Proposed Agency Information Collection Activities; Comment Request, 13919-13921 [2019-06797]

Download as PDF Federal Register / Vol. 84, No. 67 / Monday, April 8, 2019 / Notices 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, OMB delegated to the Board authority under the PRA to approve 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. jbell on DSK30RV082PROD with NOTICES 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 Board’s functions, including whether the information has practical utility; b. The accuracy of the Board’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 Board should modify the proposal. Proposal Under OMB Delegated Authority To Extend for Three Years, With Revision, the Following Information Collection Report title: Reporting Requirements Associated with Supervision and Regulation Assessments of Fees (Regulation TT). Agency form number: FR TT. OMB control number: 7100–0369. Frequency: On occasion. Respondents: Bank holding companies (BHCs) and savings and loan holding companies (SLHCs). VerDate Sep<11>2014 17:45 Apr 05, 2019 Jkt 247001 Estimated number of respondents: 3. Estimated average hours per response: 40. Estimated annual burden hours: 120. General description of report: The Board’s Regulation TT 2 implements section 11(s) of the Federal Reserve Act (FRA),3 which directs the Board to collect assessments, fees, or other charges (collectively, ‘‘assessments’’) from BHCs and SLHCs that meet a statutory size threshold and from all nonbank financial companies designated for Board supervision by the Financial Stability Oversight Council (FSOC) (collectively, assessed companies) in an amount equal to the total expenses the Board estimates are necessary or appropriate to carry out its supervisory and regulatory responsibilities with respect to such companies. Pursuant to Regulation TT, the Board issues an annual notice of assessment to each assessed company. Assessed companies may file a written appeal with the Board regarding the assessment.4 Proposed revisions: Section 401(c) of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) raised the size threshold in section 11(s) of the FRA for assessments for BHCs and SLHCs from $50 billion to $100 billion in total consolidated assets. Therefore, BHCs and SLHCs with total consolidated assets of at least $50 billion but less than $100 billion are no longer subject to section 11(s) assessments.5 Accordingly, the Board proposes to revise this collection of information so that it no longer applies to such BHCs and SLHCs. Legal authorization and confidentiality: The FR TT is authorized pursuant to section 11(i) of the FRA (12 U.S.C. 248(i)), which provides that the Board shall make all rules and regulations necessary to enable the Board to effectively perform the duties, functions, or services specified in the FRA. The FR TT is voluntary. An assessed company may request confidential treatment of its appeal if it believes that disclosure of specific commercial or financial information in the statement would likely result in substantial harm to its competitive position. The determination that such 2 12 CFR part 246. U.S.C. 248(s). Section 11(s) of the Federal Reserve Act was added by section 318 of the DoddFrank Wall Street Reform and Consumer Protection Act. 4 12 CFR 246.5(b). 5 The Board intends to publish a final rule to implement section 401(c) of EGRRCPA, which also requires the Board to adjust the amount charged to assessed companies to reflect any changes in supervisory and regulatory responsibilities resulting from EGRRCPA, in the near future. 3 12 PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 13919 information is confidential and not subject to disclosure under the Freedom of Information Act (FOIA) (5 U.S.C. 552), would need to made on a case-bycase basis, consistent with FOIA exemption 4 (5 U.S.C. 552(b)(4)). Board of Governors of the Federal Reserve System, April 2, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2019–06796 Filed 4–5–19; 8:45 am] BILLING CODE 6210–01–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 Regulation II (Debit Card Interchange Fees and Routing) (FR II; OMB No. 7100–0349). DATES: Comments must be submitted on or before June 7, 2019. ADDRESSES: You may submit comments, identified by FR II, by any of the following methods: • Agency website: http://www.federal reserve.gov. Follow the instructions for submitting comments at http:// www.federalreserve.gov/apps/foia/ proposedregs.aspx. • Email: regs.comments@federal reserve.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 on 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 in Room 146, 1709 New York Avenue 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 SUMMARY: E:\FR\FM\08APN1.SGM 08APN1 13920 Federal Register / Vol. 84, No. 67 / Monday, April 8, 2019 / Notices 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 Office of Management and Budget (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 Paperwork Reduction Act (PRA) OMB submission, including the proposed reporting form and instructions, supporting statement, and other documentation will be placed into OMB’s public docket files, if approved. These documents will also be made available on the 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, OMB delegated to the Board authority under the PRA to approve 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. jbell on DSK30RV082PROD with NOTICES 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 Board’s functions, including whether the information has practical utility; b. The accuracy of the Board’s estimate of the burden of the proposed VerDate Sep<11>2014 17:45 Apr 05, 2019 Jkt 247001 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 Board should modify the proposal. Proposal Under OMB Delegated Authority To Extend for Three Years, Without Revision, the Following Information Collection Report title: Recordkeeping and Disclosure Requirements Associated with Regulation II (Debit Card Interchange Fees and Routing). Agency form number: FR II. OMB control number: 7100–0349. Frequency: On occasion. Respondents: State member banks, national banks, insured nonmember banks, savings associations, and federally-chartered credit unions. Estimated number of respondents: Implement policies and procedures, 1 respondent; Review and update policies and procedures, 541 respondents; Annual notification and change in status, 541 respondents. Estimated average hours per response: Implement policies and procedures, 160 hours; Review and update policies and procedures, 40 hours; Annual notification and change in status, 1 hour. Estimated annual burden hours: Implement policies and procedures, 160 hours; Review and update policies and procedures, 21,640 hours; Annual notification and change in status, 541 hours. General description of report: Regulation II, Debit Card Interchange Fees and Routing (12 CFR part 235), implements, among other things, standards for assessing whether interchange transaction fees for electronic debit transactions are reasonable and proportional to the cost incurred by the issuer with respect to the transaction, as required by section 920(a) of the Electronic Fund Transfer Act (EFTA) (15 U.S.C. 1693o–2(a)). Regulation II limits the interchange transaction fee that covered issuers can charge for debit card transactions. PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 Under the rule a covered debit card issuer is allowed to receive or charge an amount of no more than 1 cent per transaction for the costs associated with preventing fraudulent electronic debit transactions (‘‘fraud-prevention adjustment’’), if the issuer complies with the standards and requirements set forth in the rule. In addition, issuers must retain records demonstrating their compliance with the requirements in Regulation II for at least five years after the end of the calendar year in which the electronic debit transaction occurred, any person or issuer subject to an investigation or enforcement proceeding involving Regulation II must retain records pertaining to the matter until the final disposition of the matter, unless an earlier time is allowed by court or agency order. The PRA classifies reporting, recordkeeping, or disclosure requirements of a regulation as an information collection. Legal authorization and confidentiality: Section 920(a)(3) of the EFTA (15 U.S.C. 1693o–2(a)(3)), as added by section 1075 of the DoddFrank Wall Street Reform and Consumer Protection Act, authorizes the Board to (1) prescribe regulations regarding interchange transaction fees that an issuer may charge with respect to electronic debit transactions, and to establish standards to assess whether the amount of any such fee is reasonable and proportional; and (2) require any issuer or payment card network to provide the Board such information as deemed necessary. Section 920(a)(5) of the EFTA (15 U.S.C. 1693o–2(a)(5)), further provides that the Board may allow for an adjustment to the interchange transaction fee amount received or charged by an issuer if ‘‘(1) such adjustment is reasonably necessary to make allowance for costs incurred by the issuer in preventing fraud in relation to electronic debit card transactions involving that issuer; and (2) the issuer complies with the fraud-related standards established by the Board.’’ Section 920(a)(5) also provides detailed requirements pertaining to the fraudrelated standards to be established by the Board and authorizes the Board to promulgate such standards by rule. In addition, the EFTA (15 U.S.C. 1693o(a) and 1693o–2(d)) authorizes enforcement of compliance with the requirements implemented under the EFTA by the Board for entities that the Board has enforcement authority over under section 8 of the Federal Deposit Insurance Act (12 U.S.C. 1818), which covers member banks (other than national banks), branches and agencies of foreign banks (other than federal E:\FR\FM\08APN1.SGM 08APN1 Federal Register / Vol. 84, No. 67 / Monday, April 8, 2019 / Notices 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 et seq. and 611 et seq.). Regulation II’s fraud-prevention recordkeeping requirements (12 CFR 235.4(b)) and disclosure requirements (12 CFR 235.4(c) and (d)) are required in order for an issuer to obtain a benefit (i.e., to be eligible to receive or charge the fraud-prevention adjustment). Regulation II’s general recordkeeping requirements for issuers (12 CFR 235.8(c)) are mandatory. The records and notifications required under sections 235.4(b)–(d) and 235.8(c) of Regulation II are generally not submitted to the Board or the other federal financial regulatory agencies. Accordingly, normally no confidentiality issues arise under the Freedom of Information Act (‘‘FOIA’’) (5 U.S.C. 552). In the event such records or notifications are obtained by the Board through the examination or enforcement process, such information may be kept confidential under exemption 8 of the FOIA, which protects information contained in or related to the examination or supervision of a financial institution (5 U.S.C. 552(b)(8)). Board of Governors of the Federal Reserve System, April 2, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. Board of Governors of the Federal Reserve System, April 3, 2019. Yao-Chin Chao, Assistant Secretary of the Board. [FR Doc. 2019–06866 Filed 4–5–19; 8:45 am] BILLING CODE P DEPARTMENT OF DEFENSE BILLING CODE 6210–01–P GENERAL SERVICES ADMINISTRATION FEDERAL RESERVE SYSTEM NATIONAL AERONAUTICS AND SPACE ADMINISTRATION [FR Doc. 2019–06797 Filed 4–5–19; 8:45 am] Formations of, Acquisitions by, and Mergers of Bank Holding Companies jbell on DSK30RV082PROD with NOTICES writing on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)). If the proposal also involves the acquisition of a nonbanking company, the review also includes whether the acquisition of the nonbanking company complies with the standards in section 4 of the BHC Act (12 U.S.C. 1843). Unless otherwise noted, nonbanking activities will be conducted throughout the United States. Unless otherwise noted, comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than May 3, 2019. A. Federal Reserve Bank of Dallas (Robert L. Triplett III, Senior Vice President) 2200 North Pearl Street, Dallas, Texas 75201–2272: 1. A.N.B. Holding Company, Ltd., Terrell, Texas; to acquire voting shares up to 36.5 percent, of The ANB Corporation, Terrell, Texas, and thereby indirectly acquire shares of The American National Bank of Texas, Terrell, Texas; Lakeside Bancshares, Inc., Rockwall, Texas; and Lakeside National Bank, Rockwall, Texas. The companies listed in this notice have applied to the Board for approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) (BHC Act), Regulation Y (12 CFR part 225), and all other applicable statutes and regulations to become a bank holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a bank or bank holding company and all of the banks and nonbanking companies owned by the bank holding company, including the companies listed below. The applications listed below, as well as other related filings required by the Board, are available for immediate inspection at the Federal Reserve Bank indicated. The applications will also be available for inspection at the offices of the Board of Governors. Interested persons may express their views in VerDate Sep<11>2014 17:45 Apr 05, 2019 Jkt 247001 [OMB Control No. 9000–0053; Docket No. 2019–0003; Sequence No. 6] Information Collection; Permits, Authorities, or Franchises Department of Defense (DOD), General Services Administration (GSA), and National Aeronautics and Space Administration (NASA). ACTION: Notice of request for public comments regarding an extension of a previously existing OMB clearance. AGENCY: Under the provisions of the Paperwork Reduction Act, the Regulatory Secretariat Division will be submitting to the Office of Management and Budget (OMB) a request to review and approve an extension of a previously approved information collection requirement concerning permits, authorities, or franchises for regulated transportation. DATES: Submit comments on or before June 7, 2019. SUMMARY: PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 13921 The FAR Council invites interested persons to submit comments on this collection by either of the following methods: • Federal eRulemaking Portal: This website provides the ability to type short comments directly into the comment field or attach a file for lengthier comments. Go to http:// www.regulations.gov and follow the instructions on the site. • Mail: General Services Administration, Regulatory Secretariat Division (MVCB), 1800 F Street NW, Washington, DC 20405. ATTN: Ms. Mandell/IC 9000–0053, Permits, Authorities, or Franchises. Instructions: All items submitted must cite Information Collection 9000– 0053, Permits, Authorities, or Franchises. Comments received generally will be posted without change to http://www.regulations.gov, including any personal and/or business confidential information provided. To confirm receipt of your comment(s), please check www.regulations.gov, approximately two to three days after submission to verify posting (except allow 30 days for posting of comments submitted by mail). This information collection is pending at the FAR Council. The Council will submit it to OMB within 60 days from the date of this notice. FOR FURTHER INFORMATION CONTACT: Mr. Michael O. Jackson, Procurement Analyst, Office of Governmentwide Acquisition Policy, GSA, 202–208– 4949, or email michaelo.jackson@ gsa.gov. SUPPLEMENTARY INFORMATION: ADDRESSES: A. Solicitation of Public Comment Written comments and suggestions from the public should address one or more of the following four points: (1) Evaluate whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (2) Evaluate the accuracy of the agency’s estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; (3) Enhance the quality, utility, and clarity of the information to be collected; and (4) Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. E:\FR\FM\08APN1.SGM 08APN1

Agencies

[Federal Register Volume 84, Number 67 (Monday, April 8, 2019)]
[Notices]
[Pages 13919-13921]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-06797]


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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 
Regulation II (Debit Card Interchange Fees and Routing) (FR II; OMB No. 
7100-0349).

DATES: Comments must be submitted on or before June 7, 2019.

ADDRESSES: You may submit comments, identified by FR II, 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 on 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 in Room 146, 
1709 New York Avenue 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

[[Page 13920]]

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 
Office of Management and Budget (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 Paperwork Reduction Act 
(PRA) OMB submission, including the proposed reporting form and 
instructions, supporting statement, and other documentation will be 
placed into OMB's public docket files, if approved. These documents 
will also be made available on the 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, OMB delegated to the Board 
authority under the PRA to approve 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 Board's functions, including whether the 
information has practical utility;
    b. The accuracy of the Board'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 Board 
should modify the proposal.

Proposal Under OMB Delegated Authority To Extend for Three Years, 
Without Revision, the Following Information Collection

    Report title: Recordkeeping and Disclosure Requirements Associated 
with Regulation II (Debit Card Interchange Fees and Routing).
    Agency form number: FR II.
    OMB control number: 7100-0349.
    Frequency: On occasion.
    Respondents: State member banks, national banks, insured nonmember 
banks, savings associations, and federally-chartered credit unions.
    Estimated number of respondents: Implement policies and procedures, 
1 respondent; Review and update policies and procedures, 541 
respondents; Annual notification and change in status, 541 respondents.
    Estimated average hours per response: Implement policies and 
procedures, 160 hours; Review and update policies and procedures, 40 
hours; Annual notification and change in status, 1 hour.
    Estimated annual burden hours: Implement policies and procedures, 
160 hours; Review and update policies and procedures, 21,640 hours; 
Annual notification and change in status, 541 hours.
    General description of report: Regulation II, Debit Card 
Interchange Fees and Routing (12 CFR part 235), implements, among other 
things, standards for assessing whether interchange transaction fees 
for electronic debit transactions are reasonable and proportional to 
the cost incurred by the issuer with respect to the transaction, as 
required by section 920(a) of the Electronic Fund Transfer Act (EFTA) 
(15 U.S.C. 1693o-2(a)).
    Regulation II limits the interchange transaction fee that covered 
issuers can charge for debit card transactions. Under the rule a 
covered debit card issuer is allowed to receive or charge an amount of 
no more than 1 cent per transaction for the costs associated with 
preventing fraudulent electronic debit transactions (``fraud-prevention 
adjustment''), if the issuer complies with the standards and 
requirements set forth in the rule. In addition, issuers must retain 
records demonstrating their compliance with the requirements in 
Regulation II for at least five years after the end of the calendar 
year in which the electronic debit transaction occurred, any person or 
issuer subject to an investigation or enforcement proceeding involving 
Regulation II must retain records pertaining to the matter until the 
final disposition of the matter, unless an earlier time is allowed by 
court or agency order. The PRA classifies reporting, recordkeeping, or 
disclosure requirements of a regulation as an information collection.
    Legal authorization and confidentiality: Section 920(a)(3) of the 
EFTA (15 U.S.C. 1693o-2(a)(3)), as added by section 1075 of the Dodd-
Frank Wall Street Reform and Consumer Protection Act, authorizes the 
Board to (1) prescribe regulations regarding interchange transaction 
fees that an issuer may charge with respect to electronic debit 
transactions, and to establish standards to assess whether the amount 
of any such fee is reasonable and proportional; and (2) require any 
issuer or payment card network to provide the Board such information as 
deemed necessary. Section 920(a)(5) of the EFTA (15 U.S.C. 1693o-
2(a)(5)), further provides that the Board may allow for an adjustment 
to the interchange transaction fee amount received or charged by an 
issuer if ``(1) such adjustment is reasonably necessary to make 
allowance for costs incurred by the issuer in preventing fraud in 
relation to electronic debit card transactions involving that issuer; 
and (2) the issuer complies with the fraud-related standards 
established by the Board.'' Section 920(a)(5) also provides detailed 
requirements pertaining to the fraud-related standards to be 
established by the Board and authorizes the Board to promulgate such 
standards by rule. In addition, the EFTA (15 U.S.C. 1693o(a) and 1693o-
2(d)) authorizes enforcement of compliance with the requirements 
implemented under the EFTA by the Board for entities that the Board has 
enforcement authority over under section 8 of the Federal Deposit 
Insurance Act (12 U.S.C. 1818), which covers member banks (other than 
national banks), branches and agencies of foreign banks (other than 
federal

[[Page 13921]]

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 et seq. and 611 et seq.).
    Regulation II's fraud-prevention recordkeeping requirements (12 CFR 
235.4(b)) and disclosure requirements (12 CFR 235.4(c) and (d)) are 
required in order for an issuer to obtain a benefit (i.e., to be 
eligible to receive or charge the fraud-prevention adjustment). 
Regulation II's general recordkeeping requirements for issuers (12 CFR 
235.8(c)) are mandatory. The records and notifications required under 
sections 235.4(b)-(d) and 235.8(c) of Regulation II are generally not 
submitted to the Board or the other federal financial regulatory 
agencies. Accordingly, normally no confidentiality issues arise under 
the Freedom of Information Act (``FOIA'') (5 U.S.C. 552). In the event 
such records or notifications are obtained by the Board through the 
examination or enforcement process, such information may be kept 
confidential under exemption 8 of the FOIA, which protects information 
contained in or related to the examination or supervision of a 
financial institution (5 U.S.C. 552(b)(8)).

    Board of Governors of the Federal Reserve System, April 2, 2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-06797 Filed 4-5-19; 8:45 am]
 BILLING CODE 6210-01-P