Federal Trade Commission ("FTC") is reducing burden estimates/changes based on the shared enforcement jurisdiction for this rule with the Consumer Financial Protection Board ("CFPB") under the Dodd-Frank Act. CFPB has incorporated into its recently submitted burden estimates.
Inventory as of this Action
Requested
Previously Approved
11/30/2013
11/30/2013
11/30/2013
650,000
0
1,300,000
1,950,000
0
3,900,000
0
0
0
Because the Federal Trade Commission ("FTC") has shared enforcement jurisdiction for this rule with the Consumer Financial Protection Board ("CFPB") under the Dodd-Frank Act, the CFPB has incorporated into its recently submitted burden estimates for this rule half of the FTC's pre-existing cleared burden estimates. OMB granted emergency clearance to the CFPB. Accordingly, the FTC is submitting this ICR to reduce its own current burden totals by one-half.
In recognition of the Dodd-Frank Act amendments, this requested adjustment would reduce by half the FTC's previously cleared burden estimate to correlate with the FTC's shared, overlapping enforcement jurisdiction with the CFPB for this rule.
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.
Justification Statement for Reducing Previously Cleared FTC Burden Estimate_mtd.pdf
Covered entities