On March 20, the Consumer Financial Protection Bureau (CFPB) published a request for comments in the Federal Register regarding information collection activities.

In accordance with the Paperwork Reduction Act of 1995, the CFPB asked the Office of Management and Budget to reinstate an information collection regulation titled “Mortgage Acts and Practices — Advertising (Regulation N).”

Regulation N prohibits the misrepresentation of the terms of mortgage credit products in commercial communications and requires that covered persons maintain records for a period of 24 months from last dissemination, ensuring efficient and effective law enforcement to address deceptive practices that occur in the mortgage advertising area.

The CFPB is requesting comments on the following:

• Whether the collection of information is necessary for the proper performance of the functions of the CFPB, including whether the information will have practical utility
• The accuracy of the CFPB’s estimate of the burden of the collection of information, including the validity of the methods and the assumptions used
• Ways to enhance the quality, utility and clarity of the information to be collected
• Ways to minimize the burden of the collection of information on respondents, such as using automated collection techniques or other forms of information technology

Comments are due April 20.