Terms of the previous clearance remain in effect. The FTC should consider comments
received regarding the information collection instrument(s)and provide a response and any
necessary adjustments in its next submission to OMB.
Inventory as of this Action
Requested
Previously Approved
08/31/2014
36 Months From Approved
01/31/2013
399,000
0
199,500
16,758,000
0
14,630,000
0
0
0
The amendments to the Fair Credit Reporting Risk-Based Pricing Regulations implement the requirements of Section 1100F of the Dodd-Frank Act by adding content to the risk-based pricing notices and providing additional model notices. The FTC and Federal Reserve Board believe it is important to have these Dodd-Frank Act implementing regulations and revised model notices in place by July 21, 2011 (when the Dodd-Frank requirements become effective) or otherwise no later than 30 days from publication in the Federal Register of the final amendments (the announced effective date of the implementing regulations). This will help ensure that consumers receive consistent disclosures of credit scores and information relating to them and help facilitate uniform compliance when related rulemaking authority transfers to the Bureau of Consumer Financial Protection on July 21, 2011.
PL:
Pub.L. 108 - 159 311
Name of Law: Fair and Accurate Credit Transactions Act of 2003
PL:
Pub.L. 111 - 203 1100F
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
US Code:
15 USC 1681
Name of Law: Fair Credit Reporting Act
PL: Pub.L. 108 - 159 311 Name of Law: Fair and Accurate Credit Transactions Act of 2003
US Code: 15 USC 1681 Name of Law: Fair Credit Reporting Act
The amendments to the Risk-Based Pricing Regulations implement the requirements of Section 1100F of the Dodd-Frank Act by adding content to the risk-based pricing notices and providing additional model notices. The FTC and Federal Reserve Board believe it is important to have these Dodd-Frank Act implementing regulations and revised model notices available in advance of July 21, 2011 (when the Dodd-Frank requirements become effective). The implementing regulations and revised model notices will become effective 30 days from publication in the Federal Register of the final amendments, and will help ensure that consumers receive consistent disclosures of credit scores and information relating to them and help facilitate uniform compliance when related rulemaking authority transfers to the Bureau of Consumer Financial Protection on July 21, 2011.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
RBP Supplemental SS final 7-6-11.doc
Additional one-time burden to implement proposed amendments