Notice2022-23805
Privacy Act of 1974; System of Records
Primary source
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Published
November 2, 2022
Effective
November 2, 2022
Issuing agencies
Federal Deposit Insurance Corporation
Abstract
Pursuant to the provisions of the Privacy Act of 1974, as amended, the Federal Deposit Insurance Corporation (FDIC) proposes to modify a current FDIC system of records titled FDIC-013, Insured Financial Institution Liquidation Records, by updating the name to FDIC-013, Financial Institution Resolution and Receivership Records to more closely reflect the records processed by this system of records; adding a new routine use to allow members of the public to locate and understand the status of their accounts; and revising the policies and practices for retention and disposal of records to describe the records retention schedules for the records included in this system of records. Additionally, this notice includes non-substantive changes to simplify the formatting and text of the previously published notice. We hereby publish this notice for comment on the proposed action.
Full Text
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<title>Federal Register, Volume 87 Issue 211 (Wednesday, November 2, 2022)</title>
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[Federal Register Volume 87, Number 211 (Wednesday, November 2, 2022)]
[Notices]
[Pages 66178-66181]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-23805]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Privacy Act of 1974; System of Records
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice of modified systems of records.
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SUMMARY: Pursuant to the provisions of the Privacy Act of 1974, as
amended, the Federal Deposit Insurance Corporation (FDIC) proposes to
modify a current FDIC system of records titled FDIC-013, Insured
Financial Institution Liquidation Records, by updating the name to
FDIC-013, Financial Institution Resolution and Receivership Records to
more closely reflect the records processed by this system of records;
adding a new routine use to allow members of the public to locate and
understand the status of their accounts; and revising the policies and
practices for retention and disposal of records to describe the records
retention schedules
[[Page 66179]]
for the records included in this system of records. Additionally, this
notice includes non-substantive changes to simplify the formatting and
text of the previously published notice. We hereby publish this notice
for comment on the proposed action.
DATES: This action will become effective on November 2, 2022. The
routine uses in this action will become effective on December 2, 2022,
unless the FDIC makes changes based on comments received. Written
comments should be submitted on or before December 2, 2022.
ADDRESSES: Interested parties are invited to submit written comments
identified by Privacy Act Systems of Records by any of the following
methods:
<bullet> Agency Website: <a href="https://www.fdic.gov/resources/regulations/federal-register-publications/">https://www.fdic.gov/resources/regulations/federal-register-publications/</a>. Follow the instructions for
submitting comments on the FDIC website.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#95f6faf8f8f0fbe1e6d5f3f1fcf6bbf2fae3"><span class="__cf_email__" data-cfemail="583b3735353d362c2b183e3c313b763f372e">[email protected]</span></a>. Include ``Comments-SORN'' in the
subject line of communication.
<bullet> Mail: James P. Sheesley, Assistant Executive Secretary,
Attention: Comments-SORN, Legal Division, Office of the Executive
Secretary, Federal Deposit Insurance Corporation, 550 17th Street NW,
Washington, DC 20429.
<bullet> Hand Delivery: Comments may be hand-delivered to the guard
station at the rear of the 17th Street NW building (located on F Street
NW), on business days between 7:00 a.m. and 5:00 p.m.
<bullet> Public Inspection: Comments received, including any
personal information provided, may be posted without change to <a href="https://www.fdic.gov/resources/regulations/federal-register-publications/">https://www.fdic.gov/resources/regulations/federal-register-publications/</a>.
Commenters should submit only information that the commenter wishes to
make available publicly. The FDIC may review, redact, or refrain from
posting all or any portion of any comment that it may deem to be
inappropriate for publication, such as irrelevant or obscene material.
The FDIC may post only a single representative example of identical or
substantially identical comments, and in such cases will generally
identify the number of identical or substantially identical comments
represented by the posted example. All comments that have been
redacted, as well as those that have not been posted, that contain
comments on the merits of this document will be retained in the public
comment file and will be considered as required under all applicable
laws. All comments may be accessible under the Freedom of Information
Act.
FOR FURTHER INFORMATION CONTACT: Shannon Dahn, Chief, Privacy Program,
703-516-5500, <a href="/cdn-cgi/l/email-protection#aededcc7d8cfcdd7eec8cac7cd80c9c1d8"><span class="__cf_email__" data-cfemail="4c3c3e253a2d2f350c2a28252f622b233a">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: The Privacy Act, 5 U.S.C. 552a, at
subsection (b)(3), requires each agency to publish, for public notice
and comment, significant changes that the agency intends to make to a
Privacy Act system of records. The ``FDIC-013, Financial Institution
Resolution and Receivership Records,'' system of records supports the
receivership, conservatorship, and other regulatory or resolution
functions of the FDIC. The records are maintained to: (a) identify and
manage loan obligations, assets or liabilities acquired from failed
FDIC-insured financial institutions for which the FDIC was appointed
receiver or conservator, or from FDIC-insured financial institutions
that were provided assistance by the FDIC, or identified as covered
institutions; (b) identify, manage and discharge the obligations to
creditors, obligees and other claimants of FDIC-insured financial
institutions for which the FDIC was appointed receiver or conservator,
or of FDIC-insured financial institutions that were provided assistance
by the FDIC; and (c) support resolution planning, administration, and
research in accordance with statutory mandates.
The FDIC proposes to update the name of the system of records from
``FDIC-013, Insured Financial Institution Liquidation Records,'' to
``FDIC-013, Financial Institution Resolution and Receivership Records''
to better align the name with the contents of the system of record.
The FDIC proposes to add a new routine use (18) to allow members of
the public access to locate and understand the status of their accounts
previously held by a financial institution.
Additionally, after a review of business requirements, the FDIC has
updated its retention schedules for specific types of records covered
by this system of records. Failed insured depository institution data
are maintained for at least ten years after appointment of FDIC as
receiver in accordance with approved records retention schedules.
Records generated as part of the resolution of a failed insured
depository institution are maintained in accordance with approved
retention schedules, typically not exceeding fifteen years after the
termination of the receivership or as established by state or federal
law or court order, if longer. Disposal is by shredding or other
appropriate disposal methods.
This notice includes non-substantive changes to simplify the
formatting and text of the previously published notice. This modified
system will be included in the FDIC's inventory of record systems.
System Name and Number:
Financial Institution Resolution and Receivership Records, FDIC-
013.
Security Classification:
Unclassified.
System Location:
Records are maintained at FDIC facilities in Washington, DC;
Arlington, VA; and regional offices. Original and duplicate systems may
exist, in whole or in part, at secure sites and on secure servers
maintained by third-party service providers for the FDIC.
System Manager(s):
Deputy Director, Division of Resolutions and Receiverships, FDIC,
550 17th Street NW, Washington, DC 20429; 600 North Pearl Street, Suite
700, Dallas, Texas 75201.
Authority for Maintenance of the System:
Sections 9, 11, and 13 of the Federal Deposit Insurance Act (12
U.S.C. 1819, 1821, 1822, and 1823) and applicable state laws governing
the liquidation of assets and winding-up of the affairs of financial
institutions.
Purpose(S) Of The System:
The records support the receivership and resolution functions of
the FDIC. The records are maintained to: (a) identify and manage loan
obligations, assets and liabilities acquired from failed FDIC-insured
financial institutions for which the FDIC was appointed receiver or
conservator, or from FDIC-insured financial institutions that were
provided assistance by the FDIC; (b) identify, manage and discharge the
obligations to creditors, obligees and other claimants of FDIC-insured
financial institutions for which the FDIC was appointed receiver or
conservator, or of FDIC-insured financial institutions that were
provided assistance by the FDIC; and (c) support resolution planning,
administration, and research in accordance with statutory mandates.
Categories of Individuals Covered by the System:
Individuals who are or were obligors, obligees, or subject to
claims of FDIC-insured or covered financial institutions for which the
FDIC performs resolution or receivership functions.
Categories of Records in the System:
This system contains the individual's files held by the FDIC
insured, failing,
[[Page 66180]]
failed, or covered financial institution, including deposit, loan, or
contractual agreements, related documents, and correspondence. The
system also contains FDIC asset files, including judgments obtained,
restitution orders, and loan deficiencies arising from the liquidation
of the obligor's loan asset(s) and associated collateral, if any;
information relating to the obligor's financial condition such as
financial statements and income tax returns; asset or collateral
verifications or searches; appraisals; and potential sources of
repayment. FDIC asset files also include intra- or inter-agency
memoranda, as well as notes, correspondence, and other documents
relating to the liquidation of the loan obligation or asset. FDIC
receivership claim files may include all information related to claims
filed with the receivership estate by a failed financial institution's
landlords, creditors, service providers or other obligees or claimants.
Record Source Categories:
Information is obtained from the individual on whom the record is
maintained; appraisers retained by the originating financial
institution or the FDIC; investigative and/or research companies;
credit bureaus and/or services; loan servicers; deposit servicers,
court records; references named by the individual; attorneys or
accountants retained by the originating financial institution or the
FDIC; participants in the obligation(s) of the individual; officers and
employees of the financial institution;; and other parties providing
services to the FDIC in support of the resolution and receivership
functions of the FDIC.
Routine Uses of Records Maintained in the System, Including Categories
of Users and Purposes of Such Uses:
In addition to those disclosures generally permitted under 5 U.S.C.
552a(b) of the Privacy Act, all or a portion of the records or
information contained in this system may be disclosed outside the FDIC
as a routine use as follows:
(1) To appropriate Federal, State, local and foreign authorities
responsible for investigating or prosecuting a violation of, or for
enforcing or implementing a statute, rule, regulation, or order issued,
when the information indicates a violation or potential violation of
law, whether civil, criminal, or regulatory in nature, and whether
arising by general statute or particular program statute, or by
regulation, rule, or order issued pursuant thereto;
(2) To a court, magistrate, or other administrative body in the
course of presenting evidence, including disclosures to counsel or
witnesses in the course of civil discovery, litigation, or settlement
negotiations or in connection with criminal proceedings, when the FDIC
is a party to the proceeding or has a significant interest in the
proceeding, to the extent that the information is determined to be
relevant and necessary;
(3) To a congressional office in response to an inquiry made by the
congressional office at the request of the individual who is the
subject of the record;
(4) To appropriate agencies, entities, and persons when (a) the
FDIC suspects or has confirmed that there has been a breach of the
system of records; (b) the FDIC has determined that as a result of the
suspected or confirmed breach there is a risk of harm to individuals,
the FDIC (including its information systems, programs, and operations),
the Federal Government, or national security; the FDIC and (c) the
disclosure made to such agencies, entities, and persons is reasonably
necessary to assist in connection with the FDIC's efforts to respond to
the suspected or confirmed breach or to prevent, minimize, or remedy
such harm;
(5) To another Federal agency or Federal entity, when the FDIC
determines that information from this system of records is reasonably
necessary to assist the recipient agency or entity in (a) responding to
a suspected or confirmed breach or (b) preventing, minimizing, or
remedying the risk of harm to individuals, the recipient agency or
entity (including its information systems, programs, and operations),
the Federal Government, or national security, resulting from a
suspected or confirmed breach.
(6) To appropriate Federal, State, and local authorities in
connection with hiring or retaining an individual, conducting a
background security or suitability investigation, adjudication of
liability, or eligibility for a license, contract, grant, or other
benefit;
(7) To appropriate Federal, State, and local authorities, agencies,
arbitrators, and other parties responsible for processing any personnel
actions or conducting administrative hearings or corrective actions or
grievances or appeals, or if needed in the performance of other
authorized duties;
(8) To appropriate Federal agencies and other public authorities
for use in records management inspections;
(9) To contractors or entities performing services for the FDIC in
connection with the liquidation of an individual's obligation(s),
including judgments and loan deficiencies or in connection with the
fulfillment of a claim filed with the FDIC. Third party contractors
include, but are not limited to, asset marketing contractors; loan
servicers; appraisers; environmental contractors; attorneys retained by
the FDIC; collection agencies; auditing or accounting firms retained to
assist in an audit or investigation of the FDIC's resolution
activities; grantees, volunteers, and others performing or working on a
contract, service, grant, cooperative agreement, or project for the
FDIC;
(10) To officials of a labor organization when relevant and
necessary to their duties of exclusive representation concerning
personnel policies, practices, and matters affecting working
conditions;
(11) To prospective purchaser(s) of the individual's obligation(s),
including judgments and loan deficiencies, for the purpose of informing
the prospective purchaser(s) about the nature and quality of the loan
obligation(s) to be purchased;
(12) To Federal or State agencies, such as the Internal Revenue
Service or State taxation authorities, in the performance of their
governmental duties, such as obtaining information regarding income,
including the reporting of income resulting from a compromise or write-
off of a loan obligation;
(13) To participants in the loan obligation in order to fulfill any
contractual or incidental responsibilities in connection with the loan
participation agreement;
(14) To the Department of the Treasury, federal debt collection
centers, other appropriate federal agencies, and private collection
contractors or other third parties authorized by law, for the purpose
of collecting or assisting in the collection of delinquent debts owed
to the FDIC. Disclosure of information contained in these records will
be limited to the individual's name, Social Security number, and other
information necessary to establish the identity of the individual, and
the existence, validity, amount, status and history of the debt.
(15) To Federal or State agencies or to financial institutions
where information is relevant to an application or request by the
individual for a loan, grant, financial benefit, or other entitlement;
(16) To Federal or State examiners for the purposes of examining
borrowing relationships in operating financial institutions that may be
related to an obligation of an individual covered by this system;
(17) To the individual, the individual's counsel or other
representatives, insurance carrier(s) or
[[Page 66181]]
underwriters of bankers' blanket bonds or other financial institution
bonds in conjunction with claims made by the FDIC or litigation
instituted by the FDIC or others on behalf of the FDIC against former
officers, directors, accountants, lawyers, consultants, appraisers, or
underwriters of bankers' blanket bonds or other financial institution
bonds; and
(18) To allow members of the public access to a limited portion of
the data sufficient to help individuals locate and understand the
status of their accounts previously held by a financial institution.
Policies and Practices for Storage of Records:
Records are stored in electronic media and in paper format within
individual file folders.
Policies and Practices for Retrieval of Records:
Records are indexed by financial institution number, name of failed
or assisted insured or covered institution, name of individual, social
security number, and loan number, if applicable.
Policies and Practices for Retention and Disposal of Records:
Failed insured depository institution data are maintained for at
least ten years after appointment of FDIC as receiver in accordance
with approved records retention schedules. Records generated as part of
the resolution of a failed insured depository institution are
maintained in accordance with approved retention schedules typically
not exceeding fifteen years after the termination of the receivership
or as established by state or federal law or court order, if longer.
Disposal is by shredding or other appropriate disposal methods.
Administrative, Technical, and Physical Safeguards:
Records are protected from unauthorized access and improper use
through administrative, technical, and physical security measures.
Administrative safeguards include written guidelines on handling
personal information including agency-wide procedures for safeguarding
personally identifiable information. In addition, all FDIC staff are
required to take annual privacy and security training. Technical
security measures within FDIC include restrictions on computer access
to authorized individuals who have a legitimate need to know the
information; required use of strong passwords that are frequently
changed; multi-factor authentication for remote access and access to
many FDIC network components; use of encryption for certain data types
and transfers; firewalls and intrusion detection applications; and
regular review of security procedures and best practices to enhance
security. Physical safeguards include restrictions on building access
to authorized individuals, security guard service, and maintenance of
records in lockable offices and filing cabinets.
Record Access Procedures:
Individuals wishing to request access to records about them in this
system of records must submit their request in writing to the FDIC FOIA
& Privacy Act Group, 550 17th Street NW, Washington, DC 20429, or email
<a href="/cdn-cgi/l/email-protection#87e2e1e8eee6c7e1e3eee4a9e0e8f1"><span class="__cf_email__" data-cfemail="d0b5b6bfb9b190b6b4b9b3feb7bfa6">[email protected]</span></a>. Requests must include full name, address, and
verification of identity in accordance with FDIC regulations at 12 CFR
part 310.
Contesting Record Procedures:
Individuals wishing to contest or request an amendment to their
records in this system of records must submit their request in writing
to the FDIC FOIA & Privacy Act Group, 550 17th Street NW, Washington,
DC 20429, or email <a href="/cdn-cgi/l/email-protection#4e2b2821272f0e282a272d60292138"><span class="__cf_email__" data-cfemail="791c1f161018391f1d101a571e160f">[email protected]</span></a>. Requests must specify the
information being contested, the reasons for contesting it, and the
proposed amendment to such information in accordance with FDIC
regulations at 12 CFR part 310.
Notification Procedures:
Individuals wishing to know whether this system contains
information about them must submit their request in writing to the FDIC
FOIA & Privacy Act Group, 550 17th Street NW, Washington, DC 20429, or
email <a href="/cdn-cgi/l/email-protection#b7d2d1d8ded6f7d1d3ded499d0d8c1"><span class="__cf_email__" data-cfemail="7114171e181031171518125f161e07">[email protected]</span></a>. Requests must include full name, address, and
verification of identity in accordance with FDIC regulations at 12 CFR
part 310.
Exemptions Promulgated for the System:
None.
History:
84 FR 35184 (July 22, 2019).
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on October 27, 2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-23805 Filed 11-1-22; 8:45 am]
BILLING CODE 6714-01-P
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