View Information Collection Request (ICR) Package

OMB Control No: 3084-0121	ICR Reference No: 200005-3084-001
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: FTC	Agency Tracking No:
Title: Privacy of Consumer Financial Information (Gramm-Leach-Bliley Act Privacy Rule)
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/11/2000
	Date Received in OIRA: 05/10/2000
Terms of Clearance: Approved through June 30, 2002. We understand that the Commission will implement these rules with an extended compliance deadline of July 1, 2001. OMB's approval for a one-year period beyond that date should give the Commission adequate time to further assess the impact, particularly on small entities, of the rule. We believe that the initial data and estimates that were presented with the proposed rule were good faith estimates of the potential impacts and that there has been little additional information presented in the record that would provide a basis for presently revising the estimates. However, as additional data becomes available, we encourage the Commission to revise the estimates and to take whatever additional steps may be required to balance the benefits to consumer privacy against the burdens of the program.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2002	06/30/2002
Responses	210,000	0	0
Time Burden (Hours)	4,033,000	0	0
Cost Burden (Dollars)	0	0	0

Abstract: The Proposed Rule would implement Title V of the Gramm-Leach- Bliley Act. Title V limits the instances in which a financial insitution may disclose a consumer's nonpublic personal information to a non-affiliated party. The proposed requirements will ensure that customers and consumers, subject to certain exceptions will have access to the privacy policies of the financial institutions with which they conduct business.

Authorizing Statute(s): None

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:

Federal Register Notices & Comments
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
Privacy of Consumer Financial Information (Gramm-Leach-Bliley Act Privacy Rule)

ICR Summary of Burden

	Total Approved	Change Due to Agency Discretion
Annual Number of Responses	210,000	210,000
Annual Time Burden (Hours)	4,033,000	4,033,000
Annual Cost Burden (Dollars)	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement:

Annual Cost to Federal Government: $0

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

View ICR - OIRA Conclusion