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OMB Control No: 3084-0121	ICR Reference No: 202006-3084-003
Status: Historical Active	Previous ICR Reference No: 201710-3084-003
Agency/Subagency: FTC	Agency Tracking No:
Title: Privacy of Consumer Financial Information (Gramm-Leach-Bliley Act Privacy Rule)
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: 01/26/2021
	Date Received in OIRA: 11/05/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2024	36 Months From Approved	01/31/2021
Responses	128,225	0	163,300
Time Burden (Hours)	1,345,350	0	1,725,300
Cost Burden (Dollars)	0	0	0

Abstract: The Federal Trade Commission ("FTC") seeks renewed clearance for the the information collection requirements in its Privacy of Consumer Financial Information ("GLB Privacy Rule"). The GLB Privacy Rule is designed to ensure that customers and consumers, subject to certain exceptions, will have access to the privacy policies of the financial institutions with which they conduct business. As mandated by the Gramm-Leach-Bliley Act, 15 U.S.C. 6801-6809, the Rule implements consumer disclosure requirements that are subject to the provisions of the PRA. The Rule requires financial institutions to disclose to consumers: (1) initial notice of the financial institution's privacy policy when establishing a customer relationship with a consumer and/or before sharing a consumer's non-public personal information with certain nonaffiliated third parties; (2) notice of the consumer's right to opt out of information sharing with such parties; (3) annual notice of the institution's privacy policy to any continuing customer; and (4) notice of changes in the institution's practices on information sharing. The Rule does not require recordkeeping. For PRA burden calculations the FTC has attributed to itself the burden for all motor vehicle dealers and then shares equally the remaining PRA burden with the Consumer Financial Protection Bureau (CFPB) for other types of financial institutions for which both agencies have enforcement authority regarding the GLB Privacy Rule.

Authorizing Statute(s): US Code: 15 USC 6801 et seq. Name of Law: Gramm-Leach-Bliley Act
PL: Pub.L. 111 - 203 1024, 1029, 1061 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 1024, 1029, 1061 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

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:
	85 FR 23961	04/30/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 70621	11/05/2020
Did the Agency receive public comments on this ICR? No

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	128,225	163,300	-35,075
Annual Time Burden (Hours)	1,345,350	1,725,300	-379,950
Annual Cost Burden (Dollars)	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: There are no program changes. The differences in burden estimates from the prior clearance reflect updates in the estimated number of financial institutions and motor vehicle dealers subject to the Rule. As part of this renewal, the FTC has revised its Information Collection List to better reflect the organization and information burden of the Rule. As explained in Section 12, the FTC estimates burden under the Rule separately for (a) motor vehicle dealers that are solely subject to FTC authority and (b) non-motor vehicle dealer financial institutions for which the FTC and CFPB share enforcement authority. To reflect this estimation method, the FTC has revised the Information Collection List to list separate burden estimates for these categories of entities.

Annual Cost to Federal Government: $380,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. 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]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

Agency Contact: David Lincicum 202 326-2773 dlincicum@ftc.gov

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