Guidance on Deposit-Related Consumer Credit Products, 39989 [2011-16942]
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Federal Register / Vol. 76, No. 130 / Thursday, July 7, 2011 / Notices
for the proper performance of the
agencies’ functions, including whether
the information has practical utility;
(b) The accuracy of the agencies’
estimates of the burden of the
information collections as they are
proposed to be revised, including the
validity of the methodology and
assumptions used;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected;
(d) Ways to minimize the burden of
information collections 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.
Comments submitted in response to
this joint notice will be shared among
the agencies. All comments will become
a matter of public record.
Dated: June 29, 2011.
Michele Meyer,
Assistant Director, Legislative and Regulatory
Activities Division, Office of the Comptroller
of the Currency.
Board of Governors of the Federal Reserve
System, dated: June 30, 2011.
Jennifer J. Johnson,
Secretary of the Board.
Dated at Washington, DC, this 1st day of
July 2011.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
Dated: July 1, 2011.
Ira L. Mills,
Paperwork Clearance Officer, Office of Chief
Counsel, Office of Thrift Supervision.
[FR Doc. 2011–17100 Filed 7–6–11; 8:45 am]
BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P;
6720–01–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
[Docket ID OCC–2011–0012]
Guidance on Deposit-Related
Consumer Credit Products
Office of the Comptroller of the
Currency, Treasury (OCC).
ACTION: Extension of comment period.
sroberts on DSK5SPTVN1PROD with NOTICES
AGENCY:
On June 8, 2011, the OCC
published in the Federal Register a
proposed guidance with request for
comment to clarify the OCC’s
SUMMARY:
VerDate Mar<15>2010
16:26 Jul 06, 2011
Jkt 223001
application of the principles of safe and
sound banking practices in connection
with deposit-related consumer credit
products such as automated overdraft
protection and direct deposit advance
programs.
Due to the complexity of the proposed
guidance, and to allow parties more
time to consider its potential impact, the
OCC has determined that an extension
of the comment period until August 7,
2011 is appropriate. This action will
allow interested persons additional time
to analyze the proposed guidance and
prepare their comments.
DATES: Comments must be submitted on
or before August 7, 2011.
ADDRESSES: Because paper mail in the
Washington, DC area and at the OCC is
subject to delay, commenters are
encouraged to submit comments by email, if possible. Please use the title
‘‘Guidance on Deposit-Related
Consumer Credit Products’’ to facilitate
the organization and distribution of the
comments. You may submit comments
by any of the following methods:
• E-mail:
regs.comments@occ.treas.gov.
• Mail: Office of the Comptroller of
the Currency, 250 E Street, SW., Mail
Stop 2–3, Washington, DC 20219.
• Fax: (202) 874–5274.
• Hand Delivery/Courier: 250 E
Street, SW., Mail Stop 2–3, Washington,
DC 20219.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘Docket
ID OCC–2011–0012’’ in your comment.
In general, OCC will enter all comments
received into the docket and publish
them on the Regulations.gov Web site
without change, including any business
or personal information that you
provide such as name and address
information, e-mail addresses, or phone
numbers. Comments received, including
attachments and other supporting
materials, are part of the public record
and subject to public disclosure. Do not
enclose any information in your
comment or supporting materials that
you consider confidential or
inappropriate for public disclosure.
You may review comments and other
related materials that pertain to this
notice by any of the following methods:
• Viewing Comments Personally: You
may personally inspect and photocopy
comments at the OCC, 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) 874–4700. Upon arrival, visitors
PO 00000
Frm 00179
Fmt 4703
Sfmt 9990
39989
will be required to present valid
government-issued photo identification
and to submit to security screening in
order to inspect and photocopy
comments.
• Docket: You may also view or
request available background
documents and project summaries using
the methods described above.
FOR FURTHER INFORMATION CONTACT:
Michael S. Bylsma, Director,
Community and Consumer Law
Division, (202) 874–5750; Grovetta
Gardineer, Deputy Comptroller for
Compliance Policy, (202) 874–4428; or
Kevin Russell, Director, Retail Credit
Risk, (202) 874–5170, Office of the
Comptroller of the Currency, 250 E
Street, SW., Washington, DC 20219.
SUPPLEMENTARY INFORMATION: On June 8,
2011, the proposed guidance was
published in the Federal Register.1 The
proposed guidance would detail the
principles that the OCC expects national
banks to follow in connection with any
deposit-related consumer credit product
to address potential operational,
reputational, compliance, and credit
risks. The request for comment stated
that the public comment period would
close on July 8, 2011.2
Pursuant to Title III of the Dodd-Frank
Wall Street Reform and Consumer
Protection Act, effective July 21, 2011,
all functions of the Office of Thrift
Supervision (OTS) and the Director of
the OTS relating to Federal savings
associations is transferred to the OCC.
As a result, the OCC will assume
responsibilities for the ongoing
examination, supervision, and
regulation of Federal savings
associations. Any final guidance on
deposit-based credit products in effect
for national banks on or after July 21,
2011 will also apply to Federal savings
associations.
The OCC has received requests from
the public for an extension of the
comment period. In order to allow
parties, particularly Federal savings
associations, additional time to consider
the impact of the proposal, the OCC is
extending the deadline for submitting
comments on the proposed guidance
from July 8, 2011 to August 7, 2011.
Dated: June 30, 2011.
John Walsh,
Acting Comptroller of the Currency.
[FR Doc. 2011–16942 Filed 7–6–11; 8:45 am]
BILLING CODE 4810–33–P
1 See
2 See
E:\FR\FM\07JYN1.SGM
76 FR 33,409.
id.
07JYN1
Agencies
[Federal Register Volume 76, Number 130 (Thursday, July 7, 2011)]
[Notices]
[Page 39989]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-16942]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
[Docket ID OCC-2011-0012]
Guidance on Deposit-Related Consumer Credit Products
AGENCY: Office of the Comptroller of the Currency, Treasury (OCC).
ACTION: Extension of comment period.
-----------------------------------------------------------------------
SUMMARY: On June 8, 2011, the OCC published in the Federal Register a
proposed guidance with request for comment to clarify the OCC's
application of the principles of safe and sound banking practices in
connection with deposit-related consumer credit products such as
automated overdraft protection and direct deposit advance programs.
Due to the complexity of the proposed guidance, and to allow
parties more time to consider its potential impact, the OCC has
determined that an extension of the comment period until August 7, 2011
is appropriate. This action will allow interested persons additional
time to analyze the proposed guidance and prepare their comments.
DATES: Comments must be submitted on or before August 7, 2011.
ADDRESSES: Because paper mail in the Washington, DC area and at the OCC
is subject to delay, commenters are encouraged to submit comments by e-
mail, if possible. Please use the title ``Guidance on Deposit-Related
Consumer Credit Products'' to facilitate the organization and
distribution of the comments. You may submit comments by any of the
following methods:
E-mail: regs.comments@occ.treas.gov.
Mail: Office of the Comptroller of the Currency, 250 E
Street, SW., Mail Stop 2-3, Washington, DC 20219.
Fax: (202) 874-5274.
Hand Delivery/Courier: 250 E Street, SW., Mail Stop 2-3,
Washington, DC 20219.
Instructions: You must include ``OCC'' as the agency name and
``Docket ID OCC-2011-0012'' in your comment. In general, OCC will enter
all comments received into the docket and publish them on the
Regulations.gov Web site without change, including any business or
personal information that you provide such as name and address
information, e-mail addresses, or phone numbers. Comments received,
including attachments and other supporting materials, are part of the
public record and subject to public disclosure. Do not enclose any
information in your comment or supporting materials that you consider
confidential or inappropriate for public disclosure.
You may review comments and other related materials that pertain to
this notice by any of the following methods:
Viewing Comments Personally: You may personally inspect
and photocopy comments at the OCC, 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-
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.
Docket: You may also view or request available background
documents and project summaries using the methods described above.
FOR FURTHER INFORMATION CONTACT: Michael S. Bylsma, Director, Community
and Consumer Law Division, (202) 874-5750; Grovetta Gardineer, Deputy
Comptroller for Compliance Policy, (202) 874-4428; or Kevin Russell,
Director, Retail Credit Risk, (202) 874-5170, Office of the Comptroller
of the Currency, 250 E Street, SW., Washington, DC 20219.
SUPPLEMENTARY INFORMATION: On June 8, 2011, the proposed guidance was
published in the Federal Register.\1\ The proposed guidance would
detail the principles that the OCC expects national banks to follow in
connection with any deposit-related consumer credit product to address
potential operational, reputational, compliance, and credit risks. The
request for comment stated that the public comment period would close
on July 8, 2011.\2\
---------------------------------------------------------------------------
\1\ See 76 FR 33,409.
\2\ See id.
---------------------------------------------------------------------------
Pursuant to Title III of the Dodd-Frank Wall Street Reform and
Consumer Protection Act, effective July 21, 2011, all functions of the
Office of Thrift Supervision (OTS) and the Director of the OTS relating
to Federal savings associations is transferred to the OCC. As a result,
the OCC will assume responsibilities for the ongoing examination,
supervision, and regulation of Federal savings associations. Any final
guidance on deposit-based credit products in effect for national banks
on or after July 21, 2011 will also apply to Federal savings
associations.
The OCC has received requests from the public for an extension of
the comment period. In order to allow parties, particularly Federal
savings associations, additional time to consider the impact of the
proposal, the OCC is extending the deadline for submitting comments on
the proposed guidance from July 8, 2011 to August 7, 2011.
Dated: June 30, 2011.
John Walsh,
Acting Comptroller of the Currency.
[FR Doc. 2011-16942 Filed 7-6-11; 8:45 am]
BILLING CODE 4810-33-P