Notice of Proposals to Engage in or to Acquire Companies Engaged in Permissible Nonbanking Activities, 25292 [2015-10344]

Download as PDF 25292 Federal Register / Vol. 80, No. 85 / Monday, May 4, 2015 / Notices FEDERAL RESERVE SYSTEM Notice of Proposals to Engage in or to Acquire Companies Engaged in Permissible Nonbanking Activities The companies listed in this notice have given notice under section 4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and Regulation Y, (12 CFR part 225) to engage de novo, or to acquire or control voting securities or assets of a company, including the companies listed below, that engages either directly or through a subsidiary or other company, in a nonbanking activity that is listed in 225.28 of Regulation Y (12 CFR 225.28) or that the Board has determined by Order to be closely related to banking and permissible for bank holding companies. Unless otherwise noted, these activities will be conducted throughout the United States. Each notice is available for inspection at the Federal Reserve Bank indicated. The notice also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the question whether the proposal complies with the standards of section 4 of the BHC Act. Unless otherwise noted, comments regarding the notices must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than May 19, 2015. A. Federal Reserve Bank of Richmond (Adam M. Drimer, Assistant Vice President) 701 East Byrd Street, Richmond, Virginia 23261–4528: 1. Independence Bancshares, Inc., Greenville, South Carolina; to acquire MPIB Holdings, LLC, Darien, Connecticut, and thereby engage in data processing activities, pursuant to section 225.28(b)(14)(i). Board of Governors of the Federal Reserve System, April 29, 2015. Michael J. Lewandowski, Associate Secretary of the Board. [FR Doc. 2015–10344 Filed 5–1–15; 8:45 am] BILLING CODE 6210–01–P mstockstill on DSK4VPTVN1PROD with NOTICES FEDERAL RESERVE SYSTEM Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB Board of Governors of the Federal Reserve System. SUMMARY: Notice is hereby given of the final approval of proposed information collections by the Board of Governors of the Federal Reserve System (Board) under OMB delegated authority. BoardAGENCY: VerDate Sep<11>2014 19:40 May 01, 2015 Jkt 235001 approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the Paperwork Reduction Act Submission, supporting statements and approved collection of information instrument(s) are placed into OMB’s public docket files. The Federal Reserve may not conduct or sponsor, and the respondent is not required to respond to, an information collection that has been extended, revised, or implemented on or after October 1, 1995, unless it displays a currently valid OMB control number. FOR FURTHER INFORMATION CONTACT: Federal Reserve Board, Acting Clearance Officer—Mark Tokarski— Office of the Chief Data Officer, Board of Governors of the Federal Reserve System, Washington, DC 20551, (202) 452–3829. Telecommunications Device for the Deaf (TDD) users may contact (202) 263–4869, Board of Governors of the Federal Reserve System, Washington, DC 20551. OMB Desk Officer—Shagufta Ahmed—Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW., Washington, DC 20503. SUPPLEMENTARY INFORMATION: Final approval under OMB delegated authority of the extension for three years, without revision, of the following report: Report title: Recordkeeping Requirements Associated with Real Estate Appraisal Standards for Federally Related Transactions Pursuant to Regulations H and Y. Agency form number: FR H–4. OMB control number: 7100–0250. Frequency: Event-generated. Reporters: State member banks (SMBs) and nonbank subsidiaries of bank holding companies (BHCs). Estimated annual reporting hours: SMBs, 31,820 hours; nonbank subsidiaries of BHCs, 11,813 hours. Estimated average hours per response: SMBs, 0.25; nonbank subsidiaries of BHCs, 0.25. Number of respondents: SMBs, 860; nonbank subsidiaries of BHCs, 613. General description of report: The recordkeeping requirements of this information collection are mandatory (12 U.S.C. 3339). Since the Federal Reserve does not collect this information, confidentiality is not generally an issue. However, if the Federal Reserve were to collect a copy of the appraisal report during an examination, the documents could be exempt from disclosure under FOIA (5 U.S.C 552(b)(4) and (b)(8)). PO 00000 Frm 00019 Fmt 4703 Sfmt 4703 Abstract: For federally related transactions, Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) requires SMBs and BHCs with creditextending nonbank subsidiaries to use appraisals prepared in accordance with the Uniform Standards of Professional Appraisal Practice promulgated by the Appraisal Standards Board of the Appraisal Foundation. Generally, these standards include the methods and techniques used to analyze a property as well as the requirements for reporting such analysis and a value conclusion in the appraisal. SMBs and BHCs with credit-extending nonbank subsidiaries are expected to maintain records that demonstrate that appraisals used in their real estate-related lending activities comply with these regulatory requirements. There is no formal reporting form. Current Actions: On February 12, 2015, the Federal Reserve published a notice in the Federal Register (80 FR 7866) requesting public comment for 60 days on the extension, without revision, of the FR H–4. The comment period for this notice expired on April 13, 2015. The Federal Reserve did not receive any comments. The information collection will be extended for three years, without revision, as proposed. Final approval, under OMB delegated authority to implement the following information collection: Report title: Federal Reserve Board Public Web Site Usability Survey. Agency form number: FR 3076. OMB control number: 7100—to be assigned. Frequency: On occasion. Reporters: Consumers, media, economists, financial institutions, nonprofits, community development organizations, consumer groups, state or local agencies, and researchers from academic, government, policy and other institutions. Estimated annual reporting hours: Surveys, 300 hours; and Focus Groups, 120 hours. Estimated average hours per response: Surveys, 0.25 hours; and Focus Groups, 1.50 hours. Number of respondents: Surveys, 100; and Focus Groups, 20. General description of report: This information collection is generally authorized under section 2B of the Federal Reserve Act, as amended, that requires the Board to provide certain reports, audits, and other information that ‘‘the Board reasonably believes is necessary or helpful to the public in understating the accounting, financial reporting, and internal controls of the Board and the Federal reserve banks’’ E:\FR\FM\04MYN1.SGM 04MYN1

Agencies

FEDERAL RESERVE SYSTEM

[Federal Register Volume 80, Number 85 (Monday, May 4, 2015)]
[Notices]
[Page 25292]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-10344]



[[Page 25292]]

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FEDERAL RESERVE SYSTEM


Notice of Proposals to Engage in or to Acquire Companies Engaged 
in Permissible Nonbanking Activities

    The companies listed in this notice have given notice under section 
4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and 
Regulation Y, (12 CFR part 225) to engage de novo, or to acquire or 
control voting securities or assets of a company, including the 
companies listed below, that engages either directly or through a 
subsidiary or other company, in a nonbanking activity that is listed in 
225.28 of Regulation Y (12 CFR 225.28) or that the Board has determined 
by Order to be closely related to banking and permissible for bank 
holding companies. Unless otherwise noted, these activities will be 
conducted throughout the United States.
    Each notice is available for inspection at the Federal Reserve Bank 
indicated. The notice also will be available for inspection at the 
offices of the Board of Governors. Interested persons may express their 
views in writing on the question whether the proposal complies with the 
standards of section 4 of the BHC Act.
    Unless otherwise noted, comments regarding the notices must be 
received at the Reserve Bank indicated or the offices of the Board of 
Governors not later than May 19, 2015.
    A. Federal Reserve Bank of Richmond (Adam M. Drimer, Assistant Vice 
President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. Independence Bancshares, Inc., Greenville, South Carolina; to 
acquire MPIB Holdings, LLC, Darien, Connecticut, and thereby engage in 
data processing activities, pursuant to section 225.28(b)(14)(i).

    Board of Governors of the Federal Reserve System, April 29, 
2015.
Michael J. Lewandowski,
Associate Secretary of the Board.
[FR Doc. 2015-10344 Filed 5-1-15; 8:45 am]
 BILLING CODE 6210-01-P

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