Proposed Agency Information Collection Activities; Comment Request, 2742-2744 [2020-00634]
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2742
Federal Register / Vol. 85, No. 11 / Thursday, January 16, 2020 / Notices
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.
SUPPLEMENTARY INFORMATION: On June
15, 1984, OMB delegated to the Board
authority under the PRA to approve and
assign OMB control numbers to
collections of information 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.
khammond on DSKJM1Z7X2PROD 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 Implement the Following
Information Collection
Report title: Pre-Hire Conflict of
Interest Screening Form.
Agency form number: FR 28c.
OMB control number: 7100–NEW.
Frequency: As needed.
Respondents: Individuals who have
been selected for an interview during
the hiring process.
Estimated number of respondents:
2,300.
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17:49 Jan 15, 2020
Jkt 250001
Estimated average hours per response:
0.5.
Estimated annual burden hours:
1,150.
General description of report: The
proposed FR 28c form will collect
information from external applicants
applying to the Board regarding certain
financial interests and business
relationships held by the applicant and
by his/her immediate family members,
as well as the external applicant’s
involvement with certain outside
organizations, to determine whether a
conflict of interest may exist, which
could impact the applicant’s ability to
fulfill the responsibilities associated
with the position for which they have
applied.
Legal authorization and
confidentiality: The collection of this
information is authorized by section 10
of the Federal Reserve Act, 12 U.S.C.
244, which provides that the
‘‘employment, compensation, leave, and
expenses’’ of Board employees ‘‘shall be
governed solely by the provisions of this
chapter and rules and regulations of the
Board not inconsistent therewith.’’ In
addition, pursuant to regulations
promulgated by the Office of
Government Ethics (OGE) pursuant to 5
U.S.C. 7301, each executive agency’s
designated ethics officer is required to
provide ‘‘advice and counseling to
prospective . . . employees regarding
government ethics laws and
regulations’’ and to ‘‘maintain records of
agency ethics program activities’’ (5 CFR
2638.104(c)(2) and (4)).
Providing the information collected
on the FR 28c form is required in order
to obtain the benefit of Board
employment.
Generally, information provided on
the FR 28c form may be kept
confidential from the public under
exemption 6 of the Freedom of
Information Act (FOIA), which protects
information in ‘‘personnel and medical
files and similar files the disclosure of
which would constitute a clearly
unwarranted invasion of personal
privacy’’ (5 U.S.C. 552(b)(6)). In
addition, financial information collected
on the form (such as confidential details
about the amount of shares an applicant,
their spouse, or minor child owns in a
bank) may be withheld under
exemption 4 of the FOIA, which
protects ‘‘financial information obtained
from a person [that is] privileged and
confidential’’ (5 U.S.C. 552(b)(4)).
PO 00000
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Board of Governors of the Federal Reserve
System, January 13, 2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020–00614 Filed 1–15–20; 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
Registration of Mortgage Loan
Originators (CFPB G; OMB No. 7100–
0328).
DATES: Comments must be submitted on
or before March 16, 2020.
ADDRESSES: You may submit comments,
identified by CFPB G, 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: regs.comments@
federalreserve.gov. Include the OMB
number in the subject line of the
message.
• FAX: (202) 452–3819 or (202) 452–
3102.
• Mail: Ann E. Misback, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW, Washington,
DC 20551.
All public comments are available
from the Board’s website at https://
www.federalreserve.gov/apps/foia/
proposedregs.aspx as submitted, unless
modified for technical reasons or to
remove personally identifiable
information at the commenter’s request.
Accordingly, 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
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.
SUMMARY:
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Federal Register / Vol. 85, No. 11 / Thursday, January 16, 2020 / Notices
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
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.
SUPPLEMENTARY INFORMATION: On June
15, 1984, OMB delegated to the Board
authority under the PRA to approve and
assign OMB control numbers to
collections of information 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.
khammond on DSKJM1Z7X2PROD 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
VerDate Sep<11>2014
17:49 Jan 15, 2020
Jkt 250001
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: Registration of Mortgage
Loan Originators.
Agency form number: CFPB G.
OMB control number: 7100–0328.
Frequency: Annually.
Respondents: State member banks
(SMBs) with $10 billion or less in total
assets that are not affiliates of insured
depository institutions with total assets
of more than $10 billion; subsidiaries of
such SMBs that are not functionally
regulated within the meaning of section
5(c)(5) of the Bank Holding Company
Act; branches and agencies of foreign
banks (other than federal branches,
federal agencies, and insured state
branches of foreign banks); and
commercial lending companies owned
or controlled by foreign banks
(collectively, ‘‘banking organizations’’),
as well as employees of banking
organizations who act as residential
mortgage loan originators (MLOs).
Estimated number of respondents:
MLO’s (new)—initial set up, 396
respondents; MLO’s (new)—disclosure,
396 respondents; MLO’s (existing)—
updates for changes, 11,422
respondents; MLO’s (existing)—
maintenance and disclosures, 22,844
respondents; Banking organizations, 674
respondents.
Estimated average hours per response:
MLO’s (new)—initial set up, 2.5 hours;
MLO’s (new)—disclosure, 1 hour;
MLO’s (existing)—updates for changes,
0.25 hour; MLO’s (existing)—
maintenance and disclosures, 0.85 hour;
Depository Institutions and subsidiaries,
118 hours.
Estimated annual burden hours:
MLO’s (new)—initial set up, 990 hours;
MLO’s (new)—disclosure, 396 hours;
MLO’s (existing)—updates for changes,
2,856 hours; MLO’s (existing)—
maintenance and disclosures, 19,417
hours; Banking organizations, 79,532
hours.
General description of report: In
accordance with the Secure and Fair
Enforcement for Mortgage Licensing Act
(S.A.F.E. Act), the Consumer Financial
Protection Bureau’s (CFPB) Regulation
G requires MLOs to register with the
Nationwide Mortgage Licensing System
PO 00000
Frm 00051
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2743
and Registry (NMLS or Registry),1
maintain this registration, obtain a
unique identifier, and disclose to
consumers upon request and through
the Registry their unique identifier and
the MLO’s employment history and
publicly adjudicated disciplinary and
enforcement actions. The CFPB’s
regulation also requires the institutions
employing MLOs to adopt and follow
written policies and procedures to
ensure that their employees comply
with these requirements and to conduct
annual independent compliance tests.
Legal authorization and
confidentiality: The CFPB’s Regulation
G is authorized pursuant to the S.A.F.E.
Act and the Dodd-Frank Act, which
transferred to the CFPB the ‘‘consumer
financial protection functions,’’
including the S.A.F.E. Act, previously
vested in certain other Federal
agencies.2 The Board is authorized to
enforce consumer financial protection
functions, including the CFPB’s
Regulation G, with respect to SMBs with
$10 billion or less in total assets that are
not affiliates of insured depository
institutions with total assets of more
than $10 billion and the subsidiaries of
such SMBs that are not functionally
regulated within the meaning of section
5(c)(5) of the Bank Holding Company
Act (see 12 U.S.C. 1844(c)(5)) under
section 1061 of the Dodd Frank Act.3
The International Banking Act (IBA)
requires ‘‘every branch or agency of a
foreign bank and every commercial
lending company controlled by one or
more foreign banks . . . [to] conduct its
operations in the United States in full
compliance with provisions of any law
of the United States . . . which impose
requirements that protect the rights of
consumers in financial transactions, to
the extent that the branch, agency, or
commercial lending company engages
in activities that are subject to such
laws.’’ 4 The Board has authority to
examine branches and agencies of
foreign banks and commercial lending
companies owned or controlled by
foreign banks and to enforce the
provisions of the IBA pursuant to
sections 7 and 13 of the IBA.5 The CFPB
G is mandatory.
The unique identifier of MLOs must
be made public and is not considered
confidential. In addition, most of the
information that MLOs submit in order
to register with the NMLS will be
publicly available. However, certain
1 https://
mortgage.nationwidelicensingsystem.org/Pages/
default.aspx.
2 12 U.S.C. 5101 et seq.; 12 U.S.C. 5581.
3 12 U.S.C. 5581(c).
4 12 U.S.C. 3106a(1).
5 12 U.S.C. 3105(c) and 3108(b).
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2744
Federal Register / Vol. 85, No. 11 / Thursday, January 16, 2020 / Notices
identifying data about individuals who
act as MLOs may be treated as
confidential pursuant to exemption 6 of
the Freedom of Information Act (FOIA),
which protects from disclosure
information that ‘‘would constitute a
clearly unwarranted invasion of
personal privacy.’’ 6
With respect to the information
collection requirements imposed on
banking organizations, because banking
organizations are required to retain their
own records and make certain
disclosures to customers, the FOIA
would only be implicated if the Board’s
examiners obtained a copy of these
records as part of the examination or
supervision of a financial institution.
Records obtained in this manner may be
exempt from disclosure under FOIA
exemption 8, regarding examinationrelated materials.7
Board of Governors of the Federal Reserve
System, January 13, 2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020–00634 Filed 1–15–20; 8:45 am]
BILLING CODE 6210–01–P
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
Administration for Children and
Families
Submission for OMB Review; Tribal
Maternal, Infant, and Early Childhood
Home Visiting Program Form 2:
Grantee Performance Measures (OMB
#0970–0500)
Office of Child Care;
Administration for Children and
Families; HHS.
ACTION: Request for public comment.
AGENCY:
The Administration for
Children and Families (ACF) is
requesting a 3-year extension of the
ACF—Tribal Maternal, Infant, and Early
Childhood Home Visiting (Tribal
MIECHV) Program Form 2: Grantee
Performance Measures (OMB #0970–
0500; Expiration date 8/31/2020). There
are no changes requested to the form.
DATES: Comments due within 30 days of
publication. OMB is required to make a
SUMMARY:
decision concerning the collection of
information between 30 and 60 days
after publication of this document in the
Federal Register. Therefore, a comment
is best assured of having its full effect
if OMB receives it within 30 days of
publication.
Written comments and
recommendations for the proposed
information collection should be sent
directly to the following: Office of
Management and Budget, Paperwork
Reduction Project, Email: OIRA_
SUBMISSION@OMB.EOP.GOV, Attn:
Desk Officer for the Administration for
Children and Families.
Copies of the proposed collection may
be obtained by emailing infocollection@
acf.hhs.gov. Alternatively, copies can
also be obtained by writing to the
Administration for Children and
Families, Office of Planning, Research,
and Evaluation, 330 C Street SW,
Washington, DC 20201, Attn: ACF
Reports Clearance Officer. All requests,
emailed or written, should be identified
by the title of the information collection.
SUPPLEMENTARY INFORMATION:
Description: The Maternal, Infant, and
Early Childhood Home Visiting Program
(MIECHV) authorizes the Secretary of
HHS (in Section 511(h)(2)(A)) to award
grants to Indian tribes (or a consortium
of Indian tribes), tribal organizations, or
urban Indian organizations to conduct
an early childhood home visiting
program. The legislation set aside 3
percent of the total MIECHV program
appropriation for grants to tribal
entities. Tribal MIECHV grants, to the
greatest extent practicable, are to be
consistent with the requirements of the
MIECHV grants to states and
jurisdictions and include conducting a
needs assessment and establishing
quantifiable, measurable benchmarks.
The ACF, Office of Child Care, in
collaboration with the Health Resources
and Services Administration, Maternal
and Child Health Bureau, awards grants
for the Tribal MIECHV Program. The
Tribal MIECHV grant awards support 5year cooperative agreements to conduct
community needs assessments; plan for
and implement high-quality, culturally
relevant, evidence-based home visiting
programs in at-risk tribal communities;
ADDRESSES:
collect and report on performance
measures; and participate in research
and evaluation activities to build the
knowledge base on home visiting among
Native populations.
Specifically, the MIECHV legislation
requires that State and Tribal MIECHV
grantees collect performance data to
measure improvements for eligible
families in six specified areas (referred
to as ‘‘benchmark areas’’) that
encompass the major goals for the
program. These include:
1. Improved maternal and newborn
health;
2. Prevention of child injuries, child
abuse, neglect, or maltreatment, and
reduction in emergency department
visits;
3. Improvement in school readiness
and achievement;
4. Reduction in crime or domestic
violence;
5. Improvement in family economic
self-sufficiency; and
6. Improvement in the coordination
and referrals for other community
resources and supports.
Tribal MIECHV grantees are required
to propose a plan for meeting the
benchmark requirements specified in
the legislation and must report on
improvement on constructs under each
benchmark area. Tribal Home Visiting
(HV) Form 2 will provide a template for
Tribal MIECHV grantees to report data
on their progress in improving
performance under the six benchmark
areas, as stipulated in the legislation.
ACF will continue to use Tribal HV
Form 2 to:
• Track and improve the quality of
benchmark measures data submitted by
the Tribal grantees;
• Improve program monitoring and
oversight;
• Improve rigorous data analyses that
help to assess the effectiveness of the
programs and enable ACF to better
monitor projects; and
• Ensure adequate and timely
reporting of program data to relevant
federal agencies and stakeholders
including Congress and members of the
public.
Respondents: Tribal MIECHV Program
Grantees.
khammond on DSKJM1Z7X2PROD with NOTICES
ANNUAL BURDEN ESTIMATES
Instrument
Total
number of
respondents
Annual
number of
responses per
respondent
Average
burden
hours per
response
Annual
burden hours
Tribal MIECHV Form 2 ....................................................................................
23
1
500
11,500
65
U.S.C. 552(b)(6).
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17:49 Jan 15, 2020
75
Jkt 250001
PO 00000
U.S.C. 552(b)(8).
Frm 00052
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]]>Agencies
[Federal Register Volume 85, Number 11 (Thursday, January 16, 2020)]
[Notices]
[Pages 2742-2744]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-00634]
-----------------------------------------------------------------------
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 Registration of Mortgage Loan Originators (CFPB G; OMB
No. 7100-0328).
DATES: Comments must be submitted on or before March 16, 2020.
ADDRESSES: You may submit comments, identified by CFPB G, 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 the OMB
number in the subject line of the message.
FAX: (202) 452-3819 or (202) 452-3102.
Mail: Ann E. Misback, Secretary, Board of Governors of the
Federal Reserve System, 20th Street and Constitution Avenue NW,
Washington, DC 20551.
All public comments are available from the Board's website at
https://www.federalreserve.gov/apps/foia/proposedregs.aspx as
submitted, unless modified for technical reasons or to remove
personally identifiable information at the commenter's request.
Accordingly, 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 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.
[[Page 2743]]
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 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.
SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board
authority under the PRA to approve and assign OMB control numbers to
collections of information 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: Registration of Mortgage Loan Originators.
Agency form number: CFPB G.
OMB control number: 7100-0328.
Frequency: Annually.
Respondents: State member banks (SMBs) with $10 billion or less in
total assets that are not affiliates of insured depository institutions
with total assets of more than $10 billion; subsidiaries of such SMBs
that are not functionally regulated within the meaning of section
5(c)(5) of the Bank Holding Company Act; branches and agencies of
foreign banks (other than federal branches, federal agencies, and
insured state branches of foreign banks); and commercial lending
companies owned or controlled by foreign banks (collectively, ``banking
organizations''), as well as employees of banking organizations who act
as residential mortgage loan originators (MLOs).
Estimated number of respondents: MLO's (new)--initial set up, 396
respondents; MLO's (new)--disclosure, 396 respondents; MLO's
(existing)--updates for changes, 11,422 respondents; MLO's (existing)--
maintenance and disclosures, 22,844 respondents; Banking organizations,
674 respondents.
Estimated average hours per response: MLO's (new)--initial set up,
2.5 hours; MLO's (new)--disclosure, 1 hour; MLO's (existing)--updates
for changes, 0.25 hour; MLO's (existing)--maintenance and disclosures,
0.85 hour; Depository Institutions and subsidiaries, 118 hours.
Estimated annual burden hours: MLO's (new)--initial set up, 990
hours; MLO's (new)--disclosure, 396 hours; MLO's (existing)--updates
for changes, 2,856 hours; MLO's (existing)--maintenance and
disclosures, 19,417 hours; Banking organizations, 79,532 hours.
General description of report: In accordance with the Secure and
Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act), the
Consumer Financial Protection Bureau's (CFPB) Regulation G requires
MLOs to register with the Nationwide Mortgage Licensing System and
Registry (NMLS or Registry),\1\ maintain this registration, obtain a
unique identifier, and disclose to consumers upon request and through
the Registry their unique identifier and the MLO's employment history
and publicly adjudicated disciplinary and enforcement actions. The
CFPB's regulation also requires the institutions employing MLOs to
adopt and follow written policies and procedures to ensure that their
employees comply with these requirements and to conduct annual
independent compliance tests.
---------------------------------------------------------------------------
\1\ https://mortgage.nationwidelicensingsystem.org/Pages/default.aspx.
---------------------------------------------------------------------------
Legal authorization and confidentiality: The CFPB's Regulation G is
authorized pursuant to the S.A.F.E. Act and the Dodd-Frank Act, which
transferred to the CFPB the ``consumer financial protection
functions,'' including the S.A.F.E. Act, previously vested in certain
other Federal agencies.\2\ The Board is authorized to enforce consumer
financial protection functions, including the CFPB's Regulation G, with
respect to SMBs with $10 billion or less in total assets that are not
affiliates of insured depository institutions with total assets of more
than $10 billion and the subsidiaries of such SMBs that are not
functionally regulated within the meaning of section 5(c)(5) of the
Bank Holding Company Act (see 12 U.S.C. 1844(c)(5)) under section 1061
of the Dodd Frank Act.\3\ The International Banking Act (IBA) requires
``every branch or agency of a foreign bank and every commercial lending
company controlled by one or more foreign banks . . . [to] conduct its
operations in the United States in full compliance with provisions of
any law of the United States . . . which impose requirements that
protect the rights of consumers in financial transactions, to the
extent that the branch, agency, or commercial lending company engages
in activities that are subject to such laws.'' \4\ The Board has
authority to examine branches and agencies of foreign banks and
commercial lending companies owned or controlled by foreign banks and
to enforce the provisions of the IBA pursuant to sections 7 and 13 of
the IBA.\5\ The CFPB G is mandatory.
---------------------------------------------------------------------------
\2\ 12 U.S.C. 5101 et seq.; 12 U.S.C. 5581.
\3\ 12 U.S.C. 5581(c).
\4\ 12 U.S.C. 3106a(1).
\5\ 12 U.S.C. 3105(c) and 3108(b).
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The unique identifier of MLOs must be made public and is not
considered confidential. In addition, most of the information that MLOs
submit in order to register with the NMLS will be publicly available.
However, certain
[[Page 2744]]
identifying data about individuals who act as MLOs may be treated as
confidential pursuant to exemption 6 of the Freedom of Information Act
(FOIA), which protects from disclosure information that ``would
constitute a clearly unwarranted invasion of personal privacy.'' \6\
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\6\ 5 U.S.C. 552(b)(6).
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With respect to the information collection requirements imposed on
banking organizations, because banking organizations are required to
retain their own records and make certain disclosures to customers, the
FOIA would only be implicated if the Board's examiners obtained a copy
of these records as part of the examination or supervision of a
financial institution. Records obtained in this manner may be exempt
from disclosure under FOIA exemption 8, regarding examination-related
materials.\7\
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\7\ 5 U.S.C. 552(b)(8).
Board of Governors of the Federal Reserve System, January 13,
2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-00634 Filed 1-15-20; 8:45 am]
BILLING CODE 6210-01-P
