Agency Information Collection Activities; Proposed Collection; Comment Request; Extension, 71861-71864 [2023-22965]
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Federal Register / Vol. 88, No. 200 / Wednesday, October 18, 2023 / Notices
increase of renewals of the nationwide
licensees. The recordkeeping, reporting,
and third-party disclosure requirements
will be used by the Commission to
verify licensee compliance with the
Commission rules and regulations, and
to ensure that licensees continue to
fulfill their statutory responsibilities in
accordance with the Communications
Act of 1934. The Commission’s rules
promote the private sector development
and use of 71–76 GHz, 81–86 GHz, and
92–95 GHz bands (70/80/90 GHz bands).
Such information has been used in the
past and will continue to be used to
minimize interference, verify that
applicants are legally and technically
qualified to hold license, and to
determine compliance with Commission
rules.
Federal Communications Commission.
Marlene Dortch,
Secretary, Office of the Secretary.
[FR Doc. 2023–22942 Filed 10–17–23; 8:45 am]
BILLING CODE 6712–01–P
FEDERAL RESERVE SYSTEM
Sunshine Act Meetings
Board of
Governors of the Federal Reserve
System.
TIME AND DATE: 9:30 a.m. on Tuesday,
October 24, 2023.
PLACE: Martin Federal Reserve Board
Building, C Street entrance between
20th and 21st Streets NW, Washington,
DC 20551.
STATUS: Open.
On the day of the meeting, you will
be able to view the meeting via webcast
from a link available on the Board’s
website. You do not need to register to
view the webcast of the meeting. A link
to the meeting documentation will also
be available approximately 20 minutes
before the start of the meeting. Both
links may be accessed from the Board’s
website at www.federalreserve.gov.
If you plan to attend the open meeting
in person, we ask that you notify us in
advance and provide your name, date of
birth, and social security number (SSN)
or passport number. You may provide
this information by calling 202–452–
2474 or you may register online at
www.federalreserve.gov. You may preregister until close of business on
October 23, 2023. You also will be asked
to provide identifying information,
including a photo ID, before being
admitted to the Board meeting. The
Public Affairs Office must approve the
use of cameras; please email media@
frb.gov for further information. If you
need an accommodation for a disability,
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AGENCY HOLDING THE MEETING:
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please contact Penelope Beattie on 202–
452–3982. For users of telephone
systems via text telephone (TTY) or any
TTY-based Telecommunications Relay
Services (TRS), please call 202–263–
4869 or dial 7–1–1 from any telephone,
anywhere in the United States.
Privacy Act Notice: The information
you provide will be used to assist us in
prescreening you to ensure the security
of the Board’s premises and personnel.
In order to do this, we may disclose
your information consistent with the
routine uses listed in the Privacy Act
Notice for BGFRS–32, including to
appropriate Federal, State, local, or
foreign agencies where disclosure is
reasonably necessary to determine
whether you pose a security risk or
where the security or confidentiality of
your information has been
compromised. We are authorized to
collect your information by 12 U.S.C.
243 and 248, and Executive Order 9397.
In accordance with Executive Order
9397, we collect your SSN so that we
can keep accurate records, because other
people may have the same name and
birth date. In addition, we use your SSN
when we make requests for information
about you from law enforcement and
other regulatory agency databases.
Furnishing the information requested is
voluntary; however, your failure to
provide any of the information
requested may result in disapproval of
your request for access to the Board’s
premises. You may be subject to a fine
or imprisonment under 18 U.S.C. 1001
for any false statements you make in
your request to enter the Board’s
premises.
MATTERS TO BE CONSIDERED:
Discussion Agenda
1. Final Rule To Revise the Regulation
Implementing the Community
Reinvestment Act
Notes: 1. For those attending in
person, the staff memo will be available
to attendees on the day of the meeting
in paper. Meeting documentation will
be available on the Board’s website
about 20 minutes before the start of the
meeting.
2. This meeting will be recorded for
the benefit of those unable to attend.
The webcast recording and a transcript
of the meeting will be available after the
meeting on the Board’s website https://
www.federalreserve.gov/aboutthefed/
boardmeetings/.
FOR QUESTIONS PLEASE CONTACT: Public
Affairs Office at media@frb.gov.
SUPPLEMENTARY INFORMATION: You may
access the Board’s website at
www.federalreserve.gov for an electronic
announcement. (The website also
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71861
includes procedural and other
information about the open meeting.)
Dated: October 13, 2023.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2023–22992 Filed 10–17–23; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL TRADE COMMISSION
Agency Information Collection
Activities; Proposed Collection;
Comment Request; Extension
Federal Trade Commission.
Notice.
AGENCY:
ACTION:
In accordance with the
Paperwork Reduction Act of 1995
(PRA), the Federal Trade Commission
(FTC or Commission) is seeking public
comment on its proposal to extend for
an additional three years the Office of
Management and Budget clearance for
information collection requirements in
the Privacy of Consumer Financial
Information Rule (Privacy Rule or Rule).
This clearance expires on January 31,
2024.
SUMMARY:
Comments must be filed by
December 18, 2023.
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
below. Write ‘‘Privacy Rule, PRA
Comment, P085405,’’ on your comment,
and file your comment online at https://
www.regulations.gov by following the
instructions on the web-based form. If
you prefer to file your comment on
paper, mail your comment to the
following address: Federal Trade
Commission, Office of the Secretary,
600 Pennsylvania Avenue NW, Suite
CC–5610 (Annex J), Washington, DC
20580.
DATES:
FOR FURTHER INFORMATION CONTACT:
Jennifer Rimm, Attorney, Division of
Privacy and Identity Protection, Bureau
of Consumer Protection, Federal Trade
Commission, (202) 326–2277, jrimm@
ftc.gov.
SUPPLEMENTARY INFORMATION:
Title of Collection: Privacy of
Consumer Financial Information
(Gramm-Leach-Bliley Act Privacy Rule),
16 CFR part 313.
OMB Control Number: 3084–0121.
Type of Review: Extension without
change of currently approved collection.
Affected Public: Private Sector:
Businesses and other for-profit entities.
Estimated Annual Burden Hours:
1,454,850.
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Federal Register / Vol. 88, No. 200 / Wednesday, October 18, 2023 / Notices
Estimated Annual Labor Costs:
$35,820,366.
Abstract: The Privacy Rule is
designed to ensure that customers and
consumers, subject to certain
exceptions, will have access to the
privacy policies of the covered financial
institutions with which they conduct
business—namely, motor vehicle
dealers that do not routinely extend
credit to consumers directly without
assigning the credit to unaffiliated third
parties (hereafter, ‘‘motor vehicle
dealers’’). As mandated by the GrammLeach-Bliley Act (‘‘GLBA’’), 15 U.S.C.
6801–6809, the Rule requires motor
vehicle dealers to disclose to
consumers: (1) initial notice of the
financial institution’s privacy policy
when establishing a customer
relationship with a consumer and/or
before sharing a consumer’s nonpublic
personal information with certain
nonaffiliated third parties; (2) notice of
the consumer’s right to opt out of
information sharing with such parties;
(3) annual notice of the institution’s
privacy policy to any continuing
customer; 1 and (4) notice of changes in
the institution’s practices on
information sharing. These
requirements are subject to the PRA.
The Rule does not require
recordkeeping. For PRA burden
calculations, the FTC shares the PRA
burden with the CFPB for financial
institutions over which both agencies
have enforcement authority under the
CFPB’s regulation corresponding to the
Privacy Rule, titled Privacy of Consumer
Financial Information (Regulation P), 12
CFR part 1016, and attributes to itself
the burden for all motor vehicle dealers.
See 12 U.S.C. 5519.
As required by section 3506(c)(2)(A)
of the PRA, 44 U.S.C. 3506(c)(2)(A), the
FTC is providing this opportunity for
public comment before requesting that
OMB extend the existing clearance for
the information collection requirements
contained in the Rule.
Burden Estimates: FTC staff estimates
that approximately 29,500 non-motor
vehicle dealer financial institutions are
subject to FTC jurisdiction under
Regulation P, consisting of
approximately 29,000 established
entities and 500 new entrants annually
during the renewal period. The
complete burden estimates for new
entrants and established entities are
detailed in the charts below.
Hours per
respondent
Activity
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Approx. total
annual hrs.
For established entities, staff believes
that the model privacy form and the
Online Form Builder reduce the time
associated with providing required
initial and annual notices. Businesses
who have not changed their privacy
notice since the last notice sent and who
do not share information with nonaffiliated third parties outside of certain
statutory exceptions are not required to
issue annual notices to their customers
under the Rule. FTC staff thus estimates
that at least 80% of businesses covered
by Regulation P that have continuing
relationships with customers exceeding
one year will not be required to issue
annual notices because they do not
make changes to their policies or share
nonpublic information outside of the
statutory exceptions. Finally, staff
estimates that no more than 1% of the
estimated 29,000 established-entity
respondents would make additional
changes to privacy policies at any time
other than the occasion of the annual
notice.
2. New Entrant Financial Institutions
FTC
portion
Hourly wage and
labor category 3
$39.52 Professional/Technical
Approx. total
labor costs
4
29,000
116,000
58,000
15
15
5
7
3
29,000
4,060
4,060
290
290
435,000
60,900
20,300
2,030
870
217,500
30,450
10,150
1,015
435
$19.67
$19.67
$39.52
$19.67
$39.52
Clerical .........................
Clerical .........................
Professional/Technical
Clerical .........................
Professional/Technical
4,278,225
598,952
401,128
19,965
17,191
....................
........................
635,100
317,550
..................................................
7,607,621
Reviewing internal policies and developing GLB Actimplementing instructions 4.
Disseminating initial notices to new customers .........
Disseminating annual disclosure to pre-existing customers.
Updating privacy policies and related disclosures .....
Totals ...................................................................
Approx.
number of
respondents 2
1. Established Financial Institutions
$2,292,160
New entrant financial institutions
subject to FTC jurisdiction under
Regulation P must provide initial
disclosure notices to their consumers,
including taking the time to develop
implementing policies and procedures
and create disclosure documents to
effectuate the disclosure requirements.
Staff’s estimates of annual burden for
established entities are as follows:
1 On December 4, 2015, Congress amended the
GLBA as part of the Fixing America’s Surface
Transportation Act (‘‘FAST Act’’). The FAST Act
included a subsection titled Eliminate Privacy
Notice Confusion (FAST Act, Pub. L. 114-094,
section 75001) that added new GLBA section 503(f).
This subsection provides an exception under which
financial institutions that meet certain conditions
are not required to provide annual privacy notices
to customers. Section 503(f) requires that to qualify
for this exception, a financial institution must not
share nonpublic personal information about
customers except as described in certain statutory
exceptions, under which sharing does not trigger a
customer’s statutory right to opt out of the sharing.
In addition, section 503(f)(2) requires that the
financial institution must not have changed its
policies and practices with regard to disclosing
nonpublic personal information from those that the
institution disclosed in the most recent privacy
notice the customer received. On December 9, 2021,
the Privacy Rule was amended at 16 CFR 313.5(e)
to incorporate this exception. The amendments
were effective January 10, 2022. 86 FR 70020 (Dec.
9, 2021).
2 The estimate of respondents which are required
to disseminate annual notices is based on the
following assumptions: (1) 29,000 established
respondents; (2) of those, approximately 70%
maintain customer relationships exceeding one year
(20,300), and no more than 20% of those (together,
4,060) make changes to their policies and share
nonpublic information outside of the statutory
exceptions, and therefore are required to provide
annual notices under the Rule (this is consistent
with the main text above that at least 80% of
businesses covered by Regulation P that have
continuing relationships with customers exceeding
one year will not be required to issue annual
notices because they do not make changes to their
policies or share nonpublic information outside of
the statutory exceptions); (3) and no more than 1%
(290) of established respondents make additional
changes to privacy policies at any time other than
the occasion of the annual notice; and (4) such
changes will occur no more often than once per
year.
3 Staff calculated labor costs by applying
appropriate hourly cost figures to burden hours.
The hourly rates used were based on median wages
for Financial Examiners and for Office and
Administrative Support, corresponding to
professional/technical time (e.g., compliance
evaluation and planning, designing and producing
notices, reviewing and updating information
systems), and clerical time (e.g., reproduction tasks,
filing, and, where applicable to the given event,
typing or mailing) respectively. See U.S. Bureau of
Labor Statistics Occupational Employment and
Wages, May 2022, at https://www.bls.gov/oes/
tables.htm.
4 This includes all efforts performed by or for the
respondent to determine whether and to what
extent the respondent is covered by an agency
collection of information, understand the nature of
the request, and determine the appropriate response
(including the creation and dissemination of
documents and/or electronic disclosures).
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Federal Register / Vol. 88, No. 200 / Wednesday, October 18, 2023 / Notices
Approx.
number of
respondents
Hours per
respondent
Activity
Approx. total
annual hrs.
FTC
portion
Hourly wage and
labor category 5
Approx. total
labor costs
Reviewing internal policies and developing GLB Actimplementing instructions.
Creating disclosure document or electronic disclosure (including initial, annual, and opt-out disclosures).
Disseminating initial disclosure (including opt-out notices).
20
500
10,000
5,000
1
2
500
500
500
1,000
250
500
$19.67 Clerical .........................
$39.52 Professional/Technical
4,918
19,760
15
10
500
500
7,500
5,000
3,750
2,500
$19.67 Clerical .........................
$39.52 Professional/Technical
73,763
98,800
Totals ...................................................................
....................
........................
24,000
12,000
..................................................
394,841
3. Established Motor Vehicle Dealers
FTC has sole authority over motor
vehicle dealers subject to the Rule. Staff
estimates that approximately 49,000
auto dealers are subject to the Rule’s
requirements, consisting of 47,000
established dealers and 2,000 new
Hours per
respondent
Activity
Reviewing internal policies and developing GLB Act-implementing instructions.
Disseminating initial notices to new customers ......................
Disseminating annual disclosure ............................................
$197,600
entrants annually during the renewal
period. FTC staff provides the following
burden estimates for established motor
vehicle dealers:
Approx. total
annual hrs.
Hourly wage and
labor category 7
Approx. total
labor costs
4
47,000
188,000
$39.52 Professional/Technical ........
$7,429,760
15
15
5
7
3
47,000
6,580
6,580
470
470
705,000
98,700
32,900
3,290
1,410
$19.67
$19.67
$39.52
$19.67
$39.52
Clerical ................................
Clerical ................................
Professional/Technical ........
Clerical ................................
Professional/Technical ........
13,867,350
1,941,429
1,300,208
64,714
55,723
....................
........................
1,029,300
..........................................................
24,659,184
Hours per
respondent
Approx.
number of
respondents
Updating privacy policies and related disclosures ..................
Totals ...............................................................................
Approx.
number of
respondents 6
$39.52 Professional/Technical
71863
4. New Entrant Motor Vehicle Dealers
FTC staff provides the following
burden estimates for new entrant motor
vehicle dealers:
Activity
Reviewing internal policies and developing GLB Act-implementing instructions.
Creating disclosure document or electronic disclosure (including initial, annual, and opt-out disclosures).
Disseminating initial disclosure (including opt-out notices) ....
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Totals ...............................................................................
Approx. total
annual hrs.
2,000
40,000
$39.52 Professional/Technical ........
1
2
15
10
2,000
2,000
2,000
2,000
2,000
4,000
30,000
20,000
$19.67
$39.52
$19.67
$39.52
Clerical ................................
Professional/Technical ........
Clerical ................................
Professional/Technical ........
39,340
158,080
590,100
790,400
....................
........................
96,000
..........................................................
3,158,720
equipment and software necessary to
disseminate the required disclosures via
electronic means.
5 Staff calculated labor costs by applying
appropriate hourly cost figures to burden hours, as
described in footnote 3 above.
6 Commission staff relies on industry estimates of
the total number of motor vehicle dealers in the
United States, based on Census data and Bureau of
Labor Statistics data. Commission staff did not
separately estimate the number of such dealers who
may be covered by the Rule because they do not
routinely extend credit to consumers directly
without assigning the credit to unaffiliated third
parties.
18:01 Oct 17, 2023
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Request for Comment
Pursuant to section 3506(c)(2)(A) of
the PRA, the FTC invites comments on:
(1) whether the disclosure and
recordkeeping 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) ways to
enhance the quality, utility, and clarity
of the information to be collected; and
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Approx. total
labor costs
20
Estimated Non-Labor Costs: Staff
believes that capital or other non-labor
costs associated with these information
collection requirements are minimal.
Staff anticipates that covered entities are
already equipped to provide written
notices (e.g., computers with word
processing programs, copying machines,
mailing capabilities). In addition, staff
anticipates that entities that offer
consumers the choice to receive notices
via electronic format will already have
an online presence to support this
option. As such, these entities will
already be equipped with the computer
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Hourly wage and
labor category
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$1,580,800
(4) ways to minimize the burden of the
collection of information.
For the FTC to consider a comment,
we must receive it on or before
December 18, 2023. Your comment,
including your name and your state,
will be placed on the public record of
this proceeding, including the https://
www.regulations.gov website.
You can file a comment online or on
paper. Due to heightened security
screening, postal mail addressed to the
Commission will be subject to delay. We
encourage you to submit your comments
online through the https://
www.regulations.gov website.
7 Staff calculated labor costs by applying
appropriate hourly cost figures to the burden hours
described above. See BLS Occupational
Employment and Wages, May 2022, at https://
www.bls.gov/oes/tables.htm.
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71864
Federal Register / Vol. 88, No. 200 / Wednesday, October 18, 2023 / Notices
If you file your comment on paper,
write ‘‘Privacy Rule, PRA Comment,
P085405,’’ on your comment and on the
envelope, and mail it to the following
address: Federal Trade Commission,
Office of the Secretary, 600
Pennsylvania Avenue NW, Suite CC–
5610 (Annex J), Washington, DC 20580.
If possible, submit your paper comment
to the Commission by overnight service.
Because your comment will become
publicly available at https://
www.regulations.gov, you are solely
responsible for making sure that your
comment does not include any sensitive
or confidential information. In
particular, your comment should not
include any sensitive personal
information, such as your or anyone
else’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, such as medical
records or other individually
identifiable health information. In
addition, your comment should not
include any ‘‘trade secret or any
commercial or financial information
which . . . is privileged or
confidential’’—as provided by 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)—
including, in particular, competitively
sensitive information, such as costs,
sales statistics, inventories, formulas,
patterns, devices, manufacturing
processes, or customer names.
Comments containing material for
which confidential treatment is
requested must (1) be filed in paper
form, (2) be clearly labeled
‘‘Confidential,’’ and (3) comply with
FTC Rule 4.9(c). 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). Your
comment will be kept confidential only
if the General Counsel grants your
request in accordance with the law and
the public interest. Once your comment
has been posted publicly at
www.regulations.gov, we cannot redact
or remove your comment unless you
submit a confidentiality request that
meets the requirements for such
treatment under FTC Rule 4.9(c), and
the General Counsel grants that request.
The FTC Act and other laws that the
Commission administers permit the
collection of public comments to
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18:01 Oct 17, 2023
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consider and use in this proceeding as
appropriate. The Commission will
consider all timely and responsive
public comments that it receives on or
before December 18, 2023. For
information on the Commission’s
privacy policy, including routine uses
permitted by the Privacy Act, see
https://www.ftc.gov/site-information/
privacy-policy.
Josephine Liu,
Assistant General Counsel for Legal Counsel.
[FR Doc. 2023–22965 Filed 10–17–23; 8:45 am]
BILLING CODE 6750–01–P
DEPARTMENT OF DEFENSE
GENERAL SERVICES
ADMINISTRATION
NATIONAL AERONAUTICS AND
SPACE ADMINISTRATION
[MV–2023–02; Docket No. 2023–0053;
Sequence No. 12]
Improvements to the Federal
Acquisition Regulation Standard
Forms in the GSA Forms Library
Department of Defense (DOD),
General Services Administration (GSA),
and National Aeronautics and Space
Administration (NASA).
ACTION: Notice.
AGENCY:
DoD, GSA, and NASA
announce improvements to the Federal
Acquisition Regulation (FAR) standard
forms found in the GSA Forms Library.
DATES: The updated forms will begin to
be available on the GSA’s Forms Library
at https://www.gsa.gov/forms following
the publication of this notice, October
18, 2023.
FOR FURTHER INFORMATION CONTACT:
Zenaida Delgado, zenaida.delgado@
gsa.gov or call 202–969–4075. Please
cite ‘‘FAR standard forms’’ in the
subject line.
SUPPLEMENTARY INFORMATION: In support
of Executive Order 13985 of January 20,
2021, Advancing Racial Equity and
Support for Underserved Communities
Through the Federal Government, a
review of the standard forms covered by
the FAR was conducted. The review
focused on equity issues to remove
barriers to access for underserved
communities by identifying ways to
improve the usability of the FAR
standard forms. An organizational
psychologist with over 20 years of
consulting experience supporting
commercial and federal organizations
was part of the review team.
The review resulted in the
identification of potential changes to
SUMMARY:
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improve the accessibility of the FAR
forms. The changes are considered best
practices to support readability for a
variety of individuals (visual disabilities
and/or learning difficulties). Adopting
these changes has the advantage of
making the forms easier to read for
everyone.
DoD, GSA, and NASA agreed to apply
a set of uniform visual improvements to
the FAR standard forms. The six
improvements are as follows:
1. Replace text in all CAPS with
standard title form text (i.e., for each
word capitalize the first letter). Use bold
text to identify titles.
2. Use consistent font size; adjust
form to 12-point text.
3. Replace centered text with left
justified.
4. Replace italicized text with
standard text.
5. Increase the space between lines of
text throughout the form.
6. Move the Paperwork Reduction Act
(PRA) statement to the end of the form
for forms subject to the PRA.
Other changes made to the FAR
standard forms include updated
citations, and editorial corrections.
DoD, GSA, and NASA expect these
changes, all of which comport with
section 508 of the Rehabilitation Act,
will improve the forms usability and
will be received well by members of the
public and Government alike.
William F. Clark,
Director, Office of Governmentwide
Acquisition Policy, Office of Acquisition
Policy, Office of Governmentwide Policy.
[FR Doc. 2023–22920 Filed 10–17–23; 8:45 am]
BILLING CODE 6820–EP–P
DEPARTMENT OF DEFENSE
GENERAL SERVICES
ADMINISTRATION
NATIONAL AERONAUTICS AND
SPACE ADMINISTRATION
[OMB Control No. 9000–0205; Docket No.
2023–0053; Sequence No. 11]
Information Collection; Implementation
of Federal Acquisition Supply Chain
Security Act (FASCSA) Orders
Department of Defense (DOD),
General Services Administration (GSA),
and National Aeronautics and Space
Administration (NASA).
ACTION: Notice and request for
comments.
AGENCY:
DoD, GSA, and NASA invite
public comment on a proposed
emergency information collection that
will be submitted to the Office of
SUMMARY:
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]]>Agencies
[Federal Register Volume 88, Number 200 (Wednesday, October 18, 2023)]
[Notices]
[Pages 71861-71864]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-22965]
=======================================================================
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FEDERAL TRADE COMMISSION
Agency Information Collection Activities; Proposed Collection;
Comment Request; Extension
AGENCY: Federal Trade Commission.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA),
the Federal Trade Commission (FTC or Commission) is seeking public
comment on its proposal to extend for an additional three years the
Office of Management and Budget clearance for information collection
requirements in the Privacy of Consumer Financial Information Rule
(Privacy Rule or Rule). This clearance expires on January 31, 2024.
DATES: Comments must be filed by December 18, 2023.
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 below. Write ``Privacy Rule, PRA
Comment, P085405,'' on your comment, and file your comment online at
https://www.regulations.gov by following the instructions on the web-
based form. If you prefer to file your comment on paper, mail your
comment to the following address: Federal Trade Commission, Office of
the Secretary, 600 Pennsylvania Avenue NW, Suite CC-5610 (Annex J),
Washington, DC 20580.
FOR FURTHER INFORMATION CONTACT: Jennifer Rimm, Attorney, Division of
Privacy and Identity Protection, Bureau of Consumer Protection, Federal
Trade Commission, (202) 326-2277, [email protected].
SUPPLEMENTARY INFORMATION:
Title of Collection: Privacy of Consumer Financial Information
(Gramm-Leach-Bliley Act Privacy Rule), 16 CFR part 313.
OMB Control Number: 3084-0121.
Type of Review: Extension without change of currently approved
collection.
Affected Public: Private Sector: Businesses and other for-profit
entities.
Estimated Annual Burden Hours: 1,454,850.
[[Page 71862]]
Estimated Annual Labor Costs: $35,820,366.
Abstract: The Privacy Rule is designed to ensure that customers and
consumers, subject to certain exceptions, will have access to the
privacy policies of the covered financial institutions with which they
conduct business--namely, motor vehicle dealers that do not routinely
extend credit to consumers directly without assigning the credit to
unaffiliated third parties (hereafter, ``motor vehicle dealers''). As
mandated by the Gramm-Leach-Bliley Act (``GLBA''), 15 U.S.C. 6801-6809,
the Rule requires motor vehicle dealers to disclose to consumers: (1)
initial notice of the financial institution's privacy policy when
establishing a customer relationship with a consumer and/or before
sharing a consumer's nonpublic personal information with certain
nonaffiliated third parties; (2) notice of the consumer's right to opt
out of information sharing with such parties; (3) annual notice of the
institution's privacy policy to any continuing customer; \1\ and (4)
notice of changes in the institution's practices on information
sharing. These requirements are subject to the PRA. The Rule does not
require recordkeeping. For PRA burden calculations, the FTC shares the
PRA burden with the CFPB for financial institutions over which both
agencies have enforcement authority under the CFPB's regulation
corresponding to the Privacy Rule, titled Privacy of Consumer Financial
Information (Regulation P), 12 CFR part 1016, and attributes to itself
the burden for all motor vehicle dealers. See 12 U.S.C. 5519.
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\1\ On December 4, 2015, Congress amended the GLBA as part of
the Fixing America's Surface Transportation Act (``FAST Act''). The
FAST Act included a subsection titled Eliminate Privacy Notice
Confusion (FAST Act, Pub. L. 114-094, section 75001) that added new
GLBA section 503(f). This subsection provides an exception under
which financial institutions that meet certain conditions are not
required to provide annual privacy notices to customers. Section
503(f) requires that to qualify for this exception, a financial
institution must not share nonpublic personal information about
customers except as described in certain statutory exceptions, under
which sharing does not trigger a customer's statutory right to opt
out of the sharing. In addition, section 503(f)(2) requires that the
financial institution must not have changed its policies and
practices with regard to disclosing nonpublic personal information
from those that the institution disclosed in the most recent privacy
notice the customer received. On December 9, 2021, the Privacy Rule
was amended at 16 CFR 313.5(e) to incorporate this exception. The
amendments were effective January 10, 2022. 86 FR 70020 (Dec. 9,
2021).
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As required by section 3506(c)(2)(A) of the PRA, 44 U.S.C.
3506(c)(2)(A), the FTC is providing this opportunity for public comment
before requesting that OMB extend the existing clearance for the
information collection requirements contained in the Rule.
Burden Estimates: FTC staff estimates that approximately 29,500
non-motor vehicle dealer financial institutions are subject to FTC
jurisdiction under Regulation P, consisting of approximately 29,000
established entities and 500 new entrants annually during the renewal
period. The complete burden estimates for new entrants and established
entities are detailed in the charts below.
1. Established Financial Institutions
For established entities, staff believes that the model privacy
form and the Online Form Builder reduce the time associated with
providing required initial and annual notices. Businesses who have not
changed their privacy notice since the last notice sent and who do not
share information with non-affiliated third parties outside of certain
statutory exceptions are not required to issue annual notices to their
customers under the Rule. FTC staff thus estimates that at least 80% of
businesses covered by Regulation P that have continuing relationships
with customers exceeding one year will not be required to issue annual
notices because they do not make changes to their policies or share
nonpublic information outside of the statutory exceptions. Finally,
staff estimates that no more than 1% of the estimated 29,000
established-entity respondents would make additional changes to privacy
policies at any time other than the occasion of the annual notice.
2. New Entrant Financial Institutions
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Approx. number
Activity Hours per of respondents Approx. total FTC Hourly wage and labor category Approx. total
respondent \2\ annual hrs. portion \3\ labor costs
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Reviewing internal policies and developing GLB 4 29,000 116,000 58,000 $39.52 Professional/Technical... $2,292,160
Act-implementing instructions \4\.
Disseminating initial notices to new customers 15 29,000 435,000 217,500 $19.67 Clerical................. 4,278,225
Disseminating annual disclosure to pre- 15 4,060 60,900 30,450 $19.67 Clerical................. 598,952
existing customers. 5 4,060 20,300 10,150 $39.52 Professional/Technical... 401,128
Updating privacy policies and related 7 290 2,030 1,015 $19.67 Clerical................. 19,965
disclosures. 3 290 870 435 $39.52 Professional/Technical... 17,191
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Totals.................................... ........... .............. 635,100 317,550 ................................ 7,607,621
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New entrant financial institutions subject to FTC jurisdiction
under Regulation P must provide initial disclosure notices to their
consumers, including taking the time to develop implementing policies
and procedures and create disclosure documents to effectuate the
disclosure requirements. Staff's estimates of annual burden for
established entities are as follows:
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\2\ The estimate of respondents which are required to
disseminate annual notices is based on the following assumptions:
(1) 29,000 established respondents; (2) of those, approximately 70%
maintain customer relationships exceeding one year (20,300), and no
more than 20% of those (together, 4,060) make changes to their
policies and share nonpublic information outside of the statutory
exceptions, and therefore are required to provide annual notices
under the Rule (this is consistent with the main text above that at
least 80% of businesses covered by Regulation P that have continuing
relationships with customers exceeding one year will not be required
to issue annual notices because they do not make changes to their
policies or share nonpublic information outside of the statutory
exceptions); (3) and no more than 1% (290) of established
respondents make additional changes to privacy policies at any time
other than the occasion of the annual notice; and (4) such changes
will occur no more often than once per year.
\3\ Staff calculated labor costs by applying appropriate hourly
cost figures to burden hours. The hourly rates used were based on
median wages for Financial Examiners and for Office and
Administrative Support, corresponding to professional/technical time
(e.g., compliance evaluation and planning, designing and producing
notices, reviewing and updating information systems), and clerical
time (e.g., reproduction tasks, filing, and, where applicable to the
given event, typing or mailing) respectively. See U.S. Bureau of
Labor Statistics Occupational Employment and Wages, May 2022, at
https://www.bls.gov/oes/tables.htm.
\4\ This includes all efforts performed by or for the respondent
to determine whether and to what extent the respondent is covered by
an agency collection of information, understand the nature of the
request, and determine the appropriate response (including the
creation and dissemination of documents and/or electronic
disclosures).
[[Page 71863]]
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Hours per Approx. number Approx. total FTC Hourly wage and labor category Approx. total
Activity respondent of respondents annual hrs. portion \5\ labor costs
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Reviewing internal policies and developing GLB 20 500 10,000 5,000 $39.52 Professional/Technical... $197,600
Act-implementing instructions.
Creating disclosure document or electronic 1 500 500 250 $19.67 Clerical................. 4,918
disclosure (including initial, annual, and 2 500 1,000 500 $39.52 Professional/Technical... 19,760
opt-out disclosures).
Disseminating initial disclosure (including 15 500 7,500 3,750 $19.67 Clerical................. 73,763
opt-out notices). 10 500 5,000 2,500 $39.52 Professional/Technical... 98,800
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Totals.................................... ........... .............. 24,000 12,000 ................................ 394,841
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3. Established Motor Vehicle Dealers
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\5\ Staff calculated labor costs by applying appropriate hourly
cost figures to burden hours, as described in footnote 3 above.
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FTC has sole authority over motor vehicle dealers subject to the
Rule. Staff estimates that approximately 49,000 auto dealers are
subject to the Rule's requirements, consisting of 47,000 established
dealers and 2,000 new entrants annually during the renewal period. FTC
staff provides the following burden estimates for established motor
vehicle dealers:
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Approx. number
Activity Hours per of respondents Approx. total Hourly wage and Approx. total
respondent \6\ annual hrs. labor category \7\ labor costs
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Reviewing internal policies and 4 47,000 188,000 $39.52 $7,429,760
developing GLB Act- Professional/
implementing instructions. Technical.
Disseminating initial notices 15 47,000 705,000 $19.67 Clerical... 13,867,350
to new customers.
Disseminating annual disclosure 15 6,580 98,700 $19.67 Clerical... 1,941,429
5 6,580 32,900 $39.52 1,300,208
Professional/
Technical.
Updating privacy policies and 7 470 3,290 $19.67 Clerical... 64,714
related disclosures. 3 470 1,410 $39.52 55,723
Professional/
Technical.
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Totals..................... ........... .............. 1,029,300 .................. 24,659,184
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4. New Entrant Motor Vehicle Dealers
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\6\ Commission staff relies on industry estimates of the total
number of motor vehicle dealers in the United States, based on
Census data and Bureau of Labor Statistics data. Commission staff
did not separately estimate the number of such dealers who may be
covered by the Rule because they do not routinely extend credit to
consumers directly without assigning the credit to unaffiliated
third parties.
\7\ Staff calculated labor costs by applying appropriate hourly
cost figures to the burden hours described above. See BLS
Occupational Employment and Wages, May 2022, at https://www.bls.gov/oes/tables.htm.
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FTC staff provides the following burden estimates for new entrant
motor vehicle dealers:
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Hours per Approx. number Approx. total Hourly wage and Approx. total
Activity respondent of respondents annual hrs. labor category labor costs
----------------------------------------------------------------------------------------------------------------
Reviewing internal policies and 20 2,000 40,000 $39.52 $1,580,800
developing GLB Act- Professional/
implementing instructions. Technical.
Creating disclosure document or 1 2,000 2,000 $19.67 Clerical... 39,340
electronic disclosure 2 2,000 4,000 $39.52 158,080
(including initial, annual, Professional/
and opt-out disclosures). Technical.
Disseminating initial 15 2,000 30,000 $19.67 Clerical... 590,100
disclosure (including opt-out 10 2,000 20,000 $39.52 790,400
notices). Professional/
Technical.
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Totals..................... ........... .............. 96,000 .................. 3,158,720
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Estimated Non-Labor Costs: Staff believes that capital or other
non-labor costs associated with these information collection
requirements are minimal. Staff anticipates that covered entities are
already equipped to provide written notices (e.g., computers with word
processing programs, copying machines, mailing capabilities). In
addition, staff anticipates that entities that offer consumers the
choice to receive notices via electronic format will already have an
online presence to support this option. As such, these entities will
already be equipped with the computer equipment and software necessary
to disseminate the required disclosures via electronic means.
Request for Comment
Pursuant to section 3506(c)(2)(A) of the PRA, the FTC invites
comments on: (1) whether the disclosure and recordkeeping 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) ways to enhance the
quality, utility, and clarity of the information to be collected; and
(4) ways to minimize the burden of the collection of information.
For the FTC to consider a comment, we must receive it on or before
December 18, 2023. Your comment, including your name and your state,
will be placed on the public record of this proceeding, including the
https://www.regulations.gov website.
You can file a comment online or on paper. Due to heightened
security screening, postal mail addressed to the Commission will be
subject to delay. We encourage you to submit your comments online
through the https://www.regulations.gov website.
[[Page 71864]]
If you file your comment on paper, write ``Privacy Rule, PRA
Comment, P085405,'' on your comment and on the envelope, and mail it to
the following address: Federal Trade Commission, Office of the
Secretary, 600 Pennsylvania Avenue NW, Suite CC-5610 (Annex J),
Washington, DC 20580. If possible, submit your paper comment to the
Commission by overnight service.
Because your comment will become publicly available at https://www.regulations.gov, you are solely responsible for making sure that
your comment does not include any sensitive or confidential
information. In particular, your comment should not include any
sensitive personal information, such as your or anyone else'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, such as medical records or other
individually identifiable health information. In addition, your comment
should not include any ``trade secret or any commercial or financial
information which . . . is privileged or confidential''--as provided by
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)--including, in particular, competitively sensitive
information, such as costs, sales statistics, inventories, formulas,
patterns, devices, manufacturing processes, or customer names.
Comments containing material for which confidential treatment is
requested must (1) be filed in paper form, (2) be clearly labeled
``Confidential,'' and (3) comply with FTC Rule 4.9(c). 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). Your comment will be kept
confidential only if the General Counsel grants your request in
accordance with the law and the public interest. Once your comment has
been posted publicly at www.regulations.gov, we cannot redact or remove
your comment unless you submit a confidentiality request that meets the
requirements for such treatment under FTC Rule 4.9(c), and the General
Counsel grants that request.
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 December 18,
2023. For information on the Commission's privacy policy, including
routine uses permitted by the Privacy Act, see https://www.ftc.gov/site-information/privacy-policy.
Josephine Liu,
Assistant General Counsel for Legal Counsel.
[FR Doc. 2023-22965 Filed 10-17-23; 8:45 am]
BILLING CODE 6750-01-P
