Notice2024-30447
Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Appraisal Management Companies
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
December 20, 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, "Appraisal Management Companies." The OCC also is giving notice that it has sent the collection to OMB for review.
Full Text
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<title>Federal Register, Volume 89 Issue 245 (Friday, December 20, 2024)</title>
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[Federal Register Volume 89, Number 245 (Friday, December 20, 2024)]
[Notices]
[Pages 104307-104308]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-30447]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Appraisal Management Companies
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,
``Appraisal Management Companies.'' The OCC also is giving notice that
it has sent the collection to OMB for review.
DATES: Comments must be received by January 21, 2025.
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#027270636b6c646d426d61612c76706763712c656d74"><span class="__cf_email__" data-cfemail="3e4e4c5f575058517e515d5d104a4c5b5f4d10595148">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0324, 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
``1557-0324'' 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.
Written comments and recommendations for the proposed information
collection should also 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>. You can find this
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
You may review comments and other related materials that pertain to
this information collection following the close of the 30-day comment
period for this notice 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 ``1557-0324'' or ``Appraisal
Management Companies.'' 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.
The OCC asks the OMB to extend its approval of the collection in this
notice.
Title: Appraisal Management Companies.
OMB Control No.: 1557-0324.
Type of Review: Regular.
Affected Public: Businesses or other for-profit.
Description: This information collection comprises recordkeeping
and disclosure requirements under regulations issued by the OCC,
jointly with the Federal Deposit Insurance Corporation, the Board of
Governors of the Federal Reserve System, the National Credit Union
Administration, the Bureau of Consumer Financial Protection, and the
Federal Home Finance Agency, that implement the minimum requirements in
section 1473 of the Dodd-Frank Wall Street Reform and Consumer
Protection Act (Dodd-Frank Act) to be applied by States in the
registration and supervision of appraisal management companies (AMCs).
The regulations also implement the requirement in section 1473 of the
Dodd-Frank Act for States to report to the Appraisal Subcommittee of
the Federal Financial Institutions Examination Council the information
required by the ASC to administer the new national registry of
appraisal management companies (AMC National Registry or Registry). The
information collection requirements are established in 12 CFR part 34
of the OCC's codified regulations. There is no change in the
methodology or substance of this information collection. The decrease
in total estimated annual burden from 2,455 in 2021 to 1,991 currently
is due to a change in the estimated number or respondents.
Estimated Burden:
[[Page 104308]]
Summary of Estimated Annual Burden (OMB No. 1557-0324)
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Type of burden Number of Time per
Information collection (IC) (frequency of Number of responses per response Annual burden
(obligation to respond) response) respondents respondent (HH:MM) (hours)
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1. Written Notice of Appraiser Disclosure (On 8,481 1 00:05 707
Removal from Network or occasion).
Panel, 12 CFR 34.212(b)
(Mandatory).
2. Develop and Maintain a Recordkeeping 1 1 40:00 40
State Licensing Program, 12 (On occasion).
CFR 34.213(a) and (b)
(Mandatory).
3. AMC Disclosure Requirements Disclosure (On 1,206 1 01:00 1,206
(State regulated AMCs), 12 occasion).
CFR 34.214 (Mandatory).
4. AMC Disclosure Requirements Disclosure (On 38 1 01:00 38
(Federally regulated AMCs), occasion).
12 CFR 34.215(c) (Mandatory).
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Total Annual Burden ................ .............. .............. .............. 1,991
(Hours):.
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Estimated Total Annual Burden: 1,991 hours.
Comments: On October 15, 2024, the OCC published a 60-day notice
for this information collection, (89 FR 83087). No comments were
received.
Comments continue to be 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. 2024-30447 Filed 12-19-24; 8:45 am]
BILLING CODE 4810-33-P
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