Notice2024-22325
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
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
September 30, 2024
Issuing agencies
Federal Reserve System
Abstract
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Interagency Guidance on Managing Compliance and Reputation Risks for Reverse Mortgage Products (FR 4029; OMB No. 7100-0330).
Full Text
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<title>Federal Register, Volume 89 Issue 189 (Monday, September 30, 2024)</title>
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[Federal Register Volume 89, Number 189 (Monday, September 30, 2024)]
[Notices]
[Page 79591]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-22325]
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board
Approval Under Delegated Authority and Submission to OMB
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
is adopting a proposal to extend for three years, without revision, the
Interagency Guidance on Managing Compliance and Reputation Risks for
Reverse Mortgage Products (FR 4029; OMB No. 7100-0330).
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#1c7269747d327970717d7b746e7d7e755c7a6e7e327b736a"><span class="__cf_email__" data-cfemail="f19f849990df949d9c90969983909398b1978393df969e87">[email protected]</span></a>, (202)
452-3884.
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.
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. Board-approved collections of information are
incorporated into the official OMB inventory of currently approved
collections of information. The OMB inventory, as well as copies of the
PRA Submission, supporting statements (which contain more detailed
information about the information collections and burden estimates than
this notice), and approved collection of information instrument(s) are
available at <a href="https://www.reginfo.gov/public/do/PRAMain">https://www.reginfo.gov/public/do/PRAMain</a>. These documents
are also available on the Federal Reserve 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. On the page displayed at the link above, you can find the
supporting information by referencing the collection identifier, FR
4029.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, Without Revision, of the Following Information Collection
Collection title: Interagency Guidance on Managing Compliance and
Reputation Risks for Reverse Mortgage Products.
Collection identifier: FR 4029.
OMB control number: 7100-0330.
General description of collection: In August 2010, the Federal
Financial Institutions Examination Council FFIEC, on behalf of its
member agencies, published a Federal Register notice adopting
supervisory guidance titled ``Reverse Mortgage Products: Guidance for
Managing Compliance and Reputation Risks.'' The guidance is designed to
assist financial institutions with risk management and efforts to
ensure that their reverse mortgage lending practices adequately address
consumer compliance and reputation risks. The reverse mortgage guidance
discusses the disclosures and recordkeeping required by federal laws
and regulations and also discusses consumer disclosures that financial
institutions typically provide as a standard business practice. Certain
portions of the guidance are information collections subject to PRA
requirements and are what are included in the FR 4029.
Frequency: Event-generated.
Respondents: State member banks, Edge and Agreement corporations,
bank holding companies, savings and loan holding companies, foreign
banking organizations, and branches and agencies of foreign banks.
Total estimated number of respondents: 5.
Total estimated annual burden hours: 72.
Current actions: On March 29, 2024, the Board published a notice in
the Federal Register (89 FR 22148) requesting public comment for 60
days on the extension, without revision, of the FR 4029. The comment
period for this notice expired on May 28, 2024. The Board did not
receive any comments.
Board of Governors of the Federal Reserve System, September 25,
2024.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2024-22325 Filed 9-27-24; 8:45 am]
BILLING CODE 6210-01-P
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