[Federal Register Volume 84, Number 202 (Friday, October 18, 2019)]
[Notices]
[Pages 55944-55945]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-22771]
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BUREAU OF CONSUMER FINANCIAL PROTECTION
[Docket No. CFPB-2019-0053]
Agency Information Collection Activities: Submission for OMB
Review; 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 proposing to
reinstate with change a previously approved collection, or a new or
revised generic clearance titled, ``Generic Information Collection Plan
for Information on Compliance Costs and Other Effects of Regulations.''
Also, in accordance with the PRA, the Bureau is requesting Office of
Management and Budget (OMB) approval of the Generic Information
Collection titled, ``Industry Survey for the TRID Assessment'' under
this Generic Information Collection Plan.
DATES: Written comments are encouraged and must be received on or
before November 18, 2019 to be assured of consideration.
ADDRESSES: Comments in response to this notice are to be directed
towards OMB and to the attention of the OMB Desk Officer for the Bureau
of Consumer Financial Protection. 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:
Electronic: http://www.regulations.gov. Follow the
instructions for submitting comments.
Email: [email protected].
Fax: (202) 395-5806.
Mail: Office of Management and Budget, New Executive
Office Building, Room 10235, Washington, DC 20503.
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 www.reginfo.gov
(this link becomes active on the day following publication of this
notice). Select ``Information Collection Review,'' under ``Currently
under Review,'' use the dropdown menu ``Select Agency'' and select
``Consumer Financial Protection Bureau'' (recent submissions to OMB
will be at the top of the list). The same documentation is also
available at http://www.regulations.gov. Requests for additional
information should be directed to Darrin King, PRA Officer, at (202)
435-9575, or email: [email protected]. If you require this document in
an alternative electronic format, please contact
[email protected]. Please do not submit comments to these
email boxes.
SUPPLEMENTARY INFORMATION:
Title of Collection: Generic Information Collection Plan for
Information on Compliance Costs and Other Effects of Regulations.
OMB Control Number: 3170-0032.
[[Page 55945]]
Type of Review: Reinstatement with change of a previously Approved
Information Collection.
Affected Public: Businesses and other for-profit entities.
Estimated Number of Respondents: 37,500.
Estimated Total Annual Burden Hours: 38,997.
Abstract: The Dodd-Frank Wall Street Reform and Consumer Protection
Act requires or authorizes the Bureau to implement new consumer
protections in the offering or provision of certain consumer financial
products and services. The information collected is required in order
to effectively incorporate information from providers concerning
compliance costs and other effects of regulations as part of the
information base for potential rulemakings and prospective and
retrospective regulatory burden analyses.
Information Collection
Title of Collection: Industry Survey for the TRID Assessment.
OMB Control Number: 3170-0032.
Type of Review: Request for approval of a generic information
collection.
Affected Public: Businesses and other for-profit entities.
Estimated Number of Respondents: 11,906.
Estimated Total Burden Hours: 9,230.
Abstract: The Dodd-Frank Act requires that the Bureau assess its
significant rules within 5 years of a rule's effective date. The Bureau
has determined that its November 2013 final rule titled ``Integrated
Mortgage Disclosures Under the Real Estate Settlement Procedures Act
(Regulation X) and the Truth In Lending Act (Regulation Z)'' (TRID
Rule), with subsequent amendments, is a significant rule. The Act
requires that the Bureau's assessment reflect available evidence and
data that the Bureau may reasonably collect. This information
collection will allow the Bureau to reach out to a cross-section of
stakeholders and gather information from them about their experiences
with the Rule.
This survey is one part of an overall effort to fulfill the
Bureau's obligation to address, among other relevant factors, the
effectiveness of the TRID Rule in meeting the purposes and objectives
of title X of Dodd-Frank and the specific goals of the Rule as stated
by the Bureau. As part of its broader information collection related to
the assessment, the Bureau has obtained, or is working to obtain, data
from a number of other sources.
Request for Comments: The Bureau issued a 60-day Federal Register
notice on June 5, 2019, 84 FR 26078, Docket Number: CFPB-2019-0031.
Comments were solicited and continue to be 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 may address the overall
information collection request plan or the individual collection.
Comments submitted in response to this notice will be reviewed by OMB
as part of its review of this request. All comments will become a
matter of public record.
Dated: October 15, 2019.
Darrin A. King,
Paperwork Reduction Act Officer, Bureau of Consumer Financial
Protection.
[FR Doc. 2019-22771 Filed 10-17-19; 8:45 am]
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