Comments due this month on credit card agreement reporting to consumer bureau

The Bureau of Consumer Financial Protection (BCFP, formerly known as CFPB) is in the process of renewing its collection of consumer and college credit card agreements, and those interested can still submit comments on the collection if they do so by Aug. 20.

The agreements are collected under requirements of the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009. The bureau’s estimated number of respondents for this collection is 430, with 430 annual burden hours estimated in all.

The bureau issued an initial request for comments in late February and received three responses. While no changes are being made to the collection, the bureau continues to welcome input on the following:

(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.

Notice and request for comment

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