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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3084-0128
ICR Reference No:
200703-3084-001
Status:
Historical Active
Previous ICR Reference No:
200403-3084-001
Agency/Subagency:
FTC
Agency Tracking No:
Title:
Free Annual File Disclosures Rule
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
05/11/2007
Retrieve Notice of Action (NOA)
Date Received in OIRA:
03/28/2007
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
05/31/2010
36 Months From Approved
05/31/2007
Responses
26,690,000
0
16,600,000
Time Burden (Hours)
311,000
0
198,960
Cost Burden (Dollars)
0
0
0
Abstract:
The Rule implements the Fair and Accurate Credit Transactions Act of 2003, Pub. L. 108-159, by requiring nationwide consumer reporting agencies and nationwide specialty consumer reporting agencies to provide annually upon request, one free file disclosure (credit report) to consumers.
Authorizing Statute(s):
PL:
Pub.L. 108 - 159 211(a) and (d)
Name of Law: Free and Accurate Credit Transactions Act of 2003
US Code:
16 USC 1681
Name of Law: Fair Credit Reporting Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
71 FR 78438
12/29/2006
30-day Notice:
Federal Register Citation:
Citation Date:
72 FR 14575
03/28/2007
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Free Annual File Disclosures Rule
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
26,690,000
16,600,000
0
0
10,090,000
0
Annual Time Burden (Hours)
311,000
198,960
0
0
112,040
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
There are no program changes posed by the final Rule. Increased estimates for burden hours and labor costs from the FTCs prior clearance request are due to a sharp increase in staffs estimated average number of annual file disclosure requests per year (previously estimated at 16.6 million, now 26.69 million) and, additionally regarding labor costs, an increase in estimated hourly wage rates.
Annual Cost to Federal Government:
$160,000
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
Uncollected
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Sandra Farrington 202 326-3224 sfarrington@ftc.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
03/28/2007
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