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View ICR - OIRA Conclusion

OMB Control No: 3084-0085	ICR Reference No: 201202-3084-001
Status: Historical Active	Previous ICR Reference No: 200903-3084-003
Agency/Subagency: FTC	Agency Tracking No:
Title: Regulation E (Electronic Fund Transfers)
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: 06/15/2012
	Date Received in OIRA: 04/27/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2015	36 Months From Approved	06/30/2012
Responses	5,801,772,135	0	6,342,488,100
Time Burden (Hours)	4,410,917	0	3,731,343
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	5,801,772,135	6,342,488,100	-651,463,540	110,747,575
Annual Time Burden (Hours)	4,410,917	3,731,343	166,620	512,954
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: Staff has adjusted upward the FTC's previous annual burden estimate by 679,574 hours. Notwithstanding the burden splitting noted above regarding shared enforcement authority with the CFPB, staff has increased its prior estimate because of an increase in entities offering EFT services to consumers, and new requirements for gift cards, overdraft services, and remittance transfers. Moreover, estimated preauthorized transfers have greatly increased from the FTC's 2009 cleared estimate.

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