Proposed Agency Information Collection Activities; Comment Request, 16098-16099 [2018-07668]

Download as PDF 16098 Federal Register / Vol. 83, No. 72 / Friday, April 13, 2018 / Notices Dated at Washington, DC, on April 9, 2018. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2018–07635 Filed 4–12–18; 8:45 am] BILLING CODE 6714–01–P FEDERAL RESERVE SYSTEM Proposed Agency Information Collection Activities; Comment Request Board of Governors of the Federal Reserve System. ACTION: Notice, request for comment. AGENCY: The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Recordkeeping and Disclosure Requirements Associated with Consumer Financial Protection Bureau’s (CFPB) Regulation B (Equal Credit Opportunity Act) (FR B; OMB No. 7100– 0201). DATES: Comments must be submitted on or before June 12, 2018. ADDRESSES: You may submit comments, identified by FR B, by any of the following methods: • Agency Website: http:// www.federalreserve.gov. Follow the instructions for submitting comments at http://www.federalreserve.gov/apps/ foia/proposedregs.aspx. • Email: regs.comments@ federalreserve.gov. Include OMB number in the subject line of the message. • FAX: (202) 452–3819 or (202) 452– 3102. • Mail: Ann E. Misback, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW, Washington, DC 20551. All public comments are available from the Board’s website at http:// www.federalreserve.gov/apps/foia/ proposedregs.aspx as submitted, unless modified for technical reasons. Accordingly, your comments will not be edited to remove any identifying or contact information. Public comments may also be viewed electronically or in paper form in Room 3515, 1801 K Street (between 18th and 19th Streets NW) Washington, DC 20006 between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the Board requires that visitors make an appointment to inspect comments. You may do so by calling (202) 452–3684. Upon arrival, visitors will be required to present valid government-issued photo identification and to submit to security screening in daltland on DSKBBV9HB2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 17:41 Apr 12, 2018 Jkt 244001 order to inspect and photocopy comments. Additionally, commenters may send a copy of their comments to the OMB Desk Officer—Shagufta Ahmed—Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW, Washington, DC 20503 or by fax to (202) 395–6974. FOR FURTHER INFORMATION CONTACT: A copy of the PRA OMB submission, including the proposed reporting form and instructions, supporting statement, and other documentation will be placed into OMB’s public docket files, once approved. These documents will also be made available on the Federal Reserve Board’s public website at: http:// www.federalreserve.gov/apps/ reportforms/review.aspx or may be requested from the agency clearance officer, whose name appears below. Federal Reserve Board Clearance Officer—Nuha Elmaghrabi—Office of the Chief Data Officer, Board of Governors of the Federal Reserve System, Washington, DC 20551, (202) 452–3829. Telecommunications Device for the Deaf (TDD) users may contact (202) 263–4869, Board of Governors of the Federal Reserve System, Washington, DC 20551. SUPPLEMENTARY INFORMATION: On June 15, 1984, the Office of Management and Budget (OMB) delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve of and assign OMB control numbers to collection of information requests and requirements conducted or sponsored by the Board. In exercising this delegated authority, the Board is directed to take every reasonable step to solicit comment. In determining whether to approve a collection of information, the Board will consider all comments received from the public and other agencies. Request for Comment on Information Collection Proposal The Board invites public comment on the following information collection, which is being reviewed under authority delegated by the OMB under the PRA. Comments are invited on the following: a. Whether the proposed collection of information is necessary for the proper performance of the Federal Reserve’s functions; including whether the information has practical utility; b. The accuracy of the Federal Reserve’s estimate of the burden of the proposed information collection, including the validity of the methodology and assumptions used; PO 00000 Frm 00055 Fmt 4703 Sfmt 4703 c. Ways to enhance the quality, utility, and clarity of the information to be collected; d. Ways to minimize the burden of information collection on respondents, including through the use of automated collection techniques or other forms of information technology; and e. Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the Federal Reserve should modify the proposal prior to giving final approval. Proposal To Approve Under OMB Delegated Authority the Extension for Three Years, Without Revision, of the Following Report Report title: Recordkeeping and Disclosure Requirements Associated with Consumer Financial Protection Bureau’s (CFPB) Regulation B (Equal Credit Opportunity Act). Agency form number: FR B. OMB control number: 7100–0201. Frequency: Monthly; annually. Respondents: State member banks; subsidiaries of state member banks; subsidiaries of bank holding companies; U.S. branches and agencies of foreign banks (other than federal branches, federal agencies, and insured state branches of foreign banks); commercial lending companies owned or controlled by foreign banks; and organizations operating under section 25 or 25A of the Federal Reserve Act (12 U.S.C. 601– 604a; 611–631). Estimated number of respondents: Notifications, furnishing of credit information, record retention (applications, actions, and prescreened solicitations), information for monitoring purposes, and rules on providing appraisal reports (providing appraisal report), 958 respondents; Selftesting: Record retention—incentives, 92 respondents; Self-testing: Record retention—self-correction, 23 respondents, and Self-testing: Record retention—rules concerning requests for information (disclosure for optional selftest), 92 respondents. Estimated average hours per response: Notifications, 6 hours; Furnishing of credit information, 2.5 hours; Record retention (Applications, actions, and prescreened solicitations), 8 hours; Information for monitoring purposes, 0.25 hours; Rules on providing appraisal reports (Providing appraisal report), 3 hours; Self-testing: Record retention— incentives, 2 hours; Self-testing: Record retention—self-correction, 8 hours; and E:\FR\FM\13APN1.SGM 13APN1 daltland on DSKBBV9HB2PROD with NOTICES Federal Register / Vol. 83, No. 72 / Friday, April 13, 2018 / Notices Self-testing: Record retention—rules concerning requests for information (disclosure for optional self-test), 3.5 hours. Estimated annual burden hours: Notifications, 68,976 hours; Furnishing of credit information, 28,740 hours; Record retention (Applications, actions, and prescreened solicitations), 7,664 hours; Information for monitoring purposes, 2,874 hours; Rules on providing appraisal reports (Providing appraisal report), 34,488 hours; Selftesting: Record retention—incentives, 184 hours; Self-testing: Record retention—self-correction, 184 hours; and Self-testing: Record retention—rules concerning requests for information (disclosure for optional self-test), 3,864 hours. General description of report: ECOA was enacted in 1974 and is implemented by the CFPB’s Regulation B for institutions the Board supervises.1 The ECOA prohibits discrimination in any aspect of a credit transaction because of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to contract), or other specified bases (receipt of public assistance, or the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act (15 U.S.C. 1600 et seq.)). To aid in implementation of this prohibition, the statute and regulation subject creditors to various mandatory disclosure requirements, notification provisions informing applicants of action taken on the credit application, provision of appraisal reports in connection with mortgages, credit history reporting, monitoring rules, and recordkeeping requirements. These requirements are triggered by specific events and disclosures must be provided within the time periods established by the statute and regulation. Legal authorization and confidentiality: The Board’s Legal Division has determined that the CFPB is authorized to issue its Regulation B pursuant to its authority to prescribe regulations to carry out the purposes of ECOA (15 U.S.C. 1691b). The obligation to comply with the recordkeeping and disclosure requirements of CFPB’s Regulation B is mandatory. Because the recordkeeping and disclosure requirements of the CFPB’s Regulation B require creditors to retain their own records and to make certain disclosures to customers, the Freedom of Information Act (FOIA) would only be implicated if the Board’s examiners 1 15 U.S.C. 1691. The CFPB’s Regulation B is located at 12 CFR part 1002. VerDate Sep<11>2014 17:41 Apr 12, 2018 Jkt 244001 retained a copy of this information as part of an examination a bank. Records obtained as a part of an examination or supervision of a bank are exempt from disclosure under FOIA exemption (b)(8), for examination material (5 U.S.C. 552(b)(8)). In addition, the records may also be exempt under (b)(4) or (b)(6). Records would be exempt under (b)(4) if the records contained ‘‘trade secrets and commercial or financial information obtained from a person and privileged or confidential’’ and the disclosure of the information would cause substantial harm to the competitive position of the respondents (5 U.S.C. 552(b)(4)). Records would be exempt under (b)(6) if the records contained personal information, the disclosure of which would ‘‘constitute a clearly unwarranted invasion of personal privacy’’ (5 U.S.C. 552(b)(6)). Board of Governors of the Federal Reserve System, April 9, 2018. Ann Misback, Secretary of the Board. [FR Doc. 2018–07668 Filed 4–12–18; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Solicitation of Applications for Membership on the Community Advisory Council Board of Governors of the Federal Reserve System. ACTION: Notice. AGENCY: The Board of Governors of the Federal Reserve System (Board) established the Community Advisory Council (the ‘‘CAC’’) as an advisory committee to the Board on issues affecting consumers and communities. This Notice advises individuals who wish to serve as CAC members of the opportunity to be considered for the CAC. SUMMARY: Applications received between Monday, April 16, 2018 and Friday, June 15, 2018 will be considered for selection to the CAC for terms beginning January 1, 2019. ADDRESSES: Individuals who are interested in being considered for the CAC may submit an application via the Board’s website or via email. The application can be accessed at https:// www.federalreserve.gov/secure/CAC/ Application/. Emailed submissions can be sent to CCA-CAC@frb.gov. The information required for consideration is described below. If electronic submission is not feasible, submissions may be mailed to the Board of Governors of the Federal DATES: PO 00000 Frm 00056 Fmt 4703 Sfmt 4703 16099 Reserve System, Attn: Community Advisory Council, Mail Stop I–305, 20th Street and Constitution Ave. NW, Washington, DC 20551. FOR FURTHER INFORMATION CONTACT: Jennifer Fernandez, Community Development Analyst, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, 20th Street and Constitution Ave. NW, Washington, DC 20551, or (202) 452–2412, or CCA-CAC@ frb.gov. Telecommunications Device for the Deaf (TDD) users may contact (202) 263–4869. SUPPLEMENTARY INFORMATION: The Board created the Community Advisory Council (CAC) as an advisory committee to the Board on issues affecting consumers and communities. The CAC is composed of a diverse group of experts and representatives of consumer and community development organizations and interests, including from such fields as affordable housing, community and economic development, employment and labor, financial services and technology, small business, and asset and wealth building. CAC members meet semiannually with the members of the Board in Washington, DC to provide a range of perspectives on the economic circumstances and financial services needs of consumers and communities, with a particular focus on the concerns of low- and moderate-income consumers and communities. The CAC complements two of the Board’s other advisory councils—the Community Depository Institutions Advisory Council (CDIAC) and the Federal Advisory Council (FAC)—whose members represent depository institutions. The CAC serves as a mechanism to gather feedback and perspectives on a wide range of policy matters and emerging issues of interest to the Board of Governors and aligns with the Federal Reserve’s mission and current responsibilities. These responsibilities include, but are not limited to, banking supervision and regulatory compliance (including the enforcement of consumer protection laws), systemic risk oversight and monetary policy decision-making, and, in conjunction with the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC), responsibility for implementation of the Community Reinvestment Act (CRA). This Notice advises individuals of the opportunity to be considered for appointment to the CAC. To assist with the selection of CAC members, the Board will consider the information submitted by the candidate along with E:\FR\FM\13APN1.SGM 13APN1

Agencies

[Federal Register Volume 83, Number 72 (Friday, April 13, 2018)]
[Notices]
[Pages 16098-16099]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-07668]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Recordkeeping and Disclosure Requirements Associated with 
Consumer Financial Protection Bureau's (CFPB) Regulation B (Equal 
Credit Opportunity Act) (FR B; OMB No. 7100-0201).

DATES: Comments must be submitted on or before June 12, 2018.

ADDRESSES: You may submit comments, identified by FR B, by any of the 
following methods:
     Agency Website: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Email: [email protected]. Include OMB 
number in the subject line of the message.
     FAX: (202) 452-3819 or (202) 452-3102.
     Mail: Ann E. Misback, Secretary, Board of Governors of the 
Federal Reserve System, 20th Street and Constitution Avenue NW, 
Washington, DC 20551.
    All public comments are available from the Board's website at 
http://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, 
unless modified for technical reasons. Accordingly, your comments will 
not be edited to remove any identifying or contact information. Public 
comments may also be viewed electronically or in paper form in Room 
3515, 1801 K Street (between 18th and 19th Streets NW) Washington, DC 
20006 between 9:00 a.m. and 5:00 p.m. on weekdays. For security 
reasons, the Board requires that visitors make an appointment to 
inspect comments. You may do so by calling (202) 452-3684. 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.
    Additionally, commenters may send a copy of their comments to the 
OMB Desk Officer--Shagufta Ahmed--Office of Information and Regulatory 
Affairs, Office of Management and Budget, New Executive Office 
Building, Room 10235, 725 17th Street NW, Washington, DC 20503 or by 
fax to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: A copy of the PRA OMB submission, 
including the proposed reporting form and instructions, supporting 
statement, and other documentation will be placed into OMB's public 
docket files, once approved. These documents will also be made 
available on the Federal Reserve Board's public website at: http://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears below.
    Federal Reserve Board Clearance Officer--Nuha Elmaghrabi--Office of 
the Chief Data Officer, Board of Governors of the Federal Reserve 
System, Washington, DC 20551, (202) 452-3829. Telecommunications Device 
for the Deaf (TDD) users may contact (202) 263-4869, Board of Governors 
of the Federal Reserve System, Washington, DC 20551.

SUPPLEMENTARY INFORMATION: On June 15, 1984, the Office of Management 
and Budget (OMB) delegated to the Board authority under the Paperwork 
Reduction Act (PRA) to approve of and assign OMB control numbers to 
collection of information requests and requirements conducted or 
sponsored by the Board. In exercising this delegated authority, the 
Board is directed to take every reasonable step to solicit comment. In 
determining whether to approve a collection of information, the Board 
will consider all comments received from the public and other agencies.

Request for Comment on Information Collection Proposal

    The Board invites public comment on the following information 
collection, which is being reviewed under authority delegated by the 
OMB under the PRA. Comments are invited on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    b. The accuracy of the Federal Reserve's estimate of the burden of 
the proposed 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 information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    e. Estimates of capital or startup costs and costs of operation, 
maintenance, and purchase of services to provide information.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the Federal 
Reserve should modify the proposal prior to giving final approval.

Proposal To Approve Under OMB Delegated Authority the Extension for 
Three Years, Without Revision, of the Following Report

    Report title: Recordkeeping and Disclosure Requirements Associated 
with Consumer Financial Protection Bureau's (CFPB) Regulation B (Equal 
Credit Opportunity Act).
    Agency form number: FR B.
    OMB control number: 7100-0201.
    Frequency: Monthly; annually.
    Respondents: State member banks; subsidiaries of state member 
banks; subsidiaries of bank holding companies; U.S. branches and 
agencies of foreign banks (other than federal branches, federal 
agencies, and insured state branches of foreign banks); commercial 
lending companies owned or controlled by foreign banks; and 
organizations operating under section 25 or 25A of the Federal Reserve 
Act (12 U.S.C. 601-604a; 611-631).
    Estimated number of respondents: Notifications, furnishing of 
credit information, record retention (applications, actions, and 
prescreened solicitations), information for monitoring purposes, and 
rules on providing appraisal reports (providing appraisal report), 958 
respondents; Self-testing: Record retention--incentives, 92 
respondents; Self-testing: Record retention--self-correction, 23 
respondents, and Self-testing: Record retention--rules concerning 
requests for information (disclosure for optional self-test), 92 
respondents.
    Estimated average hours per response: Notifications, 6 hours; 
Furnishing of credit information, 2.5 hours; Record retention 
(Applications, actions, and prescreened solicitations), 8 hours; 
Information for monitoring purposes, 0.25 hours; Rules on providing 
appraisal reports (Providing appraisal report), 3 hours; Self-testing: 
Record retention--incentives, 2 hours; Self-testing: Record retention--
self-correction, 8 hours; and

[[Page 16099]]

Self-testing: Record retention--rules concerning requests for 
information (disclosure for optional self-test), 3.5 hours.
    Estimated annual burden hours: Notifications, 68,976 hours; 
Furnishing of credit information, 28,740 hours; Record retention 
(Applications, actions, and prescreened solicitations), 7,664 hours; 
Information for monitoring purposes, 2,874 hours; Rules on providing 
appraisal reports (Providing appraisal report), 34,488 hours; Self-
testing: Record retention--incentives, 184 hours; Self-testing: Record 
retention--self-correction, 184 hours; and Self-testing: Record 
retention--rules concerning requests for information (disclosure for 
optional self-test), 3,864 hours.
    General description of report: ECOA was enacted in 1974 and is 
implemented by the CFPB's Regulation B for institutions the Board 
supervises.\1\ The ECOA prohibits discrimination in any aspect of a 
credit transaction because of race, color, religion, national origin, 
sex, marital status, age (provided the applicant has the capacity to 
contract), or other specified bases (receipt of public assistance, or 
the fact that the applicant has in good faith exercised any right under 
the Consumer Credit Protection Act (15 U.S.C. 1600 et seq.)). To aid in 
implementation of this prohibition, the statute and regulation subject 
creditors to various mandatory disclosure requirements, notification 
provisions informing applicants of action taken on the credit 
application, provision of appraisal reports in connection with 
mortgages, credit history reporting, monitoring rules, and 
recordkeeping requirements. These requirements are triggered by 
specific events and disclosures must be provided within the time 
periods established by the statute and regulation.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 1691. The CFPB's Regulation B is located at 12 CFR 
part 1002.
---------------------------------------------------------------------------

    Legal authorization and confidentiality: The Board's Legal Division 
has determined that the CFPB is authorized to issue its Regulation B 
pursuant to its authority to prescribe regulations to carry out the 
purposes of ECOA (15 U.S.C. 1691b). The obligation to comply with the 
recordkeeping and disclosure requirements of CFPB's Regulation B is 
mandatory. Because the recordkeeping and disclosure requirements of the 
CFPB's Regulation B require creditors to retain their own records and 
to make certain disclosures to customers, the Freedom of Information 
Act (FOIA) would only be implicated if the Board's examiners retained a 
copy of this information as part of an examination a bank. Records 
obtained as a part of an examination or supervision of a bank are 
exempt from disclosure under FOIA exemption (b)(8), for examination 
material (5 U.S.C. 552(b)(8)). In addition, the records may also be 
exempt under (b)(4) or (b)(6). Records would be exempt under (b)(4) if 
the records contained ``trade secrets and commercial or financial 
information obtained from a person and privileged or confidential'' and 
the disclosure of the information would cause substantial harm to the 
competitive position of the respondents (5 U.S.C. 552(b)(4)). Records 
would be exempt under (b)(6) if the records contained personal 
information, the disclosure of which would ``constitute a clearly 
unwarranted invasion of personal privacy'' (5 U.S.C. 552(b)(6)).

    Board of Governors of the Federal Reserve System, April 9, 2018.
Ann Misback,
Secretary of the Board.
[FR Doc. 2018-07668 Filed 4-12-18; 8:45 am]
 BILLING CODE 6210-01-P