[Federal Register Volume 85, Number 123 (Thursday, June 25, 2020)]
[Notices]
[Pages 38138-38139]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-13703]
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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
[[Page 38139]]
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 July 31, 2020.
DATES: Comments must be filed by July 27, 2020.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular
information collection by selecting ``Currently under Review--Open for
Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Monique Einhorn, Attorney, Division of
Privacy and Identity Protection, Bureau of Consumer Protection, (202)
326-2575, 600 Pennsylvania Ave. NW, Room CC-8232, Washington, DC 20580.
SUPPLEMENTARY INFORMATION: Pursuant to the Paperwork Reduction Act of
1995 (44 U.S.C. 3501 et seq.), the FTC has submitted to the Office of
Management and Budget (``OMB'') this request for extension of the
previously approved collection of information discussed below.
Title: Fair Credit Reporting Risk-Based Pricing Regulations, 16 CFR
part 640.
OMB Control Number: 3084-0145.
Type of Review: Extension of currently approved collection.
Affected Public: Private Sector: Businesses and other for-profit
entities.
Estimated Annual Burden Hours: 7,950,000.
Estimated Annual Labor Costs: $149,062,500.
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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Request for Comment
On February 20, 2020, the Commission sought comment on the
information collection requirements associated with 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. 85 FR 9775
(Feb. 20, 2020). No relevant comments were received. Pursuant to the
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 seeking OMB approval to renew the pre-existing clearance
for those information collection requirements.
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, like 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 making sure that your comment does not
include any sensitive health information, like medical records or other
individually identifiable health information. In addition, do 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 Sec. 4.10(a)(2), 16 CFR
4.10(a)(2). In particular, do not include 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. 2020-13703 Filed 6-24-20; 8:45 am]
BILLING CODE 6750-01-P