Daily Rules, Proposed Rules, and Notices of the Federal Government
On July 10, 2012, the Commission sought comment on the information collection requirements and staff's PRA burden estimates associated with the Rules (“July 10 Notice”). 77 FR 40614. No comments were received. Nonetheless, after further review of Census Bureau data, FTC staff has refined the estimated number of respondents subject to the Address Discrepancy Rule, which in turn, affects estimated hours burden in the aggregate. These revisions are detailed below.
A. Section 114: Red Flags and Card Issuers Rules:
(1) Red Flags:
(a) Estimated Number of Respondents: 167,639.
(i) High risk: 105,774.
(ii) Low risk: 61,865.
(b) Estimated Hours Burden:
(i) High-Risk Entities: 1,375,062 hours.
(ii) Low-Risk Entities: 38,150 hours.
(2) Card Issuers Rule:
(a) Estimated Number of Respondents: 17,978.
(b) Estimated Hours Burden: 71,912 hours.
(3) Combined Labor Cost Burden: $62,375,208.
B. Section 315—Address Discrepancy Rule:
(1) Estimated Number of Respondents: 1,757,385.
(2) Estimated Hours Burden: 821,780.
(3) Estimated Labor Cost Burden: $13,970,260.
C. Capital/Non-Labor Costs for Sections 114 and 315.
FTC staff believes that the Rules impose negligible capital or other non-labor costs, as the affected entities are likely to have the necessary supplies and/or equipment already (
The July 10 Notice stated that the number of entities likely covered by the Address Discrepancy Rule totaled 2,449,605 users of consumer reports. That tabulation, however, contained certain double-counting. Also, part of the revised estimate is based on newer Census data
Using the revised inputs, staff estimates that Section 315 affects approximately 1,757,385 users of consumer reports subject to the FTC's jurisdiction. In addition, staff estimates that approximately 10,000 of these users will receive notice of a discrepancy, in the course of their usual and customary business practices, and thereby have to furnish to credit reporting agencies an address confirmation.
As detailed in the July 10 Notice, estimated average annual burden per entity to develop and follow policies and procedures for a notice of discrepancy is 28 minutes.
As further detailed in the July 10 Notice, the FTC estimates an hourly rate of $17 for administrative staff to comply with the policies and procedures for the Address Discrepancy Rule.
Pursuant to the OMB regulations, 5 CFR Part 1320, that implement the PRA, 44 U.S.C. 3501
You can file a comment online or on paper. For the FTC to consider your comment, we must receive it on or before October 25, 2012. Write “Red Flags Rule, PRA2, Project No. P095406” on your comment. Your comment—including your name and your state—will be placed on the public record of this proceeding, including, to the extent practicable, on the public Commission Web site, at
Because your comment will be made public, you are solely responsible for making sure that your comment does not include any sensitive personal information, like anyone's Social Security number, date of birth, driver's license number or other state identification number or foreign country equivalent, passport number, financial account number, or credit or debit card number. You are also solely responsible for making sure that your comment does not include any sensitive health information, like medical records or other individually identifiable health information. In addition, do not include any “[t]rade secret or any commercial or financial information which is obtained from any person and which is privileged or confidential * * *, ” as provided in Section 6(f) of the FTC Act, 15 U.S.C. 46(f), and FTC Rule 4.10(a)(2), 16 CFR 4.10(a)(2). If you want the Commission to give your comment confidential treatment, you must file it in paper form, with a request for confidential treatment, and you have to follow the procedure explained in FTC Rule 4.9(c), 16 CFR 4.9(c).
Postal mail addressed to the Commission is subject to delay due to heightened security screening. As a result, we encourage you to submit your comments online, or to send them to the Commission by courier or overnight service. To make sure that the Commission considers your online comment, you must file it at
If you file your comment on paper, write “Red Flags Rule, PRA2, Project No. P095406” on your comment and on the envelope, and mail or deliver it to the following address: Federal Trade Commission, Office of the Secretary, Room H-113 (Annex J), 600 Pennsylvania Avenue NW., Washington, DC 20580. If possible, submit your paper comment to the Commission by courier or overnight service.
Visit the Commission Web site at
Comments on the information collection requirements subject to review under the PRA should additionally be submitted to OMB. If sent by U.S. mail, they should be addressed to Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for the Federal Trade Commission, New Executive Office Building, Docket Library, Room 10102, 725 17th Street NW., Washington, DC 20503. Comments sent to OMB by U.S. postal mail, however, are subject to delays due to heightened security precautions. Thus, comments instead should be sent by facsimile to (202) 395-5167.