Notice2024-01092
Agency Information Collection Activities: Proposed Collection Renewal; 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
January 22, 2024
Issuing agencies
Federal Deposit Insurance Corporation
Abstract
The FDIC, as part of its obligations under the Paperwork Reduction Act of 1995, invites the general public and other Federal agencies to take this opportunity to comment on the request to renew the existing information collections described below (OMB Control No. 3064-0085; -0149; -0194). The notices of the proposed renewal for these information collections were previously published in the Federal Register on November 15, 2023, allowing for a 60-day comment period.
Full Text
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<title>Federal Register, Volume 89 Issue 14 (Monday, January 22, 2024)</title>
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[Federal Register Volume 89, Number 14 (Monday, January 22, 2024)]
[Notices]
[Pages 3923-3925]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-01092]
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FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0085; -0149; -0194]
Agency Information Collection Activities: Proposed Collection
Renewal; Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice and request for comment.
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SUMMARY: The FDIC, as part of its obligations under the Paperwork
Reduction Act of 1995, invites the general public and other Federal
agencies to take this opportunity to comment on the request to renew
the existing information collections described below (OMB Control No.
3064-0085; -0149; -0194). The notices of the proposed renewal for these
information collections were previously published in the Federal
Register on November 15, 2023, allowing for a 60-day comment period.
DATES: Comments must be submitted on or before February 21, 2024.
ADDRESSES: Interested parties are invited to submit written comments to
the FDIC 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>.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#2645494b4b434852556640424f4508414950"><span class="__cf_email__" data-cfemail="e98a8684848c879d9aa98f8d808ac78e869f">[email protected]</span></a>. Include the name and number of
the collection in the subject line of the message.
<bullet> Mail: Manny Cabeza (202-898-3767), Regulatory Counsel, MB-
3128, 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.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular information
collection by selecting ``Currently under 30-day Review--Open for
Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Manny Cabeza, Regulatory Counsel, 202-
898-3767, <a href="/cdn-cgi/l/email-protection#e78a848685829d86a781838e84c9808891"><span class="__cf_email__" data-cfemail="2f424c4e4d4a554e6f494b464c01484059">[email protected]</span></a>, MB-3128, Federal Deposit Insurance
Corporation, 550 17th Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
Proposal to renew the following currently approved collection of
information:
1. Title: Recordkeeping and Disclosure Requirements in Connection
With Regulation B (Equal Credit Opportunity).
OMB Number: 3064-0085.
Affected Public: Insured state nonmember banks and state savings
associations.
Burden Estimate:
Table 1--Summary of Estimated Annual Burden
[OMB No. 3064-0085]
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Type of burden Number of Time per
Information collection (frequency of Number of responses per response Annual burden
(obligation to respond) response) respondents respondent (HH:MM) (hours)
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1. Record Retention Recordkeeping 2,917 1,333 00:03 194,418
(Applications, Actions, Pre- (On Occasion).
Screened Solicitations)
(1002.12) (Mandatory).
2. Record Retention (Self- Recordkeeping 1 1 00:03 0
Testing) (1002.12(b)(6)) (On Occasion).
(Mandatory).
3. Credit Reporting History Reporting 2,917 12 00:01 583
(1002.10) (Mandatory). (Monthly).
4. Demographic Information Reporting 2,917 276 00:01 13,418
Collected for Monitoring (Annual).
Purposes (1002.13 (a) & (b))
(Mandatory).
5. Disclosure for Optional Disclosure (On 1 92 00:02 3
Self-Test (1002.5) Occasion).
(Mandatory).
6. Notification of Action Disclosure (On 2,917 333 00:03 48,568
(1002.9) (Mandatory). Occasion).
7. Appraisal Report Disclosure (On 2,917 276 00:03 40,255
(1002.14(a)(1)) (Mandatory). Occasion).
8. Notice of Right to Disclosure (On 2,917 276 00:01 13,418
Appraisal (1002.14(a)(2)) Occasion).
(Mandatory).
9. Recordkeeping of Credit Recordkeeping 1,612 873 00:10 234,546
Applications from Small (On Occasion).
Businesses (1002.107(a))
(Mandatory).
10. Initial implementation of Recordkeeping 973 1 456:00 443,688
System to Support (One-time).
Requirements in IC 9
(Mandatory).
[[Page 3924]]
11. Record Retention of Small Recordkeeping 1,612 1 00:10 269
Business Lending Data (Annual).
(1002.111) (Mandatory).
12. Reporting Small Business Reporting 639 1 120:00 76,680
Lending Data to CFPB (Annual).
(1002.109) (Mandatory).
13. Initial Implementation Reporting (One- 601 1 40:00 24,040
Activities to Support time).
Requirements in IC 12
(Mandatory).
14. Notice of Disclosure (On 1,612 873 0:01 23,455
Nondiscrimination to Occasion).
Applicants (1002.107)
(Mandatory).
15. Initial implementation Disclosure (One- 973 1 40:00 38,920
Activities for Requirements time).
in IC 14 (Mandatory).
16. ``Firewall'' Exception Disclosure (On 967 873 0:01 14,070
Notification (1002.108) Occasion).
(Required to obtain benefit).
17. Initial Implementation Disclosure (One- 322 1 40:00 12,880
Activities for Requirements time).
in IC 16 (Required to obtain
benefit).
18. Website Disclosure of Disclosure (One- 601 1 8:00 4,808
Small Business Lending Data time).
(1002.110(c ) & (d))
(Mandatory).
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Total Annual Burden ................ .............. .............. .............. 1,184,019
(Hours).
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Source: FDIC.
Note: The annual burden estimate for a given collection is calculated in two steps. First, the total number of
annual responses is calculated as the whole number closest to the product of the annual number of respondents
and the annual number of responses per respondent. Then, the total number of annual responses is multiplied by
the time per response and rounded to the nearest hour to obtain the estimated annual burden for that
collection. This rounding ensures the annual burden hours in the table are consistent with the values recorded
in the OMB's regulatory tracking system.
General Description of Collection: Regulation B (12 CFR part 1002),
issued by the Consumer Financial Protection Bureau (``CFPB''),
prohibits creditors from discriminating against applicants on any bases
specified by the Equal Credit Opportunity Act; imposes reporting,
record keeping and disclosure requirements; establishes guidelines for
gathering and evaluating credit information; and requires creditors to
give applicants certain written notices.
The information collection is being revised to include 10 new
information collection requirements created by subpart B, (sections
1002.101-1002.114),\1\ which addresses lending to small businesses. The
total estimated annual burden for this information collection is
1,184,019 hours, which represents an increase of 734,884 hours relative
to the estimate of 449,135 reported by the OMB in 2021. The increase is
primarily attributable to the inclusion of 10 new information
collections introduced by subpart B, (sections 1002.101-1002.114) of
the final rule issued by the CFPB in May 2023.
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\1\ See the final rule issued by the Consumer Financial
Protection Bureau, ``Small Business Lending Under the Equal Credit
Opportunity Act'' at 88 FR 35150 (May 31, 2023).
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2. Title: Affiliate Marketing/Consumer Opt-out Notices.
OMB Number: 3064-0149.
Forms: None.
Affected Public: Insured state nonmember banks and state savings
associations that have affiliates and consumers that have a
relationship with the foregoing.
Burden Estimate:
Summary of Estimated Annual Burden
[OMB No. 3064-0149]
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Type of burden Number of Time per
Information collection (frequency of Number of responses per response Annual burden
(obligation to respond) response) respondents respondent (HH:MM) (hours)
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Affiliate Marketing Third-Party 8 1 06:00 144
Disclosure--Implementation. Disclosure
(Mandatory). (Annual).
Consumer Opt Out Notices Third-Party 857,027 1 00:05 71,419
(Voluntary). Disclosure
(Annual).
Affiliate Marketing Third-Party 990 1 02:00 1,980
Disclosure--Ongoing Disclosure
(Mandatory). (Annual).
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[[Page 3925]]
Total Annual Burden ................ .............. .............. .............. 73,543
(Hours).
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Source: FDIC.
General Description of Collection: Section 214 of the FACT Act
requires financial institutions that wish to share information about
consumers with their affiliates, to inform such consumers that they
have the opportunity to opt out of such marketing solicitations. The
disclosure notices and consumer responses thereto comprise the elements
of this collection of information. There is no change in the method or
substance of the collection.
3. Title: Covered Financial Company Asset Purchaser Eligibility
Certification.
OMB Number: 3064-0194.
Forms: 7300/10.
Affected Public: Any individual or entity that is a potential
purchaser of assets from (1) the FDIC as receiver for a Covered
Financial Company (CFC); or (2) a bridge financial company (BFC) which
requires the approval of the FDIC, as receiver for the predecessor CFC
and as the sole shareholder of the BFC (e.g., the BFC's sale of a
significant business line).
Burden Estimate:
Summary of Estimated Annual Burden
[OMB No. 3064-0194]
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Type of burden Number of Time per
Information collection (frequency of Number of responses per response Annual burden
(obligation to respond) response) respondents respondent (HH:MM) (hours)
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Covered Financial Company Reporting....... 66 1 02:30 165
Asset Sales Purchaser
Eligibility Certification.
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Total Annual Burden ................ .............. .............. .............. 165
(Hours).
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Source: FDIC.
General Description of Collection: The Covered Financial Company
(CFC) Asset Purchaser Eligibility implements the statutory requirement
that assets held by the FDIC in the course of liquidating any covered
financial company not be sold to persons who contributed in specified
ways to the demise of a covered financial company. The FDIC implemented
this requirement in its regulations at 12 CFR 380.13. Prospective
purchasers are required to complete and submit a Purchaser Eligibility
Certification (PEC) to the FDIC. The PEC is a self-certification by a
prospective purchaser that it does not fall into any of the categories
of individuals or entities that are prohibited by statute or regulation
from purchasing assets of a CFC. The PEC will be required of any
individual or entity that is a potential purchaser of assets from the
FDIC, whether in its corporate capacity or as a conservator or
receiver, for (1) a CFC; or (2) a Bridge Financial Company (BFC).
The FDIC is increasing the total burden associated with this
collection from 5 hours to 165 hours. The estimate for the number of
respondents has increased from 10 to 66. The responses per respondent
is unchanged from the 2021 submission. The estimate for hours per
response represents a 1.5-hour increase from the 2021 submission. This
increase is due to a change in calculation methodology.
Request for Comment
Comments are invited on: (a) Whether the collection of information
is necessary for the proper performance of the FDIC's functions,
including whether the information has practical utility; (b) the
accuracy of the estimates of the burden of the 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; and (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology. All
comments will become a matter of public record.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on January 16, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-01092 Filed 1-19-24; 8:45 am]
BILLING CODE 6714-01-P
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