Proposed Collection; Comment Request for Regulation Project, 59453-59454 [2012-23724]
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Federal Register / Vol. 77, No. 188 / Thursday, September 27, 2012 / Notices
specific forms of activity that indicate
the possible existence of identity theft.
The guidelines must be updated as often
as necessary, and must be consistent
with the policies and procedures
required under section 326 of the USA
PATRIOT Act, 31 U.S.C. 5318(l).
• Regulations requiring each financial
institution and each creditor to establish
reasonable policies and procedures for
implementing the guidelines in order to
identify possible risks to account
holders or customers or to the safety and
soundness of the institution or creditor.
• Regulations generally requiring
credit and debit card issuers to assess
the validity of change of address
requests under certain circumstances.
Section 315 of the FACT Act also
amended section 605 of the FCRA to
require the Agencies to issue regulations
providing guidance regarding what
reasonable policies and procedures a
user of consumer reports must have in
place and employ when a user receives
a notice of address discrepancy from a
consumer reporting agency (CRA).2
These regulations are required to
describe reasonable policies and
procedures for users of consumer
reports to:
• Enable a user to form a reasonable
belief that it knows the identity of the
person for whom it has obtained a
consumer report, and
• Reconcile the address of the
consumer with the CRA, if the user
establishes a continuing relationship
with the consumer and regularly and, in
the ordinary course of business,
furnishes information to the CRA.
As required by section 114 of the
FACT Act, appendix J to 12 CFR part 41
contains guidelines for financial
institutions and creditors to use in
identifying patterns, practices, and
specific forms of activity that indicate
the possible existence of identity theft.
In addition, 12 CFR 41.90 requires each
financial institution or creditor that is a
national bank, Federal branch or agency
of a foreign bank, and any of their
operating subsidiaries that are not
functionally regulated, to establish
reasonable policies and procedures to
address the risk of identity theft that
incorporate the guidelines. Pursuant to
§ 41.91, credit card and debit card
issuers must implement reasonable
policies and procedures to assess the
validity of a request for a change of
address under certain circumstances.
Section 41.90 requires each OCCregulated financial institution or
creditor that offers or maintains one or
more covered accounts to develop and
2 As noted above, these regulations have been
transferred to the CFPB.
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implement a written Identity Theft
Prevention Program (Program). In
developing the Program, financial
institutions and creditors are required to
consider the guidelines in appendix J
and include the suggested provisions as
appropriate. The initial Program must
be approved by the institution’s board of
directors or an appropriate committee
thereof. The board, an appropriate
committee thereof, or a designated
employee at the level of senior
management must be involved in the
oversight of the Program. In addition,
staff members must be trained to carry
out the Program. Pursuant to § 41.91,
each credit and debit card issuer is
required to establish and implement
policies and procedures to assess the
validity of a change of address request
if it is followed by a request for an
additional or replacement card. Before
issuing the additional or replacement
card, the card issuer must notify the
cardholder of the request and provide
the cardholder a reasonable means to
report incorrect address changes or use
another means to assess the validity of
the change of address.
As required by section 315 of the
FACT Act, § 1022.82 requires users of
consumer reports to have in place
reasonable policies and procedures that
must be followed when a user receives
a notice of address discrepancy from a
credit reporting agency (CRA).
Section 1022.82 requires each user of
consumer reports to develop and
implement reasonable policies and
procedures designed to enable the user
to form a reasonable belief that a
consumer report relates to the consumer
about whom it requested the report
when it receives a notice of address
discrepancy from a CRA. A user of
consumer reports also must develop and
implement reasonable policies and
procedures for furnishing an address for
the consumer that the user has
reasonably confirmed to be accurate to
the CRA from which it receives a notice
of address discrepancy when the user
can: (1) Form a reasonable belief that the
consumer report relates to the consumer
about whom the user has requested the
report; (2) establish a continuing
relationship with the consumer and; (3)
establish that it regularly and in the
ordinary course of business furnishes
information to the CRA from which it
received the notice of address
discrepancy.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals;
Businesses or other for-profit.
Estimated Number of Respondents:
2,010.
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59453
Estimated Total Annual Burden:
223,860 hours.
This collection was published for 60
days of comment on May 25, 2012. 77
FR 31439. 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 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 start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
Dated: September 19, 2012.
Michele Meyer,
Assistant Director, Legislative and Regulatory
Activities Division.
[FR Doc. 2012–23745 Filed 9–26–12; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Regulation Project
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Department of the
Treasury, 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 proposed
and/or continuing information
collections, as required by the
Paperwork Reduction Act of 1995,
Public Law 104–13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is
soliciting comments concerning
distributions of stock and stock rights.
DATES: Written comments should be
received on or before November 26,
2012 to be assured of consideration.
ADDRESSES: Direct all written comments
to Yvette Lawrence, Internal Revenue
Service, Room 6129, 1111 Constitution
Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the regulation should be
SUMMARY:
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27SEN1
59454
Federal Register / Vol. 77, No. 188 / Thursday, September 27, 2012 / Notices
or start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
SUPPLEMENTARY INFORMATION:
erowe on DSK2VPTVN1PROD with
directed to Allan Hopkins, at (202) 622–
6665, or at Internal Revenue Service,
Room 6129, 1111 Constitution Avenue
NW., Washington, DC 20224, or through
the internet, at
Allan.M.Hopkins@irs.gov.
[FR Doc. 2012–23724 Filed 9–26–12; 8:45 am]
Title: Distributions of Stock and Stock
Rights.
OMB Number: 1545–1438.
Regulation Project Number: CO–8–91.
Abstract: The requested information
is required to notify the Service that a
holder of preferred stock callable at a
premium by the issuer has made a
determination regarding the likelihood
of exercise of the right to call that is
different from the issuer’s
determination.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, and business or other forprofit organizations.
Estimated Number of Respondents:
2,000.
Estimated Time per Respondent: 10
minutes.
Estimated Total Annual Burden
Hours: 333.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or 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 of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and (e) estimates of capital
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15:00 Sep 26, 2012
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Approved: September 21, 2012.
Allan Hopkins,
Tax Analyst.
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Regulation Project
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Department of the
Treasury, 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 proposed
and/or continuing information
collections, as required by the
Paperwork Reduction Act of 1995,
Public Law 104–13(44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is
soliciting comments concerning
modifications of commercial mortgage
loans held by a real estate mortgage
investment conduit.
DATES: Written comments should be
received on or before November 26,
2012 to be assured of consideration.
ADDRESSES: Direct all written comments
to Yvette Lawrence, Internal Revenue
Service, Room 6129, 1111 Constitution
Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the regulations should be
directed to Allan Hopkins at Internal
Revenue Service, Room 6129, 1111
Constitution Avenue NW., Washington,
DC 20224, or at (202) 622–6665, or
through the internet at
Allan.M.Hopkins@irs.gov.
SUMMARY:
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
200.
Estimated Time per Respondent: 15
hours.
Estimated Total Annual Burden
Hours: 3,000.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or 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 of
information 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.
Approved: September 21, 2012.
Allan Hopkins,
Tax Analyst.
SUPPLEMENTARY INFORMATION:
[FR Doc. 2012–23725 Filed 9–26–12; 8:45 am]
Title: Environmental Settlement
Funds-Classification.
OMB Number: 1545–2110.
Regulation Project Number: REG–
127770–07.
Abstract: This final regulation would
expand the list of permitted loan
modifications to include certain
modifications of commercial mortgages.
Changes to the regulations are necessary
to better accommodate evolving
commercial mortgage industry packages
Current Actions: There is no change to
this existing regulation.
BILLING CODE 4830–01–P
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Notice 2009–26
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
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]]>Agencies
[Federal Register Volume 77, Number 188 (Thursday, September 27, 2012)]
[Notices]
[Pages 59453-59454]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-23724]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Regulation Project
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury, 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 proposed and/or continuing information collections, as required by
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning
distributions of stock and stock rights.
DATES: Written comments should be received on or before November 26,
2012 to be assured of consideration.
ADDRESSES: Direct all written comments to Yvette Lawrence, Internal
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulation should be
[[Page 59454]]
directed to Allan Hopkins, at (202) 622-6665, or at Internal Revenue
Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224,
or through the internet, at Allan.M.Hopkins@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Distributions of Stock and Stock Rights.
OMB Number: 1545-1438.
Regulation Project Number: CO-8-91.
Abstract: The requested information is required to notify the
Service that a holder of preferred stock callable at a premium by the
issuer has made a determination regarding the likelihood of exercise of
the right to call that is different from the issuer's determination.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, and business or other
for-profit organizations.
Estimated Number of Respondents: 2,000.
Estimated Time per Respondent: 10 minutes.
Estimated Total Annual Burden Hours: 333.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or 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 of
information 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.
Approved: September 21, 2012.
Allan Hopkins,
Tax Analyst.
[FR Doc. 2012-23724 Filed 9-26-12; 8:45 am]
BILLING CODE 4830-01-P
