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View ICR - OIRA Conclusion

OMB Control No: 7100-0200	ICR Reference No: 201909-7100-008
Status: Historical Active	Previous ICR Reference No: 201808-7100-010
Agency/Subagency: FRS	Agency Tracking No: FR E
Title: Recordkeeping and Disclosure Requirements Associated with the Bureau’s Regulation E
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/04/2019
Retrieve Notice of Action (NOA)	Date Received in OIRA: 11/04/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2022	36 Months From Approved	01/31/2020
Responses	629,640	0	629,412
Time Burden (Hours)	214,569	0	210,925
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	629,640	629,412	228
Annual Time Burden (Hours)	214,569	210,925	3,644
Annual Cost Burden (Dollars)	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The estimated total annual burden for the FR E is 210,925 hours, and would increase to 214,569 hours with the adopted revisions. The revisions result in a net increase in burden of 3,644 hours. There is no reporting requirement associated with Regulation E. Moreover, no burden for receipts or disclosures related to preauthorized transfers is shown below because that burden is believed to be negligible. Receipts provided at electronic terminals are handled entirely by machine. For preauthorized transfers to a consumer’s account, banks ordinarily provide a readily available telephone number that the consumer can call to verify receipt of the deposit. Finally, for preauthorized transfers from a consumer’s account, the payee, rather than the bank, ordinarily discloses amounts to be transferred to the consumer.

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: Jennifer Williams 202 452-2446 jennifer.l.williams@frb.gov