Agency Information Collection Activities: Proposed Collection Renewal; Comment Request (OMB No. 3064-0084), 61567-61569 [2017-28067]

Download as PDF 61567 Federal Register / Vol. 82, No. 248 / Thursday, December 28, 2017 / Notices Burden Estimate: Number of respondents Source and burden type Annual frequency Average time per response (minutes) Total responses Estimated annual burden (hours) Form MSD–4 Reporting .................................................... Form MSD–5 Reporting .................................................... 2 2 On Occasion ..... On Occasion ..... 2 2 60 15 2 0.5 Total Estimated Annual Burden ................................. ........................ ........................... ........................ ........................ 2.5 There is no change in the method or substance of the collection. The overall reduction in burden hours is a result of economic fluctuation. In particular, the number of respondents has decreased while the reporting frequency and the estimated time per response remain the same. General Description of Collection: The 1975 Amendments to the Securities Exchange Act of 1934 established a comprehensive framework for the regulation of the activities of municipal securities dealers. Under Section 15B(a) of the Securities Exchange Act, municipal securities dealers which are banks, or separately identifiable departments or divisions of banks engaging in municipal securities activities, are required to be registered with the Securities and Exchange Commission in accordance with such rules as the Municipal Securities Rulemaking Board (MSRB), a rulemaking authority established by the 1975 Amendments, may prescribe as necessary or appropriate in the public interest or for the protection of investors. One of the areas in which the Act directed the MSRB to promulgate rules is the qualifications of persons associated with municipal securities dealers as municipal securities principals and municipal securities representatives. The MSRB Rules require persons who are or seek to be associated with municipal securities dealers as municipal securities principals or municipal securities representatives to provide certain background information and conversely, require the municipal securities dealers to obtain the information from such persons. Generally, the information required to be furnished relates to employment history and professional background including any disciplinary sanctions and any claimed bases for exemption from MSRB examination requirements. The FDIC and the other two Federal bank regulatory agencies, the Number of respondents Source and burden type sradovich on DSK3GMQ082PROD with NOTICES Form 6342/12 Reporting ................................................... There is no change in the method or substance of the collection. There is an overall reduction in burden hours which is the result of (1) economic fluctuation reflected by a decrease in the number of FDIC-supervised institutions and (2) a decrease in the number of requests for deregistration of a registered transfer agent forms submitted to the FDIC. General Description of Collection: Under the Securities Exchange Act of 1934 (15 U.S.C. 78q–1), an insured nonmember bank (or a subsidiary of such a bank) that functions as a transfer agent may withdraw from registration as a transfer agent by filing a written notice of withdrawal with the FDIC. The FDIC requires such banks to file FDIC Form 6342/12 as the written notice of withdrawal. VerDate Sep<11>2014 18:14 Dec 27, 2017 Jkt 244001 Annual frequency 1 Dated at Washington, DC, on December 22, 2017. Frm 00035 Fmt 4703 Total responses On Occasion ..... Request for Comment: Comments are invited on: (a) Whether the collections of information are necessary for the proper performance of the FDIC’s functions, including whether the information has practical utility; (b) the accuracy of the estimates of the burden of the information collections, including the validity of the methodology and assumptions used; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collections of information on respondents, including through the use of automated collection techniques or other forms of information technology. All comments will become a matter of public record. PO 00000 Comptroller of the Currency, and the Federal Reserve Board, have prescribed Forms MSD–4 to satisfy these requirements and have prescribed Form MSD–5 for notification by a bank municipal securities dealer that a municipal securities principal’s or a municipal securities representative’s association with the dealer has terminated and the reason for such termination. State nonmember banks and state savings associations that are municipal security dealers submit these forms, as applicable, to the FDIC as their appropriate regulatory agency for each person associated with the dealer as a municipal securities principal or municipal securities representative. 2. Title: Request for Deregistration for Registered Transfer Agents. OMB Number: 3064–0027 Form Number: 6342/12 Affected Public: Insured state nonmember banks and state savings associations. Burden Estimate: Sfmt 4703 Average time per response 1 Estimated annual burden (hours) 0.42 0.42 Federal Deposit Insurance Corporation. Valerie J. Best, Assistant Executive Secretary. [FR Doc. 2017–28068 Filed 12–27–17; 8:45 am] BILLING CODE 6714–01–P FEDERAL DEPOSIT INSURANCE CORPORATION Agency Information Collection Activities: Proposed Collection Renewal; Comment Request (OMB No. 3064–0084) Federal Deposit Insurance Corporation (FDIC). ACTION: Notice and request for comment. AGENCY: The FDIC, as part of its continuing effort to reduce paperwork and respondent burden, invites the SUMMARY: E:\FR\FM\28DEN1.SGM 28DEN1 61568 Federal Register / Vol. 82, No. 248 / Thursday, December 28, 2017 / Notices general public and other Federal agencies to take this opportunity to comment on the renewal of the existing information collection, as required by the Paperwork Reduction Act of 1995. Currently, the FDIC is soliciting comment on renewal of the information collection described below. Comments must be submitted on or before February 26, 2018. DATES: Interested parties are invited to submit written comments to the FDIC by any of the following methods: • http://www.FDIC.gov/regulations/ laws/federal/notices.html. ADDRESSES: • Email: comments@fdic.gov. Include the name and number of the collection in the subject line of the message. • Mail: Jennifer Jones (202–898– 6768), Counsel, MB–3105, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429. • Hand Delivery: Comments may be hand-delivered to the guard station at the rear of the 17th Street Building (located on F Street), on business days between 7:00 a.m. and 5:00 p.m. All comments should refer to the relevant OMB control number. A copy of the comments may also be submitted to the OMB desk officer for the FDIC: Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Washington, DC 20503. FOR FURTHER INFORMATION CONTACT: Jennifer Jones (202–898–6768), at the FDIC address above. SUPPLEMENTARY INFORMATION: Proposal to renew the following currently approved collections of information: 1. Title: Account Based Disclosures in Connection with Consumer Financial Protection Bureau Regulations E and DD and Federal Reserve Regulation CC. OMB Number: 3064–0084. Form Number: None. Affected Public: FDIC-Supervised Institutions. Burden Estimate: SUMMARY OF ANNUAL BURDEN Type of burden Obligation to respond Estimated number of respondents Estimated time per response (hours) Estimated frequency Frequency of response Total annual estimated burden Reg E—12 C.F.R. Part 1005 Initial disclosures:. General (1005.7(b)) ................................................ Payroll cards (1005.18(c)(1)) .................................. Change-in-terms (1005.8(a)) ......................................... Transaction disclosures (sections 1005.9(a) and 1005.10). Periodic statements (section 1005.9(b)) ........................ Error resolution rules:. General (1005.8(b) and 1005.11) ........................... Payroll cards (1005.18) .......................................... Overdraft opt-in disclosures (1005.17, FRB r–1343):. Revise and update initial disclosures (1005.17(c)(2)) for new customers. Prepare and send new opt-in notices to existing customers (1005.17(c)(1)). Consumer response (section 1005.17) .................. Gift card/gift certificate (section 1005.20, FRB R– 1377):. Exclusion policies & procedures (1005.20(b)(2)) one-time. Exclusion policies & procedures (1005.20(b)(2)) ongoing. Policy & procedures (1005.20(e)(1)) one-time ....... Policy & procedures (1005.20(e)(1)) ongoing ........ Systems change to implement disclosure update (1005.20(e)(3)). Subtotal Reg E Burden ................................... Disclosure Disclosure Disclosure Disclosure ....... ....... ....... ....... Mandatory ....... Mandatory ....... Mandatory ....... ......................... 3,674 6 3,674 .................... 0.025 0.025 0.017 .................. 83 5,000 113 .................. On Occasion ... On Occasion ... On Occasion ... ......................... 7,624 750 6,919 0 Disclosure ....... ......................... .................... .................. .................. ......................... 0 Disclosure ....... Disclosure ....... Mandatory ....... Mandatory ....... 3,674 6 0.500 0.500 3 8 On Occasion ... On Occasion ... 5,511 24 Disclosure ....... Mandatory ....... 3,645 16.000 1 On Occasion ... 58,320 Disclosure ....... Mandatory ....... 3,645 16.000 1 On Occasion ... 58,320 Recordkeeping Voluntary ......... 3,645 0.083 7,207 On Occasion ... 2,189,126 Recordkeeping Mandatory ....... 6 40.000 1 On Occasion ... 240 Recordkeeping Mandatory ....... 6 8.000 1 On Occasion ... 48 Recordkeeping Recordkeeping Disclosure ....... Mandatory ....... Mandatory ....... Mandatory ....... 6 6 6 40.000 8.000 40.000 1 1 1 On Occasion ... On Occasion ... On Occasion ... 240 48 240 ......................... ......................... .................... .................. .................. ......................... 2,327,410 sradovich on DSK3GMQ082PROD with NOTICES Regulation CC—12 C.F.R. Part 229 Specific availability policy disclosure (initial notice, upon request, upon change in policy) (sections 229.16, 229.17 and 229.18(d)). Case-by-case hold notice (section 229.16(c)) ............... Notice of exceptions to hold policy (section 229.13(g)) Notice posted where consumers make deposits (including at ATMs) (sections 229.18(b) and 229.18(c)). Notice of changes in policy (section 229.18(e)) ............ Annual notice of new ATMs (section 229.18(e)) (see Appendix E to Part 229, Commentary, section XII, E., comment no. 3). Notice of nonpayment—notice to depositary bank (section 229.33(a) and (d)). Response to consumer’s recredit claim (validation, denial, reversal) (section 229.54(e)). Bank’s claim against an indemnifying bank (section 229.55). Consumer awareness disclosure (section 229.57) ........ Reg CC Consumer Burden—Expedited recredit claim notice (section 229.54(a) and (b)(2)). VerDate Sep<11>2014 18:14 Dec 27, 2017 Jkt 244001 Disclosure ....... Mandatory ....... 3,674 0.017 140 On Occasion ... 8,573 Disclosure ....... Disclosure ....... Disclosure ....... Mandatory ....... Mandatory ....... Mandatory ....... 3,674 3,674 3,674 0.050 0.050 0.250 717 247 1 On Occasion ... On Occasion ... On Occasion ... 131,713 45,374 919 Disclosure ....... Disclosure ....... Mandatory ....... Mandatory ....... 16 3,674 20.000 5.000 1 1 On Occasion ... On Occasion ... 320 18,370 Disclosure ....... Mandatory ....... 3,674 0.017 2,211 On Occasion ... 135,387 Disclosure ....... Mandatory ....... 3,674 0.250 12 On Occasion ... 11,022 Reporting ......... Mandatory ....... 3,674 0.250 5 On Occasion ... 4,593 Disclosure ....... Reporting ......... Mandatory ....... Mandatory ....... 3,674 3,674 0.017 0.250 170 8 On Occasion ... On Occasion ... 10,410 7,348 PO 00000 Frm 00036 Fmt 4703 Sfmt 4703 E:\FR\FM\28DEN1.SGM 28DEN1 61569 Federal Register / Vol. 82, No. 248 / Thursday, December 28, 2017 / Notices SUMMARY OF ANNUAL BURDEN—Continued Type of burden Obligation to respond Estimated number of respondents Estimated time per response (hours) Estimated frequency Frequency of response Total annual estimated burden Subtotal Reg CC Burden ........................................ ......................... ......................... .................... .................. .................. ......................... 374,027 Account disclosures (upon request and new accounts) (section 1030.4). Subsequent notices (section 1030.5):. Change in terms ..................................................... Prematurity (renewal) notices ................................. Disclosures on periodic statements (section 1030.6) .... Advertising (section 1030.8) .......................................... Disclosure ....... Mandatory ....... 3,674 0.025 170 On Occasion ... 15,615 Disclosure Disclosure Disclosure Disclosure Mandatory Mandatory Mandatory Mandatory ....... ....... ....... ....... 3,674 3,674 3,674 3,674 0.017 0.017 4.000 0.500 380 340 12 12 On On On On Regulation DD—12 C.F.R. Part 1030 ....... ....... ....... ....... Occasion Occasion Occasion Occasion ... ... ... ... 23,269 20,819 176,352 22,044 ......................... ......................... .................... .................. .................. ......................... 258,099 Total Burden .................................................... sradovich on DSK3GMQ082PROD with NOTICES Subtotal Reg DD Burden ........................................ ......................... ......................... .................... .................. .................. ......................... 2,959,536 General Description of Collection: Regulations E & DD (Consumer Financial Protection Bureau’s Regulations) and Regulation CC (the Federal Reserve’s Regulation) ensure adequate disclosures regarding accounts, including electronic fund transfer services, availability of funds, and fees and annual percentage yield for deposit accounts. Generally, the Regulation E disclosures are designed to ensure consumers receive adequate disclosure of basic terms, costs, and rights relating to electronic fund transfer (EFT) services provided to them so that they can make informed decisions. Institutions offering EFT services must disclose to consumers certain information, including: initial and updated EFT terms, transaction information, the consumer’s potential liability for unauthorized transfers, and error resolution rights and procedures. Like Regulation E, Regulation CC has consumer protection disclosure requirements. Specifically, Regulation CC requires depository institutions to make funds deposited in transaction accounts available within specified time periods, disclose their availability policies to customers, and begin accruing interest on such deposits promptly. The disclosures are intended to alert customers that their ability to use deposited funds may be delayed, prevent unintentional (and costly) overdrafts, and allow customers to compare the policies of different institutions before deciding at which institution to deposit funds. Depository institutions must also provide an awareness disclosure regarding substitute checks. The regulation also requires notice to the depositary bank and to a customer of nonpayment of a check. Regulation DD also has similar consumer protection disclosure VerDate Sep<11>2014 18:14 Dec 27, 2017 Jkt 244001 requirements that are intended to assist consumers in comparing deposit accounts offered by institutions, principally through the disclosure of fees, the annual percentage yield, and other account terms. Regulation DD requires depository institutions to disclose yields, fees, and other terms concerning deposit accounts to consumers at account opening, upon request, and when changes in terms occur. Depository institutions that provide periodic statements are required to include information about fees imposed, interest earned, and the annual percentage yield (APY) earned during those statement periods. It also contains rules about advertising deposit accounts. There is no change in the method or substance of the collection. The overall reduction in burden hours is the result of economic fluctuation and the reduced number of FDIC-supervised institutions since the last submission in 2014. In particular, the number of respondents has decreased while the hours per response and frequency of responses have remained the same. Request for Comment: Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the FDIC’s 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; and (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. All comments will become a matter of public record. PO 00000 Frm 00037 Fmt 4703 Sfmt 4703 Dated at Washington, DC, on December 22, 2017. Federal Deposit Insurance Corporation. Valerie J. Best, Assistant Executive Secretary. [FR Doc. 2017–28067 Filed 12–27–17; 8:45 am] BILLING CODE 6714–01–P FEDERAL DEPOSIT INSURANCE CORPORATION Update to Notice of Financial Institutions for Which the Federal Deposit Insurance Corporation has Been Appointed Either Receiver, Liquidator, or Manager Federal Deposit Insurance Corporation. AGENCY: Update listing of financial institutions in liquidation. ACTION: Notice is hereby given that the Federal Deposit Insurance Corporation (Corporation) has been appointed the sole receiver for the following financial institutions effective as of the Date Closed as indicated in the listing. SUMMARY: This list (as updated from time to time in the Federal Register) may be relied upon as ‘‘of record’’ notice that the Corporation has been appointed receiver for purposes of the statement of policy published in the July 2, 1992, issue of the Federal Register (57 FR 29491). For further information concerning the identification of any institutions which have been placed in liquidation, please visit the Corporation website at www.fdic.gov/bank/individual/failed/ banklist.html, or contact the Manager of Receivership Oversight in the appropriate service center. SUPPLEMENTARY INFORMATION: E:\FR\FM\28DEN1.SGM 28DEN1

Agencies

[Federal Register Volume 82, Number 248 (Thursday, December 28, 2017)]
[Notices]
[Pages 61567-61569]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-28067]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request (OMB No. 3064-0084)

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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

SUMMARY: The FDIC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the

[[Page 61568]]

general public and other Federal agencies to take this opportunity to 
comment on the renewal of the existing information collection, as 
required by the Paperwork Reduction Act of 1995. Currently, the FDIC is 
soliciting comment on renewal of the information collection described 
below.

DATES: Comments must be submitted on or before February 26, 2018.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     http://www.FDIC.gov/regulations/laws/federal/notices.html.
     Email: [email protected]. Include the name and number of 
the collection in the subject line of the message.
     Mail: Jennifer Jones (202-898-6768), Counsel, MB-3105, 
Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, 
DC 20429.
     Hand Delivery: Comments may be hand-delivered to the guard 
station at the rear of the 17th Street Building (located on F Street), 
on business days between 7:00 a.m. and 5:00 p.m.
    All comments should refer to the relevant OMB control number. A 
copy of the comments may also be submitted to the OMB desk officer for 
the FDIC: Office of Information and Regulatory Affairs, Office of 
Management and Budget, New Executive Office Building, Washington, DC 
20503.

FOR FURTHER INFORMATION CONTACT: Jennifer Jones (202-898-6768), at the 
FDIC address above.

SUPPLEMENTARY INFORMATION:
    Proposal to renew the following currently approved collections of 
information:
    1. Title: Account Based Disclosures in Connection with Consumer 
Financial Protection Bureau Regulations E and DD and Federal Reserve 
Regulation CC.
    OMB Number: 3064-0084.
    Form Number: None.
    Affected Public: FDIC-Supervised Institutions.
    Burden Estimate:

                                                                Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                Estimated                                        Total
                                                               Obligation to       Estimated    time per    Estimated      Frequency  of        annual
                                       Type of  burden            respond          number of    response    frequency         response         estimated
                                                                                  respondents    (hours)                                        burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                               Reg E--12 C.F.R. Part 1005
--------------------------------------------------------------------------------------------------------------------------------------------------------
Initial disclosures:..............
    General (1005.7(b))...........  Disclosure...........  Mandatory............        3,674       0.025          83  On Occasion..........       7,624
    Payroll cards (1005.18(c)(1)).  Disclosure...........  Mandatory............            6       0.025       5,000  On Occasion..........         750
Change-in-terms (1005.8(a)).......  Disclosure...........  Mandatory............        3,674       0.017         113  On Occasion..........       6,919
Transaction disclosures (sections   Disclosure...........  .....................  ...........  ..........  ..........  .....................           0
 1005.9(a) and 1005.10).
Periodic statements (section        Disclosure...........  .....................  ...........  ..........  ..........  .....................           0
 1005.9(b)).
Error resolution rules:...........
    General (1005.8(b) and          Disclosure...........  Mandatory............        3,674       0.500           3  On Occasion..........       5,511
     1005.11).
    Payroll cards (1005.18).......  Disclosure...........  Mandatory............            6       0.500           8  On Occasion..........          24
Overdraft opt-in disclosures
 (1005.17, FRB r-1343):.
    Revise and update initial       Disclosure...........  Mandatory............        3,645      16.000           1  On Occasion..........      58,320
     disclosures (1005.17(c)(2))
     for new customers.
    Prepare and send new opt-in     Disclosure...........  Mandatory............        3,645      16.000           1  On Occasion..........      58,320
     notices to existing customers
     (1005.17(c)(1)).
    Consumer response (section      Recordkeeping........  Voluntary............        3,645       0.083       7,207  On Occasion..........   2,189,126
     1005.17).
Gift card/gift certificate
 (section 1005.20, FRB R-1377):.
    Exclusion policies &            Recordkeeping........  Mandatory............            6      40.000           1  On Occasion..........         240
     procedures (1005.20(b)(2))
     one-time.
    Exclusion policies &            Recordkeeping........  Mandatory............            6       8.000           1  On Occasion..........          48
     procedures (1005.20(b)(2))
     ongoing.
    Policy & procedures             Recordkeeping........  Mandatory............            6      40.000           1  On Occasion..........         240
     (1005.20(e)(1)) one-time.
    Policy & procedures             Recordkeeping........  Mandatory............            6       8.000           1  On Occasion..........          48
     (1005.20(e)(1)) ongoing.
    Systems change to implement     Disclosure...........  Mandatory............            6      40.000           1  On Occasion..........         240
     disclosure update
     (1005.20(e)(3)).
                                                                                                                                             -----------
        Subtotal Reg E Burden.....  .....................  .....................  ...........  ..........  ..........  .....................   2,327,410
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                            Regulation CC--12 C.F.R. Part 229
--------------------------------------------------------------------------------------------------------------------------------------------------------
Specific availability policy        Disclosure...........  Mandatory............        3,674       0.017         140  On Occasion..........       8,573
 disclosure (initial notice, upon
 request, upon change in policy)
 (sections 229.16, 229.17 and
 229.18(d)).
Case-by-case hold notice (section   Disclosure...........  Mandatory............        3,674       0.050         717  On Occasion..........     131,713
 229.16(c)).
Notice of exceptions to hold        Disclosure...........  Mandatory............        3,674       0.050         247  On Occasion..........      45,374
 policy (section 229.13(g)).
Notice posted where consumers make  Disclosure...........  Mandatory............        3,674       0.250           1  On Occasion..........         919
 deposits (including at ATMs)
 (sections 229.18(b) and
 229.18(c)).
Notice of changes in policy         Disclosure...........  Mandatory............           16      20.000           1  On Occasion..........         320
 (section 229.18(e)).
Annual notice of new ATMs (section  Disclosure...........  Mandatory............        3,674       5.000           1  On Occasion..........      18,370
 229.18(e)) (see Appendix E to
 Part 229, Commentary, section
 XII, E., comment no. 3).
Notice of nonpayment--notice to     Disclosure...........  Mandatory............        3,674       0.017       2,211  On Occasion..........     135,387
 depositary bank (section
 229.33(a) and (d)).
Response to consumer's recredit     Disclosure...........  Mandatory............        3,674       0.250          12  On Occasion..........      11,022
 claim (validation, denial,
 reversal) (section 229.54(e)).
Bank's claim against an             Reporting............  Mandatory............        3,674       0.250           5  On Occasion..........       4,593
 indemnifying bank (section
 229.55).
Consumer awareness disclosure       Disclosure...........  Mandatory............        3,674       0.017         170  On Occasion..........      10,410
 (section 229.57).
Reg CC Consumer Burden--Expedited   Reporting............  Mandatory............        3,674       0.250           8  On Occasion..........       7,348
 recredit claim notice (section
 229.54(a) and (b)(2)).
                                                                                                                                             -----------

[[Page 61569]]

 
    Subtotal Reg CC Burden........  .....................  .....................  ...........  ..........  ..........  .....................     374,027
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                           Regulation DD--12 C.F.R. Part 1030
--------------------------------------------------------------------------------------------------------------------------------------------------------
Account disclosures (upon request   Disclosure...........  Mandatory............        3,674       0.025         170  On Occasion..........      15,615
 and new accounts) (section
 1030.4).
Subsequent notices (section
 1030.5):.
    Change in terms...............  Disclosure...........  Mandatory............        3,674       0.017         380  On Occasion..........      23,269
    Prematurity (renewal) notices.  Disclosure...........  Mandatory............        3,674       0.017         340  On Occasion..........      20,819
Disclosures on periodic statements  Disclosure...........  Mandatory............        3,674       4.000          12  On Occasion..........     176,352
 (section 1030.6).
Advertising (section 1030.8)......  Disclosure...........  Mandatory............        3,674       0.500          12  On Occasion..........      22,044
                                                                                                                                             -----------
    Subtotal Reg DD Burden........  .....................  .....................  ...........  ..........  ..........  .....................     258,099
                                                                                                                                             -----------
        Total Burden..............  .....................  .....................  ...........  ..........  ..........  .....................   2,959,536
--------------------------------------------------------------------------------------------------------------------------------------------------------

    General Description of Collection: Regulations E & DD (Consumer 
Financial Protection Bureau's Regulations) and Regulation CC (the 
Federal Reserve's Regulation) ensure adequate disclosures regarding 
accounts, including electronic fund transfer services, availability of 
funds, and fees and annual percentage yield for deposit accounts. 
Generally, the Regulation E disclosures are designed to ensure 
consumers receive adequate disclosure of basic terms, costs, and rights 
relating to electronic fund transfer (EFT) services provided to them so 
that they can make informed decisions. Institutions offering EFT 
services must disclose to consumers certain information, including: 
initial and updated EFT terms, transaction information, the consumer's 
potential liability for unauthorized transfers, and error resolution 
rights and procedures.
    Like Regulation E, Regulation CC has consumer protection disclosure 
requirements. Specifically, Regulation CC requires depository 
institutions to make funds deposited in transaction accounts available 
within specified time periods, disclose their availability policies to 
customers, and begin accruing interest on such deposits promptly. The 
disclosures are intended to alert customers that their ability to use 
deposited funds may be delayed, prevent unintentional (and costly) 
overdrafts, and allow customers to compare the policies of different 
institutions before deciding at which institution to deposit funds. 
Depository institutions must also provide an awareness disclosure 
regarding substitute checks. The regulation also requires notice to the 
depositary bank and to a customer of nonpayment of a check.
    Regulation DD also has similar consumer protection disclosure 
requirements that are intended to assist consumers in comparing deposit 
accounts offered by institutions, principally through the disclosure of 
fees, the annual percentage yield, and other account terms. Regulation 
DD requires depository institutions to disclose yields, fees, and other 
terms concerning deposit accounts to consumers at account opening, upon 
request, and when changes in terms occur. Depository institutions that 
provide periodic statements are required to include information about 
fees imposed, interest earned, and the annual percentage yield (APY) 
earned during those statement periods. It also contains rules about 
advertising deposit accounts.
    There is no change in the method or substance of the collection. 
The overall reduction in burden hours is the result of economic 
fluctuation and the reduced number of FDIC-supervised institutions 
since the last submission in 2014. In particular, the number of 
respondents has decreased while the hours per response and frequency of 
responses have remained the same.
    Request for Comment: Comments are invited on: (a) Whether the 
collection of information is necessary for the proper performance of 
the FDIC's 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; and (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. All comments will become a matter of public record.

    Dated at Washington, DC, on December 22, 2017.

Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 2017-28067 Filed 12-27-17; 8:45 am]
 BILLING CODE 6714-01-P