Agency Information Collection Activities; Information Collection Renewal; Reverse Mortgage Products: Guidance for Managing Compliance and Reputation Risks, 38450-38452 [2013-15293]

Download as PDF mstockstill on DSK4VPTVN1PROD with NOTICES 38450 Federal Register / Vol. 78, No. 123 / Wednesday, June 26, 2013 / Notices Affected Public: Private Sector: Businesses or other for-profits. Estimated Annual Burden Hours: 200. OMB Number: 1545–2031. Type of Review: Extension without change of a currently approved collection. Title: TD 9365—Railroad Track Maintenance Credit. Abstract: This document contains regulations that provide rules for claiming the railroad track maintenance credit under section 45G of the Internal Revenue Code for qualified railroad track maintenance expenditures paid or incurred by a Class II or Class III railroad and other eligible taxpayers during the taxable year. These regulations reflect changes to the law made by the American Jobs Creation Act of 2004 and the Gulf Opportunity Zone Act of 2005. Affected Public: Private Sector: Businesses or other for-profits. Estimated Annual Burden Hours: 1,375. OMB Number: 1545–2156. Type of Review: Extension without change of a currently approved collection. Title: Revenue Procedure 2010–13, Disclosure of Activities Grouped under Section 469. Abstract: This revenue procedure requires taxpayers to report to the Internal Revenue Service their groupings and regroupings of activities and the addition of specific activities within their existing groupings of activities for purposes of section 469 of the Internal Revenue Code and § 1.469– 4 of the Income Tax Regulations. Affected Public: Private Sector: Businesses or other for-profits. Estimated Annual Burden Hours: 39,000. OMB Number: 1545–2159. Type of Review: Extension without change of a currently approved collection. Title: Notice Concerning Fiduciary Relationship of Financial Institution. Form: 56–F. Abstract: The filing of Form 56–F by a fiduciary (FDIC or other federal agency acting as a receiver or conservator of a failed financial institution (bank or thrift) gives the IRS the necessary information to submit send letters, notices, and notices of tax liability to the federal fiduciary now in charge of the financial institution rather than sending the notice, etc. to the institution’s last known address. Affected Public: Private Sector: Businesses or other for-profits. VerDate Mar<15>2010 20:26 Jun 25, 2013 Jkt 229001 Estimated Annual Burden Hours: 997. Dawn D. Wolfgang, Treasury PRA Clearance Officer. [FR Doc. 2013–15263 Filed 6–25–13; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency FEDERAL DEPOSIT INSURANCE CORPORATION NATIONAL CREDIT UNION ADMINISTRATION Agency Information Collection Activities; Information Collection Renewal; Reverse Mortgage Products: Guidance for Managing Compliance and Reputation Risks Office of the Comptroller of the Currency, Treasury (OCC); Federal Deposit Insurance Corporation (FDIC); and National Credit Union Administration (NCUA). ACTION: Notice and request for comment. AGENCIES: The OCC, FDIC, and NCUA (the Agencies), are soliciting public comment on the renewal of a collection of information by the Agencies. Under the Paperwork Reduction Act of 1995 (PRA), Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, and to allow 60 days for public comment in response to the notice. The Agencies are soliciting comment concerning renewal of their information collection titled, ‘‘Reverse Mortgage Products: Guidance for Managing Compliance and Reputation Risks.’’ DATES: Comments must be received by August 26, 2013. ADDRESSES: OCC: 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. Comments may be sent to: Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, Attention: 1557–0246, 400 7th Street SW., Suite 3E–218, Mail Stop 9W–11, Washington, DC 20219. In addition, comments may be sent by fax to (571) 465–4326 or by electronic mail to regs.comments@occ.treas.gov. You may personally inspect and photocopy comments at the OCC, 400 7th Street SW., Washington, DC 20219. For SUMMARY: PO 00000 Frm 00166 Fmt 4703 Sfmt 4703 security reasons, the OCC requires that visitors make an appointment to inspect comments. You may do so by calling (202) 649–6700. 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. All 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. FDIC: Interested parties are invited to submit written comments. All comments should refer to the name of the collection, ‘‘Reverse Mortgage Products Guidance.’’ Comments may be submitted by any of the following methods: • http://www.fdic.gov/regulations/ laws/federal/notices.html. • Email: comments@fdic.gov. Include the name and number of the collection in the subject line of the message. • Mail: Gary A. Kuiper (202) 898– 3877, Counsel, Federal Deposit Insurance Corporation, NYA–5046, 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 7:00 a.m. and 5:00 p.m. A copy of the comments may also be submitted to the FDIC Desk Officer, Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, Washington, DC 20503. NCUA: You may submit comments by any of the following methods (Please send comments by one method only): • Federal eRulemaking Portal: http:// www.regulations.gov. Follow the instructions for submitting comments. • NCUA Web site: http:// www.ncua.gov/Resources/ RegulationsOpinionsLaws/ ProposedRegulations.aspx Follow the instructions for submitting comments. • Email: Address to regcomments@ncua.gov. Include ‘‘[Your name] Comments on Reverse Mortgage Products Guidance, ’’ in the email subject line. • Fax: (703) 518–6319. Use the subject line described above for email. • Mail: Address to Mary F. Rupp, Secretary of the Board, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314– 3428. • Hand Delivery/Courier: Same as mail address. E:\FR\FM\26JNN1.SGM 26JNN1 mstockstill on DSK4VPTVN1PROD with NOTICES Federal Register / Vol. 78, No. 123 / Wednesday, June 26, 2013 / Notices Public inspection: All public comments are available on the agency’s Web site at http://www.ncua.gov/ Resources/RegulationsOpinionsLaws/ ProposedRegulations.aspx as submitted, except as may not be possible for technical reasons. Public comments will not be edited to remove any identifying or contact information. Paper copies of comments may be inspected in NCUA’s law library, at 1775 Duke Street, Alexandria, Virginia 22314, by appointment weekdays between 9:00 a.m. and 3:00 p.m. To make an appointment, call (703) 518–6546 or send an email to OGC Mail @ncua.gov. Additionally, please send a copy of your comments by mail to: OMB Desk Officer, 1557–0246; 3064–0176; 3133– 0187, U.S. Office of Management and Budget, 725 17th Street NW., #10235, Washington, DC 20503, or by email to: oira submission@omb.eop.gov. FOR FURTHER INFORMATION CONTACT: OCC: You can request additional information or a copy of the information collection from Johnny Vilela or Mary H. Gottlieb, OCC Clearance Officers, (202) 649–5490, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW., Suite 3E–218, Mailstop 9W– 11, Washington, DC 20219. FDIC: Michael R. Evans, Fair Lending Specialist, Compliance Policy Section, Division of Supervision and Consumer Protection, (202) 898–6611; or Richard M. Schwartz, Counsel, (202) 898–7424, Legal Division, Federal Deposit Insurance Corporation, 550 17th Street NW., Washington, DC 20429. NCUA: Tracy Sumpter, Paperwork Clearance Officer, 703–518–6444, Office of the Chief Information Officer, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314. SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501–3520), Federal agencies must obtain approval from the Office of Management and Budget (OMB) for each collection of information they conduct or sponsor. ‘‘Collection of information’’ is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency requests or requirements that members of the public submit reports, keep records, or provide information to a third party. Section 3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A)) requires Federal agencies to provide a 60-day notice in the Federal Register concerning each proposed collection of information, including each proposed renewal of an existing collection of information, before submitting the collection to OMB for approval. To comply with this VerDate Mar<15>2010 20:26 Jun 25, 2013 Jkt 229001 requirement, the Agencies are publishing this notice of their intent to seek OMB PRA renewal for the information collection requirements contained in their guidance entitled ‘‘Reverse Mortgage Products: Guidance for Managing Compliance and Reputation Risks.’’ With respect to renewal of this collection of information, the Agencies invite comments on: (a) Whether the collection of information is necessary for the proper performance of the Federal banking agencies’ functions, including whether the information has practical utility; (b) The accuracy of the estimates of the burden of the information collection, 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 the information 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. The Agencies are proposing to extend OMB approval of the following information collection: Title of Information Collection: Reverse Mortgage Products: Guidance for Managing Compliance and Reputation Risks. OMB Control Numbers: 1557–0246; 3064–0176; and 3133–0187. Abstract: On December 16, 2009, the OCC, FDIC, FRB and NCUA sought comment on the guidance,1 and they issued it in final form on August 17, 2010.2 The guidance focused on the need to provide adequate information to consumers about reverse mortgage products; to provide qualified independent counseling to consumers considering these products; and to avoid potential conflicts of interest. It also addressed related policies, procedures, internal controls, and third party risk management. Prior to the effective date of the final guidance, the Agencies obtained PRA approval from OMB for the information collection requirements contained therein. These information collection requirements included implementation of policies and procedures, training, and program maintenance. The requirements are outlined below: 1 74 2 75 PO 00000 FR 66652. FR 50801. Frm 00167 Fmt 4703 Sfmt 4703 38451 • Institutions offering reverse mortgages should have written policies and procedures that prohibit the practice of directing a consumer to a particular counseling agency or contacting a counselor on the consumer’s behalf. • Policies should be clear so that originators do not have an inappropriate incentive to sell other products that appear linked to the granting of a mortgage. • Legal and compliance reviews should include oversight of compensation programs so that lending personnel are not improperly encouraged to direct consumers to particular products. • Training should be designed so that relevant lending personnel are able to convey information to consumers about product terms and risks in a timely, accurate, and balanced manner. The Agencies are now seeking renewal of the PRA approval granted by OMB for these information collection requirements. Affected Public: OCC: National banks, Federal savings associations, their subsidiaries, and Federal branches or agencies of foreign banks. FDIC: Insured state nonmember banks. NCUA: Federally-insured credit unions. Type of Review: Regular. Estimated Burden: OCC: Number of respondents: 97. Burden per respondent: 40 hours to implement policies and procedures and to provide training; 8 hours annually to maintain program. Total estimated annual burden: 4,656 hours. FDIC: Number of respondents: 48. Burden per respondent: 40 hours to implement policies and procedures and to provide training; 8 hours annually to maintain program. Total estimated annual burden: 2,304 hours. NCUA: Number of respondents: 85. Burden per respondent: 40 hours to implement policies and procedures and to provide training; 8 hours annually to maintain program. Total estimated annual burden: 4,080 hours. Dated: June 14, 2013. Michele Meyer, Assistant Director, Legislative and Regulatory Activities Division. Dated at Washington, DC, this 3rd day of June, 2013. E:\FR\FM\26JNN1.SGM 26JNN1 38452 Federal Register / Vol. 78, No. 123 / Wednesday, June 26, 2013 / Notices Federal Deposit Insurance Corporation. Robert E Feldman, Executive Secretary. Dated: June 20, 2013. By the National Credit Union Administration. Mary F. Rupp, Secretary of the Board. its expected cost and burden; it includes the actual data collection instrument. Comments must be submitted on or before July 26, 2013. Submit written comments on the collection of information through 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– 0736’’ in any correspondence. DEPARTMENT OF THE TREASURY FOR FURTHER INFORMATION CONTACT: United States Mint Price for the 2013 Girl Scouts of the USA Young Collector Set United States Mint, Department of the Treasury. ACTION: Notice. AGENCY: The United States Mint is announcing a price of $54.95 for the 2013 Girl Scouts of the USA Young Collector Set. FOR FURTHER INFORMATION CONTACT: Marc Landry, Acting Associate Director for Sales and Marketing; United States Mint; 801 9th Street NW.; Washington, DC 20220; or call 202–354–7500. SUMMARY: Authority: 31 U.S.C. 5111, 5112 & 9701; Pub. L. 111–86, sec. 6. Dated: June 20, 2013. Richard A. Peterson, Acting Director, United States Mint. [FR Doc. 2013–15269 Filed 6–25–13; 8:45 am] BILLING CODE 4810–37–P DEPARTMENT OF VETERANS AFFAIRS [OMB Control No. 2900–0736] Agency Information Collection (Authorization To Disclose Personal Beneficiary/Claimant Information to a Third Party) Activity Under OMB Review Veterans Benefits Administration, Department of Veterans Affairs. ACTION: Notice. AGENCY: 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 SUMMARY: mstockstill on DSK4VPTVN1PROD with NOTICES Agency Information Collection (VA Police Officer Pre-Employment Screening Checklist) Activities Under OMB Review ADDRESSES: BILLING CODE 4810–33–P– 6714–01–P; 7535–01–P; 20:26 Jun 25, 2013 [OMB Control No. 2900–0524] DATE: [FR Doc. 2013–15293 Filed 6–25–13; 8:45 am] VerDate Mar<15>2010 DEPARTMENT OF VETERANS AFFAIRS Jkt 229001 Crystal Rennie, Enterprise Records Service (005R1B), Department of Veterans Affairs, 810 Vermont Avenue NW., Washington, DC 20420, (202) 632– 7492, Fax (202) 632–7634 or via email at crystal.rennie@va.gov. Please refer to ‘‘OMB Control No. 2900–0736.’’ SUPPLEMENTARY INFORMATION: Title: Authorization to Disclose Personal Beneficiary/Claimant Information to a Third Party, VA Form 21–0845. OMB Control Number: 2900–0736. Type of Review: Extension of a currently approved collection. Abstract: VA Form 21–0845 will be used to release information in the following circumstances: where the individual identifies the particular information and consents to its use; for the purpose for which it was collected or a consistent purpose (i.e. a purpose which the individual might have reasonably expected). 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 February 26, 2013, at pages 13158– 13159. Affected Public: Individuals or households. Estimated Annual Burden: 1,667 hours. Estimated Average Burden per Respondent: 5 minutes. Frequency of Response: On occasion. Estimated Number of Respondents: 20,000. Dated: June 21, 2013. By direction of the Secretary. Crystal Rennie, VA Clearance Officer, U.S. Department of Veterans Affairs. [FR Doc. 2013–15231 Filed 6–25–13; 8:45 am] BILLING CODE 8320–01–P PO 00000 Frm 00168 Fmt 4703 Sfmt 4703 Office of Policy, Planning and Preparedness, Department of Veterans Affairs. ACTION: Notice. AGENCY: In compliance with the Paperwork Reduction Act (PRA) of 1995 (44 U.S.C. 3501–3521), this notice announces that the Office of Policy, Planning and Preparedness (OPP&P), Department of Veterans Affairs, will submit the collection of information as 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 July 26, 2013. ADDRESSES: Submit written comments on the collection of information through 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– 0524’’ in any correspondence. FOR FURTHER INFORMATION CONTACT: Crystal Rennie, Enterprise Records Service (005R1B), Department of Veterans Affairs, 810 Vermont Avenue NW., Washington, DC 20420, (202) 632– 7492, Fax (202) 632–7634 or email crystal.rennie@va.gov. Please refer to ‘‘OMB Control No. 2900–0524.’’ SUPPLEMENTARY INFORMATION: Title: VA Police Officer PreEmployment Screening Checklist. OMB Control Number: 2900–0524. Type of Review: Extension of a currently approved collection. Abstract: VA personnel use the form to document pre-employment history and conduct background checks on applicants seeking employment as VA police officers. VA will use the data collected to determine the applicant’s qualification and suitability to be hired as a VA police officer. 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 SUMMARY: E:\FR\FM\26JNN1.SGM 26JNN1

Agencies

[Federal Register Volume 78, Number 123 (Wednesday, June 26, 2013)]
[Notices]
[Pages 38450-38452]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-15293]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

FEDERAL DEPOSIT INSURANCE CORPORATION

NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities; Information Collection 
Renewal; Reverse Mortgage Products: Guidance for Managing Compliance 
and Reputation Risks

AGENCIES:  Office of the Comptroller of the Currency, Treasury (OCC); 
Federal Deposit Insurance Corporation (FDIC); and National Credit Union 
Administration (NCUA).

ACTION: Notice and request for comment.

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

SUMMARY: The OCC, FDIC, and NCUA (the Agencies), are soliciting public 
comment on the renewal of a collection of information by the Agencies. 
Under the Paperwork Reduction Act of 1995 (PRA), Federal agencies are 
required to publish notice in the Federal Register concerning each 
proposed collection of information, including each proposed extension 
of an existing collection of information, and to allow 60 days for 
public comment in response to the notice.
    The Agencies are soliciting comment concerning renewal of their 
information collection titled, ``Reverse Mortgage Products: Guidance 
for Managing Compliance and Reputation Risks.''

DATES: Comments must be received by August 26, 2013.

ADDRESSES: 
    OCC: 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. Comments may be sent to: Legislative and Regulatory 
Activities Division, Office of the Comptroller of the Currency, 
Attention: 1557-0246, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-
11, Washington, DC 20219. In addition, comments may be sent by fax to 
(571) 465-4326 or by electronic mail to regs.comments@occ.treas.gov. 
You may personally inspect and photocopy comments at the OCC, 400 7th 
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) 649-6700. 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.
    All 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.
    FDIC: Interested parties are invited to submit written comments. 
All comments should refer to the name of the collection, ``Reverse 
Mortgage Products Guidance.'' Comments may be submitted by any of the 
following methods:
     http://www.fdic.gov/regulations/laws/federal/notices.html.
     Email: comments@fdic.gov. Include the name and number of 
the collection in the subject line of the message.
     Mail: Gary A. Kuiper (202) 898-3877, Counsel, Federal 
Deposit Insurance Corporation, NYA-5046, 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 7:00 a.m. and 5:00 p.m.
    A copy of the comments may also be submitted to the FDIC Desk 
Officer, Office of Information and Regulatory Affairs, Office of 
Management and Budget, New Executive Office Building, Room 10235, 
Washington, DC 20503.
    NCUA: You may submit comments by any of the following methods 
(Please send comments by one method only):
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     NCUA Web site: http://www.ncua.gov/Resources/RegulationsOpinionsLaws/ProposedRegulations.aspx Follow the 
instructions for submitting comments.
     Email: Address to regcomments@ncua.gov. Include ``[Your 
name] Comments on Reverse Mortgage Products Guidance, '' in the email 
subject line.
     Fax: (703) 518-6319. Use the subject line described above 
for email.
     Mail: Address to Mary F. Rupp, Secretary of the Board, 
National Credit Union Administration, 1775 Duke Street, Alexandria, 
Virginia 22314-3428.
     Hand Delivery/Courier: Same as mail address.

[[Page 38451]]

    Public inspection: All public comments are available on the 
agency's Web site at http://www.ncua.gov/Resources/RegulationsOpinionsLaws/ProposedRegulations.aspx as submitted, except 
as may not be possible for technical reasons. Public comments will not 
be edited to remove any identifying or contact information. Paper 
copies of comments may be inspected in NCUA's law library, at 1775 Duke 
Street, Alexandria, Virginia 22314, by appointment weekdays between 
9:00 a.m. and 3:00 p.m. To make an appointment, call (703) 518-6546 or 
send an email to OGC Mail @ncua.gov.
    Additionally, please send a copy of your comments by mail to: OMB 
Desk Officer, 1557-0246; 3064-0176; 3133-0187, U.S. Office of 
Management and Budget, 725 17th Street NW., 10235, Washington, 
DC 20503, or by email to: oira submission@omb.eop.gov.

FOR FURTHER INFORMATION CONTACT:  OCC: You can request additional 
information or a copy of the information collection from Johnny Vilela 
or Mary H. Gottlieb, OCC Clearance Officers, (202) 649-5490, 
Legislative and Regulatory Activities Division, Office of the 
Comptroller of the Currency, 400 7th Street SW., Suite 3E-218, Mailstop 
9W-11, Washington, DC 20219.
    FDIC: Michael R. Evans, Fair Lending Specialist, Compliance Policy 
Section, Division of Supervision and Consumer Protection, (202) 898-
6611; or Richard M. Schwartz, Counsel, (202) 898-7424, Legal Division, 
Federal Deposit Insurance Corporation, 550 17th Street NW., Washington, 
DC 20429.
    NCUA: Tracy Sumpter, Paperwork Clearance Officer, 703-518-6444, 
Office of the Chief Information Officer, National Credit Union 
Administration, 1775 Duke Street, Alexandria, VA 22314.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal 
agencies must obtain approval from the Office of Management and Budget 
(OMB) for each collection of information they conduct or sponsor. 
``Collection of information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 
1320.3(c) to include agency requests or requirements that members of 
the public submit reports, keep records, or provide information to a 
third party.
    Section 3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A)) requires 
Federal agencies to provide a 60-day notice in the Federal Register 
concerning each proposed collection of information, including each 
proposed renewal of an existing collection of information, before 
submitting the collection to OMB for approval. To comply with this 
requirement, the Agencies are publishing this notice of their intent to 
seek OMB PRA renewal for the information collection requirements 
contained in their guidance entitled ``Reverse Mortgage Products: 
Guidance for Managing Compliance and Reputation Risks.''
    With respect to renewal of this collection of information, the 
Agencies invite comments on:
    (a) Whether the collection of information is necessary for the 
proper performance of the Federal banking agencies' functions, 
including whether the information has practical utility;
    (b) The accuracy of the estimates of the burden of the information 
collection, 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 the information 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.
    The Agencies are proposing to extend OMB approval of the following 
information collection:
    Title of Information Collection: Reverse Mortgage Products: 
Guidance for Managing Compliance and Reputation Risks.
    OMB Control Numbers: 1557-0246; 3064-0176; and 3133-0187.
    Abstract: On December 16, 2009, the OCC, FDIC, FRB and NCUA sought 
comment on the guidance,\1\ and they issued it in final form on August 
17, 2010.\2\ The guidance focused on the need to provide adequate 
information to consumers about reverse mortgage products; to provide 
qualified independent counseling to consumers considering these 
products; and to avoid potential conflicts of interest. It also 
addressed related policies, procedures, internal controls, and third 
party risk management.
---------------------------------------------------------------------------

    \1\ 74 FR 66652.
    \2\ 75 FR 50801.
---------------------------------------------------------------------------

    Prior to the effective date of the final guidance, the Agencies 
obtained PRA approval from OMB for the information collection 
requirements contained therein. These information collection 
requirements included implementation of policies and procedures, 
training, and program maintenance. The requirements are outlined below:
     Institutions offering reverse mortgages should have 
written policies and procedures that prohibit the practice of directing 
a consumer to a particular counseling agency or contacting a counselor 
on the consumer's behalf.
     Policies should be clear so that originators do not have 
an inappropriate incentive to sell other products that appear linked to 
the granting of a mortgage.
     Legal and compliance reviews should include oversight of 
compensation programs so that lending personnel are not improperly 
encouraged to direct consumers to particular products.
     Training should be designed so that relevant lending 
personnel are able to convey information to consumers about product 
terms and risks in a timely, accurate, and balanced manner.
    The Agencies are now seeking renewal of the PRA approval granted by 
OMB for these information collection requirements.
    Affected Public:
    OCC: National banks, Federal savings associations, their 
subsidiaries, and Federal branches or agencies of foreign banks.
    FDIC: Insured state nonmember banks.
    NCUA: Federally-insured credit unions.
    Type of Review: Regular.
    Estimated Burden:
    OCC:
    Number of respondents: 97.
    Burden per respondent: 40 hours to implement policies and 
procedures and to provide training; 8 hours annually to maintain 
program.
    Total estimated annual burden: 4,656 hours.
    FDIC:
    Number of respondents: 48.
    Burden per respondent: 40 hours to implement policies and 
procedures and to provide training; 8 hours annually to maintain 
program.
    Total estimated annual burden: 2,304 hours.
    NCUA:
    Number of respondents: 85.
    Burden per respondent: 40 hours to implement policies and 
procedures and to provide training; 8 hours annually to maintain 
program.
    Total estimated annual burden: 4,080 hours.

    Dated: June 14, 2013.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
    Dated at Washington, DC, this 3rd day of June, 2013.


[[Page 38452]]


Federal Deposit Insurance Corporation.
Robert E Feldman,
Executive Secretary.
    Dated: June 20, 2013.

    By the National Credit Union Administration.
Mary F. Rupp,
Secretary of the Board.
[FR Doc. 2013-15293 Filed 6-25-13; 8:45 am]
BILLING CODE 4810-33-P- 6714-01-P; 7535-01-P;