Federal Trade Commission April 2012 – Federal Register Recent Federal Regulation Documents

The FTC intends to ask the Office of Management and Budget (``OMB'') to extend through April 30, 2015, the current Paperwork Reduction Act (``PRA'') clearance for the information collection requirements in four consumer financial regulations enforced by the Commission. Those clearances expire on April 30, 2012.

Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act transferred rulemaking authority for a number of consumer financial protection laws to the Consumer Financial Protection Bureau (``CFPB''). As a result, the Commission is rescinding the following rules under the Fair Credit Reporting Act: ``[Identity Theft] Definitions''; ``Free Annual File Disclosures Rule''; ``Prohibition Against Circumventing Treatment as a Nationwide Consumer Reporting Agency''; ``Duration of Active Duty Alerts''; and ``Appropriate Proof of Identity.'' In addition, the Commission is rescinding two rules addressing mortgage advertising and mortgage assistance relief services under the 2009 Omnibus Appropriations Act: ``Mortgage Acts and Practices-Advertising Rule'' and ``Mortgage Assistance Relief Services Rule.'' The Commission is also rescinding its rules governing ``Disclosure Requirements for Depository Institutions Lacking Federal Deposit Insurance'' under the Federal Deposit Insurance Corporation Improvement Act and its ``Procedures for State Application for Exemption from the Provisions of the [Federal Debt Collection Practices] Act.'' These rules have been republished by the CFPB.