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View ICR - OIRA Conclusion

OMB Control No: 7100-0201	ICR Reference No: 201103-7100-006
Status: Historical Active	Previous ICR Reference No: 201012-7100-003
Agency/Subagency: FRS	Agency Tracking No: Reg B (R-1408)
Title: Recordkeeping and Disclosure Requirements in Connection with Regulation B (Equal Credit Opportunity)
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: 08/03/2011
	Date Received in OIRA: 08/03/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2014	36 Months From Approved	01/31/2012
Responses	71,284	0	70,177
Time Burden (Hours)	192,962	0	157,538
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute
Annual Number of Responses	71,284	70,177	1,107
Annual Time Burden (Hours)	192,962	157,538	35,424
Annual Cost Burden (Dollars)	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: On March 15, 2011, a notice of proposed rulemaking (NPRM) was published in the Federal Register (76 FR 13896) requesting public comment on proposed amendments to Regulation B. The Federal Reserve proposes to amend the model notices in Regulation B to include the disclosure of credit scores and information relating to credit scores if a credit score is used in taking adverse action. These proposed amendments reflect the new content requirements in section 615(a) of the Fair Credit Reporting Act (FCRA) that were added by section 1100F of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The comment period expired on May 16, 2011. The Federal Reserve received five comments from industry groups that specifically addressed paperwork burden. On July 15, 2011, a notice of final rulemaking was published in the Federal Register adopting the amendments largely as proposed, with mandatory compliance by August 15, 2011 (76 FR 41590).

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