National Bank Community Development Investments, 64358-64365 [2023-20187]

Download as PDF ddrumheller on DSK120RN23PROD with RULES1 64358 Federal Register / Vol. 88, No. 180 / Tuesday, September 19, 2023 / Rules and Regulations procedures established in these regulations and pursuant to 5 U.S.C. 5514, the Board must: (1) Certify, in writing, to the paying agency that the employee owes the debt, the amount and basis of the debt, the date on which payment(s) is due, the date the Government’s right to collect the debt first accrued, and that the Board’s regulations implementing 5 U.S.C. 5514 have been approved by the Office of Personnel Management; (2) Advise the paying agency of the amount or percentage of disposable pay to be collected in each installment and the number and commencing date of the installments (if a date other than the next officially established pay period is required); (3) Advise the paying agency of the action(s) taken under 5 U.S.C. 5514(b) and give the date(s) action(s) were taken (unless the employee has consented to the salary offset in writing or signed a statement acknowledging receipt of the required procedures and the written consent or statement is forwarded to the paying agency); (4) Submit a debt claim certification containing the information specified in paragraphs (b)(1), (2), and (3) of this section and an installment agreement (or other instruction on the payment schedule), if applicable, to the paying agency; and (5) Submit the debt claim to the paying agency for collection if the employee is in the process of separating, and has not received a final salary check, or other final payment(s) from the paying agency. The Board must submit a properly certified claim to the agency responsible for making such payments before the collection can be made. (c) Separated employee. If the employee is already separated and all payments due from his or her former paying agency have been paid, the Board may request, unless otherwise prohibited, that money due and payable to the employee from the Civil Service Retirement and Disability Fund (5 CFR 831.1801 et seq. or 5 CFR 845.401 et seq.), or other similar funds, be administratively offset to collect the debt (31 U.S.C. 3716 and the FCCS). (d) Employee transfer. When an employee transfers from one paying agency to another paying agency, the Board is not required to repeat the due process procedures described in 5 U.S.C. 5514 and this subpart to resume the collection. The Board will submit a properly certified claim to the new paying agency and will subsequently review the debt to verify that the collection is continued by the new paying agency. VerDate Sep<11>2014 21:34 Sep 18, 2023 Jkt 259001 § 1710.115 Notice of salary offset from another agency. (a) Complete claim. When the Board receives a certified claim from a creditor agency, deductions should be scheduled to begin at the next officially established pay interval. The Board’s finance office will provide the employee with a notice that contains: (1) A statement that the Board has received a certified debt claim from the creditor agency; (2) The amount of the debt claim; (3) The date salary offset deductions will begin; (4) The amount of such deductions; and (5) A copy of the notice received from the creditor agency. (b) Notice of Claim. The Board’s finance office will provide a copy of the notice to the creditor agency and advise the creditor agency of the dollar amount to be offset and the pay period when the offset will begin. (c) Incomplete claim. When the Board receives an incomplete certification of debt from a creditor agency, it must return the debt claim with notice that procedures under 5 U.S.C. 5514 and 10 CFR 1710.113 must be followed and a properly certified debt claim received before action will be taken to collect from the employee’s current pay account. (d) Review. The Board will not review the merits of the creditor agency’s determination with respect to the amount or validity of the debt certified by the creditor agency. (e) Employees who transfer from one paying agency to another. If, after the creditor agency has submitted the debt claim to the Board, the employee transfers from the Board to a different paying agency before the debt is collected in full, the Board will certify the total amount collected on the debt. One copy of the certification will be furnished to the employee and one copy to the creditor agency, along with notice of the employee’s transfer. § 1710.117 Refunds. (a) The Board will refund promptly any amounts deducted to satisfy debts owed to the United States when the debt is waived, found not owed to the United States, or when directed by an administrative or judicial order. (b) Unless required or permitted by law or contract, refunds under this section may not bear interest. § 1710.119 Non-waiver of rights. An employee’s involuntary payment of all or any part of a debt collected under these regulations will not be construed as a waiver of any rights that PO 00000 Frm 00008 Fmt 4700 Sfmt 4700 the employee may have under 5 U.S.C. 5514 or any other provision of contract or law, unless there are statutes or contracts to the contrary. § 1710.121 Interest, penalties, and administrative charges. Charges may be assessed for interest, penalties, and administrative charges in accordance with the FCCS, 31 CFR 901.9. Dated: September 7, 2023. Joyce Connery, Chair. [FR Doc. 2023–19716 Filed 9–18–23; 8:45 am] BILLING CODE 3670–01–P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency 12 CFR Part 24 [Docket ID OCC–2023–0005] RIN 1557–AF19 National Bank Community Development Investments Office of the Comptroller of the Currency (OCC), Treasury. AGENCY: Final rule; amendment of a form’s expiration date. ACTION: The OCC is making a nonsubstantive amendment to form ‘‘CD–1—National Bank Community Development (Part 24) Investments’’ to reflect the current expiration date assigned by the Office of Management and Budget under the Paperwork Reduction Act. SUMMARY: The final rule is effective on September 19, 2023. DATES: FOR FURTHER INFORMATION CONTACT: Chandni Ohri, Director for Community Development, (202) 649–6420, 400 7th Street SW, Washington, DC 20219. If you are deaf, hard of hearing, or have a speech disability, please dial 7–1–1 to access telecommunications relay services. The OCC is amending 12 CFR part 24, Appendix 1 to update the expiration date included on ‘‘CD–1—National Bank Community Development (Part 24) Investments’’ (CD–1 Form) to reflect the current August 31, 2025, expiration date assigned by the Office of Management and Budget (‘‘OMB’’) under the Paperwork Reduction Act. SUPPLEMENTARY INFORMATION: E:\FR\FM\19SER1.SGM 19SER1 Federal Register / Vol. 88, No. 180 / Tuesday, September 19, 2023 / Rules and Regulations Administrative Law Statements ddrumheller on DSK120RN23PROD with RULES1 A. Administrative Procedure Act The OCC is issuing the final rule without prior notice and the opportunity for public comment and the delayed effective date ordinarily prescribed by the Administrative Procedure Act (APA).1 Pursuant to section 553(b)(B) of the APA, general notice and the opportunity for public comment are not required with respect to a rulemaking when an ‘‘agency for good cause finds (and incorporates the finding and a brief statement of reasons therefor in the rules issued) that notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest.’’ 2 The final rule merely implements a nonsubstantive amendment to update the CD–1 Form’s expiration date in 12 CFR part 24, Appendix 1; therefore, requesting comment or delaying the correction would be unnecessary. For these reasons, the OCC finds that there is good cause to issue the final rule without notice and comment.3 The final rule is effective immediately upon publication in the Federal Register. The APA requires a 30-day delayed effective date, except for (1) substantive rules which grant or recognize an exemption or relieve a restriction; (2) interpretative rules and statements of policy; or (3) as otherwise provided by the agency for good cause.4 The final rule merely implements a nonsubstantive amendment to update the CD–1 Form’s expiration date and has no substantive effect.5 Therefore, the OCC finds good cause to dispense with the 30-day delayed effective date. B. Congressional Review Act For purposes of the Congressional Review Act, OMB makes a determination as to whether a final rule constitutes a ‘‘major’’ rule.6 If a rule is deemed a ‘‘major rule’’ by OMB, the Congressional Review Act generally provides that the rule may not take effect until at least 60 days following its publication.7 The Congressional Review Act defines a ‘‘major rule’’ as any rule that the Administrator of the Office of Information and Regulatory Affairs of the OMB finds has resulted in or is likely to result in (A) an annual effect on the economy of $100,000,000 or more; (B) a major increase in costs or 15 U.S.C. 553. U.S.C. 553(b)(B). 3 5 U.S.C. 553(b)(B); 553(d)(3). 4 5 U.S.C. 553(d). 5 5 U.S.C. 553(d)(1). 6 5 U.S.C. 801 et seq. 7 5 U.S.C. 801(a)(3). 25 VerDate Sep<11>2014 16:04 Sep 18, 2023 prices for consumers, individual industries, Federal, State, or local government agencies or geographic regions, or (C) significant adverse effects on competition, employment, investment, productivity, innovation, or on the ability of United States-based enterprises to compete with foreignbased enterprises in domestic and export markets.8 The OCC currently supervises approximately 1,060 national banks, federal savings associations, trust companies and federal branches and agencies of foreign banks (collectively, banks).9 This final rule will update the expiration date of the CD–1 Form that national banks must submit to provide an after-the-fact notice or to request prior approval of a public welfare investment. However, no new information is being collected by the form and no new requirements are being imposed on OCC-supervised institutions. Thus, we expect this change to have no impact and, thus, is not a ‘‘major rule’’ for purposes of the Congressional Review Act. For the same reasons set forth above, the OCC is adopting this final rule without the delayed effective date generally prescribed under the Congressional Review Act. The delayed effective date required by the Congressional Review Act does not apply to ‘‘any rule which an agency for good cause finds (and incorporates the finding and a brief statement of reasons therefor in the rule issued) that notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest.’’ 10 In light of the fact that the final rule has no substantive effect and merely updates the expiration date of the CD–1 Form, delaying the effective date of the final rule is unnecessary. As required by the Congressional Review Act, the OCC will submit the final rule and other appropriate reports to Congress and the Government Accountability Office for review. C. Paperwork Reduction Act The Paperwork Reduction Act of 1995 (44 U.S.C. 3501–3521) (PRA) states that no agency may conduct or sponsor, nor is the respondent required to respond to, an information collection unless it displays a currently valid OMB control number. OCC has determined that this final rule does not substantively affect any current information collections or create any new collections. The final rule will update the image of Form CD– 1, ‘‘National Bank Community Development Investments’’ (1557– 0194), that is included in 12 CFR part 24, Appendix 1 so that it reflects the expiration date of the currently approved information collection. D. Regulatory Flexibility Act The Regulatory Flexibility Act (RFA) 11 requires an agency to consider whether the rules it proposes will have a significant economic impact on a substantial number of small entities. The RFA applies only to rules for which an agency publishes a general notice of proposed rulemaking pursuant to 5 U.S.C. 553(b). Consistent with section 553(b)(B) of the APA, the OCC has determined for good cause that general notice and opportunity for public comment is unnecessary, and, therefore, the OCC did not issue a notice of proposed rulemaking. Accordingly, the RFA’s requirements relating to initial and final regulatory flexibility analyses do not apply. E. Riegle Community Development and Regulatory Improvement Act of 1994 Pursuant to section 302(a) of the Riegle Community Development and Regulatory Improvement Act (RCDRIA),12 in determining the effective date and administrative compliance requirements for new regulations that impose additional reporting, disclosure, or other requirements on insured depository institutions (IDIs), each Federal banking agency must consider, consistent with the principle of safety and soundness and the public interest, any administrative burdens that such regulations would place on depository institutions, including small depository institutions, and customers of depository institutions, as well as the benefits of such regulations. In addition, section 302(b) of RCDRIA requires new regulations and amendments to regulations that impose additional reporting, disclosures, or other new requirements on IDIs generally to take effect on the first day of a calendar quarter that begins on or after the date on which the regulations are published in final form, with certain exceptions, including for good cause.13 For the reasons described above, the OCC finds good cause exists under section 302 of RCDRIA to publish this final rule with an immediate effective date. F. Use of Plain Language Section 722 of the Gramm-LeachBliley Act 14 requires the Federal 11 5 85 U.S.C. 804(2). 9 Based on data as of February 28, 2023. 10 5 U.S.C. 808(2). Jkt 259001 PO 00000 Frm 00009 Fmt 4700 Sfmt 4700 64359 U.S.C. 601 et seq. U.S.C. 4802(a). 13 12 U.S.C. 4802(b)(1). 14 12 U.S.C. 4809. 12 12 E:\FR\FM\19SER1.SGM 19SER1 64360 Federal Register / Vol. 88, No. 180 / Tuesday, September 19, 2023 / Rules and Regulations banking agencies to use plain language in all proposed and final rules published after January 1, 2000. The OCC has sought to present the final rule in a simple and straightforward manner. G. Unfunded Mandates ddrumheller on DSK120RN23PROD with RULES1 As a general matter, the Unfunded Mandates Act of 1995 (UMRA), 2 U.S.C. 1531 et seq., requires the preparation of a budgetary impact statement before promulgating a rule that includes a Federal mandate that may result in the expenditure by State, local, and tribal governments, in the aggregate, or by the private sector, of $100 million or more in any one year. However, the UMRA does not apply to final rules for which a general notice of proposed rulemaking was not published. See 2 U.S.C. 1532(a). VerDate Sep<11>2014 16:04 Sep 18, 2023 Jkt 259001 Therefore, because the OCC has found good cause to dispense with notice and comment for this final rule, the OCC has not prepared a budgetary impact statement for the final rule under the UMRA. PART 24—COMMUNITY AND ECONOMIC DEVELOPMENT ENTITIES, COMMUNITY DEVELOPMENT PROJECTS, AND OTHER PUBLIC WELFARE INVESTMENTS List of Subjects in 12 CFR Part 24 Community development, Credit, Investments, Low and moderate income housing, Manpower, National banks, Reporting and recordkeeping requirements, Rural areas, Small businesses. ■ Authority and Issuance For the reasons stated in the SUPPLEMENTARY INFORMATION section, the Office of the Comptroller of the Currency amends 12 CFR part 24 as follows: PO 00000 Frm 00010 Fmt 4700 Sfmt 4700 1. The authority citation for part 24 continues to read as follows: Authority: 12 U.S.C. 24(Eleventh), 93a, 481 and 1818. 2. Revise Appendix 1 to Part 24—CD– 1—National Bank Community Development (Part 24) Investments to read as follows: ■ Appendix 1 to Part 24—CD–1— National Bank Community Development (Part 24) Investments BILLING CODE 4810–33–P E:\FR\FM\19SER1.SGM 19SER1 VerDate Sep<11>2014 16:04 Sep 18, 2023 Jkt 259001 PO 00000 Frm 00011 Fmt 4700 Sfmt 4725 E:\FR\FM\19SER1.SGM 19SER1 64361 ER19SE23.092</GPH> ddrumheller on DSK120RN23PROD with RULES1 Federal Register / Vol. 88, No. 180 / Tuesday, September 19, 2023 / Rules and Regulations VerDate Sep<11>2014 Federal Register / Vol. 88, No. 180 / Tuesday, September 19, 2023 / Rules and Regulations 16:04 Sep 18, 2023 Jkt 259001 PO 00000 Frm 00012 Fmt 4700 Sfmt 4725 E:\FR\FM\19SER1.SGM 19SER1 ER19SE23.093</GPH> ddrumheller on DSK120RN23PROD with RULES1 64362 VerDate Sep<11>2014 16:04 Sep 18, 2023 Jkt 259001 PO 00000 Frm 00013 Fmt 4700 Sfmt 4725 E:\FR\FM\19SER1.SGM 19SER1 64363 ER19SE23.094</GPH> ddrumheller on DSK120RN23PROD with RULES1 Federal Register / Vol. 88, No. 180 / Tuesday, September 19, 2023 / Rules and Regulations VerDate Sep<11>2014 Federal Register / Vol. 88, No. 180 / Tuesday, September 19, 2023 / Rules and Regulations 16:04 Sep 18, 2023 Jkt 259001 PO 00000 Frm 00014 Fmt 4700 Sfmt 4725 E:\FR\FM\19SER1.SGM 19SER1 ER19SE23.095</GPH> ddrumheller on DSK120RN23PROD with RULES1 64364 Federal Register / Vol. 88, No. 180 / Tuesday, September 19, 2023 / Rules and Regulations [FR Doc. 2023–20187 Filed 9–18–23; 8:45 am] BILLING CODE 4810–33–C DEPARTMENT OF TRANSPORTATION Federal Aviation Administration 14 CFR Part 39 ddrumheller on DSK120RN23PROD with RULES1 [Docket No. FAA–2023–1221; Project Identifier MCAI–2023–00070–T; Amendment 39–22543; AD 2023–18–02] RIN 2120–AA64 Airworthiness Directives; Airbus SAS Airplanes Federal Aviation Administration (FAA), DOT. ACTION: Final rule. AGENCY: VerDate Sep<11>2014 16:04 Sep 18, 2023 Jkt 259001 PO 00000 Frm 00015 Fmt 4700 Sfmt 4700 The FAA is superseding Airworthiness Directive (AD) 2020–06– 10, which applied to certain Airbus SAS Model A318 series airplanes; Model A319–111, –112, –113, –114, –115, –131, –132, and –133 airplanes; Model A320–211, –212, –214, –216, –231, –232, and –233 airplanes; and Model A321–111, –112, –131, –211, –212, –213, –231, and –232 airplanes. AD 2020–06–10 required repetitive inspections for cracking of the vertical stiffeners of the left- and right-hand sides of the window frames and corrective actions if necessary. Since the FAA issued AD 2020–06–10, it was determined that certain compliance times need to be reduced. This AD SUMMARY: E:\FR\FM\19SER1.SGM 19SER1 ER19SE23.096</GPH> Benjamin W. McDonough, Senior Deputy Comptroller and Chief Counsel. 64365

Agencies

[Federal Register Volume 88, Number 180 (Tuesday, September 19, 2023)]
[Rules and Regulations]
[Pages 64358-64365]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-20187]


=======================================================================
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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

12 CFR Part 24

[Docket ID OCC-2023-0005]
RIN 1557-AF19


National Bank Community Development Investments

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Final rule; amendment of a form's expiration date.

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

SUMMARY: The OCC is making a nonsubstantive amendment to form ``CD-1--
National Bank Community Development (Part 24) Investments'' to reflect 
the current expiration date assigned by the Office of Management and 
Budget under the Paperwork Reduction Act.

DATES: The final rule is effective on September 19, 2023.

FOR FURTHER INFORMATION CONTACT: Chandni Ohri, Director for Community 
Development, (202) 649-6420, 400 7th Street SW, Washington, DC 20219. 
If you are deaf, hard of hearing, or have a speech disability, please 
dial 7-1-1 to access telecommunications relay services.

SUPPLEMENTARY INFORMATION: The OCC is amending 12 CFR part 24, Appendix 
1 to update the expiration date included on ``CD-1--National Bank 
Community Development (Part 24) Investments'' (CD-1 Form) to reflect 
the current August 31, 2025, expiration date assigned by the Office of 
Management and Budget (``OMB'') under the Paperwork Reduction Act.

[[Page 64359]]

Administrative Law Statements

A. Administrative Procedure Act

    The OCC is issuing the final rule without prior notice and the 
opportunity for public comment and the delayed effective date 
ordinarily prescribed by the Administrative Procedure Act (APA).\1\ 
Pursuant to section 553(b)(B) of the APA, general notice and the 
opportunity for public comment are not required with respect to a 
rulemaking when an ``agency for good cause finds (and incorporates the 
finding and a brief statement of reasons therefor in the rules issued) 
that notice and public procedure thereon are impracticable, 
unnecessary, or contrary to the public interest.'' \2\ The final rule 
merely implements a nonsubstantive amendment to update the CD-1 Form's 
expiration date in 12 CFR part 24, Appendix 1; therefore, requesting 
comment or delaying the correction would be unnecessary. For these 
reasons, the OCC finds that there is good cause to issue the final rule 
without notice and comment.\3\
---------------------------------------------------------------------------

    \1\ 5 U.S.C. 553.
    \2\ 5 U.S.C. 553(b)(B).
    \3\ 5 U.S.C. 553(b)(B); 553(d)(3).
---------------------------------------------------------------------------

    The final rule is effective immediately upon publication in the 
Federal Register. The APA requires a 30-day delayed effective date, 
except for (1) substantive rules which grant or recognize an exemption 
or relieve a restriction; (2) interpretative rules and statements of 
policy; or (3) as otherwise provided by the agency for good cause.\4\ 
The final rule merely implements a nonsubstantive amendment to update 
the CD-1 Form's expiration date and has no substantive effect.\5\ 
Therefore, the OCC finds good cause to dispense with the 30-day delayed 
effective date.
---------------------------------------------------------------------------

    \4\ 5 U.S.C. 553(d).
    \5\ 5 U.S.C. 553(d)(1).
---------------------------------------------------------------------------

B. Congressional Review Act

    For purposes of the Congressional Review Act, OMB makes a 
determination as to whether a final rule constitutes a ``major'' 
rule.\6\ If a rule is deemed a ``major rule'' by OMB, the Congressional 
Review Act generally provides that the rule may not take effect until 
at least 60 days following its publication.\7\
---------------------------------------------------------------------------

    \6\ 5 U.S.C. 801 et seq.
    \7\ 5 U.S.C. 801(a)(3).
---------------------------------------------------------------------------

    The Congressional Review Act defines a ``major rule'' as any rule 
that the Administrator of the Office of Information and Regulatory 
Affairs of the OMB finds has resulted in or is likely to result in (A) 
an annual effect on the economy of $100,000,000 or more; (B) a major 
increase in costs or prices for consumers, individual industries, 
Federal, State, or local government agencies or geographic regions, or 
(C) significant adverse effects on competition, employment, investment, 
productivity, innovation, or on the ability of United States-based 
enterprises to compete with foreign-based enterprises in domestic and 
export markets.\8\ The OCC currently supervises approximately 1,060 
national banks, federal savings associations, trust companies and 
federal branches and agencies of foreign banks (collectively, 
banks).\9\ This final rule will update the expiration date of the CD-1 
Form that national banks must submit to provide an after-the-fact 
notice or to request prior approval of a public welfare investment. 
However, no new information is being collected by the form and no new 
requirements are being imposed on OCC-supervised institutions. Thus, we 
expect this change to have no impact and, thus, is not a ``major rule'' 
for purposes of the Congressional Review Act.
---------------------------------------------------------------------------

    \8\ 5 U.S.C. 804(2).
    \9\ Based on data as of February 28, 2023.
---------------------------------------------------------------------------

    For the same reasons set forth above, the OCC is adopting this 
final rule without the delayed effective date generally prescribed 
under the Congressional Review Act. The delayed effective date required 
by the Congressional Review Act does not apply to ``any rule which an 
agency for good cause finds (and incorporates the finding and a brief 
statement of reasons therefor in the rule issued) that notice and 
public procedure thereon are impracticable, unnecessary, or contrary to 
the public interest.'' \10\ In light of the fact that the final rule 
has no substantive effect and merely updates the expiration date of the 
CD-1 Form, delaying the effective date of the final rule is 
unnecessary.
---------------------------------------------------------------------------

    \10\ 5 U.S.C. 808(2).
---------------------------------------------------------------------------

    As required by the Congressional Review Act, the OCC will submit 
the final rule and other appropriate reports to Congress and the 
Government Accountability Office for review.

C. Paperwork Reduction Act

    The Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3521) (PRA) 
states that no agency may conduct or sponsor, nor is the respondent 
required to respond to, an information collection unless it displays a 
currently valid OMB control number. OCC has determined that this final 
rule does not substantively affect any current information collections 
or create any new collections. The final rule will update the image of 
Form CD-1, ``National Bank Community Development Investments'' (1557-
0194), that is included in 12 CFR part 24, Appendix 1 so that it 
reflects the expiration date of the currently approved information 
collection.

D. Regulatory Flexibility Act

    The Regulatory Flexibility Act (RFA) \11\ requires an agency to 
consider whether the rules it proposes will have a significant economic 
impact on a substantial number of small entities. The RFA applies only 
to rules for which an agency publishes a general notice of proposed 
rulemaking pursuant to 5 U.S.C. 553(b). Consistent with section 
553(b)(B) of the APA, the OCC has determined for good cause that 
general notice and opportunity for public comment is unnecessary, and, 
therefore, the OCC did not issue a notice of proposed rulemaking. 
Accordingly, the RFA's requirements relating to initial and final 
regulatory flexibility analyses do not apply.
---------------------------------------------------------------------------

    \11\ 5 U.S.C. 601 et seq.
---------------------------------------------------------------------------

E. Riegle Community Development and Regulatory Improvement Act of 1994

    Pursuant to section 302(a) of the Riegle Community Development and 
Regulatory Improvement Act (RCDRIA),\12\ in determining the effective 
date and administrative compliance requirements for new regulations 
that impose additional reporting, disclosure, or other requirements on 
insured depository institutions (IDIs), each Federal banking agency 
must consider, consistent with the principle of safety and soundness 
and the public interest, any administrative burdens that such 
regulations would place on depository institutions, including small 
depository institutions, and customers of depository institutions, as 
well as the benefits of such regulations. In addition, section 302(b) 
of RCDRIA requires new regulations and amendments to regulations that 
impose additional reporting, disclosures, or other new requirements on 
IDIs generally to take effect on the first day of a calendar quarter 
that begins on or after the date on which the regulations are published 
in final form, with certain exceptions, including for good cause.\13\ 
For the reasons described above, the OCC finds good cause exists under 
section 302 of RCDRIA to publish this final rule with an immediate 
effective date.
---------------------------------------------------------------------------

    \12\ 12 U.S.C. 4802(a).
    \13\ 12 U.S.C. 4802(b)(1).
---------------------------------------------------------------------------

F. Use of Plain Language

    Section 722 of the Gramm-Leach-Bliley Act \14\ requires the Federal

[[Page 64360]]

banking agencies to use plain language in all proposed and final rules 
published after January 1, 2000. The OCC has sought to present the 
final rule in a simple and straightforward manner.
---------------------------------------------------------------------------

    \14\ 12 U.S.C. 4809.
---------------------------------------------------------------------------

G. Unfunded Mandates

    As a general matter, the Unfunded Mandates Act of 1995 (UMRA), 2 
U.S.C. 1531 et seq., requires the preparation of a budgetary impact 
statement before promulgating a rule that includes a Federal mandate 
that may result in the expenditure by State, local, and tribal 
governments, in the aggregate, or by the private sector, of $100 
million or more in any one year. However, the UMRA does not apply to 
final rules for which a general notice of proposed rulemaking was not 
published. See 2 U.S.C. 1532(a). Therefore, because the OCC has found 
good cause to dispense with notice and comment for this final rule, the 
OCC has not prepared a budgetary impact statement for the final rule 
under the UMRA.

List of Subjects in 12 CFR Part 24

    Community development, Credit, Investments, Low and moderate income 
housing, Manpower, National banks, Reporting and recordkeeping 
requirements, Rural areas, Small businesses.

Authority and Issuance

    For the reasons stated in the SUPPLEMENTARY INFORMATION section, 
the Office of the Comptroller of the Currency amends 12 CFR part 24 as 
follows:

PART 24--COMMUNITY AND ECONOMIC DEVELOPMENT ENTITIES, COMMUNITY 
DEVELOPMENT PROJECTS, AND OTHER PUBLIC WELFARE INVESTMENTS

0
1. The authority citation for part 24 continues to read as follows:

    Authority:  12 U.S.C. 24(Eleventh), 93a, 481 and 1818.


0
2. Revise Appendix 1 to Part 24--CD-1--National Bank Community 
Development (Part 24) Investments to read as follows:

Appendix 1 to Part 24--CD-1--National Bank Community Development (Part 
24) Investments

BILLING CODE 4810-33-P

[[Page 64361]]

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[[Page 64362]]


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[[Page 64363]]


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[[Page 64364]]


[GRAPHIC] [TIFF OMITTED] TR19SE23.095


[[Page 64365]]


[GRAPHIC] [TIFF OMITTED] TR19SE23.096


Benjamin W. McDonough,
Senior Deputy Comptroller and Chief Counsel.
[FR Doc. 2023-20187 Filed 9-18-23; 8:45 am]
BILLING CODE 4810-33-C

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