Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company, 38092-38093 [2021-15307]

Download as PDF 38092 Federal Register / Vol. 86, No. 135 / Monday, July 19, 2021 / Notices lotter on DSK11XQN23PROD with NOTICES1 a. Whether the proposed collection of information is necessary for the proper performance of the Board’s functions, including whether the information has practical utility; b. The accuracy of the Board’s estimate of the burden of the proposed information collection, including the validity of the methodology and assumptions used; c. Ways to enhance the quality, utility, and clarity of the information to be collected; d. Ways to minimize the burden of information collection on respondents, including through the use of automated collection techniques or other forms of information technology; and e. Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the Board should modify the proposal. Proposal Under OMB Delegated Authority To Extend for Three Years, Without Revision, the Following Information Collection Report title: Recordkeeping and Disclosure Requirements Associated with the Consumer Financial Protection Bureau’s (CFPB’s) Regulation B. Agency form number: FR B. OMB control number: 7100–0201. Frequency: On occasion; annually. Respondents: The Board accounts for the paperwork burden imposed under the Equal Credit Opportunity Act (ECOA), as implemented by the CFPB’s Regulation B, for the following institutions (except those entities supervised by the CFPB): State member banks; subsidiaries of state member banks; subsidiaries of bank holding companies; U.S. branches and agencies of foreign banks (other than federal branches, federal agencies, and insured state branches of foreign banks); commercial lending companies owned or controlled by foreign banks; and organizations operating under section 25 or 25A of the Federal Reserve Act (12 U.S.C. 601–604a; 611–631). Estimated number of respondents: Record retention for applications, actions, prescreened solicitations, selftesting, and self-correction, Information for monitoring purposes (recordkeeping), Notifications, Furnishing of credit information, Information for monitoring purposes (disclosure), and Rules on providing appraisals and other valuations, 851; Self-testing: Incentives for self-testing, 187; Incentives for self-correction, 47; VerDate Sep<11>2014 18:23 Jul 16, 2021 Jkt 253001 and Rules concerning requests for information, disclosure for optional selftest, 187. Estimated average hours per response: Record retention for applications, actions, prescreened solicitations, selftesting, and self-correction, 0.004; Information for monitoring purposes (recordkeeping), 0.017; Notifications, Furnishing of credit information, and Information for monitoring purposes (disclosure), 0.004; Rules on providing appraisals and other valuations, 0.008; Self-testing: Incentives for self-testing, 0.004; Incentives for self-correction, 0.016; and Rules concerning requests for information, disclosure for optional selftest, 0.004. Estimated annual burden hours: Record retention for applications, actions, prescreened solicitations, selftesting, and self-correction, 27,344; Information for monitoring purposes (recordkeeping); Notifications, 27,344; Furnishing of credit information, 4,844; Information for monitoring purposes (disclosure), 5,998; Rules on providing appraisals and other valuations; Selftesting: Incentives for self-testing, Incentives for self-correction, and Rules concerning requests for information, disclosure for optional self-test, 1. General description of report: The ECOA prohibits discrimination in any aspect of a credit transaction because of race, color, religion, national origin, sex, marital status, age, receipt of public assistance, or the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act. To aid in implementation of this prohibition, the statute and Regulation B subject creditors to various mandatory disclosure requirements, notification provisions informing applicants of action taken on the credit application, provision of appraisal reports in connection with mortgages, credit history reporting, monitoring rules, and recordkeeping requirements. These requirements are triggered by specific events, and disclosures must be provided within the time periods established by the statute and regulation. Legal authorization and confidentiality: The ECOA authorizes the CFPB to issue regulations to carry out the statute’s purposes.1 The ECOA also directs the CFPB to promulgate regulations requiring covered entities to maintain records evidencing compliance with the statute for at least one year.2 These regulations impose disclosure and recordkeeping requirements on Board-supervised PO 00000 entities. Compliance with the recordkeeping and disclosure requirements of the CFPB’s Regulation B is mandatory. The disclosures, records, policies, and procedures required by Regulation B are not required to be submitted to the Board. This information would generally only be obtained if Federal Reserve examiners retained a copy as part of an examination or supervision of a bank, in which case the information may be treated as confidential under exemption 8 of the Freedom of Information Act (FOIA).3 In addition, exemptions 4 and 6 of the FOIA may also apply to certain information obtained by the Board. Exemption 4 may apply if the information is confidential commercial or financial information that is both customarily and actually treated as private by the respondent.4 Exemption 6 may apply to information, the disclosure of which would ‘‘constitute a clearly unwarranted invasion of personal privacy.’’ 5 Consultation outside the agency: The Board consulted with the CFPB regarding the estimated burden of this information collection. Board of Governors of the Federal Reserve System, July 13, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–15285 Filed 7–16–21; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company The notificants listed below have applied under the Change in Bank Control Act (Act) (12 U.S.C. 1817(j)) and § 225.41 of the Board’s Regulation Y (12 CFR 225.41) to acquire shares of a bank or bank holding company. The factors that are considered in acting on the applications are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)). The public portions of 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(s) indicated below and at the offices of the Board of Governors. This information may also be obtained on an expedited basis, upon request, by contacting the appropriate Federal Reserve Bank and from the Board’s Freedom of Information Office at 35 U.S.C. 552(b)(8). U.S.C. 552(b)(4). 5 5 U.S.C. 552(b)(6). 1 15 U.S.C. 1691b(a). 2 12 U.S.C. 1691b(d). Frm 00106 Fmt 4703 45 Sfmt 4703 E:\FR\FM\19JYN1.SGM 19JYN1 Federal Register / Vol. 86, No. 135 / Monday, July 19, 2021 / Notices https://www.federalreserve.gov/foia/ request.htm. Interested persons may express their views in writing on the standards enumerated in paragraph 7 of the Act. 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 August 3, 2021. A. Federal Reserve Bank of Atlanta (Erien O. Terry, Assistant Vice President) 1000 Peachtree Street NE, Atlanta, Georgia 30309. Comments can also be sent electronically to Applications.Comments@atl.frb.org: 1. Jeremy Francis Gilpin, South Lake Tahoe, California, and Jeffrey Alan Smith, Atlanta, Georgia; as a group acting in concert, to acquire voting shares of Community Bankshares, Inc., LaGrange, Georgia, and thereby indirectly acquire voting shares of Community Bank and Trust—West Georgia, LaGrange, Georgia, and Community Bank and Trust—Alabama, Union Springs, Alabama. B. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690–1414: 1. Brian Herbstritt Revocable Trust, Chicago, Illinois, Brian Herbstritt, as trustee, River Forest, Illinois; the Deborah Herbstritt Revocable Trust, Chicago, Illinois, Deborah Maloney, as trustee, River Forest, Illinois; and the Amy Reardon Revocable Trust, Chicago, Illinois, Amy Reardon, as trustee, River Forest, Illinois; to join the Herbstritt Family Control Group, a group acting in concert, to retain voting shares of Schaumburg Bancshares, and thereby indirectly retain voting shares of Heritage Bank of Schaumburg, both of Schaumburg, Illinois. Board of Governors of the Federal Reserve System, July 14, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–15307 Filed 7–16–21; 8:45 am] BILLING CODE P lotter on DSK11XQN23PROD with NOTICES1 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 AGENCY: VerDate Sep<11>2014 18:23 Jul 16, 2021 Jkt 253001 years, without revision, the Recordkeeping Requirements Associated with Regulation GG (FR GG; OMB No. 7100–0317). 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. 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. The OMB inventory, as well as copies of the PRA Submission, supporting statements, and approved collection of information instrument(s) are available at https:// www.reginfo.gov/public/do/PRAMain. These documents are also 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. Final Approval Under OMB Delegated Authority of the Extension for Three Years, Without Revision, of the Following Information Collection Report title: Recordkeeping Requirements Associated with Regulation GG. Agency form number: FR GG. OMB control number: 7100–0317. Frequency: Annually. Respondents: Depository institutions, credit unions, card system operators, and money transmitting business operators. Estimated number of respondents: Depository institutions: 2,331; credit unions: 2,575; card system operators: 7; money transmitting business operators: 62; and new or de novo institutions: 3. Estimated average hours per response: Ongoing annual burden of 8 hours per recordkeeper for depository institutions, credit unions, card system operators, and money transmitting business operators. One time burden of 100 hours for new or de novo institutions. PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 38093 Estimated annual burden hours: Ongoing burden: 39,800; one-time burden: 300. General description of report: Section 5 of Regulation GG, Prohibition on Funding of Unlawful internet Gambling, requires all non-exempt participants in designated payment systems to establish and implement policies and procedures reasonably designed to identify and block, or otherwise prevent or prohibit, transactions restricted by the Unlawful internet Gambling Enforcement Act of 2006.1 In addition, section 5 states that a participant in a designated payment system may rely on policies and procedures established by the designated payment system if the system’s policies and procedures otherwise comply with the requirements of the regulation.2 Section 6 of Regulation GG sets out non-exclusive examples of policies and procedures for each designated payment system that the Board and the Department of the Treasury believe are reasonably designed to prevent or prohibit restricted transactions for nonexempt participants in the system.3 The internal agency tracking number previously assigned by the Board to this information collection was ‘‘FR 4026.’’ The Board has changed the internal agency tracking number to ‘‘FR GG’’ for the purpose of consistency. Legal authorization and confidentiality: FR GG is authorized by section 802 of the Unlawful internet Gambling Enforcement Act, which permits the Board to prescribe regulations requiring designated payment systems and participants therein to establish policies and procedures to identify and block or otherwise prevent and prohibit restricted transactions (31 U.S.C. 5364(a)). The obligation to respond is mandatory. The policies and procedures required by Regulation GG are not required to be submitted to the Board. To the extent such policies and procedures are obtained by the Board through the examination process, they may be kept confidential under exemption 8 of the Freedom of Information Act, which protects information contained in or related to an examination of a financial institution.4 Current actions: On March 8, 2021, the Board published a notice in the Federal Register (86 FR 13380) requesting public comment for 60 days on the extension, without revision, of 1 12 CFR 233.5(a). CFR 233.5(b). 3 See 12 CFR 233.6. 4 5 U.S.C. 552(b)(8). 2 12 E:\FR\FM\19JYN1.SGM 19JYN1

Agencies

[Federal Register Volume 86, Number 135 (Monday, July 19, 2021)]
[Notices]
[Pages 38092-38093]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-15307]


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FEDERAL RESERVE SYSTEM


Change in Bank Control Notices; Acquisitions of Shares of a Bank 
or Bank Holding Company

    The notificants listed below have applied under the Change in Bank 
Control Act (Act) (12 U.S.C. 1817(j)) and Sec.  225.41 of the Board's 
Regulation Y (12 CFR 225.41) to acquire shares of a bank or bank 
holding company. The factors that are considered in acting on the 
applications are set forth in paragraph 7 of the Act (12 U.S.C. 
1817(j)(7)).
    The public portions of 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(s) indicated below and 
at the offices of the Board of Governors. This information may also be 
obtained on an expedited basis, upon request, by contacting the 
appropriate Federal Reserve Bank and from the Board's Freedom of 
Information Office at

[[Page 38093]]

https://www.federalreserve.gov/foia/request.htm. Interested persons may 
express their views in writing on the standards enumerated in paragraph 
7 of the Act.
    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 August 3, 2021.
    A. Federal Reserve Bank of Atlanta (Erien O. Terry, Assistant Vice 
President) 1000 Peachtree Street NE, Atlanta, Georgia 30309. Comments 
can also be sent electronically to [email protected]:
    1. Jeremy Francis Gilpin, South Lake Tahoe, California, and Jeffrey 
Alan Smith, Atlanta, Georgia; as a group acting in concert, to acquire 
voting shares of Community Bankshares, Inc., LaGrange, Georgia, and 
thereby indirectly acquire voting shares of Community Bank and Trust--
West Georgia, LaGrange, Georgia, and Community Bank and Trust--Alabama, 
Union Springs, Alabama.
    B. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant 
Vice President) 230 South LaSalle Street, Chicago, Illinois 60690-1414:
    1. Brian Herbstritt Revocable Trust, Chicago, Illinois, Brian 
Herbstritt, as trustee, River Forest, Illinois; the Deborah Herbstritt 
Revocable Trust, Chicago, Illinois, Deborah Maloney, as trustee, River 
Forest, Illinois; and the Amy Reardon Revocable Trust, Chicago, 
Illinois, Amy Reardon, as trustee, River Forest, Illinois; to join the 
Herbstritt Family Control Group, a group acting in concert, to retain 
voting shares of Schaumburg Bancshares, and thereby indirectly retain 
voting shares of Heritage Bank of Schaumburg, both of Schaumburg, 
Illinois.

    Board of Governors of the Federal Reserve System, July 14, 2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-15307 Filed 7-16-21; 8:45 am]
BILLING CODE P
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