Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Reverse Mortgage Products: Guidance for Managing Compliance and Reputation Risks, 72673-72674 [2016-25388]
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Federal Register / Vol. 81, No. 203 / Thursday, October 20, 2016 / Notices
mstockstill on DSK3G9T082PROD with NOTICES
Section 48.15 requires a national bank
or Federal savings association to
provide a retail forex customer with 30
days prior notice of any assignment of
any position or transfer of any account
of the retail forex customer. It also
requires a national bank or Federal
savings association to which retail forex
accounts or positions are assigned or
transferred to provide the affected
customers with risk disclosure
statements and forms of
acknowledgment and obtain the signed
acknowledgments within 60 days.
The customer dispute resolution
provisions in § 48.16 require certain
endorsements, acknowledgments, and
signatures. The section also requires
that a national bank or Federal savings
association, within 10 days after receipt
of notice from the retail forex customer
that the customer intends to submit a
claim to arbitration, provide the
customer with a list of persons qualified
in the dispute resolution.
Policies and Procedures;
Recordkeeping
Sections 48.7 and 48.13 require that a
national bank or Federal savings
association engaging in retail forex
transactions keep full, complete, and
systematic records and to establish and
implement internal rules, procedures,
and controls. Section 48.7 also requires
that a national bank or Federal savings
association keep account, financial
ledger, transaction, and daily records, as
well as memorandum orders, postexecution allocation of bunched orders,
records regarding its ratio of profitable
accounts, possible violations of law,
records for noncash margin, and
monthly statements and confirmations.
Section 48.9 requires policies and
procedures for haircuts for noncash
margin collected under the rule’s
margin requirements and annual
evaluations and modifications of the
haircuts.
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
information collection;
(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
VerDate Sep<11>2014
16:40 Oct 19, 2016
Jkt 241001
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.
Dated: October 13, 2016.
Karen Solomon,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2016–25391 Filed 10–19–16; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Submission for OMB Review;
Reverse Mortgage Products: Guidance
for Managing Compliance and
Reputation Risks
AGENCY:
Office of the Comptroller of the
Currency (OCC), Treasury.
ACTION: Notice and request for comment.
SUMMARY:
The OCC, as part of its
continuing effort to reduce paperwork
and respondent burden, invites the
general public and other Federal
agencies to comment on the renewal of
an information collection, as required
by the Paperwork Reduction Act of 1995
(PRA).
An agency may not conduct or
sponsor, and a 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 renewal of its information
collection titled, ‘‘Reverse Mortgage
Products: Guidance for Managing
Compliance and Reputation Risks’’
(Guidance). The OCC also is giving
notice that it has sent the collection to
OMB for review.
DATES: Comments must be received by
November 21, 2016.
ADDRESSES: Because paper mail in the
Washington, DC area and at the OCC is
subject to delay, commenters are
encouraged to submit comments by
email, if possible. Comments may be
sent to: Legislative and Regulatory
Activities Division, Office of the
Comptroller of the Currency, Attention:
1557–0246, 400 7th Street SW., Suite
3E–218, Mail Stop 9W–11, Washington,
DC 20219. In addition, comments may
be sent by fax to (571) 465–4326 or by
electronic mail to prainfo@occ.treas.gov.
You may personally inspect and
PO 00000
Frm 00112
Fmt 4703
Sfmt 4703
72673
photocopy comments at the OCC, 400
7th Street SW., Washington, DC 20219.
For security reasons, the OCC requires
that visitors make an appointment to
inspect comments. You may do so by
calling (202) 649–6700 or, for persons
who are deaf or hard of hearing, TTY,
(202) 649–5597. Upon arrival, visitors
will be required to present valid
government-issued photo identification
and submit to security screening in
order to inspect and photocopy
comments.
All comments received, including
attachments and other supporting
materials, are part of the public record
and subject to public disclosure. Do not
enclose any information in your
comment or supporting materials that
you consider confidential or
inappropriate for public disclosure.
Additionally, please send a copy of
your comments by mail to: OCC Desk
Officer, 1557–0246, U.S. Office of
Management and Budget, 725 17th
Street NW., #10235, Washington, DC
20503 or by email to: oira submission@
omb.eop.gov.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, OCC Clearance
Officer, (202) 649–5490 or, for persons
who are deaf or hard of hearing, TTY,
(202) 649–5597, Legislative and
Regulatory Activities Division, Office of
the Comptroller of the Currency, 400 7th
Street SW., Suite 3E–218, Mail Stop
9W–11, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC
is proposing to extend OMB approval of
the following information collection:
Abstract: On December 16, 2009, the
OCC, FDIC, FRB and NCUA sought
comment on the Guidance,1 which they
issued on August 17, 2010.2 The
Guidance focused on the need to
provide adequate information to
consumers about reverse mortgage
products, to provide qualified
independent counseling to consumers
considering these products, and to avoid
potential conflicts of interest. The
Guidance also addressed related
policies, procedures, internal controls,
and third party risk management.
The information collection
requirements included implementation
of policies and procedures, training, and
program maintenance. These are
outlined below:
• Institutions offering reverse
mortgages should have written policies
and procedures that prohibit the
practice of directing a consumer to a
particular counseling agency or
contacting a counselor on the
consumer’s behalf.
1 74
2 75
FR 66652.
FR 50801.
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mstockstill on DSK3G9T082PROD with NOTICES
72674
Federal Register / Vol. 81, No. 203 / Thursday, October 20, 2016 / Notices
• Policies should be clear so that
originators do not have an inappropriate
incentive to sell other products that
appear linked to the granting of a
mortgage.
• Legal and compliance reviews
should include oversight of
compensation programs so that lending
personnel are not improperly
encouraged to direct consumers to
particular products.
• Training should be designed so that
relevant lending personnel are able to
convey information to consumers about
product terms and risks in a timely,
accurate, and balanced manner.
Title of Information Collection:
Reverse Mortgage Products: Guidance
for Managing Compliance and
Reputation Risks.
OMB Control No.: 1557–0246.
Affected Public: National banks,
Federal savings associations,
subsidiaries of national banks and
Federal savings associations, and
Federal branches or agencies of foreign
banks.
Type of Review: Regular.
Estimated Burden:
Number of respondents: 15.
Burden per respondent: 40 hours to
implement policies and procedures and
to provide training; 8 hours annually to
maintain program.
Total estimated annual burden: 160
hours.
Comments: On July 12, 2016, the OCC
issued a 60-day notice soliciting
comment on the information collection,
81 FR 45221. One comment was
received from an individual.
The commenter stated that the
collection of information is necessary
and vital for the proper performance of
the Federal banking agencies’ functions
and that it has a practical utility. The
commenter believes that, in any
information collection, automated
collection techniques would reduce the
burden of information collection
requirements on the public and the
agencies. The commenter suggested that
requests for information from the public
should include a link to a Web site
where the requested information may be
uploaded. The commenter doesn’t
believe that this would add significant
cost and feels that it would make
providing information less burdensome.
The OCC uses automated collection
techniques whenever possible in its
information collections, including links
where information may be uploaded.
Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the Federal banking
agencies’ functions, including whether
the information has practical utility;
VerDate Sep<11>2014
16:40 Oct 19, 2016
Jkt 241001
(b) The accuracy of the estimates of
the burden of the information
collection, including the validity of the
methodology and assumptions used;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected;
(d) Ways to minimize the burden of
the information 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.
Dated: October 13, 2016.
Karen Solomon,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2016–25388 Filed 10–19–16; 8:45 am]
Bob Faber,
Acting Treasury PRA Clearance Officer.
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Submission for OMB Review;
Comment Request
October 14, 2016.
The Department of the Treasury will
submit the following information
collection request(s) to the Office of
Management and Budget (OMB) for
review and clearance in accordance
with the Paperwork Reduction Act of
1995, Public Law 104–13, on or after the
date of publication of this notice.
DATES: Comments should be received on
or before November 21, 2016 to be
assured of consideration.
ADDRESSES: Send comments regarding
the burden estimates, or any other
aspect of the information collection(s),
including suggestions for reducing the
burden, to (1) Office of Information and
Regulatory Affairs, Office of
Management and Budget, Attention:
Desk Officer for Treasury, New
Executive Office Building, Room 10235,
Washington, DC 20503, or email at
OIRA_Submission@OMB.EOP.gov and
(2) Treasury PRA Clearance Officer,
1750 Pennsylvania Ave. NW., Suite
8142, Washington, DC 20220, or email
at PRA@treasury.gov.
FOR FURTHER INFORMATION CONTACT:
Copies of the submissions may be
obtained by emailing PRA@treasury.gov,
calling (202) 622–0934, or viewing the
entire information collection request at
www.reginfo.gov.
Departmental Offices (DO)
OMB Control Number: 1505–0221.
Type of Review: Extension of a
currently approved collection.
PO 00000
Frm 00113
Fmt 4703
Title: Annual Performance Report and
Certification for Section 1603: Payments
for Specified Renewable Energy
Property in Lieu of Tax Credits.
Abstract: The purpose of the 1603
payment is to reimburse eligible
applicants for a portion of the cost of
installing specified energy property
used in a trade or business or for the
production of income. A 1603 payment
is made after the energy property is
placed in service. Applicants for Section
1603 payments commit in the terms and
conditions that are part of the Treasury
program application to submitting an
annual report for five years from the
date the energy property is placed in
service.
Affected Public: State, Local, and
Tribal Governments.
Estimated Total Annual Burden
Hours: 37,500.
Sfmt 4703
[FR Doc. 2016–25324 Filed 10–19–16; 8:45 am]
BILLING CODE 4810–25–P
DEPARTMENT OF VETERANS
AFFAIRS
Loan Guaranty: Assistance to Eligible
Individuals in Acquiring Specially
Adapted Housing; Cost-ofConstruction Index
AGENCY:
ACTION:
Department of Veterans Affairs.
Notice.
SUMMARY:
The U.S. Department of
Veterans Affairs (VA) announces that
the aggregate amounts of assistance
available under the Specially Adapted
Housing (SAH) grant program will
increase by 4.797 percent for Fiscal Year
(FY) 2017.
FOR FURTHER INFORMATION CONTACT: John
Bell, III, Assistant Director for Loan
Policy and Valuation, Department of
Veterans Affairs, 810 Vermont Avenue
NW., Washington, DC 20420, (202) 632–
8786 (not a toll-free number).
DATES: October 20, 2016.
SUPPLEMENTARY INFORMATION: In
accordance with 38 U.S.C. 2102(e) and
38 U.S.C. 2102A(b)(2) and 38 CFR
36.4411, the Secretary of Veterans
Affairs announces for FY 2017 the
aggregate amounts of assistance
available to veterans and
servicemembers eligible for SAH
program grants.
Public Law 110–289, the Housing and
Economic Recovery Act of 2008,
authorized the Secretary to increase the
aggregate amounts of SAH assistance
annually based on a residential home
cost-of-construction index. Per 38 CFR
E:\FR\FM\20OCN1.SGM
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]]>Agencies
[Federal Register Volume 81, Number 203 (Thursday, October 20, 2016)]
[Notices]
[Pages 72673-72674]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-25388]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Reverse Mortgage Products: Guidance
for Managing Compliance and Reputation Risks
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other Federal
agencies to comment on the renewal of an information collection, as
required by the Paperwork Reduction Act of 1995 (PRA).
An agency may not conduct or sponsor, and a 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 renewal of its information
collection titled, ``Reverse Mortgage Products: Guidance for Managing
Compliance and Reputation Risks'' (Guidance). The OCC also is giving
notice that it has sent the collection to OMB for review.
DATES: Comments must be received by November 21, 2016.
ADDRESSES: Because paper mail in the Washington, DC area and at the OCC
is subject to delay, commenters are encouraged to submit comments by
email, if possible. Comments may be sent to: Legislative and Regulatory
Activities Division, Office of the Comptroller of the Currency,
Attention: 1557-0246, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-
11, Washington, DC 20219. In addition, comments may be sent by fax to
(571) 465-4326 or by electronic mail to prainfo@occ.treas.gov. You may
personally inspect and photocopy comments at the OCC, 400 7th Street
SW., Washington, DC 20219. For security reasons, the OCC requires that
visitors make an appointment to inspect comments. You may do so by
calling (202) 649-6700 or, for persons who are deaf or hard of hearing,
TTY, (202) 649-5597. Upon arrival, visitors will be required to present
valid government-issued photo identification and submit to security
screening in order to inspect and photocopy comments.
All comments received, including attachments and other supporting
materials, are part of the public record and subject to public
disclosure. Do not enclose any information in your comment or
supporting materials that you consider confidential or inappropriate
for public disclosure.
Additionally, please send a copy of your comments by mail to: OCC
Desk Officer, 1557-0246, U.S. Office of Management and Budget, 725 17th
Street NW., #10235, Washington, DC 20503 or by email to: oira
submission@omb.eop.gov.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer, (202) 649-5490 or, for persons who are deaf or hard of
hearing, TTY, (202) 649-5597, Legislative and Regulatory Activities
Division, Office of the Comptroller of the Currency, 400 7th Street
SW., Suite 3E-218, Mail Stop 9W-11, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval
of the following information collection:
Abstract: On December 16, 2009, the OCC, FDIC, FRB and NCUA sought
comment on the Guidance,\1\ which they issued on August 17, 2010.\2\
The Guidance focused on the need to provide adequate information to
consumers about reverse mortgage products, to provide qualified
independent counseling to consumers considering these products, and to
avoid potential conflicts of interest. The Guidance also addressed
related policies, procedures, internal controls, and third party risk
management.
---------------------------------------------------------------------------
\1\ 74 FR 66652.
\2\ 75 FR 50801.
---------------------------------------------------------------------------
The information collection requirements included implementation of
policies and procedures, training, and program maintenance. These are
outlined below:
Institutions offering reverse mortgages should have
written policies and procedures that prohibit the practice of directing
a consumer to a particular counseling agency or contacting a counselor
on the consumer's behalf.
[[Page 72674]]
Policies should be clear so that originators do not have
an inappropriate incentive to sell other products that appear linked to
the granting of a mortgage.
Legal and compliance reviews should include oversight of
compensation programs so that lending personnel are not improperly
encouraged to direct consumers to particular products.
Training should be designed so that relevant lending
personnel are able to convey information to consumers about product
terms and risks in a timely, accurate, and balanced manner.
Title of Information Collection: Reverse Mortgage Products:
Guidance for Managing Compliance and Reputation Risks.
OMB Control No.: 1557-0246.
Affected Public: National banks, Federal savings associations,
subsidiaries of national banks and Federal savings associations, and
Federal branches or agencies of foreign banks.
Type of Review: Regular.
Estimated Burden:
Number of respondents: 15.
Burden per respondent: 40 hours to implement policies and
procedures and to provide training; 8 hours annually to maintain
program.
Total estimated annual burden: 160 hours.
Comments: On July 12, 2016, the OCC issued a 60-day notice
soliciting comment on the information collection, 81 FR 45221. One
comment was received from an individual.
The commenter stated that the collection of information is
necessary and vital for the proper performance of the Federal banking
agencies' functions and that it has a practical utility. The commenter
believes that, in any information collection, automated collection
techniques would reduce the burden of information collection
requirements on the public and the agencies. The commenter suggested
that requests for information from the public should include a link to
a Web site where the requested information may be uploaded. The
commenter doesn't believe that this would add significant cost and
feels that it would make providing information less burdensome.
The OCC uses automated collection techniques whenever possible in
its information collections, including links where information may be
uploaded. Comments are invited on:
(a) Whether the collection of information is necessary for the
proper performance of the Federal banking agencies' functions,
including whether the information has practical utility;
(b) The accuracy of the estimates of the burden of the information
collection, including the validity of the methodology and assumptions
used;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of the information 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.
Dated: October 13, 2016.
Karen Solomon,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2016-25388 Filed 10-19-16; 8:45 am]
BILLING CODE 4810-33-P
