Agency Information Collection Activities: Proposed Information Collection; Comment Request, 46226-46227 [E7-16218]

Download as PDF 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’’: • https://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 Federal Register / Vol. 72, No. 159 / Friday, August 17, 2007 / Notices ebenthall on PRODPC61 with NOTICES Affected Public: 25 to 30 FDICinsured depository institutions. Estimated Number of Respondents: 25 to 30 FDIC-insured depository institutions. Estimated Time per Response: Exploratory interview—1 hour; in-depth interview—2.5 hours. Estimated Total Burden: 30 hours + 75 hours = 105 hours. Total burden for this collection: 432.5 hours + 105 hours = 537.5 hours. General Description of Collection The FDIC has a number of initiatives underway to encourage practical solutions to ensure that all consumers have reasonable access to full service banking and other financial services. The FDIC believes that insured depositories can provide a path into the financial mainstream for those who need these financial services, and that depository institutions can create an array of affordable lending services to meet the needs of all their customers. Currently a large segment of the population relies on a mix of non-bank financial service providers for their needs. The FDIC is undertaking a series of analyses in this area, including the proposed National Survey of Banks’ Efforts to Serve the Unbanked and Underbanked. The survey is mandated by section 7 of the Reform Act, 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.’’ In this initial survey effort, the FDIC plans to survey FDIC-insured depository institutions on their efforts to serve underbanked as well as unbanked populations. The survey will consist of two components—a questionnaire survey of a sample of FDIC-insured depository institutions and a limited number of case studies of FDIC-insured depository institutions that are employing innovative methods to serve unbanked and underbanked populations. The Reform Act mandates that the FDIC consider the following factors and questions in conducting the survey: ‘‘(A) To what extent do insured depository institutions promote financial education and financial literacy outreach? ‘‘(B) Which financial education efforts appear to be the most effective in bringing ‘unbanked’ individuals and VerDate Aug<31>2005 15:36 Aug 16, 2007 Jkt 211001 families into the conventional finance system? ‘‘(C) What efforts are insured institutions making at converting ‘unbanked’ money order, wire transfer, and international remittance customers into conventional account holders? ‘‘(D) What cultural, language and identification issues as well as transaction costs appear to most prevent ‘unbanked’ individuals from establishing conventional accounts? ‘‘(E) What is a fair estimate of the size and worth of the ‘unbanked’ market in the United States?’’ In addition to these mandated objectives, in its questionnaire survey of a sample of FDIC-insured depository institutions, the FDIC seeks to identify and quantify the extent to which institutions serve the needs of the unbanked and underbanked; identify the characteristics of institutions that are reaching out to and serving the unbanked and underbanked; identify efforts (for example, practices, programs, alliances) of institutions to serve the unbanked and underbanked; and identify potential barriers that affect the ability of institutions to serve the unbanked and underbanked. The objectives of the case studies are to identify and share ‘‘best practice’’ programs and practices that appear to be the most effective in bringing unbanked and underbanked populations into the financial mainstream, particularly the federally-insured financial institutions. The case studies will be designed to collect information on the size and scope of programs, the nature of service offerings, program budgets, and results. Request for Comment Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the FDIC’s functions, including whether the information has practical utility; (b) the accuracy of the estimates of the burden of the information collection; (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 collection on respondents, including through the use of automated collection techniques or other forms of information technology. The FDIC will consider all comments to determine the extent to which the proposed information collection should be modified prior to submission to OMB for review and approval. After the comment period closes, comments will be summarized or included in the FDIC’s request to OMB for approval of the collection. All comments will become a matter of public record. PO 00000 Frm 00034 Fmt 4703 Sfmt 4703 46227 Dated at Washington, DC, this 13th day of August, 2007. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. E7–16218 Filed 8–16–07; 8:45 am] BILLING CODE 6714–01–P FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies The notificants listed below have applied under the Change in Bank Control Act (12 U.S.C. 1817(j)) and § 225.41 of the Board’s Regulation Y (12 CFR 225.41) to acquire a bank or bank holding company. The factors that are considered in acting on the notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)). The notices are available for immediate inspection at the Federal Reserve Bank indicated. The notices also will be available for inspection at the office of the Board of Governors. Interested persons may express their views in writing to the Reserve Bank indicated for that notice or to the offices of the Board of Governors. Comments must be received not later than August 31, 2007. A. Federal Reserve Bank of Minneapolis (Jacqueline G. King, Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota 55480-0291: 1. First Trust Company of Onaga, N.A. FBO LeRoy Albjerg, IRA, Arden Hills, Minnesota; US Bancorp Piper Jaffray custodian FBO Harold Broman, Jr., North St. Paul, Minnesota; Larry Dunn, Stacy, Minnesota; and Diana Makens, Las Vegas, Nevada, to join an existing group acting in concert: Walter G. Fries, Wabasha, Minnesota; Raymond B. Pinson, Del Ray Beach, Florida; Kenneth D. Myers, Apple Valley, Minnesota; GLA Investments, L.L.C., Lakeville, Minnesota, Gary Anderson as general partner; AMSIE Enterprises, LLC, both of Minnetonka, Minnesota, Donald Eisma as general partner; Nancy Ludwig and Francis N. Ludwig; Richard B. Lambert, Jr., all of Apple Valley, Minnesota; Russell S. Sampson, Prior Lake, Minnesota; Curtis A. Sampson, Hector, Minnesota; Brett D. Reese, Northfield, Minnesota; S & L Investments, LLP, Bloomington, Minnesota, David Stueve as general partner; Savage Capitalists, LLP, both of Bloomington, Minnesota, David Stueve as general partner; Pershing LLC FBO Richard D. Estenson IRA, both of Northfield, Minnesota; Charles and Cindy Beske, both of E:\FR\FM\17AUN1.SGM 17AUN1

Agencies

[Federal Register Volume 72, Number 159 (Friday, August 17, 2007)]
[Notices]
[Pages 46226-46227]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-16218]


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

FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Information 
Collection; Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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

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 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'':
     https://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 x 865 respondents = 432.5 
hours.
    2. Case Studies
     OMB Number: New collection.
     Frequency of Response: Exploratory interview--once; in-depth 
interview--once.

[[Page 46227]]

     Affected Public: 25 to 30 FDIC-insured depository institutions.
     Estimated Number of Respondents: 25 to 30 FDIC-insured depository 
institutions.
     Estimated Time per Response: Exploratory interview--1 hour; in-
depth interview--2.5 hours.
     Estimated Total Burden: 30 hours + 75 hours = 105 hours.

     Total burden for this collection: 432.5 hours + 105 hours = 537.5 
hours.

General Description of Collection

    The FDIC has a number of initiatives underway to encourage 
practical solutions to ensure that all consumers have reasonable access 
to full service banking and other financial services. The FDIC believes 
that insured depositories can provide a path into the financial 
mainstream for those who need these financial services, and that 
depository institutions can create an array of affordable lending 
services to meet the needs of all their customers. Currently a large 
segment of the population relies on a mix of non-bank financial service 
providers for their needs. The FDIC is undertaking a series of analyses 
in this area, including the proposed National Survey of Banks' Efforts 
to Serve the Unbanked and Underbanked. The survey is mandated by 
section 7 of the Reform Act, 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.''
    In this initial survey effort, the FDIC plans to survey FDIC-
insured depository institutions on their efforts to serve underbanked 
as well as unbanked populations. The survey will consist of two 
components--a questionnaire survey of a sample of FDIC-insured 
depository institutions and a limited number of case studies of FDIC-
insured depository institutions that are employing innovative methods 
to serve unbanked and underbanked populations.
    The Reform Act mandates that the FDIC consider the following 
factors and questions in conducting the survey:
    ``(A) To what extent do insured depository institutions promote 
financial education and financial literacy outreach?
    ``(B) Which financial education efforts appear to be the most 
effective in bringing `unbanked' individuals and families into the 
conventional finance system?
    ``(C) What efforts are insured institutions making at converting 
`unbanked' money order, wire transfer, and international remittance 
customers into conventional account holders?
    ``(D) What cultural, language and identification issues as well as 
transaction costs appear to most prevent `unbanked' individuals from 
establishing conventional accounts?
    ``(E) What is a fair estimate of the size and worth of the 
`unbanked' market in the United States?''
    In addition to these mandated objectives, in its questionnaire 
survey of a sample of FDIC-insured depository institutions, the FDIC 
seeks to identify and quantify the extent to which institutions serve 
the needs of the unbanked and underbanked; identify the characteristics 
of institutions that are reaching out to and serving the unbanked and 
underbanked; identify efforts (for example, practices, programs, 
alliances) of institutions to serve the unbanked and underbanked; and 
identify potential barriers that affect the ability of institutions to 
serve the unbanked and underbanked.
    The objectives of the case studies are to identify and share ``best 
practice'' programs and practices that appear to be the most effective 
in bringing unbanked and underbanked populations into the financial 
mainstream, particularly the federally-insured financial institutions. 
The case studies will be designed to collect information on the size 
and scope of programs, the nature of service offerings, program 
budgets, and results.

Request for Comment

    Comments are invited on: (a) Whether the collection of information 
is necessary for the proper performance of the FDIC's functions, 
including whether the information has practical utility; (b) the 
accuracy of the estimates of the burden of the information collection; 
(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 collection on respondents, including through the use of 
automated collection techniques or other forms of information 
technology.
    The FDIC will consider all comments to determine the extent to 
which the proposed information collection should be modified prior to 
submission to OMB for review and approval. After the comment period 
closes, comments will be summarized or included in the FDIC's request 
to OMB for approval of the collection. All comments will become a 
matter of public record.

    Dated at Washington, DC, this 13th day of August, 2007.

    Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. E7-16218 Filed 8-16-07; 8:45 am]
BILLING CODE 6714-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.