Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Procedures To Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies Under the Fair and Accurate Credit Transactions Act, 56549-56550 [2015-23403]

Download as PDF Federal Register / Vol. 80, No. 181 / Friday, September 18, 2015 / Notices tkelley on DSK3SPTVN1PROD with NOTICES the sample Call Report forms and the Call Report instruction book for report dates before March 31, 2015, the caption for item 45 and the instructions for this item both indicated that, effective for report dates on or after January 1, 2015, advanced approaches institutions should begin to report their SLR in the Call Report as calculated for purposes of Schedule A, item 98, of the FFIEC 101, Regulatory Capital Reporting for Institutions Subject to the Advanced Capital Adequacy Framework.20 However, the agencies temporarily suspended the collection of Schedule RC–R, Part I, item 45, before it took effect March 31, 2015, due to amendments to the SLR rule21 and the need for updates to the associated SLR data collection in the FFIEC 101. The agencies have finalized the most recent revisions to the SLR rule, which requires all advanced approaches institutions to disclose three items: the numerator of the SLR (Tier 1 capital, which is already reported in Call Report Schedule RC–R), the denominator of the SLR (total leverage exposure), and the ratio itself.22 As part of the revisions to the FFIEC 101, the SLR section of the FFIEC 101 will apply only to top-tier advanced approaches institutions (generally, bank and savings and loan holding companies), and not to their subsidiary depository institutions. Therefore, lower tier advanced approaches depository institutions generally will not report SLR data in the FFIEC 101, and will need to do so in the Call Report, which would satisfy the SLR disclosure requirement in the revised SLR rule.23 Thus, the agencies are proposing to add a new item 45.a to Schedule RC–R, Part I, in which an advanced approaches depository institution (regardless of year-end regulatory report equal to $10 billion or more (excluding exposures held by an insurance underwriting subsidiary); (iii) is a subsidiary of a depository institution that uses the advanced approaches to calculate its total risk-weighted assets; (iv) is a subsidiary of a bank holding company or savings and loan holding company that uses the advanced approaches to calculate its total risk-weighted assets; or (v) elects to use the advanced approaches to calculate its total riskweighted assets. 20 OMB numbers: For the OCC, 1557–0239; for the Board, 7100–0319; and for the FDIC, 3064–0159. 21 See 79 FR 57725 (September 26, 2014). The amendments to the SLR rule took effect January 1, 2015. 22 See 80 FR 41409 (July 15, 2015). The disclosure requirement is set forth in the agencies’ regulatory capital rules (12 CFR 3.172 (OCC); 12 CFR 217.172 (Board), and 12 CFR 324.172 (FDIC)). 23 Because certain depository institutions are exempt from filing the FFIEC 101, but must still report their SLR components and ratio, the agencies are proposing the depository institution-level collection of SLR data in the Call Report rather than in the FFIEC 101. VerDate Sep<11>2014 18:47 Sep 17, 2015 Jkt 235001 parallel run status) would report total leverage exposure as calculated under the agencies’ SLR rule. The agencies also are proposing to renumber current item 45 of Schedule RC–R, Part I, as item 45.b, to collect an institution’s SLR. The ratio to be reported in item 45.b would equal Tier 1 capital reported on Schedule RC–R, Part I, item 26, divided by total leverage exposure reported in proposed item 45.a. Renumbered item 45.b would no longer reference the FFIEC 101 because lower tier depository institutions would no longer be calculating or reporting their SLRs on the FFIEC 101. The reporting of the proposed SLR information would take effect March 31, 2016. IV. Request for Comment Public comment is requested on all aspects of this joint notice. Comments are invited on: (a) Whether the proposed revisions to the collections of information that are the subject of this notice are necessary 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: September 8, 2015. Stuart Feldstein, Director, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency. Dated: September 11, 2015. Michael Lewandowski, Associate Secretary of the Board, Board of Governors of the Federal Reserve System. Dated at Washington, DC, this 9th day of September, 2015. Robert E. Feldman, Executive Secretary, Federal Deposit Insurance Corporation. [FR Doc. 2015–23402 Filed 9–17–15; 8:45 am] BILLING CODE 4810–33P; 6210–01–P; 6714–01–P PO 00000 Frm 00113 Fmt 4703 Sfmt 4703 56549 DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Procedures To Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies Under the Fair and Accurate Credit Transactions Act Office of the Comptroller of the Currency, Treasury. ACTION: ACTION: Notice and request for comment. AGENCY: 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 OMB control number. The OCC is soliciting comment concerning the renewal of its information collection titled, ‘‘Procedures to Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies under the Fair and Accurate Credit Transactions Act (FACT Act).’’ The OCC also is giving notice that it has sent the collection to OMB for review. DATES: Comments must be received by October 19, 2015. 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. Comments may be sent to: Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, Attention: 1557–0238, 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 prainfo@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 or, for persons who are deaf or hard of hearing, TTY, (202) 649–5597. Upon arrival, visitors will be required to present valid government-issued photo identification and submit to security screening in SUMMARY: E:\FR\FM\18SEN1.SGM 18SEN1 tkelley on DSK3SPTVN1PROD with NOTICES 56550 Federal Register / Vol. 80, No. 181 / Friday, September 18, 2015 / Notices 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 include any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure. Additionally, please send a copy of your comments by mail to: OCC Desk Officer, 1557–0238, 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: Shaquita Merritt, OCC Clearance Officer, (202) 649–5490, for persons who are deaf or hard of hearing, TTY, (202) 649–5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW., Washington, DC 20219. SUPPLEMENTARY INFORMATION: The OCC is requesting that OMB extend its approval of this collection of information. Title: Procedures to Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies under Section 312 of the Fair and Accurate Credit Transactions Act (FACT Act). OMB Control No.: 1557–0238. Description: Section 312 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act) requires the issuance of (1) guidelines for use by furnishers regarding the accuracy and integrity of the information about consumers that they furnish to consumer reporting agencies and (2) regulations requiring furnishers to establish reasonable policies and procedures for implementing the guidelines. Section 312 also requires the issuance of regulations identifying the circumstances under which a furnisher must reinvestigate disputes about the accuracy of information contained in a consumer report based on a direct request from a consumer. Twelve CFR 1022.42(a) requires furnishers to establish and implement reasonable written policies and procedures regarding the accuracy and integrity of consumer information that they provide to a consumer reporting agency (CRA). Twelve CFR 1022.43(a) permits consumers to initiate disputes directly with the furnishers in certain circumstances. Furnishers are required to have procedures to ensure that disputes received directly from consumers are handled in a VerDate Sep<11>2014 19:35 Sep 17, 2015 Jkt 235001 substantially similar manner to those complaints received through CRAs. Twelve 1022.43(f)(2) incorporates the statutory requirement that a furnisher must notify a consumer by mail or other means (if authorized by the consumer) not later than five business days after making a determination that a dispute is frivolous or irrelevant. Twelve CFR 1022.43(f) incorporates the statute’s content requirements for the notices. Type of Review: Extension of a currently approved collection. Affected Public: Businesses or other for-profit. Estimated Number of Respondents: 1,464 respondents. Estimated Total Annual Burden: 185,443 hours. A 60-day Federal Register notice concerning this collection of information was published on July 7, 2015, 80 FR 38808. 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. FOR FURTHER INFORMATION CONTACT: Dated: September 14, 2015. Mary H. Gottlieb, Regulatory Specialist, Legislative and Regulatory Activities Division. Dated: September 8, 2015. Kevin McIntyre, Manager, Financial Accounting and Services Branch, Bureau of the Fiscal Service. [FR Doc. 2015–23403 Filed 9–17–15; 8:45 am] BILLING CODE P Surety Bond Branch at (202) 874–6850. A Certificate of Authority as an acceptable surety on Federal bonds is hereby issued under 31 U.S.C. 9305 to the following company: SUPPLEMENTARY INFORMATION: Berkshire Hathaway Specialty Insurance Company (NAIC # 22276). BUSINESS ADDRESS: 3024 Harney Street, Omaha, NE., 68131–3580. PHONE: (402) 916–3000. UNDERWRITING LIMITATION b/: $323,414,000. SURETY LICENSES c/: AL, AR, CO, FL, ID, IN, IA, ME, MD, MN, MT, NE., NJ, NC, ND, PA, RI, SD, TX, UT, VT,WV, WI, WY. INCORPORATED IN: Nebraska. Federal bond-approving officers should annotate their reference copies of the Treasury Circular 570 (‘‘Circular’’), 2015 Revision, to reflect this addition. Certificates of Authority expire on June 30th each year, unless revoked prior to that date. The Certificates are subject to subsequent annual renewal as long as the companies remain qualified (see 31 CFR part 223). A list of qualified companies is published annually as of July 1st in the Circular, which outlines details as to the underwriting limitations, areas in which companies are licensed to transact surety business, and other information. The Circular may be viewed and downloaded through the Internet at http://www.fiscal.treasury.gov/fsreports/ ref/suretyBnd/surety_home.htm. Questions concerning this notice may be directed to the U.S. Department of the Treasury, Bureau of the Fiscal Service, Surety Bond Branch, 3700 EastWest Highway, Room 6D22, Hyattsville, MD 20782. [FR Doc. 2015–23446 Filed 9–17–15; 8:45 am] BILLING CODE 4810–35–P DEPARTMENT OF THE TREASURY Fiscal Service DEPARTMENT OF VETERANS AFFAIRS Surety Companies Acceptable on Federal Bonds: Berkshire Hathaway Specialty Insurance Company Publication of Choice Act Section 201 Independent Assessments Bureau of the Fiscal Service, Fiscal Service, Department of the Treasury. ACTION: Notice. ACTION: AGENCY: This is Supplement No. 2 to the Treasury Department Circular 570, 2015 Revision, published July 1, 2015, at 80 FR 37735. SUMMARY: PO 00000 Frm 00114 Fmt 4703 Sfmt 4703 Department of Veterans Affairs. Notice. AGENCY: The Department of Veterans Affairs (VA), the Commission on Care, the Senate Veterans’ Affairs Committee, and the House Veterans’ Affairs Committee have received the final report on the independent assessment of VA health care processes as required SUMMARY: E:\FR\FM\18SEN1.SGM 18SEN1

Agencies

[Federal Register Volume 80, Number 181 (Friday, September 18, 2015)]
[Notices]
[Pages 56549-56550]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-23403]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Submission for OMB Review; Procedures To Enhance the Accuracy 
and Integrity of Information Furnished to Consumer Reporting Agencies 
Under the Fair and Accurate Credit Transactions Act

AGENCY: Office of the Comptroller of the Currency, Treasury.

ACTION: 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 OMB control number.
    The OCC is soliciting comment concerning the renewal of its 
information collection titled, ``Procedures to Enhance the Accuracy and 
Integrity of Information Furnished to Consumer Reporting Agencies under 
the Fair and Accurate Credit Transactions Act (FACT Act).'' The OCC 
also is giving notice that it has sent the collection to OMB for 
review.

DATES: Comments must be received by October 19, 2015.

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. Comments may be sent to: Legislative and Regulatory 
Activities Division, Office of the Comptroller of the Currency, 
Attention: 1557-0238, 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 prainfo@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 or, for persons who are deaf or hard of hearing, 
TTY, (202) 649-5597. Upon arrival, visitors will be required to present 
valid government-issued photo identification and submit to security 
screening in

[[Page 56550]]

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 include any information in your comment or 
supporting materials that you consider confidential or inappropriate 
for public disclosure.
    Additionally, please send a copy of your comments by mail to: OCC 
Desk Officer, 1557-0238, 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: Shaquita Merritt, OCC Clearance 
Officer, (202) 649-5490, for persons who are deaf or hard of hearing, 
TTY, (202) 649-5597, Legislative and Regulatory Activities Division, 
Office of the Comptroller of the Currency, 400 7th Street SW., 
Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is requesting that OMB extend its 
approval of this collection of information.
    Title: Procedures to Enhance the Accuracy and Integrity of 
Information Furnished to Consumer Reporting Agencies under Section 312 
of the Fair and Accurate Credit Transactions Act (FACT Act).
    OMB Control No.: 1557-0238.
    Description: Section 312 of the Fair and Accurate Credit 
Transactions Act of 2003 (FACT Act) requires the issuance of (1) 
guidelines for use by furnishers regarding the accuracy and integrity 
of the information about consumers that they furnish to consumer 
reporting agencies and (2) regulations requiring furnishers to 
establish reasonable policies and procedures for implementing the 
guidelines. Section 312 also requires the issuance of regulations 
identifying the circumstances under which a furnisher must 
reinvestigate disputes about the accuracy of information contained in a 
consumer report based on a direct request from a consumer.
    Twelve CFR 1022.42(a) requires furnishers to establish and 
implement reasonable written policies and procedures regarding the 
accuracy and integrity of consumer information that they provide to a 
consumer reporting agency (CRA).
    Twelve CFR 1022.43(a) permits consumers to initiate disputes 
directly with the furnishers in certain circumstances. Furnishers are 
required to have procedures to ensure that disputes received directly 
from consumers are handled in a substantially similar manner to those 
complaints received through CRAs.
    Twelve 1022.43(f)(2) incorporates the statutory requirement that a 
furnisher must notify a consumer by mail or other means (if authorized 
by the consumer) not later than five business days after making a 
determination that a dispute is frivolous or irrelevant. Twelve CFR 
1022.43(f) incorporates the statute's content requirements for the 
notices.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 1,464 respondents.
    Estimated Total Annual Burden: 185,443 hours.
    A 60-day Federal Register notice concerning this collection of 
information was published on July 7, 2015, 80 FR 38808. 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 14, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2015-23403 Filed 9-17-15; 8:45 am]
BILLING CODE P