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View ICR - OIRA Conclusion

OMB Control No: 3084-0086	ICR Reference No: 201112-3084-017
Status: Historical Active	Previous ICR Reference No: 200903-3084-004
Agency/Subagency: FTC	Agency Tracking No:
Title: Regulation M (Consumer Leasing)
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: 06/25/2012
	Date Received in OIRA: 04/27/2012
Terms of Clearance: The Federal Trade Commission (FTC) has carefully considered comments received regarding the burden estimates for information collection requirements in consumer financial regulations B, M, and Z. Although no adjustments were made at this time, FTC should continue to assess the burden on respondents associated with enforcing these requirements.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2015	36 Months From Approved	06/30/2012
Responses	2,883,809	0	3,810,000
Time Burden (Hours)	122,845	0	224,375
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Adjustment in Estimate
Annual Number of Responses	2,883,809	3,810,000	-788,691	-137,500
Annual Time Burden (Hours)	122,845	224,375	-101,599	69
Annual Cost Burden (Dollars)	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: As a result of the Dodd-Frank Act, the FTC and the Consumer Financial Protection Bureau now share the authority to enforce this regulation for entities for which the FTC had enforcement authority preceding the Act, except for certain motor vehicle dealers. Because of this shared enforcement authority, the two agencies have divided the FTC's previously-cleared PRA burden between them, except that the FTC retained all of the part of that burden associated with certain motor vehicle dealers. The instant estimates also reflect declined market conditions. Conversely, but also factored into these estimates, the Dodd-Frank Act amended the Consumer Leasing Act so that leases up to $50,000 (rather than just $25,000) are now covered, subject further to annual adjustment. The net result is a decrease of 101,530 hours from the previously cleared burde estimate.

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