Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Privacy of Consumer Financial Information, 36162-36164 [2019-15862]
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36162
Federal Register / Vol. 84, No. 144 / Friday, July 26, 2019 / Notices
OMB for each collection of information
that they conduct or sponsor.
‘‘Collection of information’’ is defined
in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) to include agency requests or
requirements that members of the public
submit reports, keep records, or provide
information to a third party. The OCC
asks OMB to extend its approval of this
collection.
Title: Lending Limits.
OMB Control No.: 1557–0221.
Affected Public: Businesses or other
for-profit.
Type of Review: Extension of a
currently approved collection.
Description: 12 CFR 32.7(a) provides
that, in addition to the amount that a
national bank or savings association
may lend to one borrower under 12 CFR
32.3, an eligible national bank or
savings association may make:
(1) Residential real estate loans or
extensions of credit to one borrower in
the lesser of the following two amounts:
10 percent of its capital and surplus; or
the percent of its capital and surplus, in
excess of 15 percent, that a state bank
or savings association is permitted to
lend under the state lending limit that
is available for residential real estate
loans or unsecured loans in the state
where the main office of the national
bank or savings association is located;
(2) Small business loans or extensions
of credit to one borrower in the lesser
of the following two amounts: 10
percent of its capital and surplus; or the
percent of its capital and surplus, in
excess of 15 percent, that a state bank
is permitted to lend under the state
lending limit that is available for small
business loans or unsecured loans in the
state where the main office of the
national bank or home office of the
savings association is located; and
(3) Small farm loans or extensions of
credit to one borrower in the lesser of
the following two amounts: 10 percent
of its capital and surplus; or the percent
of its capital and surplus, in excess of
15 percent, that a state bank or savings
association is permitted to lend under
the state lending limit that is available
for small farm loans or unsecured loans
in the state where the main office of the
national bank or savings association is
located.
An eligible national bank or savings
association must submit an application
to, and receive approval from, its
supervisory office before using the
supplemental lending limits in § 32.7(a).
The supervisory office may approve a
completed application if it finds that
approval is consistent with safety and
soundness. Section 32.7(b) provides that
the application must include:
VerDate Sep<11>2014
17:54 Jul 25, 2019
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(1) Certification that the national bank
or savings association is an eligible bank
or eligible savings association;
(2) Citations to relevant state laws or
regulations;
(3) A copy of a written resolution by
a majority of the bank’s or savings
association’s board of directors
approving the use of the limits and
confirming the terms and conditions for
use of this lending authority; and
(4) A description of how the board
will exercise its continuing
responsibility to oversee the use of this
lending authority.
Twelve CFR 32.9(b) provides national
banks and savings associations with
three alternative methods for calculating
the credit exposure of non-credit
derivative transactions (the Internal
Model Method, the Conversion Factor
Matrix Method, and the Current
Exposure Method) and two alternative
methods for calculating such exposure
for securities financing transactions.
The OCC provided these alternative
methods to reduce the practical burden
of such calculations, particularly for
small and mid-size banks and savings
associations.
Under 12 CFR 32.9(b)(1)(i)(C)(1), the
use of a model (other than the model
approved for purposes of the Advanced
Measurement Approach in the capital
rules) must be approved in advance and
in writing by the OCC specifically for
part 32 purposes. If a national bank or
federal savings association proposes to
use an internal model that has been
approved by the OCC for purposes of
the Advanced Measurement Approach,
the institution must provide prior
written notification to the OCC prior to
use of the model for lending limits
purposes. OCC approval also is required
before any substantive revisions are
made to a model that is used for lending
limits purposes.
Frequency of Response: On occasion.
Estimated Number of Respondents:
295.
Estimated Annual Burden: 1,958
hours.
On May 6, 2019, the OCC issued a
notice for 60 days of comment
concerning this collection, 84 FR 19827.
No comments were received.
Comments continue to be invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
OCC, including whether the information
has practical utility;
(b) The accuracy of the OCC’s
estimate of the information collection
burden;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected;
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(d) Ways to minimize the burden of
the collection on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and
(e) Estimates of capital or start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
Dated: July 17, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2019–15861 Filed 7–25–19; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Submission for OMB Review;
Privacy of Consumer Financial
Information
Office of the Comptroller of the
Currency (OCC), Treasury.
ACTION: Notice and request for comment.
AGENCY:
SUMMARY: The OCC, as part of its
continuing effort to reduce paperwork
and respondent burden, invites the
general public and other federal
agencies to take this opportunity to
comment on a continuing information
collection as required by the Paperwork
Reduction Act of 1995 (PRA).
In accordance with the requirements
of the PRA, the OCC may not conduct
or sponsor, and respondents are not
required to respond to, an information
collection unless it displays a currently
valid Office of Management and Budget
(OMB) control number.
The OCC is soliciting comment
concerning the renewal of its
information collection titled, ‘‘Privacy
of Consumer Financial Information.’’
The OCC also is giving notice that it has
sent the collection to OMB for review.
DATES: Comments must be received on
or before August 26, 2019.
ADDRESSES: Commenters are encouraged
to submit comments by email, if
possible. You may submit comments by
any of the following methods:
• Email: prainfo@occ.treas.gov.
• Mail: Chief Counsel’s Office,
Attention: Comment Processing, 1557–
0216, Office of the Comptroller of the
Currency, 400 7th Street SW, Suite 3E–
218, Washington, DC 20219.
• Hand Delivery/Courier: 400 7th
Street SW, Suite 3E–218, Washington,
DC 20219.
• Fax: (571) 465–4326.
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jbell on DSK3GLQ082PROD with NOTICES
Federal Register / Vol. 84, No. 144 / Friday, July 26, 2019 / Notices
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘1557–
0216’’ in your comment. In general, the
OCC will publish comments on
www.reginfo.gov without change,
including any business or personal
information provided, such as name and
address information, email addresses, or
phone numbers. Comments received,
including attachments and other
supporting materials, are part of the
public record and subject to public
disclosure. Do not include any
information in your comment or
supporting materials that you consider
confidential or inappropriate for public
disclosure.
Additionally, please send a copy of
your comments by mail to: OCC Desk
Officer, 1557–0216, U.S. Office of
Management and Budget, 725 17th
Street NW, #10235, Washington, DC
20503 or by email to oira_submission@
omb.eop.gov.
You may review comments and other
related materials that pertain to this
information collection 1 following the
close of the 30-day comment period for
this notice by any of the following
methods:
• Viewing Comments Electronically:
Go to www.reginfo.gov. Click on the
‘‘Information Collection Review’’ tab.
Underneath the ‘‘Currently under
Review’’ section heading, from the dropdown menu select ‘‘Department of
Treasury’’ and then click ‘‘submit.’’ This
information collection can be located by
searching by OMB control number
‘‘1557–0216’’ or ‘‘Privacy of Consumer
Financial Information’’. Upon finding
the appropriate information collection,
click on the related ‘‘ICR Reference
Number.’’ On the next screen, select
‘‘View Supporting Statement and Other
Documents’’ and then click on the link
to any comment listed at the bottom of
the screen.
• For assistance in navigating
www.reginfo.gov, please contact the
Regulatory Information Service Center
at (202) 482–7340.
• Viewing Comments Personally: You
may personally inspect comments at the
OCC, 400 7th Street SW, Washington,
DC. For security reasons, the OCC
requires that visitors make an
appointment to inspect comments. You
may do so by calling (202) 649–6700 or,
for persons who are deaf or hearing
impaired, TTY, (202) 649–5597. Upon
arrival, visitors will be required to
present valid government-issued photo
identification and submit to security
screening in order to inspect comments.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, Clearance Officer,
1 On April 15, 2019, the OCC published a 60-day
notice for this information collection, 84 FR 15290.
VerDate Sep<11>2014
18:59 Jul 25, 2019
Jkt 247001
(202) 649–5490 or, for persons who are
deaf or hearing impaired, TTY, (202)
649–5597, Chief Counsel’s Office, Office
of the Comptroller of the Currency, 400
7th Street SW, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the
PRA (44 U.S.C. 3501 et seq.), federal
agencies must obtain approval from the
OMB for each collection of information
that they conduct or sponsor.
‘‘Collection of information’’ is defined
in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) to include agency requests or
requirements that members of the public
submit reports, keep records, or provide
information to a third party. The OCC
asks that OMB extend its approval of the
information collection in this notice.
Title: Privacy of Consumer Financial
Information.
OMB Control No.: 1557–0216.
Description: The Gramm-Leach-Bliley
Act (Act) (Pub. L. 106–102) requires this
information collection. Regulation P (12
CFR part 1016), a regulation
promulgated by the Consumer Financial
Protection Board (CFPB), implements
the Act’s notice requirements and
restrictions on a financial institution’s
ability to disclose nonpublic personal
information about consumers to
nonaffiliated third parties.
The information collection
requirements in 12 CFR part 1016 are as
follows:
§ 1016.4(a) Initial privacy notice to
consumers requirement—A national
bank or federal savings association must
provide a clear and conspicuous notice
to customers and consumers that
accurately reflects its privacy policies
and practices.
§ 1016.5(a)(1) Annual privacy notice
to customers requirement—A national
bank or federal savings association must
provide a clear and conspicuous notice
to customers that accurately reflects its
privacy policies and practices not less
than annually during the continuation
of the customer relationship.
§ 1016.8 Revised privacy notices—
Before a national bank or federal savings
association discloses any nonpublic
personal information in a way that is
inconsistent with the notices previously
given to a consumer, the institution
must provide the consumer with a clear
and conspicuous revised notice of the
institution’s policies and practices,
provide the consumer with a new opt
out notice, give the consumer a
reasonable opportunity to opt out of the
disclosure, and the consumer must not
opt out.
§ 1016.7(a) Form of opt out notice to
consumers; opt out methods—Form of
opt out notice—If a national bank or
federal savings association is required to
provide an opt out notice under
§ 1016.10(a), it must provide to each of
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36163
its consumers a clear and conspicuous
notice that accurately explains the right
to opt out under that section. The notice
must state:
• That the national bank or federal
savings association discloses or reserves
the right to disclose nonpublic personal
information about its consumer to a
nonaffiliated third party;
• That the consumer has the right to
opt out of that disclosure; and
• A reasonable means by which the
consumer may exercise the opt out
right.
A national bank or federal savings
association provides a reasonable means
to exercise an opt out right if it:
• Designates check-off boxes on the
relevant forms with the opt out notice;
• Includes a reply form with the opt
out notice;
• Provides an electronic means to opt
out; or
• Provides a toll-free number that
consumers may call to opt out.
§§ 1016.10(a)(2) and 1016.10(c)—
Consumers must take affirmative
actions to exercise their rights to prevent
financial institutions from sharing their
information with nonaffiliated parties—
• Opt out—Consumers may direct
that the national bank or federal savings
association to not disclose nonpublic
personal information about them to a
nonaffiliated third party, other than
permitted by §§ 1016.13–1016.15.
• Partial opt out—Consumers may
exercise partial opt out rights by
selecting certain nonpublic personal
information or certain nonaffiliated
third parties with respect to which the
consumer wishes to opt out.
§§ 1016.7(h) and 1016.7(i) Continuing
right to opt out and Duration of right to
opt out—A consumer may exercise the
right to opt out at any time. A
consumer’s direction to opt out is
effective until the consumer revokes it
in writing or, if the consumer agrees,
electronically. When a customer
relationship terminates, the customer’s
opt out direction continues to apply to
the nonpublic personal information
collected during or related to that
relationship.
Type of Review: Regular.
Affected Public: Businesses or other
for-profit; individuals.
Frequency of Response: On occasion.
Estimated Annual Number of
Respondents: 2,451,659.
Estimated Total Annual Burden
Hours: 626,011.25 hours.
On April 15, 2019, the OCC issued a
notice for 60 days of comment
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Federal Register / Vol. 84, No. 144 / Friday, July 26, 2019 / Notices
concerning this collection, 84 FR 15290.
No comments were received. Comments
continue to be invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
OCC, including whether the information
has practical utility;
(b) The accuracy of the OCC’s
estimate of the burden of the collection
of information;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected;
(d) Ways to minimize the burden of
the collection on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and
(e) Estimates of capital or start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
Dated: July 18, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
For
information regarding the application
from the Composition Roofers Local 42
Pension Fund, please contact Treasury
at (202) 622–1534 (not a toll-free
number).
FOR FURTHER INFORMATION CONTACT:
[FR Doc. 2019–15862 Filed 7–25–19; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Department of the Treasury.
Notice of availability; Request
for comments.
AGENCY:
jbell on DSK3GLQ082PROD with NOTICES
ACTION:
SUMMARY: The Board of Trustees of the
Composition Roofers Local 42 Pension
Fund, a multiemployer pension plan,
has submitted an application to reduce
benefits under the plan in accordance
with the Multiemployer Pension Reform
Act of 2014 (MPRA). The purpose of
this notice is to announce that the
application submitted by the Board of
Trustees of the Composition Roofers
Local 42 Pension Fund has been
published on the website of the
Department of the Treasury (Treasury),
and to request public comments on the
application from interested parties,
including participants and beneficiaries,
employee organizations, and
contributing employers of the
Composition Roofers Local 42 Pension
Fund.
DATES: Comments must be received by
September 9, 2019.
ADDRESSES: You may submit comments
electronically through the Federal
eRulemaking Portal at https://
www.regulations.gov, in accordance
with the instructions on that site.
Electronic submissions through
www.regulations.gov are encouraged.
17:54 Jul 25, 2019
Jkt 247001
MPRA
amended the Internal Revenue Code to
permit a multiemployer plan that is
projected to have insufficient funds to
reduce pension benefits payable to
participants and beneficiaries if certain
conditions are satisfied. In order to
reduce benefits, the plan sponsor is
required to submit an application to the
Secretary of the Treasury, which must
be approved or denied in consultation
with the Pension Benefit Guaranty
Corporation (PBGC) and the Department
of Labor.
On June 28, 2019, the Board of
Trustees of the Composition Roofers
Local 42 Pension Fund submitted an
application for approval to reduce
benefits under the plan. As required by
MPRA, that application has been
published on Treasury’s website at
https://www.treasury.gov/services/
Pages/Plan-Applications.aspx. Treasury
is publishing this notice in the Federal
Register, in consultation with PBGC and
the Department of Labor, to solicit
public comments on all aspects of the
Composition Roofers Local 42 Pension
Fund application.
Comments are requested from
interested parties, including
participants and beneficiaries, employee
organizations, and contributing
employers of the Composition Roofers
Local 42 Pension Fund. Consideration
will be given to any comments that are
timely received by Treasury.
SUPPLEMENTARY INFORMATION:
Multiemployer Pension Plan
Application To Reduce Benefits
VerDate Sep<11>2014
Comments may also be mailed to the
Department of the Treasury, MPRA
Office, 1500 Pennsylvania Avenue NW,
Room 1224, Washington, DC 20220,
Attn: Danielle Norris. Comments sent
via facsimile or email will not be
accepted.
Additional Instructions. All
comments received, including
attachments and other supporting
materials, will be made available to the
public. Do not include any personally
identifiable information (such as your
Social Security number, name, address,
or other contact information) or any
other information in your comment or
supporting materials that you do not
want publicly disclosed. Treasury will
make comments available for public
inspection and copying on
www.regulations.gov or upon request.
Comments posted on the internet can be
retrieved by most internet search
engines.
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Dated: July 22, 2019.
David Kautter,
Assistant Secretary for Tax Policy.
[FR Doc. 2019–15912 Filed 7–25–19; 8:45 am]
BILLING CODE 4810–25–P
DEPARTMENT OF THE TREASURY
Multiemployer Pension Plan
Application To Reduce Benefits
Department of the Treasury.
Notice of availability; Request
for comments.
AGENCY:
ACTION:
SUMMARY: The Board of Trustees of the
IBEW Local 237 Pension Fund, a
multiemployer pension plan, has
submitted an application to reduce
benefits under the plan in accordance
with the Multiemployer Pension Reform
Act of 2014 (MPRA). The purpose of
this notice is to announce that the
application submitted by the Board of
Trustees of the IBEW Local 237 Pension
Fund has been published on the website
of the Department of the Treasury
(Treasury), and to request public
comments on the application from
interested parties, including
participants and beneficiaries, employee
organizations, and contributing
employers of the IBEW Local 237
Pension Fund.
DATES: Comments must be received by
September 9, 2019.
ADDRESSES: You may submit comments
electronically through the Federal
eRulemaking Portal at https://
www.regulations.gov, in accordance
with the instructions on that site.
Electronic submissions through
www.regulations.gov are encouraged.
Comments may also be mailed to the
Department of the Treasury, MPRA
Office, 1500 Pennsylvania Avenue NW,
Room 1224, Washington, DC 20220,
Attn: Danielle Norris. Comments sent
via facsimile or email will not be
accepted.
Additional Instructions. All
comments received, including
attachments and other supporting
materials, will be made available to the
public. Do not include any personally
identifiable information (such as your
Social Security number, name, address,
or other contact information) or any
other information in your comment or
supporting materials that you do not
want publicly disclosed. Treasury will
make comments available for public
inspection and copying on
www.regulations.gov or upon request.
Comments posted on the internet can be
retrieved by most internet search
engines.
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]]>Agencies
[Federal Register Volume 84, Number 144 (Friday, July 26, 2019)]
[Notices]
[Pages 36162-36164]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-15862]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Privacy of Consumer Financial
Information
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other federal
agencies to take this opportunity to comment on a continuing
information collection as required by the Paperwork Reduction Act of
1995 (PRA).
In accordance with the requirements of the PRA, the OCC may not
conduct or sponsor, and respondents are not required to respond to, an
information collection unless it displays a currently valid Office of
Management and Budget (OMB) control number.
The OCC is soliciting comment concerning the renewal of its
information collection titled, ``Privacy of Consumer Financial
Information.'' The OCC also is giving notice that it has sent the
collection to OMB for review.
DATES: Comments must be received on or before August 26, 2019.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
Email: [email protected].
Mail: Chief Counsel's Office, Attention: Comment
Processing, 1557-0216, Office of the Comptroller of the Currency, 400
7th Street SW, Suite 3E-218, Washington, DC 20219.
Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
Fax: (571) 465-4326.
[[Page 36163]]
Instructions: You must include ``OCC'' as the agency name and
``1557-0216'' in your comment. In general, the OCC will publish
comments on www.reginfo.gov without change, including any business or
personal information provided, such as name and address information,
email addresses, or phone numbers. Comments received, including
attachments and other supporting materials, are part of the public
record and subject to public disclosure. Do not include any information
in your comment or supporting materials that you consider confidential
or inappropriate for public disclosure.
Additionally, please send a copy of your comments by mail to: OCC
Desk Officer, 1557-0216, U.S. Office of Management and Budget, 725 17th
Street NW, #10235, Washington, DC 20503 or by email to
[email protected].
You may review comments and other related materials that pertain to
this information collection \1\ following the close of the 30-day
comment period for this notice by any of the following methods:
---------------------------------------------------------------------------
\1\ On April 15, 2019, the OCC published a 60-day notice for
this information collection, 84 FR 15290.
---------------------------------------------------------------------------
Viewing Comments Electronically: Go to www.reginfo.gov.
Click on the ``Information Collection Review'' tab. Underneath the
``Currently under Review'' section heading, from the drop-down menu
select ``Department of Treasury'' and then click ``submit.'' This
information collection can be located by searching by OMB control
number ``1557-0216'' or ``Privacy of Consumer Financial Information''.
Upon finding the appropriate information collection, click on the
related ``ICR Reference Number.'' On the next screen, select ``View
Supporting Statement and Other Documents'' and then click on the link
to any comment listed at the bottom of the screen.
For assistance in navigating www.reginfo.gov, please
contact the Regulatory Information Service Center at (202) 482-7340.
Viewing Comments Personally: You may personally inspect
comments at the OCC, 400 7th Street SW, Washington, DC. For security
reasons, the OCC requires that visitors make an appointment to inspect
comments. You may do so by calling (202) 649-6700 or, for persons who
are deaf or hearing impaired, TTY, (202) 649-5597. Upon arrival,
visitors will be required to present valid government-issued photo
identification and submit to security screening in order to inspect
comments.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer,
(202) 649-5490 or, for persons who are deaf or hearing impaired, TTY,
(202) 649-5597, Chief Counsel's Office, Office of the Comptroller of
the Currency, 400 7th Street SW, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501 et seq.),
federal agencies must obtain approval from the OMB for each collection
of information that they conduct or sponsor. ``Collection of
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to
include agency requests or requirements that members of the public
submit reports, keep records, or provide information to a third party.
The OCC asks that OMB extend its approval of the information collection
in this notice.
Title: Privacy of Consumer Financial Information.
OMB Control No.: 1557-0216.
Description: The Gramm-Leach-Bliley Act (Act) (Pub. L. 106-102)
requires this information collection. Regulation P (12 CFR part 1016),
a regulation promulgated by the Consumer Financial Protection Board
(CFPB), implements the Act's notice requirements and restrictions on a
financial institution's ability to disclose nonpublic personal
information about consumers to nonaffiliated third parties.
The information collection requirements in 12 CFR part 1016 are as
follows:
Sec. 1016.4(a) Initial privacy notice to consumers requirement--A
national bank or federal savings association must provide a clear and
conspicuous notice to customers and consumers that accurately reflects
its privacy policies and practices.
Sec. 1016.5(a)(1) Annual privacy notice to customers requirement--
A national bank or federal savings association must provide a clear and
conspicuous notice to customers that accurately reflects its privacy
policies and practices not less than annually during the continuation
of the customer relationship.
Sec. 1016.8 Revised privacy notices--Before a national bank or
federal savings association discloses any nonpublic personal
information in a way that is inconsistent with the notices previously
given to a consumer, the institution must provide the consumer with a
clear and conspicuous revised notice of the institution's policies and
practices, provide the consumer with a new opt out notice, give the
consumer a reasonable opportunity to opt out of the disclosure, and the
consumer must not opt out.
Sec. 1016.7(a) Form of opt out notice to consumers; opt out
methods--Form of opt out notice--If a national bank or federal savings
association is required to provide an opt out notice under Sec.
1016.10(a), it must provide to each of its consumers a clear and
conspicuous notice that accurately explains the right to opt out under
that section. The notice must state:
That the national bank or federal savings association
discloses or reserves the right to disclose nonpublic personal
information about its consumer to a nonaffiliated third party;
That the consumer has the right to opt out of that
disclosure; and
A reasonable means by which the consumer may exercise the
opt out right.
A national bank or federal savings association provides a
reasonable means to exercise an opt out right if it:
Designates check-off boxes on the relevant forms with the
opt out notice;
Includes a reply form with the opt out notice;
Provides an electronic means to opt out; or
Provides a toll-free number that consumers may call to opt
out.
Sec. Sec. 1016.10(a)(2) and 1016.10(c)--Consumers must take
affirmative actions to exercise their rights to prevent financial
institutions from sharing their information with nonaffiliated
parties--
Opt out--Consumers may direct that the national bank or
federal savings association to not disclose nonpublic personal
information about them to a nonaffiliated third party, other than
permitted by Sec. Sec. 1016.13-1016.15.
Partial opt out--Consumers may exercise partial opt out
rights by selecting certain nonpublic personal information or certain
nonaffiliated third parties with respect to which the consumer wishes
to opt out.
Sec. Sec. 1016.7(h) and 1016.7(i) Continuing right to opt out and
Duration of right to opt out--A consumer may exercise the right to opt
out at any time. A consumer's direction to opt out is effective until
the consumer revokes it in writing or, if the consumer agrees,
electronically. When a customer relationship terminates, the customer's
opt out direction continues to apply to the nonpublic personal
information collected during or related to that relationship.
Type of Review: Regular.
Affected Public: Businesses or other for-profit; individuals.
Frequency of Response: On occasion. Estimated Annual Number of
Respondents: 2,451,659.
Estimated Total Annual Burden Hours: 626,011.25 hours.
On April 15, 2019, the OCC issued a notice for 60 days of comment
[[Page 36164]]
concerning this collection, 84 FR 15290. No comments were received.
Comments continue to be invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the OCC, including whether the
information has practical utility;
(b) The accuracy of the OCC's estimate of the burden of the
collection of information;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of the collection on respondents,
including through the use of automated collection techniques or other
forms of information technology; and
(e) Estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: July 18, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2019-15862 Filed 7-25-19; 8:45 am]
BILLING CODE 4810-33-P
