Agency Information Collection Activities: Submission for OMB Review; Comment Request, 1840-1841 [2010-414]
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Federal Register / Vol. 75, No. 8 / Wednesday, January 13, 2010 / Notices
official who may be contacted for
additional information is Fred
Pietrangeli, Deputy Director for Office of
Debt Management (202) 622–1876
Dated: January 6, 2010.
Fred Pietrangeli,
Deputy Director, Office of Debt Management.
[FR Doc. 2010–271 Filed 1–12–10; 8:45 am]
BILLING CODE 4810–25–M
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Submission for OMB
Review; Comment Request
srobinson on DSKHWCL6B1PROD with NOTICES
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. An agency may
not conduct or sponsor, and a
respondent is not required to respond
to, an information collection unless it
displays a currently valid Office of
Management and Budget (OMB) control
number. The OCC is soliciting comment
concerning its information collection
titled, ‘‘Privacy of Consumer Financial
Information (12 CFR part 40).’’ The OCC
is also giving notice that it has sent the
collection to OMB for review.
DATES: You should submit written
comments by February 12, 2010.
ADDRESSES: Communications Division,
Office of the Comptroller of the
Currency, Mailstop 2–3, Attention:
1557–0216, 250 E Street, SW.,
Washington, DC 20219. In addition,
comments may be sent by fax to (202)
874–5274, or by electronic mail to
regs.comments@occ.treas.gov. You may
personally inspect and photocopy the
comments at the OCC, 250 E Street,
SW., Washington, DC 20219. For
security reasons, the OCC requires that
visitors make an appointment to inspect
comments. You may do so by calling
(202) 874–4700. Upon arrival, visitors
will be required to present valid
government-issued photo identification
and to submit to security screening in
order to inspect and photocopy
comments.
Additionally, you should send a copy
of your comments by mail to OCC Desk
Officer, 1557–0216, U.S. Office of
Management and Budget, 725, 17th
VerDate Nov<24>2008
16:51 Jan 12, 2010
Jkt 220001
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 H.
Gottlieb, OCC Clearance Officer, (202)
874–5090, Legislative and Regulatory
Activities Division, 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: Privacy of Consumer Financial
Information (12 CFR part 40).
OMB Control No.: 1557–0216.
Description: This submission covers
an existing regulation and involves no
change to the regulation or to the
information collection requirements.
The OCC requests only that OMB
approve its revised estimates.
The information collection
requirements in part 40 are as follows:
§ 40.4(a)—Disclosure (institution)—
Initial privacy notice to consumers
requirement—A bank must provide a
clear and conspicuous notice that
accurately reflects its privacy policies
and practices to customers and
consumers.
§ 40.5(a)—Disclosure (institution)—
Annual privacy notice to customers
requirement—A bank must provide a
clear and conspicuous notice to
customers that accurately reflects its
privacy policies and practices not less
than annually during the continuation
of the customer relationship.
§ 40.8—Disclosure (institution)—
Revised privacy notices—If a bank
wishes to disclose information in a way
that is inconsistent with the notices
previously given to a consumer, the
bank must provide consumers with a
clear and conspicuous revised notice of
the bank’s policies and procedures and
a new opt out notice.
§ 40.7(a)—Disclosure (institution)—
Form of opt out notice to consumers; opt
out methods—Form of opt out notice—
If a bank is required to provide an optout notice under § 40.10(a), it must
provide a clear and conspicuous notice
to each of its consumers that accurately
explains the right to opt out under that
section. The notice must state:
• That the bank discloses or reserves
the right to disclose nonpublic personal
information about its consumer to a
nonaffiliated third party;
• That the consumer has the right to
opt out of that disclosure; and
• A reasonable means by which the
consumer may exercise the opt out
right.
A bank provides a reasonable means
to exercise an opt out right if it:
PO 00000
Frm 00093
Fmt 4703
Sfmt 4703
• Designates check-off boxes on the
relevant forms with the opt out notice;
• Includes a reply form with the opt
out notice;
• Provides electronic means to opt
out; or
• Provides a toll-free number to opt
out.
§§ 40.10(a)(2) and 40.10(c)—
Consumers must take affirmative
actions to exercise their rights to prevent
financial institutions from sharing their
information with nonaffiliated parties—
• Opt out—Consumers may direct
that the bank not disclose nonpublic
personal information about them to a
nonaffiliated third party, other than
permitted by §§ 40.13–40.15
• Partial opt out—Consumer may also
exercise partial opt out rights by
selecting certain nonpublic personal
information or certain nonaffiliated
third parties with respect to which the
consumer wishes to opt out.
§§ 40.7(f) and (g)—Reporting
(consumer)—Consumers may exercise
continuing right to opt out—Consumer
may opt out at any time—A consumer
may exercise the right to opt out at any
time. A consumer’s direction to opt out
is effective until the consumer revokes
it in writing or, if the consumer agrees,
electronically. When a customer
relationship terminates, the customer’s
opt out direction continues to apply.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses or other
for-profit; individuals.
Estimated Annual Number of
Institution Respondents: Initial Notice,
11; Annual Notice and Change in
Terms, 1,625; Opt-out Notice, 813.
Estimated Average Time per Response
Per Institution: Initial Notice, 80 hours;
Annual Notice and Change in Terms, 8
hours; Opt-out Notice, 8 hours.
Estimated Subtotal Annual Burden
Hours for Institutions: 20,384 hours.
Estimated Annual Number of
Consumer Respondents: 15,028,802.
Estimated Average Time per Consumer
Response: 0.25 hours.
Estimated Subtotal Annual Burden
Hours for Consumers: 3,757,200.5
hours.
Estimated Total Annual Burden
Hours: 3,777,584.5 hours.
The OCC issued a 60-day Federal
Register notice on November 3, 2009. 74
FR 56923. No comments were received.
Comments continue to be invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
OCC, including whether the information
has practical utility; (b) The accuracy of
the OCC’s estimate of the information
collection burden; (c) Ways to enhance
E:\FR\FM\13JAN1.SGM
13JAN1
Federal Register / Vol. 75, No. 8 / Wednesday, January 13, 2010 / Notices
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 start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
Dated: January 7, 2010.
Michele Meyer,
Assistant Director, Legislative and Regulatory
Activities Division.
[FR Doc. 2010–414 Filed 1–12–10; 8:45 am]
srobinson on DSKHWCL6B1PROD with NOTICES
BILLING CODE 4810–33–P
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16:51 Jan 12, 2010
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13JAN1
Agencies
[Federal Register Volume 75, Number 8 (Wednesday, January 13, 2010)]
[Notices]
[Pages 1840-1841]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-414]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Submission for OMB
Review; 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. An agency may not conduct or sponsor, and a respondent is not
required to respond to, an information collection unless it displays a
currently valid Office of Management and Budget (OMB) control number.
The OCC is soliciting comment concerning its information collection
titled, ``Privacy of Consumer Financial Information (12 CFR part 40).''
The OCC is also giving notice that it has sent the collection to OMB
for review.
DATES: You should submit written comments by February 12, 2010.
ADDRESSES: Communications Division, Office of the Comptroller of the
Currency, Mailstop 2-3, Attention: 1557-0216, 250 E Street, SW.,
Washington, DC 20219. In addition, comments may be sent by fax to (202)
874-5274, or by electronic mail to regs.comments@occ.treas.gov. You may
personally inspect and photocopy the comments at the OCC, 250 E Street,
SW., Washington, DC 20219. For security reasons, the OCC requires that
visitors make an appointment to inspect comments. You may do so by
calling (202) 874-4700. Upon arrival, visitors will be required to
present valid government-issued photo identification and to submit to
security screening in order to inspect and photocopy comments.
Additionally, you should send a copy of your comments by mail to
OCC Desk Officer, 1557-0216, 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 H. Gottlieb, OCC Clearance
Officer, (202) 874-5090, Legislative and Regulatory Activities
Division, 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: Privacy of Consumer Financial Information (12 CFR part 40).
OMB Control No.: 1557-0216.
Description: This submission covers an existing regulation and
involves no change to the regulation or to the information collection
requirements. The OCC requests only that OMB approve its revised
estimates.
The information collection requirements in part 40 are as follows:
Sec. 40.4(a)--Disclosure (institution)-- Initial privacy notice to
consumers requirement--A bank must provide a clear and conspicuous
notice that accurately reflects its privacy policies and practices to
customers and consumers.
Sec. 40.5(a)--Disclosure (institution)--Annual privacy notice to
customers requirement--A bank must provide a clear and conspicuous
notice to customers that accurately reflects its privacy policies and
practices not less than annually during the continuation of the
customer relationship.
Sec. 40.8--Disclosure (institution)-- Revised privacy notices--If
a bank wishes to disclose information in a way that is inconsistent
with the notices previously given to a consumer, the bank must provide
consumers with a clear and conspicuous revised notice of the bank's
policies and procedures and a new opt out notice.
Sec. 40.7(a)--Disclosure (institution)--Form of opt out notice to
consumers; opt out methods--Form of opt out notice--If a bank is
required to provide an opt-out notice under Sec. 40.10(a), it must
provide a clear and conspicuous notice to each of its consumers that
accurately explains the right to opt out under that section. The notice
must state:
That the bank discloses or reserves the right to disclose
nonpublic personal information about its consumer to a nonaffiliated
third party;
That the consumer has the right to opt out of that
disclosure; and
A reasonable means by which the consumer may exercise the
opt out right.
A bank provides a reasonable means to exercise an opt out right if
it:
Designates check-off boxes on the relevant forms with the
opt out notice;
Includes a reply form with the opt out notice;
Provides electronic means to opt out; or
Provides a toll-free number to opt out.
Sec. Sec. 40.10(a)(2) and 40.10(c)--Consumers must take
affirmative actions to exercise their rights to prevent financial
institutions from sharing their information with nonaffiliated
parties--
Opt out--Consumers may direct that the bank not disclose
nonpublic personal information about them to a nonaffiliated third
party, other than permitted by Sec. Sec. 40.13-40.15
Partial opt out--Consumer may also exercise partial opt
out rights by selecting certain nonpublic personal information or
certain nonaffiliated third parties with respect to which the consumer
wishes to opt out.
Sec. Sec. 40.7(f) and (g)--Reporting (consumer)--Consumers may
exercise continuing right to opt out--Consumer may opt out at any
time--A consumer may exercise the right to opt out at any time. A
consumer's direction to opt out is effective until the consumer revokes
it in writing or, if the consumer agrees, electronically. When a
customer relationship terminates, the customer's opt out direction
continues to apply.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses or other for-profit; individuals.
Estimated Annual Number of Institution Respondents: Initial Notice,
11; Annual Notice and Change in Terms, 1,625; Opt-out Notice, 813.
Estimated Average Time per Response Per Institution: Initial
Notice, 80 hours; Annual Notice and Change in Terms, 8 hours; Opt-out
Notice, 8 hours.
Estimated Subtotal Annual Burden Hours for Institutions: 20,384
hours.
Estimated Annual Number of Consumer Respondents: 15,028,802.
Estimated Average Time per Consumer Response: 0.25 hours.
Estimated Subtotal Annual Burden Hours for Consumers: 3,757,200.5
hours.
Estimated Total Annual Burden Hours: 3,777,584.5 hours.
The OCC issued a 60-day Federal Register notice on November 3,
2009. 74 FR 56923. No comments were received. Comments continue to be
invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the OCC, including whether the
information has practical utility; (b) The accuracy of the OCC's
estimate of the information collection burden; (c) Ways to enhance
[[Page 1841]]
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 start-
up costs and costs of operation, maintenance, and purchase of services
to provide information.
Dated: January 7, 2010.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 2010-414 Filed 1-12-10; 8:45 am]
BILLING CODE 4810-33-P