Notice2022-21523
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
October 4, 2022
Issuing agencies
Consumer Financial Protection Bureau
Abstract
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau or CFPB) is requesting to extend the Office of Management and Budget's (OMB's) approval for an existing information collection titled "Truth in Savings (Regulation DD)" approved under OMB Control Number 3170-0004.
Full Text
<html>
<head>
<title>Federal Register, Volume 87 Issue 191 (Tuesday, October 4, 2022)</title>
</head>
<body><pre>
[Federal Register Volume 87, Number 191 (Tuesday, October 4, 2022)]
[Notices]
[Page 60136]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-21523]
=======================================================================
-----------------------------------------------------------------------
BUREAU OF CONSUMER FINANCIAL PROTECTION
[Docket No. CFPB-2022-0065]
Agency Information Collection Activities: Comment Request
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA),
the Consumer Financial Protection Bureau (Bureau or CFPB) is requesting
to extend the Office of Management and Budget's (OMB's) approval for an
existing information collection titled ``Truth in Savings (Regulation
DD)'' approved under OMB Control Number 3170-0004.
DATES: Written comments are encouraged and must be received on or
before December 5, 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="https://www.regulations.gov">https://www.regulations.gov</a>.
Follow the instructions for submitting comments
<bullet> Email: <a href="/cdn-cgi/l/email-protection#a7f7f5e6f8e4c8cacac2c9d3d4e7c4c1d7c589c0c8d1"><span class="__cf_email__" data-cfemail="18484a59475b7775757d766c6b587b7e687a367f776e">[email protected]</span></a>. Include Docket No. CFPB-
2022-0065 in the subject line of the email.
<bullet> Mail/Hand Delivery/Courier: Comment Intake, Consumer
Financial Protection Bureau (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 available at
<a href="http://www.regulations.gov">www.regulations.gov</a>. Requests for additional information should be
directed to Anthony May, PRA Officer, at (202) 841-0544, or email:
<a href="/cdn-cgi/l/email-protection#75363325372a25273435161305175b121a03"><span class="__cf_email__" data-cfemail="9cdfdaccdec3cccedddcfffaecfeb2fbf3ea">[email protected]</span></a>. If you require this document in an alternative
electronic format, please contact <a href="/cdn-cgi/l/email-protection#480b0e180a17092b2b2d3b3b212a2124213c31082b2e382a662f273e"><span class="__cf_email__" data-cfemail="f3b0b5a3b1acb290909680809a919a9f9a878ab390958391dd949c85">[email protected]</span></a>. Please
do not submit comments to these email boxes.
SUPPLEMENTARY INFORMATION:
Title of Collection: Truth in Savings (Regulation DD).
OMB Control Number: 3170-0004.
Type of Review: Extension of a currently approved information
collection.
Affected Public: Private sector: businesses or other for-profits.
Estimated Number of Respondents: 146.
Estimated Total Annual Burden Hours: 19,000.
Abstract: The Truth in Savings Act (TISA), 12 U.S.C. 4301 et seq.
was enacted to enhance economic stability, improve competition between
depository institutions, and strengthen consumer ability to make
informed decisions regarding deposit accounts by requiring uniformity
in the disclosure of interest rates and fees. TISA assists consumers in
comparing deposit accounts offered by depository institutions,
principally through the disclosure of fees, the annual percentage
yield, the interest rate, and other account terms. TISA and Regulation
DD require depository institutions to disclose yields, fees, and other
terms concerning deposit accounts to consumers at account opening, upon
request, and when changes in terms occur. Depository institutions that
provide periodic statements are required to include information about
fees imposed, interest earned, and the annual percentage yield earned
during those statement periods. TISA and Regulation DD mandate the
methods by which institutions determine the account balance on which
interest is calculated. They also contain rules about advertising
deposit accounts and overdraft services. Regulation DD requires
depository institutions subject to TISA to retain evidence of
compliance with the regulation. These recordkeeping requirements ensure
that records that might contain evidence of violations of TISA remain
available to Federal enforcement agencies, as well as to private
litigants.
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's
approval. All comments will become a matter of public record.
Anthony May,
Paperwork Reduction Act Officer, Consumer Financial Protection Bureau.
[FR Doc. 2022-21523 Filed 10-3-22; 8:45 am]
BILLING CODE 4810-AM-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 October 4, 2022.
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.