Agency Information Collection Activities: Information Collection Renewal; Comment Request; Consumer Protections for Depository Institution Sales of Insurance, 10363-10364 [2016-04266]

Download as PDF asabaliauskas on DSK5VPTVN1PROD with NOTICES Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Notices costs, program income, annual audit, payment procedures, de-obligation of federal assistance, debt service reserve, and the right to terminate. While retaining much of the information found in FTA Circular 5010.1D, substantive proposed changes include the following: Due to the emphasis on having adequate internal controls under the Uniform Guidance, FTA has added more detailed information to assure that transactions are properly executed, funds are safeguarded, and records are adequately created and maintained. The discussion of non-federal share now lists some sources of non-federal share, noting that the type of federal assistance awarded determines their eligibility as matching funds. Proposed Chapter VI adds to the information in FTA Circular 5010.1D pertaining to indirect costs. Proposed Chapter VI now states that OMB assigns cognizant agencies for state and local governments. U.S. DOT is the cognizant agency for determining indirect costs for transit districts. In addition, proposed Chapter VI now provides extensive instructions on how to report indirect costs. Proposed Chapter VI expands the discussion of how program income is to be used and now includes a chart illustrating those requirements. License fees and royalties derived from patents and copyrights, as well as advertising and concession fees are now expressly acknowledged to be program income. Proposed Chapter VI amends the information regarding the annual ‘‘Single Audit’’ to note that the single audit threshold has been changed from $500,000 to $750,000, as required by 2 CFR part 200. Proposed Chapter VI sets forth the information about procedures a recipient must follow and information a recipient is requested to provide in connection with returns of federal assistance to the Federal Government. When requesting federal assistance, proposed Chapter VI reminds recipients to verify the availability of that federal assistance in FTA’s current electronic award and management system. Proposed Chapter VI provides information regarding requisition payments to include information on the DELPHI e-Invoicing System or DELPHI Markview system. G. Appendices Following are changes made to the Appendices of FTA Circular 5010.1D and information about new appendices that have been added to the Proposed Circular: Proposed Appendix A, ‘‘Table of FTA Circulars,’’ has been updated to reflect VerDate Sep<11>2014 19:23 Feb 26, 2016 Jkt 238001 the current circulars, as well as list FTA programs associated with the circulars. Proposed Appendix B, ‘‘Federal Financial Report,’’ has been updated to remove information pertaining to TEAM. Once TrAMS is available, FTA will revise Appendix B to include illustrations from TrAMS. Proposed Appendix C, ‘‘Real Estate Acquisition Management Plan,’’ which is substantially similar to Appendix C of FTA Circular 5010.1D, has been revised to address the following issues: (1) Acquisitions, partial acquisitions, and anticipated number of relocations; (2) whether FTA needs to concur in the appraisal review; (3) issues arising from administrative settlements; (4) the anticipated extent of displacement, types of displacement, availability of replacement housing and business sites, and other anticipated problems; and (5) the contracting requirements, reporting requirements, statement of policy regarding rental property for extended possession by tenants and owners, and policy regarding rental of property not immediately needed for use to accomplish the purposes of the Award. Proposed Appendix D, ‘‘Guide for Preparing an Appraisal Scope of Work,’’ has been expanded to provide more guidance on appraising real property, especially real property with adverse environmental conditions. FTA believes this guidance is needed due to the frequency of issues arising when a recipient seeks to acquire real property, especially when adverse environmental conditions are present. Proposed Appendix E, ‘‘Rolling Stock Status Report,’’ is substantially similar to Appendix E of FTA Circular 5010.1D. FTA Circular 5010.1D, Appendix F, combined information about indirect cost rate proposals (IDRP) with cost allocation plans (CAP). In 2 CFR part 200, indirect cost rate and cost allocation plan have independent definitions and requirements, Appendix F is now solely dedicated to IDRPs and also provides an example of what constitutes a 20 percent change in the FTA approved IDRP, which will then require approval by FTA for a new indirect cost rate. Also consistent with new provisions of the Uniform Guidance, Appendix F permits recipients that have never negotiated an indirect cost rate or have not had an indirect cost rate approved by a cognizant agency to choose a ‘‘de minimis rate’’ or an indirect cost rate of 10% of the modified total direct cost. ‘‘Cost Allocation Plans’’ are now addressed in proposed Appendix G. Among other things, proposed Appendix G defines a CAP consistent with the Uniform Guidance and also PO 00000 Frm 00159 Fmt 4703 Sfmt 4703 10363 contains information pertaining to cost principles appendices of the Uniform Guidance. Proposed Appendix H [Appendix G of FTA Circular 5010.1D], ‘‘Request for Advance or Reimbursement (SF–270)’’ has been revised to explain how the recipient should use FTA’s DELPHI eInvoicing of DELPHI Markview system. New Proposed Appendix I, ‘‘Reporting on Real Property,’’ lists the information about real property that the recipient, at a minimum, must provide to FTA to facilitate compliance with 2 CFR 200.329. Among the information expressly required is the parcel number and the size, expressed as acreage, square or linear units. New Proposed Appendix J, ‘‘Award Amendments and Budget Revision Guidelines,’’ provides an explanation of how amendments and budget revisions will be treated in both TEAM and TrAMS. Proposed Appendix K [Appendix H to FTA Circular 5010.1D], ‘‘References,’’ has been updated to add citations to new documents appearing in the circular. Proposed Appendix L [Appendix I to FTA Circular 5010.1D], ‘‘FTA Regional and Metropolitan Contact Information,’’ updates previous contact information. In summary, we emphasize that interested stakeholders should review the proposed circular in its entirety carefully, particularly the definitions that have been added or revised, and those provisions that contain new or expanded information. Issued in Washington, DC. Therese W. McMillan, Acting Administrator. [FR Doc. 2016–04273 Filed 2–26–16; 8:45 am] BILLING CODE P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Comment Request; Consumer Protections for Depository Institution Sales of Insurance Office of the Comptroller of the Currency (OCC), Treasury. 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 SUMMARY: E:\FR\FM\29FEN1.SGM 29FEN1 asabaliauskas on DSK5VPTVN1PROD with NOTICES 10364 Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Notices collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning renewal of its information collection titled, ‘‘Consumer Protections for Depository Institution Sales of Insurance.’’ DATES: Comments must be received by April 29, 2016. 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: 1557–0220, 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 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. FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer, (202) 649–5490 or, 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., Suite 3E–218, Mail Stop 9W–11, Washington, DC 20219. SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501–3520), Federal agencies must obtain approval from 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 VerDate Sep<11>2014 19:23 Feb 26, 2016 Jkt 238001 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 extension of an existing collection of information, before submitting the collection to OMB for approval. To comply with this requirement, the OCC is publishing notice of the collection of information set forth in this document. The OCC is proposing to extend OMB approval of the following information collection: Title: Consumer Protections for Depository Institution Sales of Insurance. OMB Control No.: 1557–0220. Type of Review: Extension, without revision, of a currently approved collection. Description: This information collection is required under section 305 of the Gramm-Leach-Bliley Act (GLB Act), Public Law 106–102. Section 305 of the GLB Act requires the OCC, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the Agencies) to prescribe joint consumer protection regulations that apply to retail sales practices, solicitations, advertising, and offers of any insurance product by a depository institution or by other persons performing these activities at an office of the institution or on behalf of the institution (other covered persons). Section 305 also requires those performing such activities to disclose certain information to consumers (e.g., that insurance products and annuities are not FDICinsured). This information collection requires national banks, Federal savings associations, and other covered persons, as defined in 12 CFR 14.20(f) and 136.20, involved in insurance sales to make two separate disclosures to consumers. Under §§ 14.40 and 136.40, a national bank, Federal savings association, or other covered person must prepare and provide orally and in writing: (1) Certain insurance disclosures to consumers before the completion of the initial sale of an insurance product or annuity to a consumer and (2) certain credit disclosures at the time of application for the extension of credit (if insurance products or annuities are sold, solicited, advertised, or offered in connection with an extension of credit). Consumers use the disclosures to understand the risks associated with insurance products and annuities and to PO 00000 Frm 00160 Fmt 4703 Sfmt 4703 understand that they are not required to purchase, and may refrain from purchasing, certain insurance products or annuities in order to qualify for an extension of credit. Affected Public: Businesses or other for-profit. Frequency: On occasion. Estimated Burden: Estimated Number of Respondents: 663. Total Estimated Burden Hours: 3,315 hours. Comments: Comments submitted in response to this notice will be summarized and 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 OCC, including whether the information has practical utility; (b) The accuracy of the OCC’s estimate of the information collection burden; (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 the services necessary to provide the required information. Dated: February 23, 2016. Mary Hoyle Gottlieb, Regulatory Specialist, Legislative and Regulatory Activities Division. [FR Doc. 2016–04266 Filed 2–26–16; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities; Information Collection Renewal; Comment Request; Funding and Liquidity Risk Management Office of the Comptroller of the Currency (OCC), Treasury. 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 (PRA). SUMMARY: E:\FR\FM\29FEN1.SGM 29FEN1

Agencies

[Federal Register Volume 81, Number 39 (Monday, February 29, 2016)]
[Notices]
[Pages 10363-10364]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-04266]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Consumer Protections for Depository 
Institution Sales of Insurance

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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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

[[Page 10364]]

collection, as required by the Paperwork Reduction Act of 1995 (PRA).
    In accordance with the requirements of the PRA, the OCC may not 
conduct or sponsor, and the respondent is not required to respond to, 
an information collection unless it displays a currently valid Office 
of Management and Budget (OMB) control number.
    The OCC is soliciting comment concerning renewal of its information 
collection titled, ``Consumer Protections for Depository Institution 
Sales of Insurance.''

DATES: Comments must be received by April 29, 2016.

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: 1557-0220, 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 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.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer, 
(202) 649-5490 or, 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., Suite 3E-218, 
Mail Stop 9W-11, Washington, DC 20219.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal 
agencies must obtain approval from 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 
extension of an existing collection of information, before submitting 
the collection to OMB for approval. To comply with this requirement, 
the OCC is publishing notice of the collection of information set forth 
in this document.
    The OCC is proposing to extend OMB approval of the following 
information collection:
    Title: Consumer Protections for Depository Institution Sales of 
Insurance.
    OMB Control No.: 1557-0220.
    Type of Review: Extension, without revision, of a currently 
approved collection.
    Description: This information collection is required under section 
305 of the Gramm-Leach-Bliley Act (GLB Act), Public Law 106-102. 
Section 305 of the GLB Act requires the OCC, the Board of Governors of 
the Federal Reserve System, and the Federal Deposit Insurance 
Corporation (collectively, the Agencies) to prescribe joint consumer 
protection regulations that apply to retail sales practices, 
solicitations, advertising, and offers of any insurance product by a 
depository institution or by other persons performing these activities 
at an office of the institution or on behalf of the institution (other 
covered persons). Section 305 also requires those performing such 
activities to disclose certain information to consumers (e.g., that 
insurance products and annuities are not FDIC-insured).
    This information collection requires national banks, Federal 
savings associations, and other covered persons, as defined in 12 CFR 
14.20(f) and 136.20, involved in insurance sales to make two separate 
disclosures to consumers. Under Sec. Sec.  14.40 and 136.40, a national 
bank, Federal savings association, or other covered person must prepare 
and provide orally and in writing: (1) Certain insurance disclosures to 
consumers before the completion of the initial sale of an insurance 
product or annuity to a consumer and (2) certain credit disclosures at 
the time of application for the extension of credit (if insurance 
products or annuities are sold, solicited, advertised, or offered in 
connection with an extension of credit).
    Consumers use the disclosures to understand the risks associated 
with insurance products and annuities and to understand that they are 
not required to purchase, and may refrain from purchasing, certain 
insurance products or annuities in order to qualify for an extension of 
credit.
    Affected Public: Businesses or other for-profit.
    Frequency: On occasion.
    Estimated Burden:
    Estimated Number of Respondents: 663.
    Total Estimated Burden Hours: 3,315 hours.
    Comments: Comments submitted in response to this notice will be 
summarized and 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 OCC, including whether the 
information has practical utility;
    (b) The accuracy of the OCC's estimate of the information 
collection burden;
    (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 the services necessary to provide the 
required information.

    Dated: February 23, 2016.
Mary Hoyle Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2016-04266 Filed 2-26-16; 8:45 am]
BILLING CODE 4810-33-P