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View ICR - OIRA Conclusion

OMB Control No: 3084-0137	ICR Reference No: 202201-3084-002
Status: Historical Active	Previous ICR Reference No: 201810-3084-001
Agency/Subagency: FTC	Agency Tracking No:
Title: The Red Flags Regulations (Under the Fair and Accurate Credit Transactions Act)
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: 03/07/2022
	Date Received in OIRA: 01/27/2022
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2025	36 Months From Approved	03/31/2022
Responses	227,485	0	295,327
Time Burden (Hours)	397,298	0	1,385,290
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	227,485	295,327	-67,842
Annual Time Burden (Hours)	397,298	1,385,290	-987,992
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: The estimates for 2018-2019 greatly overstated the number of businesses that would be required to comply with the Address Discrepancy Rule. The Rule covers only users of consumer reports that are motor vehicle dealers described in section 1029(a) of the Dodd-Frank Act and that are predominantly engaged in the sale and servicing of motor vehicles, the leasing and servicing of them, or both. Thus, the annual burden hours and labor costs were significantly adjusted downward for 2021-2022.

Annual Cost to Federal Government: $65,516

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]? No

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: Whitney Moore 202 326-2645 wmoore@ftc.gov

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