In certain circumstances, an insured institution should notify affected customers when it becomes aware of unauthorized access to sensitive customer information.
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US Code: 12 USC 5301 et seq. Name of Law: Dodd-Frank Wall Street Reform And Consumer Protection Act
It is estimated that all covered institutions have developed and produced the notices described in the Guidance. The estimated burden herein is based upon bank supervisory experience that approximately two percent of covered institutions annually will experience an incident of unauthorized access to customer information resulting in customer notification.
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.
0145 (OMB 83C).pdf
spst0145.doc
Notice Regarding Unauthorized Access to Customer Information