Semiannual Regulatory Agenda

Part XX

Federal Trade Commission

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###Semiannual Regulatory Agenda###

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FEDERAL TRADE COMMISSION (FTC)

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FEDERAL TRADE COMMISSION

16 CFR Ch. I

Semiannual Regulatory Agenda

AGENCY: Federal Trade Commission.

ACTION: Semiannual regulatory agenda.

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SUMMARY: The following agenda of Commission proceedings is published in

accordance with section 22(d)(1) of the Federal Trade Commission Act,

15 U.S.C. 57b-3(d)(1), and the Regulatory Flexibility Act (RFA), 5

U.S.C. 601 to 612, as amended by the Small Business Regulatory

Enforcement Fairness Act. The Commission's agenda follows guidelines

and procedures issued January 15, 2010, by the Office of Management and

Budget in accordance with the provisions of Executive Order No. 12866

``Regulatory Planning and Review'' of September 30, 1993, 58 FR 51735

(Oct. 4, 1993).

Since the fall 2007 edition, the Internet has been the basic

means for disseminating the Unified Agenda. The complete Unified

Agenda is available online at www.reginfo.gov. Because publication

in the Federal Register is mandated for the regulatory flexibility

agendas required by the Regulatory Flexibility Act (5 U.S.C. 602),

the Commission's printed agenda entries include only: Rules that

are in the Agency's regulatory flexibility agenda, in accordance

with the Regulatory Flexibility Act, because they are likely to

have a significant economic impact on a substantial number of small

entities; and any rules that the Agency has identified for periodic

review under section 610 of the Regulatory Flexibility Act.

Printing of these entries is limited to fields that contain

information required by the Regulatory Flexibility Act's Agenda

requirements. Additional information on these entries is available

in the Unified Agenda published on the Internet.

The Commission's agenda also references the Web site

www.regulations.gov where appropriate. This is the Governmentwide

Web site where members of the public can find, review, and submit

comments on Federal rulemakings that are open for comment and

published in the Federal Register.

The Commission has one rule that is a ``significant regulatory

action'' under the definition in Executive Order 12866. This is the

FACTA (or Fair and Accurate Credit Transactions Act of 2003) Risk-

Based Pricing Final Rule, which the Commission issued jointly with

the Federal Reserve on January 15, 2010 (75 FR 2724). There is

further information about this in the Agenda abstract for FACTA

rulemakings.

The Commission has responded to OMB's request that agencies

discuss international effects of their rulemakings in The

Regulatory Plan narrative. 74 FR 64137, 64366. The Commission has

also responded to the optional information requirement to identify

rulemakings that are likely to have some impact on small entities

but are not subject to the requirements of the RFA. The current

rulemakings that are likely to have some impact on small entities

but are not subject to the requirements of the RFA are: (1) The

Appliance Labeling Rule, 16 CFR 305; (2) the Automotive Fuel

Ratings, Certification, and Posting Rule, 16 CFR 306; (3) the

Smokeless Tobacco Rules, 16 CFR 307; (4) the Pay-Per-Call Rule (or

``the 1-900 Rule''), 16 CFR 308; (5) Labeling Requirements for

Alternative Fuels and Alternative-Fueled Vehicles, 16 CFR 309; (6)

Telemarketing Sales Rule, 16 CFR 310; (7) Children's Online Privacy

Protection Rule, 16 CFR 312; (8) Privacy of Consumer Financial

Information, 16 CFR 313; (9) the Rulemaking With Respect to

Mortgage Loans, to be codified at 16 CFR 321, 322; (10) Retail Food

Store Advertising and Marketing Practices, 16 CFR 424; (11) the

Negative Option Rule, 16 CFR 425; (12) the Cooling-Off Rule, 16 CFR

429; (13) the Amplifier Rule, 16 CFR 432; (14) the Holder-in-Due

Course Rule, 16 CFR 433; (15) Mail or Telephone Order Merchandise

Rule, 16 CFR 435; (15) the Business Opportunity Rule, to be

codified at 16 CFR 437; (16) the Used Car Rule, 16 CFR 455; and

(17) certain rules implementing the Fair and Accurate Credit

Transactions Act of 2003 (FACTA), 16 CFR 602, 603, 604, 610, 611,

613, 614, 641, 642, 660, 680, 681, 682, and 698.

In addition, the Agency has responded to the optional

information question that corresponds to Executive Order 13132

``Federalism,'' of August 4, 1999, 64 FR 43255 (Aug. 10, 1999),

which does not apply to independent regulatory agencies. The

Commission believes to the extent that any of the rules in this

agenda may have ``substantial direct effects on the States, on the

relationship between the national government and the States, or on

the distribution of power and responsibilities among the various

levels of government'' within the meaning of E.O. 13132, it has

consulted with the affected entities. The Commission continues to

work closely with the States and other governmental units in its

rulemaking process, which explicitly considers the effect of the

Agency's rules on these governmental entities.

Some of the rulemakings listed in the agenda are being

conducted as part of the Commission's plan to review and seek

information every 10 years about all of its regulations and guides,

including their costs and benefits and regulatory and economic

impact. These reviews incorporate and expand upon the review

required by the RFA and regulatory reform initiatives directing

agencies to conduct a review of all regulations and eliminate or

revise those that are outdated or otherwise in need of reform.

Except for notice of completed actions, the information in this

agenda represents the judgment of Commission staff, based upon

information now available. Each projected date of action reflects

an assessment by the FTC staff of the likelihood that the specified

event will occur during the coming year. No final determination by

the staff or the Commission respecting the need for, or the

substance of, a trade regulation rule or any other procedural

option should be inferred from the notation of projected events in

this agenda. In most instances, the dates of future events are

listed by month, not by a specific day. The acquisition of new

information, changes of circumstances, or changes in the law may

alter this information.

FOR FURTHER INFORMATION CONTACT: For information about specific

regulatory actions listed in the agenda, call, e-mail, or write the

contact person listed for each particular proceeding. General comments

or questions about the agenda should be directed to G. Richard Gold,

Attorney, telephone: (202) 326-3355; e-mail: [email protected], or Robert

A. Nelson, Jr., Paralegal, telephone: (202) 326-2931; e-mail:

[email protected], Federal Trade Commission, 600 Pennsylvania Avenue NW.,

Washington, DC 20580.

By direction of the Commission.

Donald S. Clark,

Secretary.

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Federal Trade Commission--Completed Actions

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Regulation

Sequence Title Identifier

Number Number

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411 Privacy of Consumer Financial Information............................................. 3084-AA97

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Federal Trade Commission (FTC) Completed Actions

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411. PRIVACY OF CONSUMER FINANCIAL INFORMATION

Legal Authority: 15 USC 6801 et seq

Abstract: This rulemaking is related to RIN 3084-AA85. In 2000, the

Commission, the banking agencies, and the Securities and Exchange

Commission published rules (Privacy Rules) for the Gramm-Leach-Bliley

Act (GLB Act) requirement that financial institutions provide a notice

of its privacy policies and practices to its customers. The Privacy

Rule does not specify any format or standardized wording for these

notices. In response to concerns expressed by representatives of

financial institutions, consumers, privacy advocates, and Members of

Congress, the agencies conducted a workshop in December 2001 to

consider how financial institutions could provide more useful privacy

notices to consumers. Subsequently, the agencies published an advance

notice of proposed rulemaking (ANPRM) and requested comments on a

variety of subjects including the goals, elements, language, costs and

benefits, and permissible aspects of alternative privacy notices. 68 FR

75164. The comment period ended on March 29, 2004. Six of these

agencies (seven as of April 2006) thereafter funded consumer research

and testing to inform the development of alternative privacy notices

that are easier for consumers to understand and use.

As directed by section 728 of the Financial Services Relief Act of

2006, Public Law No. 109-351, which added section 503(e) to the GLB

Act, the Commission, together with seven other Federal agencies (the

Board of Governors of the Federal Reserve System, the Federal Deposit

Insurance Corporation, the Office of the Comptroller of the Currency,

the Office of Thrift Supervision, the National Credit Union

Administration, the Securities and Exchange Commission, and the

Commodity Futures Trading Commission), must propose a model form that

may be used at the option of financial institutions for the privacy

notices required under GLB within 280 days after enactment, or by April

11, 2007. On March 29, 2007, the agencies published an NPRM proposing a

model form of the prototype privacy notice developed during the

consumer research testing project undertaken by first six, then seven,

of these agencies. 72 FR 14940. Errata were published in the Federal

Register on April 5, 2007. 72 FR 16875. The comment period ended on May

29, 2007. On November 17, 2009, the agencies announced a model privacy

form that financial institutions may rely on as a safe harbor to

provide disclosures under the privacy rules. 75 FR 62890. In addition,

the agencies other than the SEC are eliminating the safe harbor

permitted for notices based on the Sample Clauses currently contained

in the privacy rules if the notice is provided after December 31, 2010.

Timetable:

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Action Date FR Cite

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Public Workshop 12/04/01

ANPRM 12/30/03 68 FR 75164

ANPRM Comment Period End 03/29/04

NPRM 03/29/07 72 FR 14940

Errata 04/05/07 72 FR 16875

NPRM Comment Period End 05/29/07

Final Rule 12/01/09 74 FR 62890

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Loretta Garrison, Senior Attorney, Federal Trade

Commission, Bureau of Consumer Protection, 600 Pennsylvania Avenue NW,

Washington, DC 20580

Phone: 202 326-3043

Email: [email protected]

RIN: 3084-AA97

[FR Doc. 2010-8982 Filed 04-23-10; 8:45 am]

BILLING CODE 6750-01-S