Notice2023-09279
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension
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
May 2, 2023
Issuing agencies
Federal Trade Commission
Abstract
The Federal Trade Commission ("FTC" or "Commission") requests that the Office of Management and Budget ("OMB") extend for an additional three years the current Paperwork Reduction Act ("PRA") clearance for the information collection requirements of its Fair Credit Reporting Risk-Based Pricing Regulations ("Risk-Based Pricing Rule" or "Rule"), which applies to certain motor vehicle dealers, and its shared enforcement with the Consumer Financial Protection Bureau ("CFPB") of the risk-based pricing provisions (Subpart H) of the CFPB's Regulation V regarding other entities. That clearance expires on September 30, 2023.
Full Text
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<title>Federal Register, Volume 88 Issue 84 (Tuesday, May 2, 2023)</title>
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[Federal Register Volume 88, Number 84 (Tuesday, May 2, 2023)]
[Notices]
[Pages 27516-27517]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-09279]
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FEDERAL TRADE COMMISSION
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Extension
AGENCY: Federal Trade Commission.
ACTION: Notice.
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SUMMARY: The Federal Trade Commission (``FTC'' or ``Commission'')
requests that the Office of Management and Budget (``OMB'') extend for
an additional three years the current Paperwork Reduction Act (``PRA'')
clearance for the information collection requirements of its Fair
Credit Reporting Risk-Based Pricing Regulations (``Risk-Based Pricing
Rule'' or ``Rule''), which applies to certain motor vehicle dealers,
and its shared enforcement with the Consumer Financial Protection
Bureau (``CFPB'') of the risk-based pricing provisions (Subpart H) of
the CFPB's Regulation V regarding other entities. That clearance
expires on September 30, 2023.
DATES: Comments must be filed by June 1, 2023.
ADDRESSES: Interested parties may file a comment online or on paper, by
following the instructions in the Request for Comment part of the
SUPPLEMENTARY INFORMATION section below. 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.
FOR FURTHER INFORMATION CONTACT: Genevieve Bonan, Attorney, Division of
Privacy and Identity Protection, Bureau of Consumer Protection, 400 7th
Street SW, Drop 5422, Washington, DC 20024, <a href="/cdn-cgi/l/email-protection#492e2b26272827092f3d2a672e263f"><span class="__cf_email__" data-cfemail="5c3b3e33323d321c3a283f723b332a">[email protected]</span></a>, (202) 326-
3139.
SUPPLEMENTARY INFORMATION:
Title of Collection: Fair Credit Reporting Risk-Based Pricing
Regulations, 16 CFR part 640.
OMB Control Number: 3084-0145.
Type of Review: Extension without change of currently approved
collection.
Abstract: The Risk-Based Pricing Rule and the CFPB's Regulation V
require that a creditor provide a risk-based pricing notice to a
consumer when the creditor uses a consumer report to grant or extend
credit to the consumer on material terms that are materially less
favorable than the most favorable terms available to a substantial
proportion of consumers from or through that creditor.\1\ Additionally,
these provisions require disclosure of credit scores and information
relating to credit scores in risk-based pricing notices if a credit
score of the consumer is used in setting the material terms of credit.
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\1\ 16 CFR 640.3-640.4; 12 CFR 1022.72-1022.73.
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Affected Public: Private Sector: Businesses and other for-profit
entities.
Estimated Annual Burden Hours: 8,951,460.
Estimated Annual Labor Costs: $179,566,288.
Request for Comment
On February 24, 2023, the FTC sought public comment on the
information collection requirements in the Risk-Based Pricing Rule and
its shared enforcement with the CFPB of the risk-based pricing
provisions (Subpart H) of the CFPB's Regulation V. 88 FR 11,917
(February 24, 2023). No germane comments were received during the
public comment period. Pursuant to OMB regulations, 5 CFR part 1320,
that implement the PRA, 44 U.S.C. 3501 et seq., the FTC is providing
this second opportunity for public comment while
[[Page 27517]]
seeking OMB approval to renew the pre-existing clearance for the Rule.
For more details about the Rule requirements and the basis for the
calculations summarized below, see 88 FR 11,917.
Your comment--including your name and your state--will be placed on
the public record of this proceeding. Because your comment will be made
public, you are solely responsible for making sure that your comment
does not include any sensitive personal information, such as anyone's
Social Security number; date of birth; driver's license number or other
state identification number or foreign country equivalent; passport
number; financial account number; or credit or debit card number. You
are also solely responsible for ensuring that your comment does not
include any sensitive health information, such as medical records or
other individually identifiable health information. In addition, your
comment should not include any ``[t]rade secret or any commercial or
financial information which is . . . privileged or confidential''--as
provided in Section 6(f) of the FTC Act 15 U.S.C. 46(f), and FTC Rule
4.10(a)(2), 16CFR 4.10(a)(2)--including, in particular, competitively
sensitive information, such as costs, sales statistics, inventories,
formulas, patterns devices, manufacturing processes, or customer names.
Josephine Liu,
Assistant General Counsel for Legal Counsel.
[FR Doc. 2023-09279 Filed 5-1-23; 8:45 am]
BILLING CODE 6750-01-P
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