years the current Paperwork Reduction Act (``PRA'') clearances
for information collection requirements contained in four consumer
financial regulations enforced by the Commission. Those clearances
expire on September 30, 2021.
DATES: Comments must be filed by October 15, 2021.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular
information collection by selecting ``Currently under Review--Open for
Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Carole Reynolds or Stephanie
Rosenthal, Attorneys, Division of Financial Practices, Bureau of
Consumer Protection, Federal Trade Commission, 600 Pennsylvania Ave.
NW, Washington, DC 20580, (202) 326-3224.
SUPPLEMENTARY INFORMATION: The four regulations covered by this notice
are:
(1) Regulations promulgated under the Equal Credit Opportunity Act,
15 U.S.C. 1691 et seq. (``ECOA'') (``Regulation B'') (OMB Control
Number: 3084-0087);
(2) Regulations promulgated under the Electronic Fund Transfer Act,
15 U.S.C. 1693 et seq. (``EFTA'') (``Regulation E'') (OMB Control
Number: 3084-0085);
(3) Regulations promulgated under the Consumer Leasing Act, 15
U.S.C. 1667 et seq. (``CLA'') (``Regulation M'') (OMB Control Number:
3084-0086); and
(4) Regulations promulgated under the Truth-In-Lending Act, 15
U.S.C. 1601 et seq. (``TILA'') (``Regulation Z'') (OMB Control Number:
3084-0088).
Type of Review: Extension without change of currently approved
collection.
Affected Public: Private Sector: Businesses and other for-profit
entities.
Abstract: Under the Dodd-Frank Wall Street Reform and Consumer
Protection Act (``Dodd-Frank Act''), Public Law 111-203, 124 Stat. 1376
(2010), almost all rulemaking authority for the ECOA, EFTA, CLA, and
TILA transferred from the Board of Governors of the Federal Reserve
System (``Board'') to the Consumer Financial Protection Bureau
(``CFPB'') on July 21, 2011 (``transfer date''). To implement this
transferred authority, the CFPB published new regulations in 12 CFR
part 1002 (Regulation B), 12 CFR part 1005 (Regulation E), 12 CFR part
1013 (Regulation M), and 12 CFR part 1026 (Regulation Z) for those
entities under its rulemaking jurisdiction.\1\ Although the Dodd-Frank
Act transferred most rulemaking authority under ECOA, EFTA, CLA, and
TILA to the CFPB, the Board retained rulemaking authority for certain
motor vehicle dealers \2\ under all of these statutes and also for
certain interchange-related requirements under EFTA.\3\
---------------------------------------------------------------------------
\1\ 12 CFR pt. 1002 (Reg. B) (81 FR 25323, Apr. 28, 2016); 12
CFR pt. 1005 (Reg. E) (81 FR 25323, Apr. 28, 2016); 12 CFR pt. 1013
(Reg. M) (81 FR 25323, Apr. 28, 2016); 12 CFR pt. 1026 (Reg. Z) (81
FR 25323, Apr. 28, 2016).
\2\ Generally, these are dealers ``predominantly engaged in the
sale and servicing of motor vehicles, the leasing and servicing of
motor vehicles, or both.'' See Dodd-Frank Act, Sec. 1029(a), (c),
12 U.S.C. 5519(a), (c).
\3\ See Dodd-Frank Act, Sec. 1075, 15 U.S.C. 1693 (these
requirements are implemented through Board Regulation II, 12 CFR pt.
235, rather than EFTA's implementing Regulation E).
---------------------------------------------------------------------------
As a result of the Dodd-Frank Act, the FTC and the CFPB generally
share the authority to enforce Regulations B, E, M, and Z for entities
for which the FTC had enforcement authority before the Act, except for
certain motor vehicle dealers.\4\ Because of this shared
[[Page 51356]]
enforcement jurisdiction, the two agencies have divided the FTC's
previously-cleared PRA burden estimates between them,\5\ except that
the FTC has assumed all of the burden estimates associated with motor
vehicle dealers \6\ and state-chartered credit unions. The division of
PRA burden hours not attributable to motor vehicle dealers and state-
chartered credit unions is reflected in the CFPB's PRA clearance
requests to OMB, as well as in the FTC's burden estimates below.
---------------------------------------------------------------------------
\4\ The FTC's enforcement authority includes state-chartered
credit unions; other federal agencies also have various enforcement
authority over credit unions. For example, for large credit unions
(exceeding $10 billion in assets), the CFPB has certain authority.
The National Credit Union Administration also has certain authority
for state-chartered federally insured credit unions, and it
additionally provides insurance for certain state-chartered credit
unions through the National Credit Union Share Insurance Fund and
examines credit unions for various purposes. There are approximately
three state-chartered credit unions exceeding $10 billion in assets,
and the CFPB assumes PRA burden for those entities. As of the fourth
quarter of 2020, there were approximately 2,126 state-chartered
credit unions--1,914 which were federally insured, an estimated 112
or more which were privately insured, and an estimated 100 or more
in Puerto Rico which were insured by a quasi-governmental entity.
Because of the difficulty in parsing out PRA burden for such
entities in view of the overlapping authority, the FTC's figures
include PRA burden for all state-chartered credit unions. However,
in view of fluctuations due to COVID-19 and to avoid undercounting,
we have retained the prior estimate of 2,300 state-chartered credit
unions. As noted above, the CFPB's figures as to state-chartered
credit unions include burden for those entities exceeding $10
billion in assets. See generally Dodd-Frank Act, Sec. Sec. 1061,
1025, 1026. This attribution does not change actual enforcement
authority.
\5\ The CFPB also factors into its burden estimates respondents
over which it has jurisdiction but the FTC does not.
\6\ See Dodd-Frank Act Sec. 1029, 12 U.S.C. 5519(a), as to
motor vehicle dealers, as limited by subsection (b). Subsection (b)
does not preclude CFPB regulatory oversight regarding, among others,
businesses that extend retail credit or retail leases for motor
vehicles in which the credit or lease offered is provided directly
from those businesses, rather than unaffiliated third parties, to
consumers. It is not practicable, however, for PRA purposes, to
estimate the portion of dealers that engage in one form of financing
versus another (and that would or would not be subject to CFPB
oversight). Thus, FTC staff's PRA burden analysis reflects a general
estimated volume of motor vehicle dealers. This attribution does not
change actual enforcement authority.
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Pursuant to the Dodd-Frank Act, the FTC generally has sole
authority to enforce Regulations B, E, M, and Z regarding certain motor
vehicle dealers predominantly engaged in the sale and servicing of
motor vehicles, the leasing and servicing of motor vehicles, or both,
that, among other things, assign their contracts to unaffiliated third
parties.\7\ Because the FTC has exclusive jurisdiction to enforce these
rules for such motor vehicle dealers and retains its concurrent
authority with the CFPB for other types of motor vehicle dealers, and
in view of the different types of motor vehicle dealers, the FTC
retains the entire PRA burden for motor vehicle dealers in the burden
estimates below.
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\7\ See Dodd-Frank Act, Sec. 1029, 12 U.S.C. 5519(a), (c).
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1. Regulation B
The ECOA prohibits discrimination in the extension of credit.
Regulation B implements the ECOA, establishing disclosure requirements
to assist customers in understanding their rights under the ECOA and
recordkeeping requirements to assist agencies in enforcement.
Regulation B applies to retailers, mortgage lenders, mortgage brokers,
finance companies, and others.
Estimated Annual Burden Hours: 1,797,798 hours (Total).
Recordkeeping: 708,886 hours.
Disclosures: 1,088,912 hours.
Estimated Annual Labor Costs: $65,320,576 (Total).
Recordkeeping: $15,666,176.
Disclosures: $49,654,400.
Estimated Annual Non-Labor Costs: $0.
2. Regulation E
The EFTA requires that covered entities provide consumers with
accurate disclosure of the costs, terms, and rights relating to EFT and
certain other services. Regulation E implements the EFTA, establishing
disclosure and other requirements to aid consumers and recordkeeping
requirements to assist agencies with enforcement. It applies to
financial institutions, retailers, gift card issuers and others that
provide gift cards, service providers, various federal and state
agencies offering EFTs, prepaid account entities, and others.
Estimated Annual Burden Hours: Total: 7,435,956 hours.
Recordkeeping: 251,053 hours.
Disclosures: 7,184,903 hours.
Estimated Annual Labor Costs: $332,803,360 (Total).
Recordkeeping: $5,171,684.
Disclosures: $327,631,676.
Estimated Annual Non-Labor Costs: $0.
3. Regulation M
The CLA requires that covered entities provide consumers with
accurate disclosure of the costs and terms of leases. Regulation M
implements the CLA, establishing disclosure requirements to help
consumers comparison shop and understand the terms of leases and
recordkeeping requirements. It applies to vehicle lessors (such as auto
dealers, independent leasing companies, and manufacturers' captive
finance companies), computer lessors (such as computer dealers and
other retailers), furniture lessors, various electronic commerce
lessors, diverse types of lease advertisers, and others.
Estimated Annual Burden Hours: 101,953 hours (Total).
Recordkeeping: 30,203 hours.
Disclosures: 71,750 hours.
Estimated Annual Labor Costs: $5,954,060 (Total).
Recordkeeping: $1,763,860.
Disclosures: $4,190,200.
Estimated Annual Non-Labor Costs: $0.
4. Regulation Z
The TILA was enacted to foster comparison credit shopping and
informed credit decisionmaking by requiring creditors and others to
provide accurate disclosures regarding the costs and terms of credit to
consumers. Regulation Z implements the TILA, establishing disclosure
requirements to assist consumers and recordkeeping requirements to
assist agencies with enforcement. These requirements pertain to open-
end and closed-end credit and apply to various types of entities,
including mortgage companies; finance companies; auto dealerships;
private education loan companies; merchants who extend credit for goods
or services; credit advertisers; acquirers of mortgages; and others.
Additional requirements also exist in the mortgage area, including for
high cost mortgages, higher-priced mortgage loans,\8\ ability to pay of
mortgage consumers, mortgage servicing, loan originators, and certain
integrated mortgage disclosures.
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\8\ While Regulation Z also requires the creditor to provide a
short written disclosure regarding the appraisal process for higher-
priced mortgage loans, the disclosure is provided by the CFPB. As a
result, it is not a ``collection of information'' for PRA purposes
(see 5 CFR 1320.3(c)(2)).
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Estimated Annual Burden Hours: 8,416,441 (Total).
Recordkeeping: 561,866 hours.
Disclosures: 7,854,575 hours.
Estimated Annual Labor Costs: $369,744,078 (Total).
Recordkeeping: $11,574,450.
Disclosures: $358,169,628.
Estimated Annual Non-Labor Costs: $0.
Request for Comment: On May 17, 2021, the Commission sought comment
on the information collection requirements associated with Regulations
B, E, M, and Z. 86 FR 26,725 (May 17, 2021). No relevant comments were
received. Pursuant to the OMB regulations, 5 CFR part 1320, the FTC is
providing this second opportunity for public comment while seeking OMB
approval to renew clearance for the Rule's information collection
requirements.
Your comment--including your name and your state--will be placed on
the public record of this proceeding.
[[Page 51357]]
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.
Josephine Liu,
Assistant General Counsel for Legal Counsel.
[FR Doc. 2021-19904 Filed 9-14-21; 8:45 am]
BILLING CODE 6750-01-P
