📄FTC Proposes Extension for Information Collection Compliance
Agency Information Collection Activities; Submission for OMB Review; Comment Request
Summary
The Federal Trade Commission ("FTC" or "Commission") requests that the Office of Management and Budget ("OMB") extend for an additional three years the current Paperwork Reduction Act ("PRA") clearance for the information collection requirements in the regulations governing "Duties of Furnishers of Information to Consumer Reporting Agencies" ("Information Furnishers Rule"), which applies to certain motor vehicle dealers, and its shared enforcement with the Consumer Financial Protection Bureau ("CFPB") of the furnisher provisions (subpart E) of the CFPB's Regulation V regarding other entities. That clearance expires on September 30, 2025.
Agencies
- Federal Trade Commission
Business Impact
$$ - Med
The text details the information collection requirements imposed by the FTC under the Information Furnishers Rule, affecting businesses (specifically motor vehicle dealers) in terms of compliance and regulatory burdens as they must adhere to rules regarding accuracy and consumer complaint management.