FTC Announces Publication of Second Federal Register Notice and Comment Period on Survey of Information Sharing Practices with Affiliates

Section 214(e) of the Fair and Accurate Credit Transaction Act requires the Federal Trade Commission, the federal banking agencies, and the National Credit Union Administration to “jointly conduct regular studies of the consumer information sharing practices by financial institutions and other persons that are creditors or users of consumer reports with their affiliates.” The Federal Register notice, which will be published today and is required by the Paperwork Reduction Act, will enable the FTC staff and the staff of the other agencies to conduct the survey.

As detailed in the notice, the agencies are seeking public comments on, among other things, 1) whether the information collection is necessary for the proper performance of the agencies’ functions, including whether the information has practical utility, 2) the accuracy of the agencies’ estimates of the burden of the information-collection process, 3) ways to enhance the quality, utility, and clarity of the information to be collected, and 4) ways to minimize the burden of information collection, including the use of automated collection techniques and methods. This is the second of two comment periods on the proposed collection, which was approved by the Commission in August 2006. Comments received in the first comment period were carefully considered and the survey was modified. The agencies are accepting public comments for 30 days. The notice contains contact information for all agencies participating in the information-collection process.

Copies can be found now on the FTC’s Web site. (FTC File No. P064802; the staff contact is Sandra F. McCarthy, Bureau of Consumer Protection, 202-326-2252).

The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, click http://www.ftc.gov/ftc/complaint.shtm or call 1-877-382-4357. The FTC enters Internet, telemarketing, identity theft, and other fraud-related complaints into Consumer Sentinel, a secure, online database available to more than 1,600 civil and criminal law enforcement agencies in the U.S. and abroad. For free information on a variety of consumer topics, click http://ftc.gov/bcp/consumer.shtm.

IR Press

Share
Published by
IR Press

Recent Posts

Treasury Issues Final Rule Expanding CFIUS Coverage of Real Estate Transactions Around More Than 60 Military Installations

WASHINGTON – Today, the U.S. Department of the Treasury (Treasury), as Chair of the Committee…

5 days ago

U.S. Department of the Treasury’s CDFI Fund and Federal Housing Finance Agency Collaborate to Bolster CDFI Access to Capital

WASHINGTON—Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) and…

5 days ago

Report on U.S. Portfolio Holdings of Foreign Securities at Year-End 2023

Washington – The findings from the annual survey of U.S. portfolio holdings of foreign securities…

6 days ago

READOUT: U.S. Department of the Treasury Hosts Roundtable Discussion on the Financial Sector’s Response to Recent Hurricanes

WASHINGTON – The U.S. Department of the Treasury hosted a roundtable on October 30 with…

6 days ago

READOUT: Sixth Meeting of the Financial Working Group Between the United States and the People’s Republic of China

WASHINGTON – The United States and the People’s Republic of China held the sixth meeting…

6 days ago

Treasury Sanctions Key Members of La Linea, a Group Involved in Trafficking Fentanyl into the United States

WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned…

6 days ago