Notice2021-27225
Agency Information Collection Activities: Comment Request
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
December 16, 2021
Issuing agencies
Consumer Financial Protection Bureau
Abstract
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is requesting to renew the Office of Management and Budget's (OMB's) approval for an existing information collection titled "Electronic Fund Transfer Act (Regulation E)."
Full Text
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<title>Federal Register, Volume 86 Issue 239 (Thursday, December 16, 2021)</title>
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[Federal Register Volume 86, Number 239 (Thursday, December 16, 2021)]
[Notices]
[Pages 71453-71454]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-27225]
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BUREAU OF CONSUMER FINANCIAL PROTECTION
[Docket No. CFPB-2021-0021]
Agency Information Collection Activities: Comment Request
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Notice and request for comment.
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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA),
the Bureau of Consumer Financial Protection (Bureau) is requesting to
renew the Office of Management and Budget's (OMB's) approval for an
existing information collection titled ``Electronic Fund Transfer Act
(Regulation E).''
DATES: Written comments are encouraged and must be received on or
before February 14, 2022 to be assured of consideration.
ADDRESSES: You may submit comments, identified by the title of the
information collection, OMB Control Number (see below), and docket
number (see above), by any of the following methods:
<bullet> Federal eRulemaking Portal: <a href="http://www.regulations.gov">http://www.regulations.gov</a>.
Follow the instructions for submitting comments.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#09595b48564a6664646c677d7a496a6f796b276e667f"><span class="__cf_email__" data-cfemail="81d1d3c0dec2eeecece4eff5f2c1e2e7f1e3afe6eef7">[email protected]</span></a>. Include Docket No. CFPB-
2021-0021 in the subject line of the email.
<bullet> Mail/Hand Delivery/Courier: Comment intake, Bureau of
Consumer Financial Protection (Attention: PRA Office), 1700 G Street
NW, Washington, DC 20552. Please note that due to circumstances
associated with the COVID-19 pandemic, the Bureau discourages the
submission of comments by mail, hand delivery, or courier. Please note
that comments submitted after the comment period will not be accepted.
In general, all comments received will become public records, including
any personal information provided. Sensitive personal information, such
as account numbers or Social Security numbers, should not be included.
FOR FURTHER INFORMATION CONTACT: Documentation prepared in support of
this information collection request is
[[Page 71454]]
available at <a href="http://www.regulations.gov">www.regulations.gov</a>. Requests for additional information
should be directed to Anthony May, Paperwork Reduction Act Officer, at
(202) 435-7278, or email: <a href="/cdn-cgi/l/email-protection#5c1f1a0c1e030c0e1d1c3f3a2c3e723b332a"><span class="__cf_email__" data-cfemail="470401170518171506072421372569202831">[email protected]</span></a>. If you require this
document in an alternative electronic format, please contact
<a href="/cdn-cgi/l/email-protection#baf9fceaf8e5fbd9d9dfc9c9d3d8d3d6d3cec3fad9dccad894ddd5cc"><span class="__cf_email__" data-cfemail="94d7d2c4d6cbd5f7f7f1e7e7fdf6fdf8fde0edd4f7f2e4f6baf3fbe2">[email protected]</span></a>. Please do not submit comments to these
email boxes.
SUPPLEMENTARY INFORMATION:
Title of Collection: Electronic Fund Transfer Act (Regulation E) 12
CFR 1005.
OMB Control Number: 3170-0014.
Type of Review: Extension of a currently approved information
collection.
Affected Public: Businesses and other for-profit institutions.
Estimated Number of Respondents: 600,000.
Estimated Total Annual Burden Hours: 3,353,592.
Abstract: The Electronic Fund Transfer Act (EFTA), 15 U.S.C. 1693
et seq., requires accurate disclosure of the costs, terms, and rights
relating to electronic fund transfer (EFT) services and remittance
transfer services to consumers. Entities offering EFT services must
provide consumers with full and accurate information regarding
consumers' rights and responsibilities in connection with EFT services.
These disclosures are intended to protect the rights of consumers using
EFT services, such as automated teller machine (ATM) transfers,
telephone bill-payment services, point-of-sale transfers at retail
establishments, electronic check conversion, payroll cards, and
preauthorized transfers from or to a consumer's account. EFTA also
establishes error resolution procedures and limits consumer liability
for unauthorized transfers in connection with EFT services. EFTA and
Regulation E impose disclosure and other requirements on issuers and
sellers of gift cards, gift certificates, and general-use prepaid
cards. Further, EFTA and Regulation E provide protections for consumers
in the United States who send remittance transfers to persons in a
foreign country. It also provides comprehensive protections for
consumers who use ``prepaid accounts.'' Tailored provisions governing
disclosures, limited liability, error resolution, and periodic
statements added new requirements regarding the posting of account
agreements. Additionally, Regulations E regulates overdraft credit
features offered in connection with prepaid accounts.
Request for Comments: Comments are invited on: (a) Whether the
collection of information is necessary for the proper performance of
the functions of the Bureau, including whether the information will
have practical utility; (b) The accuracy of the Bureau's estimate of
the burden of the collection of information, including the validity of
the methods and the assumptions used; (c) Ways to enhance the quality,
utility, and clarity of the information to be collected; and (d) Ways
to minimize the burden of the collection of information on respondents,
including through the use of automated collection techniques or other
forms of information technology. Comments submitted in response to this
notice will be summarized and/or included in the request for OMB
approval. All comments will become a matter of public record.
Anthony May,
Paperwork Reduction Act Officer, Bureau of Consumer Financial
Protection.
[FR Doc. 2021-27225 Filed 12-15-21; 8:45 am]
BILLING CODE 4810-AM-P
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