List of Countries Requiring Cooperation With an International Boycott, 39197 [2015-16681]

Download as PDF Federal Register / Vol. 80, No. 130 / Wednesday, July 8, 2015 / Notices srobinson on DSK5SPTVN1PROD with NOTICES subsidiary thereof regulated by a Federal banking agency or an employee of an institution regulated by the Farm Credit Administration (FCA) (collectively, Agency-Regulated Institutions), who engages in the business of a residential mortgage loan originator (MLO), to register with the Nationwide Mortgage Licensing System and Registry (Registry) and obtain a unique identifier. Pursuant to implementing regulations set forth at 12 CFR part 1007, Agency-Regulated Institutions must require their employees who act as residential MLOs to comply with the requirements to register and obtain a unique identifier under the S.A.F.E. Act and must adopt and follow written policies and procedures to assure compliance with these requirements. In order to register, an MLO must provide to the Registry identifying information, including: (1) Fingerprints for submission to the Federal Bureau of Investigation and any other relevant governmental agency for a State and national criminal background check; and (2) personal history and experience, including authorization for the Registry to obtain information related to any administrative, civil, or criminal findings by any governmental jurisdiction. The S.A.F.E. Act originally required the Federal banking agencies and the FCA to develop and maintain the Registry; however, the Dodd-Frank Act subsequently transferred that responsibility to the Consumer Financial Protection Bureau. The Registry is intended to aggregate and improve the flow of information to and between regulators; provide increased accountability and tracking of mortgage loan originators; enhance consumer protections; reduce fraud in the residential mortgage loan origination process; and provide consumers with easily accessible information at no charge regarding the employment history of, and the publicly adjudicated disciplinary and enforcement actions against, MLOs. MLO Reporting Requirements Twelve CFR 1007.103(a) generally requires an MLO of an AgencyRegulated Institution to register with the Registry, maintain such registration, and obtain a unique identifier. Under § 1007.103(b), an Agency-Regulated Institution must require each such registration to be renewed annually and updated within 30 days of the occurrence of specified events. Section 1007.103(d) sets forth the categories of information that an employee, or the employing institution on the employee’s behalf, must submit to the Registry, VerDate Sep<11>2014 18:49 Jul 07, 2015 Jkt 235001 along with the employee’s attestation as to the correctness of the information supplied and an authorization to obtain further information. MLO Disclosure Requirement Section 1007.105(b) requires an MLO to provide the unique identifier to a consumer upon request. Financial Institution Reporting Requirements Section 1007.103(e) specifies the institution and employee information that an institution must submit to the Registry in connection with the initial registration of one or more MLOs and thereafter update. Financial Institution Disclosure Requirements Section 1007.105(a) requires the institution to make the unique identifier of MLOs available to consumers in a manner and method practicable to the institution. Financial Institution Recordkeeping Requirements • Section 1007.103(d)(1)(xii) requires the collection of MLO fingerprints. • Section 1007.104 requires an institution employing MLOs to: Æ Adopt and follow written policies and procedures, at a minimum addressing certain specified areas, but otherwise appropriate to the nature, size, and complexity of their mortgage lending activities; Æ Establish reasonable procedures and tracking systems for monitoring registration compliance; and Æ Establish a process for, and maintain records related to, employee criminal history background reports and actions taken with respect thereto. Type of Review: Extension of a currently approved collection. Affected Public: Individuals; Businesses or other for-profit. Estimated Number of Respondents: 65,027. Estimated Total Annual Burden: 44,899 hours. The OCC issued a 60-day Federal Register notice regarding the collection on February 26, 2015, (80 FR 10566). 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; PO 00000 Frm 00148 Fmt 4703 Sfmt 4703 39197 (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: July 1, 2015. Mary H. Gottlieb, Regulatory Specialist, Legislative and Regulatory Activities Division. [FR Doc. 2015–16695 Filed 7–7–15; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Office of the Secretary List of Countries Requiring Cooperation With an International Boycott In accordance with section 999(a)(3) of the Internal Revenue Code of 1986, the Department of the Treasury is publishing a current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the Internal Revenue Code of 1986). On the basis of the best information currently available to the Department of the Treasury, the following countries require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the Internal Revenue Code of 1986). Iraq Kuwait Lebanon Libya Qatar Saudi Arabia Syria United Arab Emirates Yemen Dated: July 1, 2015. Danielle Rolfes, International Tax Counsel. (Tax Policy). [FR Doc. 2015–16681 Filed 7–7–15; 8:45 am] BILLING CODE 4810–25–P DEPARTMENT OF VETERANS AFFAIRS Solicitation of Nominations for Appointment to the Advisory Committee on Disability Compensation ACTION: Notice. The Department of Veterans Affairs (VA), Veterans Benefits SUMMARY: E:\FR\FM\08JYN1.SGM 08JYN1

Agencies

[Federal Register Volume 80, Number 130 (Wednesday, July 8, 2015)]
[Notices]
[Page 39197]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-16681]


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DEPARTMENT OF THE TREASURY

Office of the Secretary


List of Countries Requiring Cooperation With an International 
Boycott

    In accordance with section 999(a)(3) of the Internal Revenue Code 
of 1986, the Department of the Treasury is publishing a current list of 
countries which require or may require participation in, or cooperation 
with, an international boycott (within the meaning of section 999(b)(3) 
of the Internal Revenue Code of 1986).
    On the basis of the best information currently available to the 
Department of the Treasury, the following countries require or may 
require participation in, or cooperation with, an international boycott 
(within the meaning of section 999(b)(3) of the Internal Revenue Code 
of 1986).

Iraq
Kuwait
Lebanon
Libya
Qatar
Saudi Arabia
Syria
United Arab Emirates
Yemen

    Dated: July 1, 2015.
Danielle Rolfes,
International Tax Counsel. (Tax Policy).
[FR Doc. 2015-16681 Filed 7-7-15; 8:45 am]
 BILLING CODE 4810-25-P

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