Federal Register: November 18, 2009 (Volume 74, Number 221)
DOCID: fr18no09-109 FR Doc E9-27672
DEPARTMENT OF THE TREASURY
Thrift Supervision Office
DOCUMENT ACTION: Notice and request for comment.
Privacy of Consumer Financial Information
DATES: Submit written comments on or before December 18, 2009. A copy of this ICR, with applicable supporting documentation, can be obtained from RegInfo.gov at: http://www.reginfo.gov/public/do/PRAMain.
The proposed information collection request (ICR) described below has been submitted to the Office of Management and Budget (OMB) for review and approval, as required by the Paperwork Reduction Act of 1995. OTS is soliciting public comments on the proposal.
Agency Information Collection Activities; Proposals, Submissions, and Approvals
OTS may not conduct or sponsor an information collection, and respondents are not required to respond to an information collection, unless the information collection displays a currently valid OMB control number. As part of the approval process, we invite comments on the following information collection.
Title of Proposal: Privacy of Consumer Financial Information.
OMB Number: 15500103.
Form Number: N/A.
Regulation requirement: 12 CFR part 573.
Description: These information collections are required under section 504 of the GrammLeachBliley Act (Act), Public Law 106102. Section 502 of the Act prohibits a financial institution from disclosing nonpublic personal information about a consumer to nonaffiliated third parties unless the institution satisfies various disclosure requirements (i.e., provides a privacy notice and opt out notice) and the consumer has not elected to opt out of the disclosure. Section 504 requires the Office of Thrift Supervision, as well as the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Federal Trade Commission, and Securities and Exchange Commission to issue regulations as necessary to implement the notice requirements and restrictions.
Consumers use the privacy notice information to determine whether they want personal information disclosed to third parties that are not affiliated with the institution. Further, consumers use the optout notice mechanism to advise the institution of their wishes regarding disclosure of their personal information. Institutions use the optout information to determine the wishes of their consumers and to act appropriately.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other forprofit.
Estimated Number of Respondents: 68,378.
Estimated Burden Hours per Response: 80 hours for de novos and acquisitions: 8 hours for institutions; and .5 hours for customers.
Estimated Frequency of Response: On occasion.
Estimated Total Burden: 44,543 hours.
Clearance Officer: Ira L. Mills, (202) 9066531, Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.
Dated: November 12, 2009.
Ira L. Mills,
Paperwork Clearance Officer, Office of Thrift Supervision.
[FR Doc. E927672 Filed 111709; 8:45 am]
BILLING CODE 672001P
FOR FURTHER INFORMATION CONTACT
For further information or to obtain a
copy of the submission to OMB, please contact Ira L. Mills at,
firstname.lastname@example.org (202) 9066531, or facsimile number (202) 906
6518, Regulations and Legislation Division, Chief Counsel's Office, Office of Thrift
Supervision, 1700 G Street, NW., Washington, DC 20552.