OMB Request: Consumer and College Credit Card Agreements

OMB Request: Consumer and College Credit Card Agreements

 In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection, titled, ''Consumer and College Credit Card Agreements.'' 

Sections 204 and 305 of the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act) and 12 CFR 226.57(d) and 226.58 require card issuers to submit to the Bureau:  

  • Agreements between the issuer and a consumer under a credit card account for an open-end consumer credit plan; and VerDate Sep<11>2014 17:25 Feb 27, 2018 Jkt 244001 PO 00000 Frm 00008 Fmt 4703 Sfmt 4703 E:\FR\FM\28FEN1.SGM 28FEN1 sradovich on DSK3GMQ082PROD with NOTICES Federal Register / Vol. 83, No. 40 / Wednesday, February 28, 2018 / Notices 8657
  • Any college credit card agreements to which the issuer is a party and certain additional information regarding those agreements. The data collections enable the Bureau to provide consumers with a centralized depository for consumer and college credit card agreements. It also presents information to the public regarding the arrangements between financial institutions and institutions of higher education.

Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the Bureau, including whether the information will have practical utility; (b) The accuracy of the Bureau's estimate of the burden of the collection of information, including the validity of the methods and the assumptions used; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; and (d) Ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record.