Agency Information Collection Activities: Comment Request, 60136 [2022-21523]

Agencies

• BUREAU OF CONSUMER FINANCIAL PROTECTION

[Federal Register Volume 87, Number 191 (Tuesday, October 4, 2022)]
[Notices]
[Page 60136]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-21523]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2022-0065]


Agency Information Collection Activities: Comment Request

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for comment.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA), 
the Consumer Financial Protection Bureau (Bureau or CFPB) is requesting 
to extend the Office of Management and Budget's (OMB's) approval for an 
existing information collection titled ``Truth in Savings (Regulation 
DD)'' approved under OMB Control Number 3170-0004.

DATES: Written comments are encouraged and must be received on or 
before December 5, 2022 to be assured of consideration.

ADDRESSES: You may submit comments, identified by the title of the 
information collection, OMB Control Number (see below), and docket 
number (see above), by any of the following methods:
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments
     Email: [email protected]. Include Docket No. CFPB-
2022-0065 in the subject line of the email.
     Mail/Hand Delivery/Courier: Comment Intake, Consumer 
Financial Protection Bureau (Attention: PRA Office), 1700 G Street NW, 
Washington, DC 20552. Please note that due to circumstances associated 
with the COVID-19 pandemic, the Bureau discourages the submission of 
comments by mail, hand delivery, or courier.
    Please note that comments submitted after the comment period will 
not be accepted. In general, all comments received will become public 
records, including any personal information provided. Sensitive 
personal information, such as account numbers or Social Security 
numbers, should not be included.

FOR FURTHER INFORMATION CONTACT: Documentation prepared in support of 
this information collection request is available at 
www.regulations.gov. Requests for additional information should be 
directed to Anthony May, PRA Officer, at (202) 841-0544, or email: 
[email protected]. If you require this document in an alternative 
electronic format, please contact [email protected]. Please 
do not submit comments to these email boxes.

SUPPLEMENTARY INFORMATION: 
    Title of Collection: Truth in Savings (Regulation DD).
    OMB Control Number: 3170-0004.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Private sector: businesses or other for-profits.
    Estimated Number of Respondents: 146.
    Estimated Total Annual Burden Hours: 19,000.
    Abstract: The Truth in Savings Act (TISA), 12 U.S.C. 4301 et seq. 
was enacted to enhance economic stability, improve competition between 
depository institutions, and strengthen consumer ability to make 
informed decisions regarding deposit accounts by requiring uniformity 
in the disclosure of interest rates and fees. TISA assists consumers in 
comparing deposit accounts offered by depository institutions, 
principally through the disclosure of fees, the annual percentage 
yield, the interest rate, and other account terms. TISA and Regulation 
DD require depository institutions to disclose yields, fees, and other 
terms concerning deposit accounts to consumers at account opening, upon 
request, and when changes in terms occur. Depository institutions that 
provide periodic statements are required to include information about 
fees imposed, interest earned, and the annual percentage yield earned 
during those statement periods. TISA and Regulation DD mandate the 
methods by which institutions determine the account balance on which 
interest is calculated. They also contain rules about advertising 
deposit accounts and overdraft services. Regulation DD requires 
depository institutions subject to TISA to retain evidence of 
compliance with the regulation. These recordkeeping requirements ensure 
that records that might contain evidence of violations of TISA remain 
available to Federal enforcement agencies, as well as to private 
litigants.
    Request for Comments: Comments are invited on: (a) Whether the 
collection of information is necessary for the proper performance of 
the functions of the Bureau, including whether the information will 
have practical utility; (b) The accuracy of the Bureau's estimate of 
the burden of the collection of information, including the validity of 
the methods and the assumptions used; (c) Ways to enhance the quality, 
utility, and clarity of the information to be collected; and (d) Ways 
to minimize the burden of the collection of information on respondents, 
including through the use of automated collection techniques or other 
forms of information technology. Comments submitted in response to this 
notice will be summarized and/or included in the request for OMB's 
approval. All comments will become a matter of public record.

Anthony May,
Paperwork Reduction Act Officer, Consumer Financial Protection Bureau.
[FR Doc. 2022-21523 Filed 10-3-22; 8:45 am]
BILLING CODE 4810-AM-P