View Information Collection Request (ICR) Package
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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:
3064-0084
ICR Reference No:
201108-3064-003
Status:
Historical Active
Previous ICR Reference No:
200808-3064-001
Agency/Subagency:
FDIC
Agency Tracking No:
Title:
Account Based Disclosures in Connection with Federal Reserve Regulations E, CC and DD
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:
12/27/2011
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/08/2011
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2014
36 Months From Approved
12/31/2011
Responses
51,506,450
0
24,043,412
Time Burden (Hours)
3,461,844
0
902,687
Cost Burden (Dollars)
0
0
0
Abstract:
Regulations E, CC & DD (issued by the FRB) ensure adequate disclosures regarding accounts, including electronic fund transfer services, availability of funds, and fees and annual percentage yield for deposit accounts.
Authorizing Statute(s):
US Code:
15 USC 1693 et seq.
Name of Law: Electronic Fund Transfer Act
US Code:
12 USC 4001 et seq.
Name of Law: Expedited Funds Availability Act
US Code:
12 USC 4301 et seq.
Name of Law: Truth in Savings 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:
76 FR 52326
08/22/2011
30-day Notice:
Federal Register Citation:
Citation Date:
76 FR 69269
11/08/2011
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
29
IC Title
Form No.
Form Name
Regulation CC - Annual notice of new ATMs (section 229.18(e))
Regulation CC - Bank's claim against indemnifying bank (section 229.55)
Regulation CC - Consumer awareness disclosure (section 229.57)
Regulation CC - Expedited recredit claim notice
Regulation CC - Notice of change in policy - section 229.18(e)
Regulation CC - Notice of exceptions to hold policy - Section 229.13(g)
Regulation CC - Notice of nonpayment (section 229.33(a) and (d))
Regulation CC - Notice posted where consumers make deposits - sections 229.18(b) and 229.18(c)
Regulation CC - Response to consumer's recredit claim (section 229.54(e))
Regulation CC - Specific availability policy disclosure - sections 229.16, 229.17 and 229.18(d)
Regulation DD - Account disclosures (section 230.4)
Regulation DD - Advertising (section 230.8)
Regulation DD - Periodic Statement Disclosures (section 230.6)
Regulation DD - Subsequent notices (Section 230.5) - Prematurity notices
Regulation DD - Subsequent notices (section 230.5) - change in terms
Regulation E - ATM disclosures (section 205.16c) - one-time reprogramming burden
Regulation E - Error resolution (sections 205.8(b) and 205.11)
Regulation E - Gift card disclosures (one-time systems change)
Regulation E - Gift card exclusion policies/procedures one-time
Regulation E - Gift card exclusion policies/procedures ongoing
Regulation E - Gift card policy/procedures one-time
Regulation E - Gift card policy/procedures ongoing
Regulation E - Initial disclosures (sections 205.7 and 205.8) - change in terms
Regulation E - Initial disclosures (sections 205.7 and 205.8) - initial terms
Regulation E - Overdraft opt-in disclosures (consumer response)
Regulation E - Payroll card disclosures (section 205.18) - Initial
Regulation E - Payroll card disclosures (section 205.18) - error resolution
Regulation E - Payroll card disclosures (section 205.18) - periodic
Regulation E - Revise/update initial disclosures for new customers
Regulation E - Transaction disclosures (section 205.9) - one-time reprogramming burden
Regulation E -- Prepare/send new opt-in notices to existing customers
Regulations CC - Case-by-case hold notice - sections 229.16(c)
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
51,506,450
24,043,412
0
30,053,038
-2,590,000
0
Annual Time Burden (Hours)
3,461,844
902,687
0
2,663,699
-104,542
0
Annual Cost Burden (Dollars)
0
0
0
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:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
The increase in burden from 902,687 hours to 3,461,844 hours is the result of adjustment of -104,542 hours (-3056 hours for Regulation E, -56,962 hours for Regulation CC, and -44,524 hours for Regulation DD) due to a decrease in the number of respondents and a program change of +2,663,699 hours (+67,488 hours for Regulation DD and +2,596,211 hours for Regulation E(+2,638,967 for new disclosures, -420 to correct a previous error, and -42,336 to remove a one-time burden for systems changes in 2008) to reflect revisions to Regulation DD and Regulation E.
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]?
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:
Leneta Gregorie 202 898-3719 lgregorie@fdic.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:
11/08/2011
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