Proposed Agency Information Collection Activities; Comment Request, 54978-54979 [2021-21593]

Download as PDF 54978 Federal Register / Vol. 86, No. 190 / Tuesday, October 5, 2021 / Notices lotter on DSK11XQN23PROD with NOTICES1 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: Application Form for Membership on the Community Advisory Committee Council. Agency form number: FR 1401. OMB control number: 7100–0371. Frequency: Annually. Respondents: Any person seeking to be considered for membership on the Community Advisory Committee (CAC) Council. Estimated number of respondents: 300. Estimated average hours per response: 1. Estimated annual burden hours: 300. General description of report: The CAC Application (Application) is used to obtain information about the experience and qualification of persons seeking to be considered for membership on the CAC of the Board. The Application collects an applicant’s contact information; details regarding current employment and areas of expertise; a resume, which typically includes information about employment history, education, and training; and a cover letter explaining why the applicant is interested in serving on the CAC and what he or she believes are their primary qualifications. Applicants can voluntarily elect to provide additional information to support their application. Legal authorization and confidentiality: The Application is VerDate Sep<11>2014 18:56 Oct 04, 2021 Jkt 256001 authorized pursuant to sections 2A and 10 of the Federal Reserve Act (FRA).1 Section 2A of the FRA requires the Board and Federal Open Market Committee to maintain long run growth of the monetary and credit aggregates commensurate with the economy’s long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.2 Section 10 of the FRA authorizes the Board to ‘‘determine and prescribe the manner in which its obligations shall be incurred and its disbursements and expenses allowed and paid.’’ 3 Providing information collected as part of the Application is required to obtain a benefit. Generally, information provided on the Application may be kept confidential from the public under exemption 6 of the Freedom of Information Act (FOIA) to the extent that the disclosure of the information ‘‘would constitute a clearly unwarranted invasion of personal privacy.’’ For example, the release of information such as the applicant’s address, home telephone number, or personal email address to the public would likely constitute a clearly unwarranted invasion of personal privacy and be kept confidential. However, the release of information such as the educational and professional qualifications of successful applicants would not likely constitute a clearly unwarranted invasion of personal privacy and may be disclosed under the FOIA. In addition, once a person becomes a member of the CAC, their name, and the name and location of the organization where they are employed, would generally be listed on the Board’s public website. Board of Governors of the Federal Reserve System, September 29, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–21594 Filed 10–4–21; 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: 1 12 U.S.C. 225a and 244. U.S.C. 225a. 3 12 U.S.C. 244. This authority permits the Board to collect personal information (e.g., bank account routing numbers) needed to disburse travel funds to CAC members. 2 12 PO 00000 Frm 00063 Fmt 4703 Sfmt 4703 The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, with revision, the Disclosure Requirements of Subpart H of Regulation H (Consumer Protection in Sales of Insurance) (FR H–7; OMB No. 7100–0298). DATES: Comments must be submitted on or before December 6, 2021. ADDRESSES: You may submit comments, identified by FR H–7, 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. 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: 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. SUMMARY: E:\FR\FM\05OCN1.SGM 05OCN1 Federal Register / Vol. 86, No. 190 / Tuesday, October 5, 2021 / Notices 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. A copy of the Paperwork Reduction Act (PRA) OMB submission, including the reporting form and instructions, supporting statement, and other documentation will be available at https://www.reginfo.gov/public/do/ PRAMain, 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 above. SUPPLEMENTARY INFORMATION: lotter on DSK11XQN23PROD with NOTICES1 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. VerDate Sep<11>2014 18:56 Oct 04, 2021 Jkt 256001 Proposal Under OMB Delegated Authority To Extend for Three Years, With Revision, the Following Information Collection Report title: Disclosure Requirements of Subpart H of Regulation H (Consumer Protection in Sales of Insurance). Agency form number: FR H–7. OMB control number: 7100–0298. Frequency: On occasion. Respondents: State member banks or any other person at an office of a bank or on behalf of a bank (collectively, Covered Persons). Estimated number of respondents: Insurance and extension of credit, 341; advertisements, 341. Estimated average hours per response: Insurance and extension of credit, 1.5 minutes; advertisements, 25 minutes. Estimated annual burden hours: Insurance and extension of credit, 5,371; advertisements, 142. General description of report: The insurance consumer protection rules in Regulation H require depository institutions to prepare and provide certain disclosures to consumers. The disclosure requirements are codified at 12 CFR 208.81 et seq. and require Covered Persons to make certain disclosures: Before the completion of the initial purchase of an insurance product or annuity by a consumer; at the time a consumer applies for an extension of credit in connection with which an insurance product or annuity is solicited, offered, or sold; and in advertisements and promotional materials for insurance products or annuities. Proposed revisions: The Board proposes to revise the FR H–7 information collection to account for the advertisements and promotional materials disclosure requirement in Regulation H, Subpart H, that has not been previously cleared by the Board under the PRA. The Board is not proposing to create any forms associated with the FR H–7 to address this requirement. Legal authorization and confidentiality: The Disclosure Requirements of Subpart H of Regulation H are authorized by section 305 of the Gramm-Leach-Bliley Act of 1999 (GLBA), which requires that the Board issue regulations, including disclosure requirements, applicable to retail sales practices, solicitations, advertising, or offers of insurance by depository institutions.1 The disclosures 1 12 U.S.C. 1831x. The Board also has the authority to require reports from state member banks. 12 U.S.C. 248(a) and 324. PO 00000 Frm 00064 Fmt 4703 Sfmt 4703 54979 required under Subpart H of Regulation H are mandatory. Because the FR H–7 disclosures are provided by state member banks to customers, confidentiality issues should generally not arise. In the event the records are obtained by the Board as part of the examination or supervision of a financial institution, this information may be considered confidential pursuant to exemption 8 of the Freedom of Information Act, which protects information contained in ‘‘examination, operating, or condition reports’’ obtained in the bank supervisory process.2 Consultation outside the agency: The Board consulted with the other federal banking agencies with similar regulations pursuant to section 305 of the GLBA. Board of Governors of the Federal Reserve System, September 29, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–21593 Filed 10–4–21; 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 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, 25 U.S.C. 552(b)(8). E:\FR\FM\05OCN1.SGM 05OCN1

Agencies

[Federal Register Volume 86, Number 190 (Tuesday, October 5, 2021)]
[Notices]
[Pages 54978-54979]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-21593]


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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, with revision, 
the Disclosure Requirements of Subpart H of Regulation H (Consumer 
Protection in Sales of Insurance) (FR H-7; OMB No. 7100-0298).

DATES: Comments must be submitted on or before December 6, 2021.

ADDRESSES: You may submit comments, identified by FR H-7, 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.
    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: 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.

[[Page 54979]]


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.
    A copy of the Paperwork Reduction Act (PRA) OMB submission, 
including the reporting form and instructions, supporting statement, 
and other documentation will be available at https://www.reginfo.gov/public/do/PRAMain, 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 above.

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, With 
Revision, the Following Information Collection

    Report title: Disclosure Requirements of Subpart H of Regulation H 
(Consumer Protection in Sales of Insurance).
    Agency form number: FR H-7.
    OMB control number: 7100-0298.
    Frequency: On occasion.
    Respondents: State member banks or any other person at an office of 
a bank or on behalf of a bank (collectively, Covered Persons).
    Estimated number of respondents: Insurance and extension of credit, 
341; advertisements, 341.
    Estimated average hours per response: Insurance and extension of 
credit, 1.5 minutes; advertisements, 25 minutes.
    Estimated annual burden hours: Insurance and extension of credit, 
5,371; advertisements, 142.
    General description of report: The insurance consumer protection 
rules in Regulation H require depository institutions to prepare and 
provide certain disclosures to consumers. The disclosure requirements 
are codified at 12 CFR 208.81 et seq. and require Covered Persons to 
make certain disclosures: Before the completion of the initial purchase 
of an insurance product or annuity by a consumer; at the time a 
consumer applies for an extension of credit in connection with which an 
insurance product or annuity is solicited, offered, or sold; and in 
advertisements and promotional materials for insurance products or 
annuities.
    Proposed revisions: The Board proposes to revise the FR H-7 
information collection to account for the advertisements and 
promotional materials disclosure requirement in Regulation H, Subpart 
H, that has not been previously cleared by the Board under the PRA. The 
Board is not proposing to create any forms associated with the FR H-7 
to address this requirement.
    Legal authorization and confidentiality: The Disclosure 
Requirements of Subpart H of Regulation H are authorized by section 305 
of the Gramm-Leach-Bliley Act of 1999 (GLBA), which requires that the 
Board issue regulations, including disclosure requirements, applicable 
to retail sales practices, solicitations, advertising, or offers of 
insurance by depository institutions.\1\ The disclosures required under 
Subpart H of Regulation H are mandatory.
---------------------------------------------------------------------------

    \1\ 12 U.S.C. 1831x. The Board also has the authority to require 
reports from state member banks. 12 U.S.C. 248(a) and 324.
---------------------------------------------------------------------------

    Because the FR H-7 disclosures are provided by state member banks 
to customers, confidentiality issues should generally not arise. In the 
event the records are obtained by the Board as part of the examination 
or supervision of a financial institution, this information may be 
considered confidential pursuant to exemption 8 of the Freedom of 
Information Act, which protects information contained in ``examination, 
operating, or condition reports'' obtained in the bank supervisory 
process.\2\
---------------------------------------------------------------------------

    \2\ 5 U.S.C. 552(b)(8).
---------------------------------------------------------------------------

    Consultation outside the agency: The Board consulted with the other 
federal banking agencies with similar regulations pursuant to section 
305 of the GLBA.

    Board of Governors of the Federal Reserve System, September 29, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-21593 Filed 10-4-21; 8:45 am]
BILLING CODE 6210-01-P
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