Notice2021-12331
Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Procedures To Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies Under Section 312 of the Fair and Accurate Credit Transactions Act of 2003
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
June 14, 2021
Issuing agencies
Treasury DepartmentComptroller of the Currency
Abstract
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on a continuing information collection as required by the Paperwork Reduction Act of 1995. An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid OMB control number. The OCC is soliciting comment concerning the renewal of its information collection titled, ``Procedures to Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies under Section 312 of the Fair and Accurate Credit Transactions Act of 2003.'' The OCC also is giving notice that it has sent the collection to OMB for review.
Full Text
<html>
<head>
<title>Federal Register, Volume 86 Issue 112 (Monday, June 14, 2021)</title>
</head>
<body><pre>
[Federal Register Volume 86, Number 112 (Monday, June 14, 2021)]
[Notices]
[Pages 31579-31580]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-12331]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Procedures To Enhance the Accuracy
and Integrity of Information Furnished to Consumer Reporting Agencies
Under Section 312 of the Fair and Accurate Credit Transactions Act of
2003
AGENCY: Office of the Comptroller of the Currency, Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other Federal
agencies to take this opportunity to comment on a continuing
information collection as required by the Paperwork Reduction Act of
1995. An agency may not conduct or sponsor, and a respondent is not
required to respond to, an information collection unless it displays a
currently valid OMB control number. The OCC is soliciting comment
concerning the renewal of its information collection titled,
``Procedures to Enhance the Accuracy and Integrity of Information
Furnished to Consumer Reporting Agencies under Section 312 of the Fair
and Accurate Credit Transactions Act of 2003.'' The OCC also is giving
notice that it has sent the collection to OMB for review.
DATES: Comments must be received by July 14, 2021.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
<bullet> Email: <a href="/cdn-cgi/l/email-protection#10606271797e767f507f73733e64627571633e777f66"><span class="__cf_email__" data-cfemail="ec9c9e8d85828a83ac838f8fc2989e898d9fc28b839a">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, 1557-0238, Office of the Comptroller of the Currency, 400
7th Street SW, Suite 3E-218, Washington, DC 20219.
<bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
<bullet> Fax: (571) 465-4326.
[[Page 31580]]
Instructions: You must include ``OCC'' as the agency name and
``1557-0238'' in your comment. In general, the OCC will publish
comments on <a href="http://www.reginfo.gov">www.reginfo.gov</a> without change, including any business or
personal information provided, such as name and address information,
email addresses, or phone numbers. Comments received, including
attachments and other supporting materials, are part of the public
record and subject to public disclosure. Do not include any information
in your comment or supporting materials that you consider confidential
or inappropriate for public disclosure.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular information
collection by selecting ``Currently under 30-day Review--Open for
Public Comments'' or by using the search function.
You may review comments and other related materials that pertain to
this information collection \1\ following the close of the 30-day
comment period for this notice by the following method:
---------------------------------------------------------------------------
\1\ On March 12, 2021, the OCC published a 60-day notice for
this information collection, 86 FR 14178.
---------------------------------------------------------------------------
<bullet> Viewing Comments Electronically: Go to <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
Click on the ``Information Collection Review'' tab. Underneath the
``Currently under Review'' section heading, from the drop-down menu
select ``Department of Treasury'' and then click ``submit.'' This
information collection can be located by searching by OMB control
number ``1557-0238'' or ``Procedures to Enhance the Accuracy and
Integrity of Information Furnished to Consumer Reporting Agencies under
Section 312 of the Fair and Accurate Credit Transactions Act of 2003.''
Upon finding the appropriate information collection, click on the
related ``ICR Reference Number.'' On the next screen, select ``View
Supporting Statement and Other Documents'' and then click on the link
to any comment listed at the bottom of the screen.
<bullet> For assistance in navigating <a href="http://www.reginfo.gov">www.reginfo.gov</a>, please
contact the Regulatory Information Service Center at (202) 482-7340.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer, (202) 649-5490, Chief Counsel's Office, Office of the
Comptroller of the Currency, 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal
agencies must obtain approval from OMB for each collection of
information that they conduct or sponsor. ``Collection of information''
is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency
requests and requirements that members of the public submit reports,
keep records, or provide information to a third party. The OCC asks
that OMB extend its approval of this collection.
Title: Procedures to Enhance the Accuracy and Integrity of
Information Furnished to Consumer Reporting Agencies under Section 312
of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act).
OMB Control No.: 1557-0238.
Type of Review: Regular.
Description: Pursuant to section 312 of the FACT Act, the OCC
issued guidelines for use by furnishers regarding the accuracy and
integrity of the information about consumers that they furnish to
consumer reporting agencies and prescribed regulations that require
furnishers to establish reasonable policies and procedures for
implementing the guidelines. Section 312 also required the issuance of
regulations identifying the circumstances under which a furnisher must
reinvestigate disputes about the accuracy of information contained in a
consumer report based on a direct request from a consumer.
Twelve CFR 1022.42(a) requires furnishers to establish and
implement reasonable written policies and procedures regarding the
accuracy and integrity of consumer information that they provide to a
consumer reporting agency (CRA).
Twelve CFR 1022.43(a) requires a furnisher to conduct a reasonable
investigation of a dispute initiated directly by a consumer in
specified circumstances and with specified requirements. Duties of
furnishers after they receive a direct dispute notice include
conducting a reasonable investigation and responding to the consumer
within the time period applicable if the consumer had elected to
dispute the information through the CRAs.
Twelve CFR 1022.43(f)(2) incorporates the statutory requirement
that a furnisher must notify a consumer by mail or other means (if
authorized by the consumer) not later than five business days after
making a determination that a dispute is frivolous or irrelevant.
Twelve CFR 1022.43(f)(3) incorporates the statute's content
requirements for the notices.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 1,032 respondents.
Estimated Total Annual Burden: 185,603 hours.
On March 12, 2021, the OCC published a 60-day notice for this
information collection, 86 FR 14178. No comments were received.
Comments continue to be invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the OCC, including whether the
information has practical utility;
(b) The accuracy of the OCC's estimate of the burden of the
collection of information;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of the collection on respondents,
including through the use of automated collection techniques or other
forms of information technology; and
(e) Estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2021-12331 Filed 6-11-21; 8:45 am]
BILLING CODE 4810-33-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on June 14, 2021.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.