Proposed Agency Information Collection Activities; Comment Request, 13919-13921 [2019-06797]
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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).
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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
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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: https://www.federal
reserve.gov. Follow the instructions for
submitting comments at https://
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 https://
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:
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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 https://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
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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
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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
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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 https://
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 https://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.
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]]>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]
-----------------------------------------------------------------------
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: https://www.federalreserve.gov. Follow the
instructions for submitting comments at https://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 https://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 https://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
