Fair Housing Rule, Consumer Protection in Sales of Insurance Rule; Technical Correction, 48079-48080 [2022-16961]

Download as PDF 48079 Rules and Regulations Federal Register Vol. 87, No. 151 Monday, August 8, 2022 This section of the FEDERAL REGISTER contains regulatory documents having general applicability and legal effect, most of which are keyed to and codified in the Code of Federal Regulations, which is published under 50 titles pursuant to 44 U.S.C. 1510. The Code of Federal Regulations is sold by the Superintendent of Documents. FEDERAL DEPOSIT INSURANCE CORPORTATION 12 CFR Parts 338 and 343 RIN 3064–AF84 Fair Housing Rule, Consumer Protection in Sales of Insurance Rule; Technical Correction Federal Deposit Insurance Corporation. AGENCY: ACTION: Technical correction. The Federal Deposit Insurance Corporation (FDIC) is making technical corrections to two regulations to reflect a reorganization and change in the name of its former Consumer Response Center. The new name is the National Center for Consumer and Depositor Assistance (NCDA). The two regulations are the FDIC’s Fair Housing Rule and its Consumer Protection in Sales of Insurance Rule. SUMMARY: DATES: Effective August 8, 2022. ■ Historically, the FDIC operated two separate offices to handle its consumer assistance and depositor assistance functions, the Consumer Response Center and the Deposit Insurance Section respectively. To improve the efficiency and effectiveness of these offices and better serve consumers and depositors, the FDIC consolidated the two offices under one organization, entitled the National Center for Consumer and Depositor Assistance. To ensure that consumers have the most up to date information on how to contact the FDIC to submit consumer complaints and deposit insurance inquiries, the FDIC is making technical corrections to 12 CFR part 338 and 12 CFR part 343 to replace references to the ‘‘Consumer Response Center’’ with the ‘‘National Center for Consumer and Depositor Assistance,’’ and to correct web addresses. This technical correction may benefit some consumers by making it easier for them to contact the FDIC regarding complaints or questions about deposit insurance. The correction does not change any FDIC requirements affecting its supervised institutions. § 338.4 List of Subjects 12 CFR Part 338 V. Brown, Attorney, Legal Division, 202–898–3565, alybrown@fdic.gov; Thaddeus J. King, Policy Analyst, Division of Depositor and Consumer Protection, 202–898–3541, thking@ fdic.gov. Aged, Banks, banking, Civil rights, Credit, Fair housing, Individuals with disabilities, Marital status discrimination, Mortgages, Religious discrimination, Reporting and recordkeeping requirements, Savings associations, Sex discrimination, Signs and symbols. SUPPLEMENTARY INFORMATION: 12 CFR Part 343 Background Banks, banking, Consumer protection, Insurance, Savings associations. FOR FURTHER INFORMATION CONTACT: khammond on DSKJM1Z7X2PROD with RULES Need for, and Effects of, the Technical Correction Alys The final regulations that are subject to this technical correction are the Fair Housing Rule and the Consumer Protection in Sales of Insurance Rule. The Fair Housing Rule prohibits FDICsupervised institutions from engaging in discriminatory advertising involving residential real estate-related transactions. The Consumer Protection in Sales of Insurance Rule prohibits certain actions in connection with retail sales practices, solicitations, advertising, or offers of insurance products. VerDate Sep<11>2014 16:06 Aug 05, 2022 Jkt 256001 Authority and Issuance For the reasons stated in the preamble, the FDIC amends 12 CFR parts 338 and 343 as follows: PART 338—FAIR HOUSING 1. The authority citation for part 338 continues to read as follows: ■ Authority: 12 U.S.C. 1817, 1818, 1819, 1820(b), 2801 et seq.; 15 U.S.C. 1691 et seq.; 42 U.S.C. 3605, 3608; 12 CFR parts 1002, 1003; 24 CFR part 110. PO 00000 Frm 00001 Fmt 4700 Sfmt 4700 2. Amend § 338.4 by revising paragraph (b) to read as follows: Fair Housing Poster. * * * * * (b) The Equal Housing Lender Poster shall be at least 11 by 14 inches in size and have the following text: We Do Business in Accordance with Federal Fair Lending Laws. UNDER THE FEDERAL FAIR HOUSING ACT, IT IS ILLEGAL, ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, SEX, HANDICAP, OR FAMILIAL STATUS (HAVING CHILDREN UNDER THE AGE OF 18) TO: • Deny a loan for the purpose of purchasing, constructing, improving, repairing or maintaining a dwelling or to deny any loan secured by a dwelling; or • Discriminate in fixing the amount, interest rate, duration, application procedures, or other terms or conditions of such a loan or in appraising property. IF YOU BELIEVE YOU HAVE BEEN DISCRIMINATED AGAINST, YOU SHOULD SEND A COMPLAINT TO: Assistant Secretary for Fair Housing and Equal Opportunity, Department of Housing and Urban Development, Washington, DC 20410. For processing under the Federal Fair Housing Act AND TO: Federal Deposit Insurance Corporation, National Center for Consumer and Deposit Assistance, https://ask.fdic.gov/fdicinformation andsupportcenter. For processing under the FDIC Regulations. UNDER THE EQUAL CREDIT OPPORTUNITY ACT, IT IS ILLEGAL TO DISCRIMINATE IN ANY CREDIT TRANSACTION: • On the basis of race, color, national origin, religion, sex, marital status, or age; • Because income is from public assistance; or • Because a right has been exercised under the Consumer Credit Protection Act. IF YOU BELIEVE YOU HAVE BEEN DISCRIMINATED AGAINST, YOU SHOULD SEND A COMPLAINT TO: Federal Deposit Insurance Corporation, National Center for Consumer and Deposit Assistance, E:\FR\FM\08AUR1.SGM 08AUR1 48080 Federal Register / Vol. 87, No. 151 / Monday, August 8, 2022 / Rules and Regulations https://ask.fdic.gov/fdicinformation andsupportcenter. * * * * * PART 343—CONSUMER PROTECTION IN SALES OF INSURANCE 3. The authority citation for part 343 continues to read as follows: ■ Authority: 12 U.S.C. 1819 (Seventh and Tenth), 1831x. 4. Revise appendix A to part 343 to read as follows: ■ Appendix A to Part 343—Consumer Grievance Process Any consumer who believes that any institution or any other person selling, soliciting, advertising, or offering insurance products or annuities to the consumer at an office of the institution or on behalf of the institution has violated the requirements of this part should contact the Division of Depositor and Consumer Protection, National Center for Consumer and Deposit Assistance, Federal Deposit Insurance Corporation, 1100 Walnut Street, Box #11, Kansas City, MO 64106, or telephone 1–877–275–3342, or FDIC Electronic Customer Assistance Form at https://ask.fdic.gov/fdicinformation andsupportcenter. Federal Deposit Insurance Corporation. Dated at Washington, DC, on August 3, 2022. James P. Sheesley, Assistant Executive Secretary. [FR Doc. 2022–16961 Filed 8–5–22; 8:45 am] BILLING CODE 6714–01–P SMALL BUSINESS ADMINISTRATION 13 CFR Part 115 RIN 3245–AH08 Regulatory Reform Initiative: Streamlining Surety Bond Guarantee Program U.S. Small Business Administration. ACTION: Final rule. AGENCY: This final rule revises various regulations related to SBA’s Surety Bond Guarantee (SBG) program because they are obsolete, unnecessary, ineffective, or burdensome. Additionally, this final rule clarifies and modernizes certain regulations and conforms them to industry standards. DATES: This rule is effective September 7, 2022. FOR FURTHER INFORMATION CONTACT: Jermaine Perry, Management Analyst, Office of Surety Guarantees at (202) 401–8275 or jermaine.perry@sba.gov. SUPPLEMENTARY INFORMATION: khammond on DSKJM1Z7X2PROD with RULES SUMMARY: VerDate Sep<11>2014 16:06 Aug 05, 2022 Jkt 256001 A. General Information The U.S. Small Business Administration (SBA) guarantees bid, payment, and performance bonds for small and emerging contractors who cannot obtain surety bonds through regular commercial channels. SBA’s guarantee, authorized pursuant to part B of title IV of the Small Business Investment Act of 1958, 15 U.S.C. 694a et seq., gives Sureties an incentive to provide bonding for small businesses and thereby assists small businesses in obtaining greater access to contracting opportunities. SBA’s guarantee is an agreement between a Surety and SBA that SBA will assume a certain percentage of the Surety’s loss should a contractor default on the underlying contract. SBA is authorized to guarantee a Surety for a contract up to $6.5 million and, with the certification of a contracting officer of a Federal agency, up to $10 million. For more information about SBA’s Surety Bond Guarantee Program (SBG Program), see https:// www.sba.gov/funding-programs/suretybonds. As part of its ongoing responsibility to ensure that the rules it issues do not have an adverse economic impact on those affected by those rules, the U.S. Small Business Administration (SBA) published an Advance Notice of Proposed Rulemaking (ANPRM) in the Federal Register on June 3, 2019 (84 FR 25496) seeking input from the public in identifying regulations under the SBG Program that affected parties believed should be repealed, replaced, or modified because they are obsolete, unnecessary, ineffective, or burdensome. In the ANPRM, SBA also solicited comments from the public on how SBA can improve the surety bond products, procedures, forms, and reporting requirements of the SBG Program. SBA considered the 54 comments submitted by the public in response and published a proposed rule in the Federal Register on September 23, 2021 (86 FR 52844) to revise various regulations in part 115 of title 13 of the Code of Federal Regulations that are obsolete, unnecessary, ineffective, or burdensome and to clarify and modernize certain regulations to conform them to industry standards. The comment period was open until November 22, 2021. In response to the request for comments, SBA received 8 comments, including 2 from national trade associations, 5 from surety organizations, and 1 was anonymous. The commenters expressed general support for all or some of the proposed changes, and SBA received no PO 00000 Frm 00002 Fmt 4700 Sfmt 4700 comments expressing opposition to any of the proposed changes (with one comment received that did not relate to any of the proposed changes). The comments received are summarized and addressed below in the section-by-section analysis. C. Section-by-Section Analysis Section 115.10. Under the current definition of ‘‘Contract’’ in this section, a Contract may include a maintenance agreement that is ancillary to a Contract for which SBA is guaranteeing the bond (‘‘ancillary maintenance agreement’’). SBA proposed to clarify the definition for these ancillary maintenance agreements and to also expand the definition of Contract to include standalone maintenance agreements. Under the current definition, SBA will guarantee the bond for a maintenance agreement if the agreement is for 2 years or less and covers defective workmanship or materials only. It has been SBA’s long-standing interpretation that the maintenance agreement must be ancillary to the Contract for which SBA is guaranteeing the bond and may not cover defective workmanship or materials that is covered by a manufacturer’s warranty. The current definition also provides that, with SBA’s written approval, the term of a maintenance agreement can be longer than 2 years for defective workmanship or materials or cover something other than defective workmanship or materials if the agreement is ancillary to the Contract for which SBA is guaranteeing a bond, is performed by the same Principal, and is customarily required in the relevant trade or industry. For clarity, SBA proposed to modify the existing definition by expressly applying the following requirements to all ancillary maintenance agreements: (1) the agreement must be ancillary to a Contract for which SBA is guaranteeing a bond; (2) the agreement must be performed by the same Principal; and (3) the agreement may only cover defective workmanship or materials that are not covered by a manufacturer’s warranty. With SBA’s prior written approval, the agreement covering defective workmanship or materials may be for a term longer than 2 years, or the agreement may cover something other than defective workmanship or materials, if such agreement is customarily required in the relevant trade or industry. SBA received one comment from a national trade association expressing support for the changes to the definition, noting that the need for the SBG Program to cover stand-alone E:\FR\FM\08AUR1.SGM 08AUR1

Agencies

  • FEDERAL DEPOSIT INSURANCE CORPORTATION
[Federal Register Volume 87, Number 151 (Monday, August 8, 2022)]
[Rules and Regulations]
[Pages 48079-48080]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-16961]



========================================================================
Rules and Regulations
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains regulatory documents 
having general applicability and legal effect, most of which are keyed 
to and codified in the Code of Federal Regulations, which is published 
under 50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by the Superintendent of Documents. 

========================================================================


Federal Register / Vol. 87, No. 151 / Monday, August 8, 2022 / Rules 
and Regulations

[[Page 48079]]



FEDERAL DEPOSIT INSURANCE CORPORTATION

12 CFR Parts 338 and 343

RIN 3064-AF84


Fair Housing Rule, Consumer Protection in Sales of Insurance 
Rule; Technical Correction

AGENCY: Federal Deposit Insurance Corporation.

ACTION: Technical correction.

-----------------------------------------------------------------------

SUMMARY: The Federal Deposit Insurance Corporation (FDIC) is making 
technical corrections to two regulations to reflect a reorganization 
and change in the name of its former Consumer Response Center. The new 
name is the National Center for Consumer and Depositor Assistance 
(NCDA). The two regulations are the FDIC's Fair Housing Rule and its 
Consumer Protection in Sales of Insurance Rule.

DATES: Effective August 8, 2022.

FOR FURTHER INFORMATION CONTACT: Alys V. Brown, Attorney, Legal 
Division, 202-898-3565, [email protected]; Thaddeus J. King, Policy 
Analyst, Division of Depositor and Consumer Protection, 202-898-3541, 
[email protected].

SUPPLEMENTARY INFORMATION: 

Background

    The final regulations that are subject to this technical correction 
are the Fair Housing Rule and the Consumer Protection in Sales of 
Insurance Rule. The Fair Housing Rule prohibits FDIC-supervised 
institutions from engaging in discriminatory advertising involving 
residential real estate-related transactions. The Consumer Protection 
in Sales of Insurance Rule prohibits certain actions in connection with 
retail sales practices, solicitations, advertising, or offers of 
insurance products.

Need for, and Effects of, the Technical Correction

    Historically, the FDIC operated two separate offices to handle its 
consumer assistance and depositor assistance functions, the Consumer 
Response Center and the Deposit Insurance Section respectively. To 
improve the efficiency and effectiveness of these offices and better 
serve consumers and depositors, the FDIC consolidated the two offices 
under one organization, entitled the National Center for Consumer and 
Depositor Assistance.
    To ensure that consumers have the most up to date information on 
how to contact the FDIC to submit consumer complaints and deposit 
insurance inquiries, the FDIC is making technical corrections to 12 CFR 
part 338 and 12 CFR part 343 to replace references to the ``Consumer 
Response Center'' with the ``National Center for Consumer and Depositor 
Assistance,'' and to correct web addresses.
    This technical correction may benefit some consumers by making it 
easier for them to contact the FDIC regarding complaints or questions 
about deposit insurance. The correction does not change any FDIC 
requirements affecting its supervised institutions.

List of Subjects

12 CFR Part 338

    Aged, Banks, banking, Civil rights, Credit, Fair housing, 
Individuals with disabilities, Marital status discrimination, 
Mortgages, Religious discrimination, Reporting and recordkeeping 
requirements, Savings associations, Sex discrimination, Signs and 
symbols.

12 CFR Part 343

    Banks, banking, Consumer protection, Insurance, Savings 
associations.

Authority and Issuance

    For the reasons stated in the preamble, the FDIC amends 12 CFR 
parts 338 and 343 as follows:

PART 338--FAIR HOUSING

0
1. The authority citation for part 338 continues to read as follows:

    Authority: 12 U.S.C. 1817, 1818, 1819, 1820(b), 2801 et seq.; 15 
U.S.C. 1691 et seq.; 42 U.S.C. 3605, 3608; 12 CFR parts 1002, 1003; 
24 CFR part 110.


0
2. Amend Sec.  338.4 by revising paragraph (b) to read as follows:


Sec.  338.4   Fair Housing Poster.

* * * * *
    (b) The Equal Housing Lender Poster shall be at least 11 by 14 
inches in size and have the following text:
    We Do Business in Accordance with Federal Fair Lending Laws.
    UNDER THE FEDERAL FAIR HOUSING ACT, IT IS ILLEGAL, ON THE BASIS OF 
RACE, COLOR, NATIONAL ORIGIN, RELIGION, SEX, HANDICAP, OR FAMILIAL 
STATUS (HAVING CHILDREN UNDER THE AGE OF 18) TO:
     Deny a loan for the purpose of purchasing, constructing, 
improving, repairing or maintaining a dwelling or to deny any loan 
secured by a dwelling; or
     Discriminate in fixing the amount, interest rate, 
duration, application procedures, or other terms or conditions of such 
a loan or in appraising property.
    IF YOU BELIEVE YOU HAVE BEEN DISCRIMINATED AGAINST, YOU SHOULD SEND 
A COMPLAINT TO:
    Assistant Secretary for Fair Housing and Equal Opportunity, 
Department of Housing and Urban Development, Washington, DC 20410.
    For processing under the Federal Fair Housing Act
    AND TO:
    Federal Deposit Insurance Corporation, National Center for Consumer 
and Deposit Assistance, https://ask.fdic.gov/fdicinformationandsupportcenter.
    For processing under the FDIC Regulations.
    UNDER THE EQUAL CREDIT OPPORTUNITY ACT, IT IS ILLEGAL TO 
DISCRIMINATE IN ANY CREDIT TRANSACTION:
     On the basis of race, color, national origin, religion, 
sex, marital status, or age;
     Because income is from public assistance; or
     Because a right has been exercised under the Consumer 
Credit Protection Act.
    IF YOU BELIEVE YOU HAVE BEEN DISCRIMINATED AGAINST, YOU SHOULD SEND 
A COMPLAINT TO:
    Federal Deposit Insurance Corporation, National Center for Consumer 
and Deposit Assistance,

[[Page 48080]]

https://ask.fdic.gov/fdicinformationandsupportcenter.
* * * * *

PART 343--CONSUMER PROTECTION IN SALES OF INSURANCE

0
3. The authority citation for part 343 continues to read as follows:

    Authority: 12 U.S.C. 1819 (Seventh and Tenth), 1831x.


0
4. Revise appendix A to part 343 to read as follows:

Appendix A to Part 343--Consumer Grievance Process

    Any consumer who believes that any institution or any other 
person selling, soliciting, advertising, or offering insurance 
products or annuities to the consumer at an office of the 
institution or on behalf of the institution has violated the 
requirements of this part should contact the Division of Depositor 
and Consumer Protection, National Center for Consumer and Deposit 
Assistance, Federal Deposit Insurance Corporation, 1100 Walnut 
Street, Box #11, Kansas City, MO 64106, or telephone 1-877-275-3342, 
or FDIC Electronic Customer Assistance Form at https://ask.fdic.gov/fdicinformationandsupportcenter.

Federal Deposit Insurance Corporation.

    Dated at Washington, DC, on August 3, 2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-16961 Filed 8-5-22; 8:45 am]
BILLING CODE 6714-01-P
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