Notice2026-06904
Privacy Act of 1974; System of Records
Primary source
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Published
April 10, 2026
Effective
April 10, 2026
Issuing agencies
Federal Deposit Insurance Corporation
Abstract
In accordance with the Privacy Act of 1974, as amended, the Federal Deposit Insurance Corporation (FDIC) is modifying an existing system of records titled FDIC-004, "Changes in Financial Institution Control Ownership Records." The information in this system of records is used in support of the FDIC's regulatory and supervisory functions. This modified system of records notice combines FDIC-004 with FDIC-008, "Chain Banking Organizations Identification Records" and rescinds FDIC-008. The FDIC is updating this system of records to retitle it as "Financial Institution Ownership Records," to modify several sections of this notice, and to seek public comment on four proposed routine uses. Additionally, this notice includes non-substantive changes to simplify the formatting and text of the previously published notice and improve consistency across system of records notices.
Full Text
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<title>Federal Register, Volume 91 Issue 69 (Friday, April 10, 2026)</title>
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[Federal Register Volume 91, Number 69 (Friday, April 10, 2026)]
[Notices]
[Pages 18456-18459]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-06904]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Privacy Act of 1974; System of Records
AGENCY: Federal Deposit Insurance Corporation.
ACTION: Notice of a modified system of records.
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SUMMARY: In accordance with the Privacy Act of 1974, as amended, the
Federal Deposit Insurance Corporation (FDIC) is modifying an existing
system of records titled FDIC-004, ``Changes in Financial Institution
Control Ownership Records.'' The information in this system of records
is used in support of the FDIC's regulatory and supervisory functions.
This modified system of records notice combines FDIC-004 with FDIC-008,
``Chain Banking Organizations Identification Records'' and rescinds
FDIC-008. The FDIC is updating this system of records to retitle it as
``Financial Institution Ownership Records,'' to modify several sections
of this notice, and to seek public comment on four proposed routine
uses. Additionally, this notice includes non-substantive changes to
simplify the formatting and text of the previously published notice and
improve consistency across system of records notices.
DATES: This action will become effective on April 10, 2026. The routine
uses in this action will become effective May 11, 2026, unless the FDIC
makes changes based on comments received. Written comments should be
submitted on or before May 11, 2026.
ADDRESSES: Interested parties are invited to submit written comments
identified by Privacy Act Systems of Records (FDIC-004) by any of the
following methods:
<bullet> Agency Website: <a href="https://www.fdic.gov/resources/regulations/federal-register-publications/">https://www.fdic.gov/resources/regulations/federal-register-publications/</a>. Follow the instructions for
submitting comments on the FDIC website.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#294a4644444c475d5a694f4d404a074e465f"><span class="__cf_email__" data-cfemail="32515d5f5f575c46417254565b511c555d44">[email protected]</span></a>. Include ``Comments-SORN (FDIC-
004)'' in the subject line of communication.
<bullet> Mail: Jennifer M. Jones, Deputy Executive Secretary,
Attention: Comments SORN (FDIC-004), Legal Division, Office of the
Executive
[[Page 18457]]
Secretary, Federal Deposit Insurance Corporation, 550 17th Street NW,
Washington, DC 20429.
<bullet> Hand Delivery/Courier: Comments may be hand-delivered to
the guard station at the rear of the 550 17th Street NW building
(located on F Street NW) on business days between 7:00 a.m. and 5:00
p.m.
Public Inspection: Comments received, including any personal
information provided, may be posted without change to <a href="https://www.fdic.gov/resources/regulations/federal-register-publications/">https://www.fdic.gov/resources/regulations/federal-register-publications/</a>.
Commenters should submit only information that the commenter wishes to
make available publicly. The FDIC may review, redact, or refrain from
posting all or any portion of any comment that it may deem to be
inappropriate for publication, such as irrelevant or obscene material.
The FDIC may post only a single representative example of identical or
substantially identical comments and in such cases will generally
identify the number of identical or substantially identical comments
represented by the posted example. All comments that have been
redacted, as well as those that have not been posted, that contain
comments on the merits of this document will be retained in the public
comment file and will be considered as required under all applicable
laws. All comments may be accessible under the Freedom of Information
Act (FOIA).
FOR FURTHER INFORMATION CONTACT: Shannon Dahn, Assistant Director,
Privacy, 703-516-5500, <a href="/cdn-cgi/l/email-protection#6e1e1c07180f0d172e080a070d40090118"><span class="__cf_email__" data-cfemail="09797b607f686a70496f6d606a276e667f">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: Pursuant to the Privacy Act of 1974, 5
U.S.C. 552a, FDIC is modifying an existing system of records, FDIC-004,
``Changes in Financial Institution Control Ownership Records.'' This
modification combines and renames two existing systems of records
notices (SORNs), FDIC-004, ``Changes in Financial Institution Control
Ownership Records'' and FDIC-008, ``Chain Banking Organizations
Identification Records'' into a single SORN titled FDIC-004,
``Financial Institution Ownership Records'' and rescinds FDIC-008. Both
systems of records rely on the same authority, cover the same
individuals, and have similar purposes of tracking ownership of
financial institutions. As modified, FDIC-004 maintains information
about (1) individuals who acquire or dispose of ownership stakes in a
FDIC-insured financial institution and (2) individuals who have
ownership stakes in more than one financial institution or bank holding
companies which, due to their common ownership, present a concentration
of resources that could be susceptible to common risks. The FDIC uses
information in this system of records to support its regulatory and
supervisory functions.
In this notice, the FDIC proposes to update various sections of the
SORN to, among other things, cover all individuals who have ownership
stakes in financial institutions. The System Title section is being
updated to better reflect the types of records covered. The System
Location section is updated to reflect that the records may be
maintained at various FDIC locations including authorized cloud
environments. The Purpose(s) of the System section is being modified to
combine the purposes of FDIC-004 and FDIC-008 and to clarify existing
language.
The Routine Uses section is being renumbered and modified to list
FDIC's standard routine uses (routine uses 1-10) first and to propose
four new routine uses. Proposed standard Routine Use 2 supports
disclosures as it relates to litigation. Proposed standard routine use
8 supports the disclosure of information from the system of records as
may be required by Federal statute or treaty. Proposed standard routine
use 9 supports the disclosure of information as may be needed to
support the comparison of FDIC's records to another agency's system of
records or to non-Federal records, in coordination with an Office of
Inspector General in conducting an audit, investigation, inspection,
evaluation, or other review. Proposed routine use 11 will permit
sharing with other Federal or State financial institution supervisory
authorities.
The FDIC is modifying the Policies and Practices for Storage, and
Retention and Disposal sections to provide detail on the storage of
electronic records and to include language on the disposal of records
in accordance with approved FDIC record retention schedules. The FDIC
is also modifying the Administrative, Technical, and Physical
Safeguards section to provide additional detail on the safeguards used
to protect this information. The FDIC is also modifying the sections
containing the Procedures for Notification, Access, Contesting Records
to improve the clarity of the instructions to the public and to direct
the public to the appropriate FDIC website for information on how to
request notification of, access to, or to contest the contents of
records in FDIC-004.
This modified system will be included in FDIC's inventory of record
systems.
SYSTEM NAME AND NUMBER:
Financial Institution Ownership Records, FDIC-004.
SECURITY CLASSIFICATION:
Unclassified.
SYSTEM LOCATION:
The Federal Deposit Insurance Corporation (FDIC) located at 550
17th Street NW, Washington, DC 20429, and other FDIC office locations.
Information may also be stored within an appropriately authorized cloud
environments or in other secure locations.
SYSTEM MANAGER(S):
Chief, Risk Management Applications, Division of Risk Management
Supervision, FDIC, 550 17th Street NW, Washington, DC 20429.
AUTHORITY FOR MAINTENANCE OF THE SYSTEM:
Sections 7(j) and 9 of the Federal Deposit Insurance Act (12 U.S.C.
1817(j) and 1819).
PURPOSE(S) OF THE SYSTEM:
This system:
(1) collects, tracks, and assesses information about individuals
who have direct or indirect ownership stakes in an FDIC-insured
financial institution, and
(2) tracks ownership of possible linked financial institutions and
bank holding companies which present a concentration of resources that
could be susceptible to common risks, otherwise known as chain banking.
Chain banking organizations generally involve a group of financial
institutions or holding companies that are controlled by one individual
or company. The FDIC is responsible for maintaining a record system for
chain banking organizations and for developing an overall supervisory
strategy for these organizations. The information in this system is
used to support the FDIC's regulatory and supervisory functions.
CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM:
(1) Individuals who acquire or dispose of voting stock in an FDIC-
insured financial institution; and
(2) Individuals who directly, indirectly, or in concert with
others, own or control two or more financial institutions and bank
holding companies.
CATEGORIES OF RECORDS IN THE SYSTEM:
For individuals identified in the paragraph (1) above, records
include the name of the individual who is the proposed acquirer and
their statement of assets and liabilities; statement of income and
sources of income; name
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and location of the financial institution; number of shares to be
acquired and outstanding; dates ownership forms were filed; name and
location of the newspaper in which the notice was published and date of
publication. For disposal transactions, names of sellers/transferors;
names of purchasers/transferees and number of shares owned after
transaction; date of transaction on financial institution's books,
number of shares acquired and outstanding. If stock of a bank holding
company is involved, the name and location of the bank holding company
and the institution(s) it controls.
For individuals identified in the paragraph (2) above, records
include the names of and contact information for individuals who,
either alone or in concert with others, own or control two or more
financial institutions, the names of those financial institutions,
locations, stock certificate numbers, total asset size, and percentage
of outstanding stock owned by the controlling individual or group of
individuals; charter types and, if applicable, name of intermediate
bank holding entity and percentage of bank holding company held by
controlling individual or group.
RECORD SOURCE CATEGORIES:
Information contained in this system is obtained from individuals
listed in the Categories of Individuals; the financial institution or
bank holding company in which control changed; filed ownership forms;
federal and state financial institution supervisory authorities;
examination reports and related materials; and regulatory filings.
ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES
OF USERS AND PURPOSES OF SUCH USES:
In addition to those disclosures generally permitted under 5 U.S.C.
552a(b) of the Privacy Act, all or a portion of the records or
information contained in this system may be disclosed outside the FDIC
as a routine use as follows:
(1) To appropriate Federal, State, local, tribal, territorial, and
foreign agencies responsible for investigating or prosecuting a
violation of, or for enforcing or implementing a statute, rule,
regulation, or order issued, when the information, either alone or in
conjunction with other information, indicates a violation or potential
violation of law, whether civil, criminal, or regulatory in nature, and
whether arising by general statute or particular program statute, or by
regulation, rule, or order issued pursuant thereto.
(2) To a court or adjudicative body before which the FDIC is
authorized to appear when, (a) the FDIC or any component thereof; or
(b) any employee of the FDIC in his or her official capacity; or (c)
any employee of the FDIC in his or her individual capacity where the
FDIC has agreed to represent the employee; or (d) the United States;
where the FDIC determines that litigation is likely to affect the FDIC
or any of its components, is a party to litigation or has an interest
in such litigation, and the FDIC determines that use of such records is
relevant and necessary to the litigation, provided, however, that in
each case, the FDIC determines that disclosure of the records is a use
of the information contained in the records which is compatible with
the purpose for which the records were collected.
(3) To a congressional office in response to an inquiry made by the
congressional office at the request of the individual who is the
subject of the record.
(4) To appropriate agencies, entities, and persons when (a) the
FDIC suspects or has confirmed that there has been a breach of the
system of records; (b) the FDIC has determined that as a result of the
suspected or confirmed breach there is a risk of harm to individuals,
the FDIC (including its information systems, programs, and operations),
the Federal Government, or national security; and (c) the disclosure
made to such agencies, entities, and persons is reasonably necessary to
assist in connection with the FDIC's efforts to respond to the
suspected or confirmed breach or to prevent, minimize, or remedy such
harm.
(5) To another Federal agency or Federal entity when the FDIC
determines that information from this system of records is reasonably
necessary to assist the recipient agency or entity in (a) responding to
a suspected or confirmed breach; or (b) preventing, minimizing, or
remedying the risk of harm to individuals, the recipient agency or
entity (including its information systems, programs, and operations),
the Federal Government, or national security, resulting from a
suspected or confirmed breach.
(6) To appropriate Federal, State, local, tribal, and territorial
agencies in connection with hiring or retaining an individual;
conducting a background security or suitability investigation;
adjudication of liability; or eligibility for a license, contract,
grant, or other benefit, to the extent that the information shared is
relevant and necessary to the requesting agency's decision on the
matter.
(7) To contractors, grantees, experts, consultants, students,
volunteers, and others performing or working on a contract, service,
grant, cooperative agreement, or project for the FDIC or the Office of
Inspector General for use in carrying out their obligations under such
contract, grant, agreement or project.
(8) To such recipients and under such circumstances and procedures
as are mandated by Federal statute or treaty.
(9) To a Federal, State, local, tribal, or territorial agency for
the purpose of comparing to the agency's system of records or to non-
Federal records, in coordination with an Office of Inspector General in
conducting an audit, investigation, inspection, evaluation, or other
review as authorized by the Inspector General Act of 1978, as amended.
(10) To Federal agencies, and to those Federal employees designated
by the President or Agency Heads pursuant to Executive Order 14243, for
the purposes of identifying and eliminating waste, fraud, and abuse,
including the elimination of bureaucratic duplication and inefficiency
and the enhancement of the Government's ability to detect overpayments
and fraud.
(11) To other Federal or State financial institution supervisory
authorities for: (a) coordination of examining resources when the chain
banking organization is composed of financial institutions subject to
multiple supervisory jurisdictions; (b) coordination of evaluations and
analysis of the condition of the consolidated chain organization; and
(c) coordination of supervisory, corrective or enforcement actions.
POLICIES AND PRACTICES FOR STORAGE OF RECORDS:
Records are stored electronically or in paper format in secure
facilities. Electronic records may be stored locally on digital media,
in FDIC-owned cloud environments, or in vendor cloud service offerings
that are appropriately authorized and/or certified.
POLICIES AND PRACTICES FOR RETRIEVAL OF RECORDS:
Records are retrieved by: Individual name or Financial Institution
POLICIES AND PRACTICES FOR RETENTION AND DISPOSAL OF RECORDS:
Financial institution ownership records are maintained for 10 years
and then dispositioned in accordance with approved records retention
schedules.
ADMINISTRATIVE, TECHNICAL, AND PHYSICAL SAFEGUARDS:
Records are protected from unauthorized access and improper use
through administrative, technical, and
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physical security measures. Administrative safeguards include written
guidelines on handling personal information including agency-wide
procedures for safeguarding personally identifiable information. In
addition, all FDIC staff are required to take annual privacy and
security training. Technical security measures within FDIC include
restrictions on computer access to authorized individuals who have a
legitimate need to know the information; multi-factor authentication
for remote access and access to many FDIC systems; strong passwords
when multi-factor authentication is not available; use of encryption
for certain data types and transfers; firewalls and intrusion detection
applications; and regular review of security procedures and best
practices to enhance security. Physical safeguards include restrictions
on building access to authorized individuals, security guard service,
and maintenance of records in lockable offices and filing cabinets.
RECORD ACCESS PROCEDURES:
Individuals requesting access to records about them in this system
of records should submit their request online through the FDIC FOIA
Service Center at <a href="http://fdic.gov/foia">fdic.gov/foia</a>. Alternatively, individuals can send a
request in writing to the FDIC FOIA & Privacy Act Group, 550 17th
Street NW, Washington, DC 20429, or email <a href="/cdn-cgi/l/email-protection#5530333a3c341533313c367b323a23"><span class="__cf_email__" data-cfemail="583d3e373139183e3c313b763f372e">[email protected]</span></a>. Individuals
will be required to provide a detailed description of the records they
seek including time period when the records were created and other
supporting information where possible. Individuals will be required to
provide proof of identity in accordance with FDIC regulations at 12 CFR
part 310.
CONTESTING RECORD PROCEDURES:
Individuals contesting the content of or requesting an amendment to
their records in this system of records should submit their request
online through the FDIC FOIA Service Center at <a href="http://fdic.gov/foia">fdic.gov/foia</a>.
Alternatively, individuals can send a request in writing to the FDIC
FOIA & Privacy Act Group, 550 17th Street NW, Washington, DC 20429, or
email <a href="/cdn-cgi/l/email-protection#187d7e777179587e7c717b367f776e"><span class="__cf_email__" data-cfemail="cbaeada4a2aa8badafa2a8e5aca4bd">[email protected]</span></a>. The request should contain the individual's
reason for requesting the amendment and a description of the record
(including the name of the appropriate designated system and category
thereof) sufficient to enable the FDIC to identify the particular
record or portion thereof with respect to which amendment is sought.
Requests must specify which information is being contested, the reasons
for contesting it, and the proposed amendment to such information in
accordance with FDIC regulations at 12 CFR part 310. Individuals will
be required to provide proof of identity in accordance with FDIC
regulations at 12 CFR part 310.
NOTIFICATION PROCEDURES:
Individuals seeking to know whether this system contains
information about them should submit their request online through the
FDIC FOIA Service Center at <a href="http://fdic.gov/foia">fdic.gov/foia</a>. Alternatively, individuals
can send a request in writing to the FDIC FOIA & Privacy Act Group, 550
17th Street NW, Washington, DC 20429, or email <a href="/cdn-cgi/l/email-protection#791c1f161018391f1d101a571e160f"><span class="__cf_email__" data-cfemail="afcac9c0c6ceefc9cbc6cc81c8c0d9">[email protected]</span></a>.
Individuals will be required to provide proof of identity in accordance
with FDIC regulations at 12 CFR part 310.
EXEMPTIONS PROMULGATED FOR THE SYSTEM:
None.
HISTORY:
90 FR 51316 (Nov 17, 2025)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on April 7, 2026.
Jennifer M. Jones,
Deputy Executive Secretary.
[FR Doc. 2026-06904 Filed 4-9-26; 8:45 am]
BILLING CODE 6714-01-P
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