Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 27744-27745 [2020-09937]
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Federal Register / Vol. 85, No. 91 / Monday, May 11, 2020 / Notices
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
the Board of Governors, Ann E.
Misback, Secretary of the Board, 20th
Street and Constitution Avenue NW,
Washington DC 20551–0001, not later
than June 10, 2020.
A. Federal Reserve Bank of San
Francisco (Sebastian Astrada, Director,
Applications) 101 Market Street, San
Francisco, California 94105–1579:
1. Varo Money, Inc., San Francisco,
California; to become a bank holding
company by acquiring Varo Bank,
National Association, Draper, Utah.
Board of Governors of the Federal Reserve
System, May 6, 2020.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2020–10020 Filed 5–8–20; 8:45 am]
BILLING CODE P
FEDERAL RESERVE SYSTEM
Agency Information Collection
Activities: Announcement of Board
Approval Under Delegated Authority
and Submission to OMB
Board of Governors of the
Federal Reserve System.
SUMMARY: The Board of Governors of the
Federal Reserve System (Board) is
adopting a proposal to extend for three
years, without revision, the Registration
of Mortgage Loan Originators (CFPB G;
OMB No. 7100–0328).
FOR FURTHER INFORMATION CONTACT:
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.
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,
khammond on DSKJM1Z7X2PROD with NOTICES
AGENCY:
VerDate Sep<11>2014
17:05 May 08, 2020
Jkt 250001
Room 10235, 725 17th Street NW,
Washington, DC 20503, or by fax to
(202) 395–6974.
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. These
documents also are available on the
Federal Reserve 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 above.
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. Boardapproved collections of information are
incorporated into the official OMB
inventory of currently approved
collections of information. Copies of the
PRA Submission, supporting
statements, and approved collection of
information instrument(s) are placed
into OMB’s public docket files.
Final Approval Under OMB Delegated
Authority of the Extension for Three
Years, Without Revision, of 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;
PO 00000
Frm 00037
Fmt 4703
Sfmt 4703
MLO’s (existing)—updates for changes,
0.25 hour; MLO’s (existing)—
maintenance and disclosures, 0.85 hour;
Banking organizations, 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.
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
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).
E:\FR\FM\11MYN1.SGM
11MYN1
27745
Federal Register / Vol. 85, No. 91 / Monday, May 11, 2020 / Notices
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
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
Current actions: On January 16, 2020,
the Board published an initial notice in
the Federal Register (85 FR 2742)
requesting public comment for 60 days
on the extension, without revision, of
the CFPB G. The comment period for
this notice expired on March 16, 2020.
The Board did not receive any
comments.
Board of Governors of the Federal Reserve
System, May 5, 2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020–09937 Filed 5–8–20; 8:45 am]
BILLING CODE 6210–01–P
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
Administration for Children and
Families
Proposed Information Collection
Activity; Information Comparison With
Insurance Data (OMB #0970–0342)
Office of Child Support
Enforcement, Administration for
Children and Families, HHS.
ACTION: Request for public comment.
AGENCY:
The Administration for
Children and Families’ (ACF) Office of
Child Support Enforcement (OCSE) is
requesting a 3-year extension of the
currently approved Information
Comparison with Insurance Data (OMB
#0970–0342; Expires 1/31/2021).
DATES: Comments due within 60 days of
publication. In compliance with the
requirements of Section 3506(c)(2)(A) of
the Paperwork Reduction Act of 1995,
ACF is soliciting public comment on the
specific aspects of the information
collection described above.
ADDRESSES: Copies of the proposed
collection of information can be
obtained and comments may be
forwarded 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
SUMMARY:
and Evaluation (OPRE), 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 Deficit Reduction
Act of 2005 amended Section 452 of the
Social Security Act to authorize the
Secretary, through the Federal Parent
Locator Service (FPLS), to conduct
comparisons of information concerning
individuals owing past-due child
support with information maintained by
insurers (or their agents) concerning
insurance claims, settlements, awards,
and payments. The two options to
participate in the Information
Comparison with Insurance Data
program are (1) insurers submit
information concerning claims,
settlements, awards, and payments to
the federal OCSE. OCSE compares it to
information pertaining to parents who
owe past-due support. (2) OCSE will
send a file containing information about
parents who owe past-due support to
the insurer, or their agent, to compare
with their claims, settlements, awards,
and payments. The insurer or their
agent sends any resulting insurance data
matches to OCSE. On a daily basis,
OCSE sends the results of the insurance
data match in an ‘‘Insurance Match
Response Record’’ to child support
agencies responsible for collecting pastdue support. The child support agencies
use the insurance data matches to
collect past-due support from the
insurance proceeds.
Respondents: Insurers or their agents,
including the U.S. Department of Labor
and state agencies administering
workers’ compensation programs, and
the Insurance Services Office.
ANNUAL BURDEN ESTIMATES
Instrument
Total number
of respondents
annually
Total number
of annual
responses per
respondent
Average
annual burden
hours per
response
26
9
2
108
12
52
251
251
0.083
0.083
0.083
0.1
khammond on DSKJM1Z7X2PROD with NOTICES
Insurance Match File: Monthly Reporting Electronically .................................
Insurance Match File: Weekly Reporting Electronically ..................................
Insurance Match File: Daily Reporting Electronically ......................................
Match File: Daily Reporting Manually ..............................................................
Estimated Total Annual Burden
Hours: 2,817.21.
Comments: The Department
specifically requests comments on (a)
whether the proposed collection of
information is necessary for the proper
4 12
5 12
U.S.C. 3106a(1).
U.S.C. 3105(c) and 3108(b).
VerDate Sep<11>2014
17:05 May 08, 2020
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the proposed collection
of information; (c) the quality, utility,
65
75
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PO 00000
Fmt 4703
Sfmt 4703
25.90
38.84
41.67
2,710.80
and clarity of the information to be
collected; and (d) ways to minimize the
burden of the collection of information
on respondents, including through the
use of automated collection techniques
or other forms of information
U.S.C. 552(b)(6).
U.S.C. 552(b)(8).
Frm 00038
Total annual
burden hours
E:\FR\FM\11MYN1.SGM
11MYN1
]]>Agencies
[Federal Register Volume 85, Number 91 (Monday, May 11, 2020)]
[Notices]
[Pages 27744-27745]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-09937]
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board
Approval Under Delegated Authority and Submission to OMB
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
is adopting a proposal to extend for three years, without revision, the
Registration of Mortgage Loan Originators (CFPB G; OMB No. 7100-0328).
FOR FURTHER INFORMATION CONTACT: 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.
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.
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.
These documents also are available on the Federal Reserve 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 above.
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. Board-
approved collections of information are incorporated into the official
OMB inventory of currently approved collections of information. Copies
of the PRA Submission, supporting statements, and approved collection
of information instrument(s) are placed into OMB's public docket files.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, Without Revision, of 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; Banking organizations, 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
[[Page 27745]]
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).
---------------------------------------------------------------------------
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 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\
---------------------------------------------------------------------------
\6\ 5 U.S.C. 552(b)(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 examination-related
materials.\7\
---------------------------------------------------------------------------
\7\ 5 U.S.C. 552(b)(8).
---------------------------------------------------------------------------
Current actions: On January 16, 2020, the Board published an
initial notice in the Federal Register (85 FR 2742) requesting public
comment for 60 days on the extension, without revision, of the CFPB G.
The comment period for this notice expired on March 16, 2020. The Board
did not receive any comments.
Board of Governors of the Federal Reserve System, May 5, 2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-09937 Filed 5-8-20; 8:45 am]
BILLING CODE 6210-01-P
