Prize Competitions Program Records

The new system of records described in this notice, CFPB.023—CFPB Prize Competitions Program Records, will enable the CFPB to manage its prize competition program authorized by the America COMPETES Reauthorization Act of 2010, select judges for CFPB sponsored prize competitions, maintain accounting and financial information associated with making authorized payments to companies or individuals who are CFPB sponsored prize competition awardees, develop reports to applicable federal, state, and local taxing officials of taxable income, and to meet other reporting requirements. The CFPB will maintain control over the records covered by this notice.

Who is covered? Individuals covered by this system are those who: participate in a CFPB sponsored prize competition, or is a CFPB sponsored prize competition awardee, including representatives of companies who, in their business capacity, may participate in or otherwise represent their companies in CFPB sponsored prize competitions; nominate an individual to serve as a judge for a CFPB sponsored prize competition, or is nominated to serve as a judge, is currently serving as a judge, has been selected as an alternative judge, and/or has served as a judge and is no longer serving; and notarize, witness, or otherwise verify a declaration of participation associated with a CFPB sponsored prize competition.

What information is collected? This system will contain contact information (name, phone numbers, email addresses); employment information, including title; information necessary for payment, including Social Security number (“SSN”), Tax Identification Number (“TIN”), Employee Identification Number (“EIN”), Data Universal Numbering System (“DUNS”) Number, Commercial and Government Entity (“CAGE”) number, Electronic Funds Transfer (“EFT”) data, and/or financial institution name, routing, and account numbers; and information relevant to determination of eligibility for selection as a prize competition awardee, such as employment information, citizenship status, and declaration of desire and eligibility to participate. 

Why is the information collected? The purpose of the system is to enable the CFPB to manage its prize competition program authorized by the America COMPETES Reauthorization Act of 2010, select judges for CFPB sponsored prize competitions, maintain accounting and financial information associated with making authorized payments to companies or individuals who are CFPB sponsored prize competition awardees, develop reports to applicable federal, state, and local taxing officials of taxable income, and to meet other reporting requirements.


System of Records Notice

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