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OMB Control No: 7100-0308	ICR Reference No: 202604-7100-003
Status: Active	Previous ICR Reference No: 202510-7100-008
Agency/Subagency: FRS	Agency Tracking No: FR V
Title: Recordkeeping and Disclosure Requirements Associated with the CFPB's and the Board's Regulations V
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR: No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/23/2026
	Date Received in OIRA: 04/23/2026
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2029	36 Months From Approved	04/30/2026
Responses	897,266	0	897,266
Time Burden (Hours)	403,418	0	403,418
Cost Burden (Dollars)	0	0	0

Abstract: The Consumer Financial Protection Bureau’s (CFPB) Regulation V and the Board’s Regulation V (collectively FR V Regulations) implement in part the Fair Credit Reporting Act (FCRA), which was enacted in 1970 based on a Congressional finding that the banking system is dependent on fair and accurate credit reporting. The FCRA was enacted to ensure consumer reporting agencies exercise their responsibilities with fairness, impartiality, and a respect for the consumer’s right to privacy. The FCRA requires consumer reporting agencies to adopt reasonable procedures that are fair and equitable to the consumer with regard to the confidentiality, accuracy, relevancy, and proper utilization of consumer information. The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), enacted in 2010, transferred to the CFPB most, but not all, of the rulemaking authority for issuing regulations under the FCRA. The Board and other federal agencies retained rulemaking responsibility for the FCRA provisions regarding identity theft prevention programs and the duties of card issuers to validate consumers’ changes of address (hereinafter, identity theft red flags), as well as the disposal of consumer information, with respect to the entities that are subject to each agency’s respective enforcement authority. The Paperwork Reduction Act (PRA) classifies reporting, recordkeeping, or disclosure requirements of a regulation as an information collection. The Board continues to be responsible for renewing every three years the information collection requirements contained in the CFPB’s Regulation V for institutions with $10 billion or less in assets that are identified in 15 U.S.C. § 1681s(b)(1)(A)(ii) and for consumers of these institutions, as well as for the identity theft red flags provisions in the Board’s Regulation V for institutions of any size that are identified in 15 U.S.C. § 1681s(b)(1)(A)(ii).

Authorizing Statute(s): US Code: 12 USC 5515 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 15 USC 1681s(b) Name of Law: Fair Credit Reporting Act
   US Code: 15 USC 1681m(e) Name of Law: Fair Credit Reporting Act
   US Code: 15 USC 1681s(e) Name of Law: Fair Credit Reporting Act

Citations for New Statutory Requirements: None

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:
	90 FR 36055	07/31/2025
30-day Notice:	Federal Register Citation:	Citation Date:
	90 FR 56760	12/08/2025
Did the Agency receive public comments on this ICR? No

ICR Summary of Burden

	Total Approved	Previously Approved
Annual Number of Responses	897,266	897,266
Annual Time Burden (Hours)	403,418	403,418
Annual Cost Burden (Dollars)	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:

Annual Cost to Federal Government: $0

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: Kareemat Ayodeji 757 921-4888 kareemat.ayodeji@frb.gov

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