Agency Information Collection Activities: Submission for OMB Review; Comment Request; 3064-0121, 46225-46226 [E7-16215]

Download as PDF Federal Register / Vol. 72, No. 159 / Friday, August 17, 2007 / Notices B. How and To Whom Do I Submit Comments? You may submit comments as provided in the ADDRESSES section. Please ensure that your comments are submitted within the specified comment period. Comments received after the close of the comment period will be marked ‘‘late.’’ EPA is not required to consider these late comments. If you submit an electronic comment, EPA recommends that you include your name, mailing address, and an e-mail address or other contact information in the body of your comment and with any disk or CD ROM you submit. This ensures that you can be identified as the submitter of the comment and allows EPA to contact you in case EPA cannot read your comment due to technical difficulties or needs further information on the substance of your comment. Any identifying or contact information provided in the body of a comment will be included as part of the comment that is placed in the official public docket, and made available in EPA’s electronic public docket. If EPA cannot read your comment due to technical difficulties and cannot contact you for clarification, EPA may not be able to consider your comment. Use of the www.regulations.gov Web site to submit comments to EPA electronically is EPA’s preferred method for receiving comments. The electronic public docket system is an ‘‘anonymous access’’ system, which means EPA will not know your identity, e-mail address, or other contact information unless you provide it in the body of your comment. In contrast to EPA’s electronic public docket, EPA’s electronic mail (e-mail) system is not an ‘‘anonymous access’’ system. If you send an e-mail comment directly to the Docket without going through www.regulations.gov, your email address is automatically captured and included as part of the comment that is placed in the official public docket and made available in EPA’s electronic public docket. Dated: August 9, 2007. Richard B. Ossias, Associate General Counsel. [FR Doc. E7–16254 Filed 8–16–07; 8:45 am] BILLING CODE 6560–50–P ebenthall on PRODPC61 with NOTICES FEDERAL DEPOSIT INSURANCE CORPORATION Agency Information Collection Activities: Submission for OMB Review; Comment Request; 3064–0121 Federal Deposit Insurance Corporation (FDIC). AGENCY: VerDate Aug<31>2005 15:36 Aug 16, 2007 Jkt 211001 Notice of information collections to be submitted to OMB for review and approval under the Paperwork Reduction Act of 1995. ACTION: SUMMARY: In accordance with requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that it is submitting to the Office of Management and Budget (OMB) a request for OMB review and approval of the renewal or revision of the information collection systems described below. The collection would provide information on the features and effectiveness of small-dollar programs offered by FDIC-insured financial institutions. Comments must be submitted on or before September 17, 2007. ADDRESSES: Interested parties are invited to submit written comments on the collection of information entitled: Pilot Study of Small Dollar Loan Programs. All comments should refer to the name of the collection. Comments may be submitted by any of the following methods: • http://www.FDIC.gov/regulations/ laws/federal/propose.html. • E-mail: comments@fdic.gov. Include the name and number of the collection in the subject line of the message. • Mail: Leneta G. Gregorie (202.898.3719), Counsel, Federal Deposit Insurance Corporation, Room F–1064, 550 17th Street, NW., Washington, DC 20429. • Hand Delivery: Comments may be hand-delivered to the guard station at the rear of the 550 17th Street Building (located on F Street), on business days between 7 a.m. and 5 p.m. A copy of the comments may also be submitted to the OMB Desk Officer for the FDIC, Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, Washington, DC 20503. FOR FURTHER INFORMATION CONTACT: Interested members of the public may obtain additional information about the collection, including a copy of the proposed collection and related instructions without charge, by contacting Leneta G. Gregorie, at the address identified above. SUPPLEMENTARY INFORMATION: DATES: Proposal To Seek OMB Approval for the Following New Collection of Information Title: Pilot Study of Small-Dollar Loan Programs. OMB Number: 3064–NEW. PO 00000 Frm 00032 Fmt 4703 Sfmt 4703 46225 Frequency of Response: Pilot study application—one time; Program evaluation reports—quarterly for two years. Affected Public: Insured depository institutions that apply for and are accepted to participate in the pilot study. Estimated Number of Respondents: Pilot study application—40; Program evaluation reports—20 to 40. Estimated Time per Response: Pilot study application—estimated average of 2 hours per respondent; Program evaluation reports—estimated average of 5 hours per respondent. Estimated Total Annual Burden: Pilot study application—40 respondents times 2 hours per respondent = 80 hours; Program evaluation reports—20 to 40 respondents times 5 hours per respondent times 4 (quarterly). Total burden = 80 + 800 = 880 hours. General Description of Collection: In recognition of the huge demand for small-dollar, unsecured loans, as evidenced by the proliferation around the country of payday lenders, the FDIC, on December 4, 2006, proposed and sought comment on guidelines for such products (http://www.fdic.gov/news/ news/press/2006/pr06107.html). The proposed guidelines addressed several aspects of product development, including affordability and streamlined underwriting. Based on the comments received, the FDIC issued final guidelines on June 19, 2007, entitled ‘‘Affordable Small-Dollar Loan Guidelines’’ (http://www.fdic.gov/news/ news/financial/2007/fil07050.html). The FDIC’s goal in issuing the guidelines is to encourage financial institutions to offer small-dollar, unsecured loans in a safe and sound manner that is also costeffective and responsive to customer needs. To further encourage the development by insured financial institutions of small-dollar credit programs, the FDIC is contemplating conducting a pilot study to assess the viability of such programs, with the goal of demonstrating the extent of their profitability, determining the degree to which customers of such programs migrate into other banking products, determining the extent to which a savings component results in increased savings and debt reduction, and identifying program features which can be deemed ‘‘best practices.’’ Programs selected for the pilot may be either already in existence at a bank or developed specifically for participation in the study. Volunteers for the program must be well managed, well capitalized institutions, and not be subject to any E:\FR\FM\17AUN1.SGM 17AUN1 ebenthall on PRODPC61 with NOTICES 46226 Federal Register / Vol. 72, No. 159 / Friday, August 17, 2007 / Notices enforcement actions. Banks interested in participating will provide a description of their existing or proposed smalldollar loan program to the FDIC. Key features of a preferred small-dollar lending program might include loan amounts of up to $1,000; amortization periods longer than a single pay cycle and up to 36 months for closed end credit, or minimum payments which reduce principal (i.e., do not result in negative amortization) for open end credit; annual percentage rates (APR) below 36 percent; no prepayment penalties; origination fees limited to the amount necessary to cover actual costs; a savings component; and a financial education component. The pilot study will require the quarterly collection of data from participating institutions, to the extent such data are not currently included in the Call Reports or other standard regulatory reports, to evaluate program success. For this purpose, the FDIC anticipates that the following (or similar) information will be collected from participating institutions on a quarterly basis: • The total number and total dollar amount of small-dollar loans made under the pilot program; • Average loan term and average dollar size of such loans; • Average interest rates charged, average fees levied, and average calculations of APR, as required by the Truth in Lending Act; • Aggregate delinquency, charge-off, and workout financing data; • Profitability and/or break-even data for the overall program; • The total number and total dollar amount of linked savings accounts opened as part of the program; • Information as to duration and withdrawal rates of linked savings accounts; • Data on utilization rates of any financial education component; • Information regarding whether customers of the program migrated to other bank products; and • To the extent possible, whether offering affordable loan products helped to wean customers off of high-cost debt. The preferred method for collecting these data is electronic submission through the existing FDIConnect data interface system to minimize burden on respondents. The survey will be conducted quarterly, fifteen days after the deadline for banks to file their mandatory Call Reports. The study will conform to privacy rules and will not request any information that could be used to identify individual bank customers, such as name, address, or VerDate Aug<31>2005 15:36 Aug 16, 2007 Jkt 211001 account number. All data from participating insured institutions will remain confidential. It is the intent of the FDIC to publish only general findings of the study. Request for Comment Comments are invited on: (a) Whether these collections of information are necessary for the proper performance of the FDIC’s functions, including whether the information has practical utility; (b) the accuracy of the estimate of the burden of the information collections, including the validity of the methodology and assumptions used; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the information collections on respondents, including through the use of automated collection techniques or other forms of information technology. All comments will become a matter of public record. Dated at Washington, DC, this 14th day of August, 2007. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. E7–16215 Filed 8–16–07; 8:45 am] BILLING CODE 6714–01–P FEDERAL DEPOSIT INSURANCE CORPORATION Agency Information Collection Activities: Proposed Information Collection; Comment Request Federal Deposit Insurance Corporation (FDIC). ACTION: Notice and request for comment. AGENCY: SUMMARY: The FDIC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on a proposed new collection of information, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35). The collection is mandated by section 7 of the Federal Deposit Insurance Reform Conforming Amendments Act of 2005 (‘‘Reform Act’’) (Pub. L. 109–173), which calls for the FDIC to conduct ongoing surveys ‘‘on efforts by insured depository institutions to bring those individuals and families who have rarely, if ever, held a checking account, a savings account or other type of transaction or check cashing account at an insured depository institution (hereafter in this section referred to as the ‘unbanked’) into the conventional finance system.’’ The FDIC is initiating work on the first of these surveys and intends to survey PO 00000 Frm 00033 Fmt 4703 Sfmt 4703 FDIC-insured depository institutions on their efforts to serve underbanked, as well as unbanked, populations. Underbanked populations include individuals who have an account with an insured depository but also rely on nonbank alternative financial service providers for transaction services or high cost credit products. DATES: Comments must be submitted on or before October 16, 2007. ADDRESSES: Interested parties are invited to submit written comments by any of the following methods. All comments should refer to ‘‘National Survey on Banks’ Efforts to Serve the Unbanked and Underbanked’’: • http://www.FDIC.gov/regulations/ laws/federal/. • E-mail: comments@fdic.gov. Include the name and number of the collection in the subject line of the message. • Mail: Leneta Gregorie (202–898– 3719), Counsel, Legal Division, Federal Deposit Insurance Corporation, 550 17th Street, NW., Washington, DC 20429. • Hand Delivery: Comments may be hand-delivered to the guard station at the rear of the 550 17th Street Building (located on F Street), on business days between 7 a.m. and 5 p.m. FOR FURTHER INFORMATION CONTACT: Interested members of the public may obtain additional information about the collection, including a copy of the proposed collection and related instructions, without charge, by contacting Leneta Gregorie at the address identified above, or by calling (202) 898–3719. SUPPLEMENTARY INFORMATION: The proposed National Survey on Banks’ Efforts to Serve the Unbanked and Underbanked collection of information consists of two components: (1) A questionnaire survey of banks’ efforts to serve unbanked and underbanked populations; and (2) a limited number of case studies of innovative approaches employed by banks to serve these same unbanked and underbanked populations: 1. Survey OMB Number: New collection. Frequency of Response: Once. Affected Public: FDIC-insured depository institutions. Estimated Number of Respondents: 865. Estimated Time per Response: 30 minutes per respondent. Estimated Total Annual Burden: 0.5 hours × 865 respondents = 432.5 hours. 2. Case Studies OMB Number: New collection. Frequency of Response: Exploratory interview—once; in-depth interview— once. E:\FR\FM\17AUN1.SGM 17AUN1

Agencies

[Federal Register Volume 72, Number 159 (Friday, August 17, 2007)]
[Notices]
[Pages 46225-46226]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-16215]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request; 3064-0121

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of information collections to be submitted to OMB for 
review and approval under the Paperwork Reduction Act of 1995.

-----------------------------------------------------------------------

SUMMARY: In accordance with requirements of the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that it 
is submitting to the Office of Management and Budget (OMB) a request 
for OMB review and approval of the renewal or revision of the 
information collection systems described below. The collection would 
provide information on the features and effectiveness of small-dollar 
programs offered by FDIC-insured financial institutions.

DATES: Comments must be submitted on or before September 17, 2007.

ADDRESSES: Interested parties are invited to submit written comments on 
the collection of information entitled: Pilot Study of Small Dollar 
Loan Programs. All comments should refer to the name of the collection. 
Comments may be submitted by any of the following methods:
     http://www.FDIC.gov/regulations/laws/federal/propose.html.
     E-mail: comments@fdic.gov. Include the name and number of 
the collection in the subject line of the message.
     Mail: Leneta G. Gregorie (202.898.3719), Counsel, Federal 
Deposit Insurance Corporation, Room F-1064, 550 17th Street, NW., 
Washington, DC 20429.
     Hand Delivery: Comments may be hand-delivered to the guard 
station at the rear of the 550 17th Street Building (located on F 
Street), on business days between 7 a.m. and 5 p.m.
    A copy of the comments may also be submitted to the OMB Desk 
Officer for the FDIC, Office of Information and Regulatory Affairs, 
Office of Management and Budget, New Executive Office Building, Room 
10235, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Interested members of the public may 
obtain additional information about the collection, including a copy of 
the proposed collection and related instructions without charge, by 
contacting Leneta G. Gregorie, at the address identified above.

SUPPLEMENTARY INFORMATION:

Proposal To Seek OMB Approval for the Following New Collection of 
Information

    Title: Pilot Study of Small-Dollar Loan Programs.
    OMB Number: 3064-NEW.
    Frequency of Response: Pilot study application--one time; Program 
evaluation reports--quarterly for two years.
    Affected Public: Insured depository institutions that apply for and 
are accepted to participate in the pilot study.
    Estimated Number of Respondents: Pilot study application--40; 
Program evaluation reports--20 to 40.
    Estimated Time per Response: Pilot study application--estimated 
average of 2 hours per respondent; Program evaluation reports--
estimated average of 5 hours per respondent.
    Estimated Total Annual Burden: Pilot study application--40 
respondents times 2 hours per respondent = 80 hours; Program evaluation 
reports--20 to 40 respondents times 5 hours per respondent times 4 
(quarterly). Total burden = 80 + 800 = 880 hours.
    General Description of Collection: In recognition of the huge 
demand for small-dollar, unsecured loans, as evidenced by the 
proliferation around the country of payday lenders, the FDIC, on 
December 4, 2006, proposed and sought comment on guidelines for such 
products (http://www.fdic.gov/news/news/press/2006/pr06107.html). The 
proposed guidelines addressed several aspects of product development, 
including affordability and streamlined underwriting. Based on the 
comments received, the FDIC issued final guidelines on June 19, 2007, 
entitled ``Affordable Small-Dollar Loan Guidelines'' (http://
www.fdic.gov/news/news/financial/2007/fil07050.html). The FDIC's goal 
in issuing the guidelines is to encourage financial institutions to 
offer small-dollar, unsecured loans in a safe and sound manner that is 
also cost-effective and responsive to customer needs.
    To further encourage the development by insured financial 
institutions of small-dollar credit programs, the FDIC is contemplating 
conducting a pilot study to assess the viability of such programs, with 
the goal of demonstrating the extent of their profitability, 
determining the degree to which customers of such programs migrate into 
other banking products, determining the extent to which a savings 
component results in increased savings and debt reduction, and 
identifying program features which can be deemed ``best practices.'' 
Programs selected for the pilot may be either already in existence at a 
bank or developed specifically for participation in the study.
    Volunteers for the program must be well managed, well capitalized 
institutions, and not be subject to any

[[Page 46226]]

enforcement actions. Banks interested in participating will provide a 
description of their existing or proposed small-dollar loan program to 
the FDIC. Key features of a preferred small-dollar lending program 
might include loan amounts of up to $1,000; amortization periods longer 
than a single pay cycle and up to 36 months for closed end credit, or 
minimum payments which reduce principal (i.e., do not result in 
negative amortization) for open end credit; annual percentage rates 
(APR) below 36 percent; no prepayment penalties; origination fees 
limited to the amount necessary to cover actual costs; a savings 
component; and a financial education component.
    The pilot study will require the quarterly collection of data from 
participating institutions, to the extent such data are not currently 
included in the Call Reports or other standard regulatory reports, to 
evaluate program success. For this purpose, the FDIC anticipates that 
the following (or similar) information will be collected from 
participating institutions on a quarterly basis:
     The total number and total dollar amount of small-dollar 
loans made under the pilot program;
     Average loan term and average dollar size of such loans;
     Average interest rates charged, average fees levied, and 
average calculations of APR, as required by the Truth in Lending Act;
     Aggregate delinquency, charge-off, and workout financing 
data;
     Profitability and/or break-even data for the overall 
program;
     The total number and total dollar amount of linked savings 
accounts opened as part of the program;
     Information as to duration and withdrawal rates of linked 
savings accounts;
     Data on utilization rates of any financial education 
component;
     Information regarding whether customers of the program 
migrated to other bank products; and
     To the extent possible, whether offering affordable loan 
products helped to wean customers off of high-cost debt.

The preferred method for collecting these data is electronic submission 
through the existing FDIConnect data interface system to minimize 
burden on respondents. The survey will be conducted quarterly, fifteen 
days after the deadline for banks to file their mandatory Call Reports. 
The study will conform to privacy rules and will not request any 
information that could be used to identify individual bank customers, 
such as name, address, or account number. All data from participating 
insured institutions will remain confidential. It is the intent of the 
FDIC to publish only general findings of the study.

Request for Comment

    Comments are invited on: (a) Whether these collections of 
information are necessary for the proper performance of the FDIC's 
functions, including whether the information has practical utility; (b) 
the accuracy of the estimate of the burden of the information 
collections, including the validity of the methodology and assumptions 
used; (c) ways to enhance the quality, utility, and clarity of the 
information to be collected; and (d) ways to minimize the burden of the 
information collections on respondents, including through the use of 
automated collection techniques or other forms of information 
technology. All comments will become a matter of public record.

    Dated at Washington, DC, this 14th day of August, 2007.

    Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. E7-16215 Filed 8-16-07; 8:45 am]
BILLING CODE 6714-01-P