Justia Regulation Tracker

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[Federal Register: September 15, 2009 (Volume 74, Number 177)]
[Notices]               
[Page 47311-47312]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr15se09-151]                         

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DEPARTMENT OF THE TREASURY

Office of Thrift Supervision

 
Proposed Agency Information Collection Activities; Comment 
Request--Privacy of Consumer Financial Information

AGENCY: Office of Thrift Supervision (OTS), Treasury.

ACTION: Notice and request for comment.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to comment on proposed and continuing 
information collections, as required by the Paperwork Reduction Act of 
1995, 44 U.S.C. 3507. The Office of Thrift Supervision within the 
Department of the Treasury will submit the proposed information 
collection requirement described below to the Office of Management and 
Budget (OMB) for review, as required by the Paperwork Reduction Act. 
Today, OTS is soliciting public comments on its proposal to extend this 
information collection.

DATES: Submit written comments on or before November 16, 2009.

ADDRESSES: Send comments, referring to the collection by title of the 
proposal or by OMB approval number, to Information Collection Comments, 
Chief Counsel's Office, Office of Thrift Supervision, 1700 G Street, 
NW., Washington, DC 20552; send a facsimile transmission to (202) 906-
6518; or send an e-mail to infocollection.comments@ots.treas.gov. OTS 
will post comments and the related index on the OTS Internet site at 
http://www.ots.treas.gov. In addition, interested persons may inspect 
comments at the Public Reading Room, 1700 G Street, NW by appointment. 
To make an appointment, call (202) 906-5922, send an e-mail to 
public.info@ots.treas.gov, or send a facsimile transmission to (202) 
906-7755.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
about this proposed information collection from Ekita Mitchell (202) 
906-6451, Office of Thrift Supervision, 1700 G Street, NW., Washington, 
DC 20552.

SUPPLEMENTARY INFORMATION: OTS may not conduct or sponsor an 
information collection, and respondents are not required to respond to 
an information collection, unless the information collection displays a 
currently valid OMB control number. As part of the approval process, we 
invite comments on the following information collection.
    Comments should address one or more of the following points:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the functions of OTS;
    b. The accuracy of OTS's estimate of the burden of the proposed 
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 information collection on 
respondents, including through the use of information technology.
    We will summarize the comments that we receive and include them in 
the OTS request for OMB approval. All comments will become a matter of 
public record. In this notice, OTS is soliciting comments concerning 
the following information collection.
    Title of Proposal: Privacy of Consumer Financial Information.
    OMB Number: 1550-0103.
    Form Numbers: N/A.
    Regulation Requirement: 12 CFR Part 573.
    Description: These information collections are required under 
section 504 of the Gramm-Leach-Bliley Act (Act), Public Law No. 106-
102. Section 502 of the Act prohibits a financial institution from 
disclosing nonpublic personal information about a consumer to 
nonaffiliated third parties unless the institution satisfies various 
disclosure requirements (i.e., provides a privacy notice and opt out 
notice) and the consumer has not elected to opt out of the disclosure. 
Section 504 requires the Office of Thrift Supervision, as well as the 
Office of the Comptroller of the Currency, Board of Governors of the 
Federal Reserve System, Federal Deposit Insurance Corporation, National 
Credit Union Administration, Federal Trade Commission, and Securities 
and Exchange Commission to issue regulations as necessary to implement 
the notice requirements and restrictions.
    Consumers use the privacy notice information to determine whether 
they want personal information disclosed to third parties that are not 
affiliated with the institution. Further, consumers use the opt-out 
notice mechanism to advise the institution of their wishes regarding 
disclosure of their personal information. Institutions use the opt-out 
information to determine the wishes of their consumers and to act 
appropriately.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 68,378.
    Estimated Burden Hours per Responses: 80 hours for de novos and 
acquisitions; 8 hours for institutions; and .5 hours for customers.
    Estimated Frequency of Response: On occasion.
    Estimated Total Burden: 44,543 hours.

[[Page 47312]]

    Dated: September 10, 2009.
Ira L. Mills,
Paperwork Clearance Officer, Office of Thrift Supervision.
[FR Doc. E9-22167 Filed 9-14-09; 8:45 am]

BILLING CODE 6720-01-P

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