Notice2023-17829
Proposed Agency Information Collection Activities; Comment Request
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
August 18, 2023
Issuing agencies
Federal Reserve System
Abstract
The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Disclosure Requirements Associated with the Consumer Financial Protection Bureau's (CFPB) Regulation DD (FR DD; OMB No. 7100-0271).
Full Text
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<title>Federal Register, Volume 88 Issue 159 (Friday, August 18, 2023)</title>
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[Federal Register Volume 88, Number 159 (Friday, August 18, 2023)]
[Notices]
[Pages 56627-56628]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-17829]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
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SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, without
revision, the Disclosure Requirements Associated with the Consumer
Financial Protection Bureau's (CFPB) Regulation DD (FR DD; OMB No.
7100-0271).
DATES: Comments must be submitted on or before October 17, 2023.
ADDRESSES: You may submit comments, identified by FR DD, by any of the
following methods:
<bullet> Agency Website: <a href="https://www.federalreserve.gov/">https://www.federalreserve.gov/</a>. Follow
the instructions for submitting comments at <a href="https://www.federalreserve.gov/apps/foia/proposedregs.aspx">https://www.federalreserve.gov/apps/foia/proposedregs.aspx</a>.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#9be9fefce8b5f8f4f6f6fef5efe8dbfdfefffee9faf7e9fee8fee9edfeb5fcf4ed"><span class="__cf_email__" data-cfemail="a5d7c0c2d68bc6cac8c8c0cbd1d6e5c3c0c1c0d7c4c9d7c0d6c0d7d3c08bc2cad3">[email protected]</span></a>. Include the OMB
number or FR number in the subject line of the message.
<bullet> Fax: (202) 452-3819 or (202) 452-3102.
<bullet> Mail: Federal Reserve Board of Governors, Attn: Ann E.
Misback, Secretary of the Board, Mailstop M-4775, 2001 C St NW,
Washington, DC 20551.
All public comments are available from the Board's website at
<a href="https://www.federalreserve.gov/apps/foia/proposedregs.aspx">https://www.federalreserve.gov/apps/foia/proposedregs.aspx</a> as
submitted, unless modified for technical reasons or to remove
personally identifiable information at the commenter's request.
Accordingly, comments will not be edited to remove any confidential
business information, identifying information, or contact information.
Public comments may also be viewed electronically or in paper in Room
M-4365A, 2001 C St NW, Washington, DC 20551, between 9:00 a.m. and 5:00
p.m. on weekdays, except for Federal holidays. For security reasons,
the Board requires that visitors make an appointment to inspect
comments. You may do so by calling (202) 452-3684. Upon arrival,
visitors will be required to present valid government-issued photo
identification and to submit to security screening in order to inspect
and photocopy comments.
Additionally, commenters may send a copy of their comments to the
Office of Management and Budget (OMB) Desk Officer for the Federal
Reserve Board, Office of Information and Regulatory Affairs, Office of
Management and Budget, New Executive Office Building, Room 10235, 725
17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.
FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of
Governors of the Federal Reserve System, <a href="/cdn-cgi/l/email-protection#e08e958881ce858c8d81878892818289a0869282ce878f96"><span class="__cf_email__" data-cfemail="96f8e3fef7b8f3fafbf7f1fee4f7f4ffd6f0e4f4b8f1f9e0">[email protected]</span></a>, (202)
452-3884.
SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board
authority under the Paperwork Reduction Act (PRA) to approve and assign
OMB control numbers to collections of information conducted or
sponsored by the Board. In exercising this delegated authority, the
Board is directed to take every reasonable step to solicit comment. In
determining whether to approve a collection of information, the Board
will consider all comments received from the public and other agencies.
During the comment period for this proposal, a copy of the proposed
PRA OMB submission, including the draft reporting form and
instructions, supporting statement (which contains more detail about
the information collection and burden estimates than this notice), and
other documentation, will be made available on the Board's public
website at <a href="https://www.federalreserve.gov/apps/reportingforms/home/review">https://www.federalreserve.gov/apps/reportingforms/home/review</a> or may be requested from the agency clearance officer, whose
name appears above. Final versions of these documents will be made
available at https://
[[Page 56628]]
www.reginfo.gov/public/do/PRAMain, if approved.
Request for Comment on Information Collection Proposal
The Board invites public comment on the following information
collection, which is being reviewed under authority delegated by the
OMB under the PRA. Comments are invited on the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Board's functions, including whether the
information has practical utility;
b. The accuracy of the Board's estimate of the burden of the
proposed information collection, including the validity of the
methodology and assumptions used;
c. Ways to enhance the quality, utility, and clarity of the
information to be collected;
d. Ways to minimize the burden of information collection on
respondents, including through the use of automated collection
techniques or other forms of information technology; and
e. Estimates of capital or startup costs and costs of operation,
maintenance, and purchase of services to provide information.
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which the Board
should modify the proposal.
Proposal Under OMB Delegated Authority To Extend for Three Years,
Without Revision, the Following Information Collection
Collection title: Disclosure Requirements Associated with the
Consumer Financial Protection Bureau's (CFPB) Regulation DD.
Collection identifier: FR DD.
OMB control number: 7100-0271.
General description of collection: The Truth in Savings Act (TISA)
was contained in the Federal Deposit Insurance Corporation Improvement
Act of 1991. The FR DD is the Board's information collection associated
with the CFPB's Regulation DD, which implements TISA to assist
consumers in comparing deposit accounts offered by institutions,
principally through the disclosure of fees, the annual percentage
yield, and other account terms.
Frequency: The FR DD is triggered by specific events, and
disclosures must be provided to consumers within the time periods
established by TISA and Regulation DD. The Board currently estimates
the frequency of disclosure as monthly, as more granular information
(i.e., number of accounts subject to Regulation DD) is not readily
available.
Respondents: Except those that are supervised by the CFPB, the FR
DD panel comprises state member banks, branches of foreign banks (other
than federal branches and insured state branches of foreign banks),
commercial lending companies owned or controlled by foreign banks, and
organizations operating under section 25 of the Federal Reserve Act.
Total estimated number of respondents: 770.
Total estimated annual burden hours: 25,410.
Board of Governors of the Federal Reserve System, August 15,
2023.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2023-17829 Filed 8-17-23; 8:45 am]
BILLING CODE 6210-01-P
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