Proposed Information Collection; Comment Request, 50400-50402 [E8-19452]

Download as PDF sroberts on PROD1PC76 with NOTICES 50400 Federal Register / Vol. 73, No. 166 / Tuesday, August 26, 2008 / Notices records to ensure that the concentrates are manufactured properly. Respondents: Businesses or other forprofit institutions. Estimated Total Burden Hours: 160 hours. OMB Number: 1513–0031. Type of Review: Revision. Title: Specific Transportation Bond— Distilled Spirits or Wines Withdrawn for Transportation to Manufacturing Bonded Warehouse—Class Six; and Continuing Transportation Bond— Distilled Spirits and Wines. Forms: TTB 5100.12, TTB 5110.67. Description: TTB F 5100.12 and TTB F 5110.67 are specific bonds that protect the tax revenue on distilled spirits and wine while in transit from one type of bonded facility to another. They identify the shipment, the parties, the date, and the amount of bond coverage. Respondents: Business and other for profits. Estimated Total Burden Hours: 1 hour. OMB Number: 1513–0055. Type of Review: Revision. Title: Offer in Compromise of Liability Incurred Under Federal Alcohol Administration Act, as amended. Forms: TTB 5640.2. Description: Persons who have committed violations of the FAA Act may submit an offer in compromise. The offer is a request by the party in violation to compromise penalties for the violations in lieu of civil or criminal action. TTB F 5640.2 identifies the violation(s) to be compromised by the person committing them, amount of offer, plus justification for acceptance. Respondents: Business and other for profits. Estimated Total Burden Hours: 24 hours. OMB Number: 1513–0102. Type of Review: Revision. Title: Drawback of Tax on Tobacco Products and Cigarette Papers and Tubes—Export Shipment, TTB REC 5210/2. Description: Exporters may file claim for drawback of tax on tobacco products and cigarette papers and tubes which have been taxpaid and are to be exported. Appropriate records are needed to ensure drawback of tax is properly documented and justified. Respondents: Business and other for profits. Estimated Total Burden Hours: 5 hours. Clearance Officer: Frank Foote (202) 927–9347, Alcohol and Tobacco Tax and Trade Bureau,Room 200 East,1310 G. Street, NW.,Washington, DC 20005. OMB Reviewer: Alexander T. Hunt (202) 395–7316, Office of Management VerDate Aug<31>2005 00:53 Aug 26, 2008 Jkt 214001 and Budget, Room 10235, New Executive Office Building,Washington, DC 20503. Robert Dahl, Treasury PRA Clearance Officer. [FR Doc. E8–19696 Filed 8–25–08; 8:45 am] BILLING CODE 4810–31–P Financial Management Service; Senior Executive Service; Financial Management Service Performance Review Board (PRB) Financial Management Service, Treasury. ACTION: Notice. AGENCY: SUMMARY: This notice announces the appointment of members to the Financial Management Service (FMS) Performance Review Board (PRB). DATES: This notice is effective on August 26, 2008. FOR FURTHER INFORMATION CONTACT: David A. Lebryk, Deputy Commissioner, Financial Management Service, 401 14th Street, SW., Washington, DC; telephone (202) 874–7000. SUPPLEMENTARY INFORMATION: Pursuant to 5 U.S.C. 4314(c)(4), this notice is given of the appointment of individuals to serve as members of the FMS PRB. This Board reviews the performance appraisals of career senior executives below the Assistant Commissioner level and makes recommendations regarding ratings, bonuses, and other personnel actions. Four voting members constitute a quorum. The names and titles of the FMS PRB members are as follows: Primary Members David A. Lebryk, Deputy Commissioner Rita Bratcher, Assistant Commissioner, Debt Management Services Sheryl R. Morrow, Assistant Commissioner, Federal Finance Wanda Rogers, Assistant Commissioner, Payment Management Charles R. Simpson, Assistant Commissioner, Information Resources D. James Sturgill, Assistant Commissioner, Govermentwide Accounting Alternate Member Scott H. Johnson, Assistant Commissioner, Management (Chief Financial Officer) David A. Lebryk, Deputy Commissioner. [FR Doc. E8–19767 Filed 8–25–08; 8:45 am] BILLING CODE 4810–35–M Frm 00102 Fmt 4703 Office of the Comptroller of the Currency Proposed Information Collection; Comment Request Office of the Comptroller of the Currency (OCC), Treasury. ACTION: Notice and request for comment. AGENCY: DEPARTMENT OF THE TREASURY PO 00000 DEPARTMENT OF THE TREASURY Sfmt 4703 SUMMARY: The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995. Currently, the OCC is soliciting comment concerning its extension, without change, of an information collection titled ‘‘Debt Cancellation Contracts and Debt Suspension Agreements—12 CFR 37.’’ DATES: You should submit written comments by: October 27, 2008. ADDRESSES: Communications Division, Office of the Comptroller of the Currency, Public Information Room, Mail Stop 1–5, Attention: 1557–0224, 250 E Street, SW., Washington, DC 20219. In addition, comments may be sent by fax to (202) 874–4448, or by electronic mail to regs.comments@occ.treas.gov. You may personally inspect and photocopy comments at the OCC’s Public Information Room, 250 E Street, SW., Washington, DC. For security reasons, the OCC requires that visitors make an appointment to inspect comments. You may do so by calling (202) 874–5043. 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. Additionally, you should send a copy of your comments to OCC Desk Officer, 1557–0224, by mail to U.S. Office of Management and Budget, 725 17th Street, NW., #10235, Washington, DC 20503, or by fax to (202) 395–6974. FOR FURTHER INFORMATION CONTACT: You can request additional information or a copy of the collection from Mary Gottlieb, (202) 874–5090, Legislative and Regulatory Activities Division (1557–0202), Office of the Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219. SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval of the following information collection: Title: Debt Cancellation Contracts and Debt Suspension Agreements. OMB Number: 1557–0224. C:\FR\FM\26AUN1.SGM 26AUN1 Federal Register / Vol. 73, No. 166 / Tuesday, August 26, 2008 / Notices sroberts on PROD1PC76 with NOTICES Description: This submission covers an existing regulation and involves no change to the regulation or the information collection. The OCC requests that OMB approve its revised estimates and renew its approval of the information collection. The estimates have been revised to reflect the current number of national banks. The regulation requires national banks to disclose information about a Debt Cancellation Contract (DCC) or Debt Suspension Agreement (DSA). The short form disclosure is usually made orally and is issued at the time the bank firsts solicits the purchase of a contract. The long form disclosure is usually made in writing and is issued before the customer completes the purchase of the contract. There are special rules for transactions by telephone, solicitations using written mail inserts or ‘‘take one’’ applications, and electronic transactions. Part 37 provides two forms of disclosure that serve as models for satisfying the requirements of the rule. Use of the forms is not mandatory. A bank may adjust the form and wording of its disclosures so long as the requirements of the regulation are met. 12 U.S.C. 24 (Seventh) authorizes national banks to enter into DCCs and DSAs. The requirements of part 37 enhance consumer protections for customers who buy DCCs and DSAs from national banks and ensure that national banks provide these products on a safe and sound basis by requiring them to effectively manage their risk exposure. Section 37.6 Section 37.6 requires a bank to provide the following disclosures, as appropriate: • Anti-tying—A bank must inform the customer that purchase of the product is optional and neither its decision whether to approve the loan nor the terms and conditions of the loan are conditioned on the purchase of a DCC or DSA. • Explanation of debt suspension agreement—A bank must disclose that if a customer activates the agreement, the customer’s duty to pay the loan principal and interest is only suspended and the customer must fully repay the loan after the period of suspension has expired. • Amount of the fee—A bank must make disclosures regarding the amount of the fee. The disclosure must differ depending on whether the credit is open-end or closed-end. In the case of closed-end credit, the bank must disclose the total fee. In the case of open-end credit, the bank must either disclose that the periodic fee is based on VerDate Aug<31>2005 00:53 Aug 26, 2008 Jkt 214001 the account balance multiplied by a unit cost and provide the unit cost, or disclose the formula used to compute the fee. • Lump sum payment of fee—A bank must disclose, where appropriate, that a customer has the option to pay the fee in a single payment or in periodic payments. This disclosure is not appropriate in the case of a DCC or DSA provided in connection with a home mortgage loan since the option to pay the fee in a single payment is not available in that case. Banks are also required to disclose that adding the fee to the amount borrowed will increase the cost of the contract. • Lump sum payment of fee with no refund—A bank must disclose that the customer has the option to choose a contract with or without a refund provision. This disclosure also states that prices of refund and no-refund products are likely to differ. • Refund of fee paid in lump sum— If a bank permits a customer to pay the fee in a single payment and to add the fee to the amount borrowed, the bank must disclose the bank’s cancellation policy. The disclosure informs the customer that the DCC or DSA may be canceled at any time for a refund, within a specified number of days for a full refund, or at any time with no refund. • Whether use of credit line is restricted—A bank must inform a customer if the customer’s activation of the contract would prohibit the customer from incurring additional charges or using the credit line. • Termination of a DCC or DSA—A bank must explain the circumstances under which a customer or the bank could terminate the contract if termination is permitted during the life of the loan. • Additional disclosures—A bank must inform consumers that it will provide additional information before the customer is required to pay for the product. • Eligibility requirements, conditions, and exclusions—A bank must describe any material limitations relating to the DCC or DSA. The content of the short and long form may vary, depending on whether a bank elects to provide a summary of the conditions and exclusions in the long form disclosures or refer the customer to the pertinent paragraphs in the contract. The short form requires a bank to instruct the customer to read carefully both the long form disclosures and the contract for a full explanation of the terms of the contract. The long form gives a bank the option of either separately summarizing the limitations PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 50401 or advising the customer that a complete explanation of the eligibility requirements, conditions, and exclusions is available in the contract and identifying the paragraphs where a customer may find that information. Section 37.7 Section 37.7 requires a bank to obtain a customer’s written affirmative election to purchase a contract and written acknowledgment of receipt of the disclosures required by § 37.6. If the sale of the contract occurs by telephone, the customer’s affirmative election to purchase and acknowledgment of receipt of the required short form may be made orally, provided the bank maintains certain documentation. If the contract is solicited through written materials such as mail inserts or ‘‘take one’’ applications and the bank provides only the short form disclosures in the written materials, then the bank shall mail the acknowledgment, together with the long form disclosures, to the customer. The bank may not obligate the customer to pay for the contract until after the bank has received the customer’s written acknowledgment of receipt of disclosures unless the bank maintains certain documentation. The affirmative election and acknowledgment may also be made electronically. Type of Review: Regular. Affected Public: Businesses or other for-profit. Number of Respondents: 1,800. Total Annual Responses: 1,800. Frequency of Response: On occasion. Total Annual Burden Hours: 43,200. 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 agency, including whether the information shall have practical utility; (b) The accuracy of the agency’s estimate of the burden of the collection of information; (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 through the use of automated collection techniques or other forms of information technology; and (e) Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information. C:\FR\FM\26AUN1.SGM 26AUN1 50402 Federal Register / Vol. 73, No. 166 / Tuesday, August 26, 2008 / Notices Dated: August 15, 2008. Michele Meyer, Assistant Director, Legislative & Regulatory Activities Division. [FR Doc. E8–19452 Filed 8–25–08; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF VETERANS AFFAIRS [OMB Control No. 2900–0029] Agency Information Collection (Offer To Purchase and Contract of Sale) Activities Under OMB Review Veterans Benefits Administration, Department of Veterans Affairs. ACTION: Notice. sroberts on PROD1PC76 with NOTICES AGENCY: SUMMARY: In compliance with the Paperwork Reduction Act (PRA) of 1995 (44 U.S.C. 3501–3521), this notice announces that the Veterans Benefits Administration (VBA), Department of Veterans Affairs, will submit the collection of information abstracted below to the Office of Management and Budget (OMB) for review and comment. The PRA submission describes the nature of the information collection and its expected cost and burden; it includes the actual data collection instrument. DATE: Comments must be submitted on or before September 25, 2008. ADDRESSES: Submit written comments on the collection of information through http://www.Regulations.gov or to VA’s OMB Desk Officer, OMB Human Resources and Housing Branch, New Executive Office Building, Room 10235, Washington, DC 20503 (202) 395–7316. Please refer to ‘‘OMB Control No. 2900– 0029’’ in any correspondence. FOR FURTHER INFORMATION CONTACT: Denise McLamb, Records Management Service (005R1B), Department of Veterans Affairs, 810 Vermont Avenue, NW., Washington, DC 20420, (202) 461– 7485, FAX (202) 273–0443 or e-mail denise.mclamb@mail.va.gov. Please refer to ‘‘OMB Control No. 2900–0029.’’ SUPPLEMENTARY INFORMATION: Titles: a. Offer to Purchase and Contract of Sale, VA Form 26–6705. b. Credit Statement of Prospective Purchaser, VA Form 26–6705b. c. Addendum to VA Form 26–6705 Offer to Purchase and Contract of Sale,VA Form 26–6705d. OMB Control Number: 2900–0029. Type of Review: Extension of a currently approved collection. Abstract: a. VA Form 26–6705 is completed by private sector sales broker to submit an VerDate Aug<31>2005 00:53 Aug 26, 2008 Jkt 214001 offer to purchase VA-acquired property on behalf of a prospective buyer. VA Form 26–6705 becomes a contract of sale if VA accepts the offer to purchase. It serves as a receipt for the prospective buyer for his/her earnest money deposit, describes the terms of sale, and eliminates the need for separate transmittal of a purchase offer. b. VA Form 26–6705b is used as a credit application to determine the prospective buyer creditworthiness in instances when the prospective buyer seeks VA vendee financing. In such sales, the offer to purchase will not be accepted until the buyer’s income and credit history have been verified and a loan analysis has been completed. c. VA Form 26–6705d is an addendum to VA Form 26–6705 for use in the state of Virginia. The forms requires the buyer to be informed of the State’s law at or prior to closing the transaction. An agency may not conduct or sponsor, and a person is not required to respond to a collection of information unless it displays a currently valid OMB control number. The Federal Register Notice with a 60-day comment period soliciting comments on this collection of information was published on June 3, 2008, at page 31736. Affected Public: Individuals or households. Estimated Annual Burden: a. VA Form 26–6705–10,000 hours. b. VA Form 26–6705b–7,333 hours. c. VA Form 26–6705d–125 hours. Estimated Average Burden Per Respondent: a. VA Form 26–6705–20 minutes. b. VA Form 26–6705b–20 minutes. c. VA Form 26–6705d–5 minutes. Frequency of Response: On occasion. Estimated Number of Total Respondents: a. VA Form 26–6705–30,000. b. VA Form 26–6705b–22,000. c. VA Form 26–6705d–1,500. Dated: August 18, 2008. By direction of the Secretary. Denise McLamb, Program Analyst Records Management Service. [FR Doc. E8–19719 Filed 8–25–08; 8:45 am] BILLING CODE 8320–01–P PO 00000 Frm 00104 Fmt 4703 Sfmt 4703 DEPARTMENT OF VETERANS AFFAIRS [OMB Control No. 2900–0594] Agency Information Collection (Election to Apply Selected Reserve Services to either Montgomery GI Bill– Active Duty or to the Montgomery GI Bill–Selected Reserve) Activities Under OMB Review Veterans Benefits Administration, Department of Veterans Affairs. ACTION: Notice. AGENCY: SUMMARY: In compliance with the Paperwork Reduction Act (PRA) of 1995 (44 U.S.C. 3501–3521), this notice announces that the Veterans Benefits Administration (VBA), Department of Veterans Affairs, will submit the collection of information abstracted below to the Office of Management and Budget (OMB) for review and comment. The PRA submission describes the nature of the information collection and its expected cost and burden; it includes the actual data collection instrument. DATES: Comments must be submitted on or before September 25, 2008. ADDRESSES: Submit written comments on the collection of information through http://www.Regulations.gov or to VA’s OMB Desk Officer, OMB Human Resources and Housing Branch, New Executive Office Building, Room 10235, Washington, DC 20503 (202) 395–7316. Please refer to ‘‘OMB Control No. 2900– 0594’’ in any correspondence. FOR FURTHER INFORMATION CONTACT: Denise McLamb, Records Management Service (005R1B), Department of Veterans Affairs, 810 Vermont Avenue, NW., Washington, DC 20420, (202) 461– 7485, FAX (202) 273–0443 or e-mail denise.mclamb@mail.va.gov. Please refer to ‘‘OMB Control No. 2900–0594.’’ SUPPLEMENTARY INFORMATION: Title: Election to Apply Selected Reserve Services to either Montgomery GI Bill–Active Duty or to the Montgomery GI Bill–Selected Reserve— 38 CFR 21.7042 and 21.7540. OMB Control Number: 2900–0594. Type of Review: Extension of a currently approved collection. Abstract: Reservist who participant in the Montgomery GI Bill—Active Duty and served on active duty for two years followed by six years in the Selected Reserve must elect to apply the selected reserved credit either toward the Montgomery GI Bill–Active Duty or toward the Montgomery GI Bill– Selected Reserve benefits. Reservists must make this election in writing, which will take effect when the C:\FR\FM\26AUN1.SGM 26AUN1

Agencies

[Federal Register Volume 73, Number 166 (Tuesday, August 26, 2008)]
[Notices]
[Pages 50400-50402]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-19452]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Proposed Information Collection; Comment Request

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 take this opportunity to comment on a continuing 
information collection, as required by the Paperwork Reduction Act of 
1995. Currently, the OCC is soliciting comment concerning its 
extension, without change, of an information collection titled ``Debt 
Cancellation Contracts and Debt Suspension Agreements--12 CFR 37.''

DATES: You should submit written comments by: October 27, 2008.

ADDRESSES: Communications Division, Office of the Comptroller of the 
Currency, Public Information Room, Mail Stop 1-5, Attention: 1557-0224, 
250 E Street, SW., Washington, DC 20219. In addition, comments may be 
sent by fax to (202) 874-4448, or by electronic mail to 
regs.comments@occ.treas.gov. You may personally inspect and photocopy 
comments at the OCC's Public Information Room, 250 E Street, SW., 
Washington, DC. For security reasons, the OCC requires that visitors 
make an appointment to inspect comments. You may do so by calling (202) 
874-5043. 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.
    Additionally, you should send a copy of your comments to OCC Desk 
Officer, 1557-0224, by mail to U.S. Office of Management and Budget, 
725 17th Street, NW., 10235, Washington, DC 20503, or by fax 
to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection from Mary Gottlieb, (202) 874-5090, 
Legislative and Regulatory Activities Division (1557-0202), Office of 
the Comptroller of the Currency, 250 E Street, SW., Washington, DC 
20219.

SUPPLEMENTARY INFORMATION: 
    The OCC is proposing to extend OMB approval of the following 
information collection:
    Title: Debt Cancellation Contracts and Debt Suspension Agreements.
    OMB Number: 1557-0224.

[[Page 50401]]

    Description: This submission covers an existing regulation and 
involves no change to the regulation or the information collection. The 
OCC requests that OMB approve its revised estimates and renew its 
approval of the information collection. The estimates have been revised 
to reflect the current number of national banks.
    The regulation requires national banks to disclose information 
about a Debt Cancellation Contract (DCC) or Debt Suspension Agreement 
(DSA). The short form disclosure is usually made orally and is issued 
at the time the bank firsts solicits the purchase of a contract. The 
long form disclosure is usually made in writing and is issued before 
the customer completes the purchase of the contract. There are special 
rules for transactions by telephone, solicitations using written mail 
inserts or ``take one'' applications, and electronic transactions. Part 
37 provides two forms of disclosure that serve as models for satisfying 
the requirements of the rule. Use of the forms is not mandatory. A bank 
may adjust the form and wording of its disclosures so long as the 
requirements of the regulation are met.
    12 U.S.C. 24 (Seventh) authorizes national banks to enter into DCCs 
and DSAs. The requirements of part 37 enhance consumer protections for 
customers who buy DCCs and DSAs from national banks and ensure that 
national banks provide these products on a safe and sound basis by 
requiring them to effectively manage their risk exposure.

Section 37.6

    Section 37.6 requires a bank to provide the following disclosures, 
as appropriate:
     Anti-tying--A bank must inform the customer that purchase 
of the product is optional and neither its decision whether to approve 
the loan nor the terms and conditions of the loan are conditioned on 
the purchase of a DCC or DSA.
     Explanation of debt suspension agreement--A bank must 
disclose that if a customer activates the agreement, the customer's 
duty to pay the loan principal and interest is only suspended and the 
customer must fully repay the loan after the period of suspension has 
expired.
     Amount of the fee--A bank must make disclosures regarding 
the amount of the fee. The disclosure must differ depending on whether 
the credit is open-end or closed-end. In the case of closed-end credit, 
the bank must disclose the total fee. In the case of open-end credit, 
the bank must either disclose that the periodic fee is based on the 
account balance multiplied by a unit cost and provide the unit cost, or 
disclose the formula used to compute the fee.
     Lump sum payment of fee--A bank must disclose, where 
appropriate, that a customer has the option to pay the fee in a single 
payment or in periodic payments. This disclosure is not appropriate in 
the case of a DCC or DSA provided in connection with a home mortgage 
loan since the option to pay the fee in a single payment is not 
available in that case. Banks are also required to disclose that adding 
the fee to the amount borrowed will increase the cost of the contract.
     Lump sum payment of fee with no refund--A bank must 
disclose that the customer has the option to choose a contract with or 
without a refund provision. This disclosure also states that prices of 
refund and no-refund products are likely to differ.
     Refund of fee paid in lump sum--If a bank permits a 
customer to pay the fee in a single payment and to add the fee to the 
amount borrowed, the bank must disclose the bank's cancellation policy. 
The disclosure informs the customer that the DCC or DSA may be canceled 
at any time for a refund, within a specified number of days for a full 
refund, or at any time with no refund.
     Whether use of credit line is restricted--A bank must 
inform a customer if the customer's activation of the contract would 
prohibit the customer from incurring additional charges or using the 
credit line.
     Termination of a DCC or DSA--A bank must explain the 
circumstances under which a customer or the bank could terminate the 
contract if termination is permitted during the life of the loan.
     Additional disclosures--A bank must inform consumers that 
it will provide additional information before the customer is required 
to pay for the product.
     Eligibility requirements, conditions, and exclusions--A 
bank must describe any material limitations relating to the DCC or DSA.
    The content of the short and long form may vary, depending on 
whether a bank elects to provide a summary of the conditions and 
exclusions in the long form disclosures or refer the customer to the 
pertinent paragraphs in the contract. The short form requires a bank to 
instruct the customer to read carefully both the long form disclosures 
and the contract for a full explanation of the terms of the contract. 
The long form gives a bank the option of either separately summarizing 
the limitations or advising the customer that a complete explanation of 
the eligibility requirements, conditions, and exclusions is available 
in the contract and identifying the paragraphs where a customer may 
find that information.

Section 37.7

    Section 37.7 requires a bank to obtain a customer's written 
affirmative election to purchase a contract and written acknowledgment 
of receipt of the disclosures required by Sec.  37.6. If the sale of 
the contract occurs by telephone, the customer's affirmative election 
to purchase and acknowledgment of receipt of the required short form 
may be made orally, provided the bank maintains certain documentation.
    If the contract is solicited through written materials such as mail 
inserts or ``take one'' applications and the bank provides only the 
short form disclosures in the written materials, then the bank shall 
mail the acknowledgment, together with the long form disclosures, to 
the customer. The bank may not obligate the customer to pay for the 
contract until after the bank has received the customer's written 
acknowledgment of receipt of disclosures unless the bank maintains 
certain documentation. The affirmative election and acknowledgment may 
also be made electronically.
    Type of Review: Regular.
    Affected Public: Businesses or other for-profit.
    Number of Respondents: 1,800.
    Total Annual Responses: 1,800.
    Frequency of Response: On occasion.
    Total Annual Burden Hours: 43,200.
    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 agency, including whether 
the information shall have practical utility;
    (b) The accuracy of the agency's estimate of the burden of the 
collection of information;
    (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 through the use of automated collection techniques or other 
forms of information technology; and
    (e) Estimates of capital or startup costs and costs of operation, 
maintenance, and purchase of services to provide information.


[[Page 50402]]


    Dated: August 15, 2008.
Michele Meyer,
Assistant Director, Legislative & Regulatory Activities Division.
 [FR Doc. E8-19452 Filed 8-25-08; 8:45 am]
BILLING CODE 4810-33-P