Notice2022-04953
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
March 9, 2022
Issuing agencies
Consumer Financial Protection Bureau
Abstract
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (CFPB or Bureau) requests the extension of the Office of Management and Budget's (OMB's) approval of the existing information collection titled "Electronic Fund Transfer Act (Regulation E)" approved under OMB Control Number 3170-0014.
Full Text
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<title>Federal Register, Volume 87 Issue 46 (Wednesday, March 9, 2022)</title>
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[Federal Register Volume 87, Number 46 (Wednesday, March 9, 2022)]
[Notices]
[Pages 13278-13279]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-04953]
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BUREAU OF CONSUMER FINANCIAL PROTECTION
[Docket No. CFPB-2022-0017]
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 Consumer Financial Protection Bureau (CFPB or Bureau) requests the
extension of the Office of Management and Budget's (OMB's) approval of
the existing information collection titled ``Electronic Fund Transfer
Act (Regulation E)'' approved under OMB Control Number 3170-0014.
DATES: Written comments are encouraged and must be received on or
before April 8, 2022 to be assured of consideration.
ADDRESSES: 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. 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 available at
<a href="http://www.regulations.gov">www.regulations.gov</a>. Requests for additional information
[[Page 13279]]
should be directed to Anthony May, Paperwork Reduction Act Officer, at
(202) 841-0544, or email: <a href="/cdn-cgi/l/email-protection#acefeafceef3fcfeedeccfcadcce82cbc3da"><span class="__cf_email__" data-cfemail="6e2d283e2c313e3c2f2e0d081e0c40090118">[email protected]</span></a>. If you require this
document in an alternative electronic format, please contact
<a href="/cdn-cgi/l/email-protection#22616472607d6341414751514b404b4e4b565b62414452400c454d54"><span class="__cf_email__" data-cfemail="d1929781938e90b2b2b4a2a2b8b3b8bdb8a5a891b2b7a1b3ffb6bea7">[email protected]</span></a>. Please do not submit comments to these
email boxes.
SUPPLEMENTARY INFORMATION:
Title of Collection: Electronic Fund Transfer Act (Regulation E).
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: 3,361,056.
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: The Bureau published a 60-day Federal
Register notice on 12/16/2021 (86 FR 71453) under Docket Number: CFPB-
2021-0021. The Bureau is soliciting comments 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 submitted to OMB as part of its review of this request.
All comments will become a matter of public record.
Anthony May,
Paperwork Reduction Act Officer, Consumer Financial Protection Bureau.
[FR Doc. 2022-04953 Filed 3-8-22; 8:45 am]
BILLING CODE 4810-AM-P
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