Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 70189-70190 [2019-27469]

Download as PDF jbell on DSKJLSW7X2PROD with NOTICES Federal Register / Vol. 84, No. 245 / Friday, December 20, 2019 / Notices PRA@fcc.gov and to Nicole.Ongele@ fcc.gov. Include in the comments the OMB control number as shown in the SUPPLEMENTARY INFORMATION below. FOR FURTHER INFORMATION CONTACT: For additional information or copies of the information collection, contact Nicole Ongele at (202) 418–2991. To view a copy of this information collection request (ICR) submitted to OMB: (1) Go to the web page https://www.reginfo.gov/ public/do/PRAMain, (2) look for the section of the web page called ‘‘Currently Under Review,’’ (3) click on the downward-pointing arrow in the ‘‘Select Agency’’ box below the ‘‘Currently Under Review’’ heading, (4) select ‘‘Federal Communications Commission’’ from the list of agencies presented in the ‘‘Select Agency’’ box, (5) click the ‘‘Submit’’ button to the right of the ‘‘Select Agency’’ box, (6) when the list of FCC ICRs currently under review appears, look for the OMB control number of this ICR and then click on the ICR Reference Number. A copy of the FCC submission to OMB will be displayed. SUPPLEMENTARY INFORMATION: As part of its continuing effort to reduce paperwork burdens, and as required by the Paperwork Reduction Act (PRA) of 1995 (44 U.S.C. 3501–3520), the Federal Communications Commission (FCC or the Commission) invites the general public and other Federal agencies to take this opportunity to comment on the following information collection. Comments are requested concerning: Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; the accuracy of the Commission’s burden estimate; ways to enhance the quality, utility, and clarity of the information collected; ways to minimize the burden of the collection of information on the respondents, including the use of automated collection techniques or other forms of information technology; and ways to further reduce the information collection burden on small business concerns with fewer than 25 employees. OMB Control Number: 3060–XXXX. Title: Enhanced Geo-Targeted Wireless Emergency Alerts. Form No.: Not applicable. Type of Review: New information collection. Respondents: Individuals or households; State, Local or Tribal Government. Number of Respondents and Responses: 12,000 respondents and 14,000 responses. VerDate Sep<11>2014 18:30 Dec 19, 2019 Jkt 250001 Estimated Time per Response: 0.25 hours. Frequency of Response: One-time reporting requirement. Obligation to Respond: Voluntary. Statutory authority for this information collection is authorized under the Warning, Alert and Response Network Act, Title VI of the Security and Accountability for Every Port Act of 2006 (120 Stat. 1884, section 602(a), codified at 47 U.S.C. 1201, et seq., 1202(a)) (WARN Act) and 47 U.S.C. 151, 154(i), 154(j), 154(o), 218, 219, 230, 256, 301, 302(a), 303(f), 303(g), 303(j), 303(r) and 403. Total Annual Burden: 3,500 hours. Total Annual Costs: No Cost. Privacy Act Impact Assessment: Yes. The FCC is revising the Privacy Impact Assessment (PIA) and modifying the existing System of Records Notice (SORN), FCC/PSHSB–1, FCC Emergency and Continuity Contacts System (ECCS), for the Public Safety Support System to address the personally identifiable information (PII) that will be collected, used, and stored as part of the information collection requirements. Nature and Extent of Confidentiality: There is no need for confidentiality with this collection of information. Needs and Uses: The WARN Act gives the Commission authority to adopt relevant technical standards, protocols, procedures and other technical requirements governing Wireless Emergency Alerts (WEA). The Commission adopted rules to implement the WEA system (previously known as the Commercial Mobile Service Alert System) pursuant to the WARN Act to satisfy the Commission’s mandate to promote the safety of life and property through the use of wire and radio communication. The WEA system transmits emergency alerts to WEA-capable mobile devices, providing consumers with timely warnings and information in emergencies. In 2018, the Commission issued a Report & Order requiring that Participating Commercial Mobile Service Providers (providers) implement enhanced geo-targeting functionality by November 30, 2019 to allow WEA alert originators (e.g., local emergency management offices) to target a WEA alert to eligible devices in a prescribed geographic area (e.g., an area where there is imminent threat of the loss of life or property). See Federal Communications Commission, Wireless Emergency Alerts; Emergency Alert System, 83 FR 8619, 8623 (Feb. 28, 2018) (announcing a Nov. 30, 2019 amendment to 47 CFR 10.450). The Commission now seeks to evaluate WEA performance, particularly with respect to the accuracy of PO 00000 Frm 00044 Fmt 4703 Sfmt 4703 70189 providers’ geo-targeting capabilities. To do so, the Commission will use surveys to collect information and evaluate performance during a WEA test. Survey respondents affiliated with two alert originators, partnered with the Commission in different geographic areas of the country, will be asked to complete a preliminary survey. This survey will improve the utility of a ‘‘live test’’ survey, which respondents will subsequently receive via a hyperlink embedded in a WEA test alert. The Commission has developed survey templates, which are available at https://www.fcc.gov/files/weaprelimtest surveydec2019pdf and https:// www.fcc.gov/files/wealivetest surveydec2019pdf, that are representative of how the surveys will appear on the Commission’s Public Safety Support Center, and seeks OMB approval of these templates as a new information collection. The information sought in this collection is necessary and vital to ensuring that WEA is effective at protecting the life and property of the public. Federal Communications Commission. Marlene Dortch, Secretary, Office of the Secretary. [FR Doc. 2019–27501 Filed 12–19–19; 8:45 am] BILLING CODE 6712–01–P FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Bank Holding Companies 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, if any, 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 writing on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)). Comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of E:\FR\FM\20DEN1.SGM 20DEN1 70190 Federal Register / Vol. 84, No. 245 / Friday, December 20, 2019 / Notices the Board of Governors, Ann E. Misback, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington, DC 20551–0001, not later than January 20, 2020. A. Federal Reserve Bank of San Francisco (Gerald C. Tsai, Director, Applications and Enforcement) 101 Market Street, San Francisco, California 94105–1579: 1. Southern California Bancorp, San Diego, California; to become a bank holding company by acquiring Bank of Southern California, National Association, San Diego, California. 2. Southern California Bancorp, San Diego, California; to acquire CalWest Bancorp and thereby indirectly acquire CalWest Bank, both of Rancho Santa Margarita, California. Board of Governors of the Federal Reserve System, December 16, 2019. Yao-Chin Chao, Assistant Secretary of the Board. [FR Doc. 2019–27469 Filed 12–19–19; 8:45 am] BILLING CODE P FEDERAL TRADE COMMISSION Agency Information Collection Activities; Submission for OMB Review; Comment Request AGENCY: Federal Trade Commission (FTC). ACTION: Notice and request for comment. The FTC requests that the Office of Management and Budget (OMB) extend for three years the FTC’s portion of the information collection requirements contained in the Consumer Financial Protection Bureau’s Regulation N (the Mortgage Acts and Practices—Advertising Rule). The FTC shares enforcement of Regulation N with the Consumer Financial Protection Bureau (CFPB). That clearance expires on January 31, 2020. DATES: Comments must be received by January 21, 2020. ADDRESSES: Comments in response to this notice should be submitted to the OMB Desk Officer for the Federal Trade Commission within 30 days of this notice. You may submit comments using any of the following methods: Electronic: Write ‘‘Regulation N: PRA Comment, P072108,’’ on your comment and file your comment online at https:// www.regulations.gov, by following the instructions on the web-based form. Email: MBX.OMB.OIRA.Submission@ OMB.eop.gov. Fax: (202) 395–5806. Mail: Office of Information and Regulatory Affairs, Office of jbell on DSKJLSW7X2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 18:30 Dec 19, 2019 Jkt 250001 Management and Budget, Attention: Desk Officer for the Federal Trade Commission, New Executive Office Building, Docket Library, Room 10102, 725 17th Street NW, Washington, DC 20503. FOR FURTHER INFORMATION CONTACT: Carole L. Reynolds, Attorney, Division of Financial Practices, Bureau of Consumer Protection, Federal Trade Commission, 600 Pennsylvania Avenue NW, Washington, DC 20580, (202) 326– 3230. SUPPLEMENTARY INFORMATION: Title: Mortgage Acts and Practices— Advertising (Regulation N), 12 CFR 1014. OMB Control Number: 3084–0156. Type of Review: Extension of a currently approved collection. Abstract: The FTC and the CFPB generally share enforcement authority for Regulation N and thus the two agencies share burden estimates for Regulation N.1 Regulation N’s recordkeeping requirements constitute a ‘‘collection of information’’ 2 for purposes of the PRA.3 The Rule does not impose a disclosure requirement. Regulation N requires covered persons to retain: (1) Copies of materially different commercial communications and related materials, regarding any term of any mortgage credit product, that the person made or disseminated during the relevant time period; (2) documents describing or evidencing all mortgage credit products available to consumers during the relevant time period; and (3) documents describing or evidencing all additional products or services (such as credit insurance or credit disability insurance) that are or may be offered or provided with the mortgage credit products available to consumers during the relevant time period.4 A failure to keep such records would be an independent violation of the Rule. Regulation N’s 1 As background, the FTC’s Mortgage Acts and Practices—Advertising Rule, 16 CFR 321, was issued by the FTC in July 2011, 76 FR 43826 (July 22, 2011), and became effective on August 19, 2011. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) transferred to the CFPB the Commission’s rulemaking authority under section 626 of the 2009 Omnibus Appropriations Act on July 21, 2011. As a result, the CFPB republished the Mortgage Acts and Practices—Advertising Rule, at 12 CFR 1014, which became effective December 30, 2011. 76 FR 78130. Thereafter, the Commission rescinded its Rule, which was effective on April 13, 2012. 77 FR 22200. Under the Dodd-Frank Act, the FTC retains its authority to bring law enforcement actions to enforce Regulation N. 2 Section 1014.5 of the Rule sets forth the recordkeeping requirements. 3 See 44 U.S.C. 3502(3)(A). 4 Section 1014.5 of the Rule sets forth the recordkeeping requirements. PO 00000 Frm 00045 Fmt 4703 Sfmt 4703 recordkeeping requirements constitute a ‘‘collection of information’’ for purposes of the PRA.5 The Rule does not impose a disclosure requirement. Commission staff believes the recordkeeping requirements pertain to records that are usual and customary and kept in the ordinary course of business for many covered persons, such as mortgage brokers, lenders, and servicers; real estate brokers and agents; home builders, and advertising agencies.6 As to these persons, the retention of these documents does not constitute a ‘‘collection of information,’’ as defined by OMB’s regulations that implement the PRA.7 Certain other covered persons such as lead generators and rate aggregators may not currently maintain these records in the ordinary course of business.8 Thus, the recordkeeping requirements for those persons would constitute a ‘‘collection of information.’’ The information retained under the Rule’s recordkeeping requirements is used by the Commission to substantiate compliance with the Rule and may also provide a basis for the Commission to bring an enforcement action. Without the required records, it would be difficult either to ensure that entities are complying with the Rule’s requirements or to bring enforcement actions based on violations of the Rule. 5 See 44 U.S.C. 3502(3)(A). covered persons, particularly mortgage brokers and lenders, are subject to state recordkeeping requirements for mortgage advertisements. See, e.g., Fla. Stat. 494.00165 (2019); Ind. Code Ann. 23–2–5–18 (2018); Kan. Stat. Ann. 9–2208 (2018); Minn. Stat. 58.14 (2018); Wash. Rev. Code 19.146.060 (2018). Many mortgage brokers, lenders (including finance companies), and servicers are subject to state recordkeeping requirements for mortgage transactions and related documents, and these may include descriptions of mortgage credit products. See, e.g., Mich. Comp. Laws Serv. 445.1671 (2019); N.Y. Banking Law 597 (Consol. 2018); Tenn. Code Ann. 45–13–206 (2019). Lenders and mortgagees approved by the Federal Housing Administration must retain copies of all print and electronic advertisements and promotional materials for a period of two years from the date the materials are circulated or used to advertise. See 24 CFR 202. Various other entities, such as real estate brokers and agents, home builders, and advertising agencies can be indirectly covered by state recordkeeping requirements for mortgage advertisements and/or retain ads to demonstrate compliance with state law. See, e.g., 76 Del. Laws, c. 421, § 1. 7 See 44 U.S.C. 3502(3)(A); 5 CFR 1320.3(b)(2). 8 See, e.g., United States v. Intermundo Media, LLC, dba Delta Prime Refinance, No. 1:14–cv–2529 (D. Colo. filed Sept. 12, 2014) (D. Colo. Oct. 7, 2014) (stipulated order for permanent injunction and civil penalty judgment), available at https://www.ftc.gov/ system/files/documents/cases/ 140912deltaprimestiporder.pdf. The complaint charged this lead generator with numerous violations of Regulation N, including recordkeeping, and of other federal mortgage advertising mandates. 6 Some E:\FR\FM\20DEN1.SGM 20DEN1

Agencies

FEDERAL RESERVE SYSTEM

[Federal Register Volume 84, Number 245 (Friday, December 20, 2019)]
[Notices]
[Pages 70189-70190]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-27469]


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FEDERAL RESERVE SYSTEM


Formations of, Acquisitions by, and Mergers of Bank Holding 
Companies

    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, if any, 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 writing on the standards 
enumerated in the BHC Act (12 U.S.C. 1842(c)).
    Comments regarding each of these applications must be received at 
the Reserve Bank indicated or the offices of

[[Page 70190]]

the Board of Governors, Ann E. Misback, Secretary of the Board, 20th 
Street and Constitution Avenue NW, Washington, DC 20551-0001, not later 
than January 20, 2020.
    A. Federal Reserve Bank of San Francisco (Gerald C. Tsai, Director, 
Applications and Enforcement) 101 Market Street, San Francisco, 
California 94105-1579:
    1. Southern California Bancorp, San Diego, California; to become a 
bank holding company by acquiring Bank of Southern California, National 
Association, San Diego, California.
    2. Southern California Bancorp, San Diego, California; to acquire 
CalWest Bancorp and thereby indirectly acquire CalWest Bank, both of 
Rancho Santa Margarita, California.

    Board of Governors of the Federal Reserve System, December 16, 
2019.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2019-27469 Filed 12-19-19; 8:45 am]
 BILLING CODE P

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