Notice2024-02014
Agency Information Collection Activities: Revision of an Approved Collection; Comment Request; Record and Disclosure Requirements-Consumer Financial Protection Bureau Regulations B, E, M, Z, and DD and Board of Governors of the Federal Reserve System Regulation CC
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
February 1, 2024
Issuing agencies
Treasury DepartmentComptroller of the Currency
Abstract
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning a revision to its information collection titled, "Record and Disclosure Requirements--Consumer Financial Protection Bureau Regulations B, E, M, Z, and DD and Board of Governors of the Federal Reserve System Regulation CC."
Full Text
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<title>Federal Register, Volume 89 Issue 22 (Thursday, February 1, 2024)</title>
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[Federal Register Volume 89, Number 22 (Thursday, February 1, 2024)]
[Notices]
[Pages 6566-6568]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-02014]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Revision of an Approved
Collection; Comment Request; Record and Disclosure Requirements--
Consumer Financial Protection Bureau Regulations B, E, M, Z, and DD and
Board of Governors of the Federal Reserve System Regulation CC
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites comment on a continuing information
collection, as required by the Paperwork Reduction Act of 1995 (PRA).
In accordance with the requirements of the PRA, the OCC may not conduct
or sponsor, and the respondent is not required to respond to, an
information collection unless it displays a currently valid Office of
Management and Budget (OMB) control number. The OCC is soliciting
comment concerning a revision to its information collection titled,
``Record and Disclosure Requirements--Consumer Financial Protection
Bureau Regulations B, E, M, Z, and DD and Board of Governors of the
Federal Reserve System Regulation CC.''
DATES: Comments must be received by April 1, 2024.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
<bullet> Email: <a href="/cdn-cgi/l/email-protection#4b3b392a22252d240b242828653f392e2a38652c243d"><span class="__cf_email__" data-cfemail="4d3d3f2c24232b220d222e2e63393f282c3e632a223b">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0176, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
<bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
<bullet> Fax: (571) 293-4835.
Instructions: You must include ``OCC'' as the agency name and
``1557-0176'' in your comment. In general, the OCC will publish
comments on <a href="http://www.reginfo.gov">www.reginfo.gov</a> without change, including any business or
personal information provided, such as name and address information,
email addresses, or phone numbers. Comments received, including
attachments and other supporting materials, are part of the public
record and subject to public
[[Page 6567]]
disclosure. Do not include any information in your comment or
supporting materials that you consider confidential or inappropriate
for public disclosure.
Following the close of this notice's 60-day comment period, the OCC
will publish a second notice with a 30-day comment period. You may
review comments and other related materials that pertain to this
information collection beginning on the date of publication of the
second notice for this collection by the method set forth in the next
bullet.
<bullet> Viewing Comments Electronically: Go to <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
Hover over the ``Information Collection Review'' tab and click on
``Information Collection Review'' from the drop-down menu. From the
``Currently under Review'' drop-down menu, select ``Department of
Treasury'' and then click ``submit.'' This information collection can
be located by searching OMB control number ``1557-0176'' or ``Record
and Disclosure Requirements--Consumer Financial Protection Bureau
Regulations B, E, M, Z, and DD and Board of Governors of the Federal
Reserve System Regulation CC.'' Upon finding the appropriate
information collection, click on the related ``ICR Reference Number.''
On the next screen, select ``View Supporting Statement and Other
Documents'' and then click on the link to any comment listed at the
bottom of the screen.
<bullet> For assistance in navigating <a href="http://www.reginfo.gov">www.reginfo.gov</a>, please
contact the Regulatory Information Service Center at (202) 482-7340.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer,
(202) 649-5490, Chief Counsel's Office, Office of the Comptroller of
the Currency, 400 7th Street SW, Washington, DC 20219. If you are deaf,
hard of hearing, or have a speech disability, please dial 7-1-1 to
access telecommunications relay services.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501 et seq.),
Federal agencies must obtain approval from the OMB for each collection
of information that they conduct or sponsor. ``Collection of
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to
include agency requests or requirements that members of the public
submit reports, keep records, or provide information to a third party.
Section 3506(c)(2)(A) of title 44 generally requires Federal agencies
to provide a 60-day notice in the Federal Register concerning each
proposed collection of information, including each proposed extension
of an existing collection of information, before submitting the
collection to OMB for approval. To comply with this requirement, the
OCC is publishing notice of the revision to the collection of
information set forth in this document. The OCC asks OMB to approve
this revised collection.
Title: Record and Disclosure Requirements--Consumer Financial
Protection Bureau Regulations B, E, M, Z, and DD and Board of Governors
of the Federal Reserve System Regulation CC.
OMB Control No.: 1557-0176.
Type of Review: Regular.
Affected Public: Businesses or other for-profit.
Frequency of Response: On occasion. Description: This information
collection covers Consumer Financial Protection Bureau (CFPB)
Regulations B, E, M, Z, and DD and Board of Governors of the Federal
Reserve System (FRB) Regulation CC. The CFPB and FRB regulations
include the following provisions:
Regulation B--12 CFR 1002--Equal Credit Opportunity Act
This regulation prohibits lenders from discriminating against
credit applicants on certain prohibited bases. The regulation also
requires creditors to--(i) notify applicants of action taken on their
credit application, (ii) report credit history in the names of both
spouses on an account, (iii) retain records of credit applications,
(iv) collect information about the applicant's race and other personal
characteristics in applications for certain dwelling-related loans, and
(v) provide applicants with copies of appraisal reports used in
connection with credit transactions. The regulation was amended to
implement changes to the Equal Credit Opportunity Act (ECOA) made by
section 1071 of the Dodd-Frank Wall Street Reform and Consumer
Protection Act (88 FR 35150). Section 1071 requires covered financial
institutions to collect and report data on applications for credit for
small businesses. The regulation's revision includes additional
information collection requirements that require the compilation and
maintenance of reportable data, including notice requirements and
reporting and recordkeeping requirements for small business lending
data.\1\
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\1\ However, the OCC is not reporting an estimate for burden
associated with the small business lending rule, given that, as the
CFPB has noted, the rule is stayed: ``As a result of ongoing
litigation, all deadlines for compliance with the small business
lending rule currently are stayed for all covered financial
institutions.'' CFPB, Small Business Lending under the Equal Credit
Opportunity Act (Regulation B), available at <a href="https://www.consumerfinance.gov/rules-policy/final-rules/small-business-lending-under-the-equal-credit-opportunity-act-regulation-b/">https://www.consumerfinance.gov/rules-policy/final-rules/small-business-lending-under-the-equal-credit-opportunity-act-regulation-b/</a>.
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Regulation E--12 CFR 1005--Electronic Fund Transfers (Except Prepaid
Card Provisions 1557-0346)
This regulation carries out the purposes of the Electronic Fund
Transfer Act (15 U.S.C. 1693 et seq.), which establishes the basic
rights, liabilities, and responsibilities of consumers who use
electronic fund transfers and remittance transfer services and of
financial institutions or other persons that offer these services.
Regulation M--12 CFR 1013--Consumer Leasing
This regulation implements the consumer leasing provisions of the
Truth in Lending Act, including, among other things, by requiring
meaningful disclosure of leasing terms.
Regulation Z--12 CFR 1026--Truth in Lending
This regulation is intended to promote the informed use of consumer
credit by requiring disclosures about its terms and cost to ensure that
consumers are provided with greater and more timely information on the
nature and costs of the residential real estate settlement process and
to effect certain changes in the settlement process for residential
real estate that will result in more effective advance disclosure to
home buyers and sellers of settlement costs. The regulation gives
consumers the right to cancel certain credit transactions that involve
a lien on a consumer's principal dwelling, regulates certain credit
card practices, and provides a means for fair and timely resolution of
credit billing disputes. Other provisions of the regulation include
rules specific to credit card accounts, certain dwelling-secured
transactions, home-equity plans, and private education loans.
Regulation DD--12 CFR 1030--Truth in Savings
This regulation requires depository institutions to provide
disclosures to enable consumers to make meaningful comparisons among
accounts at depository institutions.
Regulation CC--12 CFR 229--Availability of Funds and Collection of
Checks
This regulation includes timeframes to govern the availability of
funds deposited into certain transaction accounts, rules to govern the
collection and return of checks and electronic checks, and general
provisions to govern the use of substitute checks.
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Burden Estimates:
Estimated Number of Respondents: 1,005.
Estimated Total Annual Burden: 2,661,240 hours.
Comments: Comments submitted in response to this notice will be
summarized and included in the request for OMB approval. All comments
will become a matter of public record. Comments are invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the OCC, including whether the
information has practical utility;
(b) The accuracy of the OCCs estimate of the burden of the
collection of information;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of the collection on respondents,
including through the use of automated collection techniques or other
forms of information technology; and
(e) Estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Patrick T. Tierney,
Assistant Director, Office of the Comptroller of the Currency.
[FR Doc. 2024-02014 Filed 1-31-24; 8:45 am]
BILLING CODE 4810-33-P
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</html>Indexed from Federal Register on February 1, 2024.
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