Proposed Agency Information Collection Activities; Comment Request-Consumer Protections for Depository Sales of Insurance, 19230-19231 [E7-7260]

Agencies

• DEPARTMENT OF THE TREASURY
• Office of Thrift Supervision
• Thrift Supervision Office

[Federal Register Volume 72, Number 73 (Tuesday, April 17, 2007)]
[Notices]
[Pages 19230-19231]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-7260]


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DEPARTMENT OF THE TREASURY

Office of Thrift Supervision


Proposed Agency Information Collection Activities; Comment 
Request--Consumer Protections for Depository Sales of Insurance

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 June 18, 2007.

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 
https://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 Judi McCormick, 
Director, Consumer Protection & Specialty Programs, (202) 906-5636,

[[Page 19231]]

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: Consumer Protections for Depository Sales of 
Insurance.
    OMB Number: 1550-0106.
    Form Number: N/A.
    Regulation requirement: 12 CFR part 536.
    Description: This submission covers an extension of OTS's currently 
approved information collection in its regulation found at 12 CFR part 
536. This submission involves no change to the regulations or to the 
information collections embodied in the regulations.
    The information collections contained in the regulations are as 
follows:
    12 CFR 536.40(a). Savings associations must make insurance 
disclosures in connection with the initial purchase of an insurance 
product. The disclosure must be made orally and in writing to the 
consumer that: (1) The insurance product or annuity is not a deposit or 
other obligation of, or guaranteed by, a savings association or an 
affiliate of a savings association; (2) the insurance product or 
annuity is not insured by the FDIC or any other agency of the United 
States, a savings association, or (if applicable) an affiliate of a 
savings association; and (3) in the case of an insurance product or 
annuity that involves an investment risk, there is investment risk 
associated with the product, including the possible loss of value.
    12 CFR 536.40(b). Savings associations must make a disclosure at 
the time a consumer applies for an extension of credit in connection 
with which an insurance product or annuity is solicited, offered, or 
sold. The disclosure must be made orally and in writing that a savings 
association may not condition an extension of credit on either: (1) the 
consumer's purchase of an insurance product or annuity from a savings 
association or any of its affiliates; or (2) the consumer's agreement 
not to obtain, or a prohibition on the consumer from obtaining, an 
insurance product or annuity from an unaffiliated entity.
    Type of Review: Renewal.
    Affected Public: Businesses or other for-profit; individuals.
    Estimated Number of Respondents: 845.
    Estimated Number of Responses: 841,826.
    Estimated Frequency of Response: On occasion.
    Estimated Total Burden: 21,046 hours.
    Clearance Officer: Marilyn K. Burton, (202) 906-6467, Office of 
Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.

    Dated: April 12, 2007.
Deborah Dakin,
Senior Deputy Chief Counsel, Regulations and Legislation Division.
 [FR Doc. E7-7260 Filed 4-16-07; 8:45 am]
BILLING CODE 6720-01-P