Notice2025-07267
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
April 28, 2025
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 Recordkeeping and Disclosure Requirements Associated with Regulation II (FR II; OMB No. 7100-0349).
Full Text
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<title>Federal Register, Volume 90 Issue 80 (Monday, April 28, 2025)</title>
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[Federal Register Volume 90, Number 80 (Monday, April 28, 2025)]
[Notices]
[Pages 17598-17599]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-07267]
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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
Recordkeeping and Disclosure Requirements Associated with Regulation II
(FR II; OMB No. 7100-0349).
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#afc1dac7ce81cac3c2cec8c7ddcecdc6efc9ddcd81c8c0d9"><span class="__cf_email__" data-cfemail="deb0abb6bff0bbb2b3bfb9b6acbfbcb79eb8acbcf0b9b1a8">[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/review">https://www.federalreserve.gov/apps/reportingforms/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 II.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, Without Revision, of the Following Information Collection
Collection title: Recordkeeping and Disclosure Requirements
Associated with Regulation II.
Collection identifier: FR II.
OMB control number: 7100-0349.
General description of collection: The FR II requires both
recordkeeping and disclosure requirements. Certain debit card issuers
are required to develop and implement, and at least annually review and
update, certain fraud-prevention policies and procedures to be eligible
to receive the fraud-prevention adjustment. In addition, the rule
requires such a debit card issuer to annually notify its payment card
networks that it is eligible to receive the fraud-prevention
adjustment, and to notify its payment card networks when
[[Page 17599]]
it is no longer eligible to receive the fraud-prevention adjustment.
Finally, Regulation II requires all debit card issuers and, in some
situations, payment card networks to retain evidence of compliance with
the requirements in Regulation II for a prescribed period of time.
Frequency: Annual; Event-generated.
Respondents: Debit card issuers and payment card networks.
Total estimated number of respondents: 534.
Total estimated annual burden hours: 22,251.
Current actions: On January 13, 2025, the Board published a notice
in the Federal Register (90 FR 2700) requesting public comment for 60
days on the extension, without revision, of the FR II. The comment
period for this notice expired on March 14, 2025. The Board received
one comment. The comment was in support of the extension of the FII as
proposed.
Board of Governors of the Federal Reserve System, April 23,
2025.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2025-07267 Filed 4-25-25; 8:45 am]
BILLING CODE 6210-01-P
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