Notice2025-02481
Agency Information Collection Activities: Information Collection Renewal; Comment Request; Covered Savings Associations Notice
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 11, 2025
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, "Covered Savings Associations Notice."
Full Text
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<title>Federal Register, Volume 90 Issue 27 (Tuesday, February 11, 2025)</title>
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[Federal Register Volume 90, Number 27 (Tuesday, February 11, 2025)]
[Notices]
[Pages 9355-9356]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-02481]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Covered Savings Associations Notice
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,
``Covered Savings Associations Notice.''
DATES: Comments must be received by April 14, 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#572725363e3931381738343479232532362479303821"><span class="__cf_email__" data-cfemail="9eeeecfff7f0f8f1def1fdfdb0eaecfbffedb0f9f1e8">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0341, 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
``1557-0341'' 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 ``1557-0341'' or ``Covered
Savings Associations Notice.'' 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 renewal/revision of this collection.
Title: Covered Savings Associations Notice.
OMB Control No.: 1557-0341.
Type of Review: Regular.
Affected Public: Businesses or other for-profit.
Description: The Home Owners' Loan Act (HOLA), as amended by the
Economic Growth, Regulatory Relief, and Consumer Protection Act
(EGRRCPA), allows a Federal savings association (FSA) with total
consolidated assets of $20 billion or less, as of December 31, 2017, to
elect to operate as a covered savings association (CSA). This section
of HOLA requires the OCC to issue rules that, among other things,
establish streamlined standards and procedures for FSA elections to
operate as CSAs and clarify the requirements for the treatment of a
CSA. A CSA has the same rights and privileges as a national bank and is
subject to the same duties and restrictions as a national bank.
Twelve CFR part 101 allows FSAs to elect national bank powers and
operate as CSAs. An FSA seeking to operate as a CSA is required under
12 CFR 101.3(a) to submit a notice making a CSA election to the OCC
that: (1) is signed by a duly authorized officer of the FSA; and (2)
identifies and describes any nonconforming subsidiaries, assets, or
activities that the FSA operates, holds, or conducts at the time it
submits its notice.
Under 12 CFR 101.5(a), the OCC may require a CSA to submit a plan
to divest, conform, or discontinue a nonconforming subsidiary, asset,
or activity.
A CSA may submit a notice to terminate its election to operate as a
CSA under 12 CFR 101.6 using procedures similar to those for an
election. In addition, after a period of five years, an FSA that has
terminated its election to operate as a CSA may submit a notice under
12 CFR 101.7 to
[[Page 9356]]
reelect using the same procedures used for its original election.
Estimated Frequency of Response: On occasion.
Estimated Number of Respondents: 259.
Estimated Total Annual Burden: 284 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. 2025-02481 Filed 2-10-25; 8:45 am]
BILLING CODE 4810-33-P
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</html>Indexed from Federal Register on February 11, 2025.
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