📝FTC Seeks Comments on Consumer Reporting Agency Information Collection
Agency Information Collection Activities; Proposed Collection; Comment Request; Extension
Summary
The FTC requests that the Office of Management and Budget (OMB) extend for three years the current Paperwork Reduction Act (PRA) clearance for information collection requirements contained in the agency's shared enforcement with the Consumer Financial Protection Bureau (CFPB) of the CFPB's rule on Duties of Consumer Reporting Agencies Regarding Disclosures to Consumers (Rule). That clearance expires on April 30, 2025.
Agencies
- Federal Trade Commission
Business Impact
$$ - Med
The notice highlights the FTC's request for public comment on information collection rules related to consumer reporting agencies, impacting compliance requirements for businesses handling sensitive consumer data. Failure to adhere could result in penalties, thus affecting operational costs and legal responsibilities for business owners.