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View ICR - OIRA Conclusion

OMB Control No: 3084-0088	ICR Reference No: 201201-3084-002
Status: Historical Active	Previous ICR Reference No: 200903-3084-005
Agency/Subagency: FTC	Agency Tracking No:
Title: Regulation Z (Truth In Lending)
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	2,084,351,624	0	3,939,015,000
Time Burden (Hours)	12,663,373	0	12,415,418
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	2,084,351,624	3,939,015,000	-1,822,466,961	-32,196,415
Annual Time Burden (Hours)	12,663,373	12,415,418	-191,401	439,356
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: The net change is an increase of 247,955 hours relative to the previously cleared burden hour estimate (from 12,415,418 to 12,663,373). This reflects the burden splitting noted above regarding shared enforcement authority with the CFPB, but that is offset by countervailing increases due to the breadth of amendments to Regulation Z and their impact on recordkeeping and disclosure through expanded coverage and more complex transactions.

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