Notice2024-15492
Agency Information Collection Activities: Information Collection Renewal; Comment Request; Community Reinvestment Act Regulation
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
July 16, 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 the renewal of its information collection titled, "Community Reinvestment Act Regulation."
Full Text
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<title>Federal Register, Volume 89 Issue 136 (Tuesday, July 16, 2024)</title>
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[Federal Register Volume 89, Number 136 (Tuesday, July 16, 2024)]
[Notices]
[Pages 57992-57994]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-15492]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Community Reinvestment Act Regulation
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 the renewal of its information collection titled,
``Community Reinvestment Act Regulation.''
DATES: Comments must be received by September 16, 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#79090b1810171f1639161a1a570d0b1c180a571e160f"><span class="__cf_email__" data-cfemail="8ffffdeee6e1e9e0cfe0ececa1fbfdeaeefca1e8e0f9">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0357, 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
``1557-0357'' 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 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 ``1557-0357'' or ``Community
Reinvestment Act Regulation.'' 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
[[Page 57993]]
is publishing notice of the renewal of this collection.
The OMB provided a six-month approval for this information
collection on an emergency basis on April 17, 2024. The OCC is now
seeking to extend OMB approval of the collection for the standard three
years.
Title: Community Reinvestment Act Regulation.
OMB Control No.: 1557-0357.
Type of Review: Regular.
Affected Public: Businesses or other for-profit.
Description: The CRA requires the Office of the Comptroller of the
Currency, the Board of Governors of the Federal Reserve System, and the
Federal Deposit Insurance Corporation (agencies) to assess the record
of regulated financial institutions (institutions) in helping to meet
the credit needs of their entire communities, including low- and
moderate-income neighborhoods, consistent with safe and sound
operations.\1\ The CRA further requires the agencies to take this
record into account in evaluating applications for mergers, branches,
and certain other corporate activities.\2\ The CRA statute requires the
agencies to issue regulations to carry out its purposes.\3\
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\1\ 12 U.S.C. 2903(a)(1).
\2\ See 12 U.S.C. 2903(a)(2).
\3\ 12 U.S.C. 2905.
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The agencies use the data collected under the CRA regulations to
fulfill their statutory obligations, including the assessment of each
institution's record of helping to meet the credit needs of local
communities. The agencies use the data to support their conclusions
regarding an institution's record of performance, in assigning a CRA
rating, and in preparing the public evaluations that the statute
requires. Additionally, the agencies use these CRA assessments in
evaluating an institution's applications for mergers, branches, and
other corporate activities. The public uses the data to assess the
institution's CRA performance and to participate meaningfully in the
application process.
Section-by-Section Analysis
<bullet> 12 CFR 25.25(b)--Requests for designation as a wholesale
or limited purpose bank or savings association must be made in writing
with the OCC at least three months prior to the proposed effective date
of the designation.
<bullet> 12 CFR 25.27--Strategic plans must be submitted at least
three months prior to proposed effective dates. Plans must include
measurable goals and address all the applicable performance categories.
Plans must include a description of informal efforts to solicit public
suggestions, any written public comments received, and if revised
pursuant to public comment, a copy of the initial plan. Amendments may
be submitted in the case of a change in material circumstances.
<bullet> 12 CFR 25.42(a), 12 CFR 25.42(b)(1)--Large banks and
savings associations \4\ must collect and maintain certain small
business/small farm loan data in a machine-readable form and report it
annually.
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\4\ Although the CRA regulations do not define ``large banks and
savings associations,'' this term is used by the agencies to
describe banks and savings associations that exceed the small bank
or savings association asset size threshold in 12 CFR 25.12(u).
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<bullet> 12 CFR 25.42(b)(2)--Large banks and savings associations
must report annually in machine readable form the aggregate number and
aggregate amount of community development loans originated or
purchased.
<bullet> 12 CFR 25.42(b)(3)--Large banks and savings associations,
if subject to reporting under 12 CFR 1003 (Home Mortgage Disclosure
(Regulation C)), must report the location of each home mortgage loan
application, origination, or purchase outside the metropolitan
statistical area(s) in which the bank or savings association has a
home/branch office.
<bullet> 12 CFR 25.42(c)(1), 12 CFR 25.42(c)(2)--All banks and
savings associations may collect and maintain in machine readable form
certain data for consumer loans originated or purchased by a bank or
savings association for consideration under the lending test. Other
information may be included concerning their lending performance,
including additional loan distribution data.
<bullet> 12 CFR 25.42(d)--Banks and savings associations that elect
to have the OCC consider loans by an affiliate, for purposes of the
lending or community development test or an approved strategic plan,
must collect, maintain, and report the data that the bank or savings
association would have collected, maintained, and reported pursuant to
12 CFR 25.42(a)-(c), respectively, had the loans been originated or
purchased by the bank or savings association. For home mortgage loans,
the bank or savings association must also be prepared to identify the
home mortgage loans reported under HMDA by the affiliate.
<bullet> 12 CFR 25.42(e)--Banks and savings associations that elect
to have the OCC consider community development loans by a consortium or
a third party, for purposes of the lending or community development
tests or an approved strategic plan, must report for those loans the
data that the bank or savings association would have reported under 12
CFR 25.42(b)(2), respectively, had the loans been originated or
purchased by the bank or savings association.
<bullet> 12 CFR 25.42(f)--Small banks and savings associations that
qualify for evaluation under the small bank and savings association
performance standards but elect evaluation under the lending,
investment, and service tests must collect, maintain, and report the
data required for other banks or savings associations under 12 CFR
25.42(a) and 25.42(b).
<bullet> 12 CFR 25.42(g)--Banks and savings associations, except
those that were small banks or savings associations during the prior
calendar year, must collect and report to the OCC by March 1 each year
a list for each assessment area showing the geographies within the
area.
<bullet> 12 CFR 25.43(a)--All banks and savings associations must
maintain a public file that contains with certain specified details:
all written comments and responses; a copy of the public section of the
bank's or savings association's most recent CRA performance evaluation;
a list of the bank's or savings association's branches; a list of the
branches opened or closed; a list of services offered; and a map of
each assessment area delineated by the bank or savings association.
<bullet> 12 CFR 25.43(b)--Large banks and savings associations must
include in their public files certain information pertaining to the
institution and its affiliates, if applicable, for each of the prior
two calendar years. If the bank or savings association has elected to
have one or more categories of its consumer loans considered under the
lending test, for each of these categories, they must include the
number and amount of loans: to low-, moderate-, middle-, and upper-
income individuals; located in low-, moderate-, middle-, and upper-
income census tracts; and located inside the bank's assessment area(s)
and outside the bank's or savings association's assessment area(s); and
their CRA Disclosure Statement. A bank or savings association required
to report home mortgage loan data pursuant to 12 CFR part 1003 must
include a written notice that the institution's HMDA Disclosure
Statement may be obtained on the Consumer Financial Protection Bureau's
(Bureau's) website. A bank or savings association that elected to have
the OCC consider the mortgage lending of an affiliate must include the
name of the affiliate and a written notice that the affiliate's HMDA
Disclosure Statement
[[Page 57994]]
may be obtained at the Bureau's website. A small bank or savings
association or a bank or savings association that was a small bank or
savings association during the prior calendar year must include: its
loan-to-deposit ratio for each quarter of the prior calendar year and,
at its option, additional data on its loan-to-deposit ratio; and the
information required for other banks or savings associations by 12 CFR
24.43(b)(1), if it has elected to be evaluated under the lending,
investment, and service tests. A bank or savings association that has
been approved to be assessed under a strategic plan must include in its
public file a copy of that plan. A bank or savings association that
received a less than satisfactory rating during its most recent
examination must include in its public file a description of its
current efforts to improve its performance in helping to meet the
credit needs of its entire community. The bank must update the
description quarterly.
<bullet> 12 CFR 25.43(c)-(e)--A bank or savings association must
make available to the public for inspection upon request and at no cost
the information required in this section at the main office or branch
as specified. Upon request, a bank or savings association must provide
copies, either on paper or in another form acceptable to the person
making the request, of the information in its public file. A bank or
savings association must ensure that this information is current as of
April 1 of each year.
Estimated Burden:
Estimated Frequency of Response: On occasion.
Estimated Number of Respondents: 2,096.
Estimated Total Annual Burden: 141,638 hours.
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 OCC's 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. 2024-15492 Filed 7-15-24; 8:45 am]
BILLING CODE 4810-33-P
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</html>Indexed from Federal Register on July 16, 2024.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.