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View ICR - OIRA Conclusion

OMB Control No: 3084-0088	ICR Reference No: 201504-3084-005
Status: Historical Active	Previous ICR Reference No: 201201-3084-002
Agency/Subagency: FTC	Agency Tracking No:
Title: Regulation Z (Truth In Lending)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/20/2015
	Date Received in OIRA: 06/16/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2018	36 Months From Approved	07/31/2015
Responses	2,101,751,340	0	2,084,351,624
Time Burden (Hours)	13,697,302	0	12,663,373
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion	Change Due to Adjustment in Estimate
Annual Number of Responses	2,101,751,340	2,084,351,624	5,000	17,394,716
Annual Time Burden (Hours)	13,697,302	12,663,373	1,250	1,032,679
Annual Cost Burden (Dollars)	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: FTC staff has adjusted upward the prior overall burden estimate by 1,033,929 hours (from 12,663,373 to 13,697,302). This reflects continued burden splitting regarding shared enforcement authority with the CFPB, albeit 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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