Agency Information Collection Activities: Proposed Collection Renewal; Comment Request, 38136-38143 [2024-09856]
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38136
Federal Register / Vol. 89, No. 89 / Tuesday, May 7, 2024 / Notices
comment on the renewal of the existing
information collections described below
(OMB Control No. 3064–0082; –0084).
adjudicate potential violations of
Commission rules.
Federal Communications Commission.
Marlene Dortch,
Secretary, Office of the Secretary.
DATES:
[FR Doc. 2024–09944 Filed 5–6–24; 8:45 am]
ADDRESSES:
Comments must be submitted on
or before July 8, 2024.
BILLING CODE 6712–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
[OMB No. 3064–0082; –0084]
Agency Information Collection
Activities: Proposed Collection
Renewal; Comment Request
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Notice and request for comment.
AGENCY:
The FDIC, as part of its
obligations under the Paperwork
Reduction Act of 1995 (PRA), invites the
general public and other Federal
agencies to take this opportunity to
SUMMARY:
Interested parties are
invited to submit written comments to
the FDIC by any of the following
methods:
• Agency Website: https://
www.fdic.gov/resources/regulations/
federal-register-publications/.
• Email: comments@fdic.gov. Include
the name and number of the collection
in the subject line of the message.
• Mail: Manny Cabeza (202–898–
3767), Regulatory Counsel, MB–3128,
Federal Deposit Insurance Corporation,
550 17th Street NW, Washington, DC
20429.
• Hand Delivery: Comments may be
hand-delivered to the guard station at
the rear of the 17th Street NW building
(located on F Street NW), on business
days between 7:00 a.m. and 5:00 p.m.
All comments should refer to the
relevant OMB control number. A copy
of the comments may also be submitted
to the OMB desk officer for the FDIC:
Office of Information and Regulatory
Affairs, Office of Management and
Budget, New Executive Office Building,
Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT:
Manny Cabeza, Regulatory Counsel,
202–898–3767, mcabeza@fdic.gov, MB–
3128, Federal Deposit Insurance
Corporation, 550 17th Street NW,
Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
Proposal to renew the following
currently approved collection of
information:
1. Title: Recordkeeping, Disclosure
and Reporting Requirements in
Connection with Regulation Z.
OMB Number: 3064–0082.
Form Number: None.
Affected Public: FDIC-Supervised
Institutions.
Burden Estimate:
TABLE 1—SUMMARY OF ESTIMATED ANNUAL IMPLEMENTATION BURDEN
[OMB No. 3064–0082]
Information collection (IC) (obligation
to respond)
Type of burden
(frequency of response)
Number of
responses per
respondent
Number of
respondents
Time per
response
(HH:MM)
Annual burden
(hours)
Open-End Credit Products:
• Not Home-Secured Open-End Credit Plans
Æ Credit and Charge Card Provisions
Timely Settlement of Estate Debts
Written Policies and Procedures,
12 CFR 1026.11(c)(1) (Mandatory).
Ability to Pay Written Policies and
Procedures, 12 CFR 1026.51(a)(ii)
(Mandatory).
Recordkeeping (On Occasion) .......
8
1
08:00
64
Recordkeeping (On Occasion) .......
8
1
08:00
64
Recordkeeping (On Occasion) .......
8
1
20:00
160
.........................................................
........................
........................
........................
288
Mortgage Products (Open and Closed-End):
• Valuation Independence
Æ Mandatory Reporting
Implementation of Policies and Procedures, 12 CFR 1026.42(g) (Mandatory).
Total Annual Implementation
Burden (Hours).
Source: FDIC.
Note: The estimated annual IC time burden is the product, rounded to the nearest hour, of the estimated annual number of responses and the
estimated time per response for a given IC. The estimated annual number of responses is the product, rounded to the nearest whole number, of
the estimated annual number of respondents and the estimated annual number of responses per respondent. This methodology ensures the estimated annual burdens in the table are consistent with the values recorded in OMB’s consolidated information system.
TABLE 2—SUMMARY OF ESTIMATED ANNUAL ONGOING BURDEN
khammond on DSKJM1Z7X2PROD with NOTICES
[OMB No. 3064–0082]
Information collection (IC)
(obligation to respond)
Type of burden
(frequency of response)
Number of
respondents
Number of
responses per
respondent
Open-End Credit Products:
• Not Home-Secured Open-End Credit Plans
Æ General Disclosure Rules for Not Home-Secured Open-End Credit Plans
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Time per
response
(HH:MM)
Annual
burden
(hours)
38137
Federal Register / Vol. 89, No. 89 / Tuesday, May 7, 2024 / Notices
TABLE 2—SUMMARY OF ESTIMATED ANNUAL ONGOING BURDEN—Continued
[OMB No. 3064–0082]
Number of
respondents
Number of
responses per
respondent
Time per
response
(HH:MM)
Annual
burden
(hours)
Information collection (IC)
(obligation to respond)
Type of burden
(frequency of response)
1. Credit and Charge Card Applications
and Solicitations, 12 CFR 1026.60
(Mandatory).
2. Account Opening Disclosures, 12
CFR 1026.6(b) (Mandatory).
3. Periodic Statements, 12 CFR
1026.7(b) (Mandatory).
4. Annual Statement of Billing Rights,
12 CFR 1026.9(a)(1) (Mandatory).
5. Alternative Summary Statement of
Billing Rights, 12 CFR 1026.9(a)(2)
(Voluntary).
6. Change in Terms Disclosures, 12
CFR 1026.9(b) through (h) (Mandatory).
Disclosure (Annual) .....................
478
1
08:00
3,824
Disclosure (Annual) .....................
478
1
12:00
5,736
Disclosure (Monthly) ...................
478
12
08:00
45,888
Disclosure (Annual) .....................
478
1
08:00
3,824
Disclosure (Monthly) ...................
478
12
08:00
45,888
Disclosure (Annual) .....................
478
1
08:00
3,824
Disclosure (On Occasion) ...........
478
61
00:05
2,430
Recordkeeping (Annual) .............
478
1
12:00
5,736
Reporting (Annual) ......................
478
1
08:00
3,824
Reporting (Quarterly) ..................
478
4
03:00
5,736
Disclosure (Quarterly) .................
478
4
06:00
11,472
Disclosure (On Occasion) ...........
478
14
00:15
1,673
Disclosure (Annual) .....................
2,189
1
12:00
26,268
Disclosure (Annual) .....................
2,189
1
12:00
26,268
Disclosure (Annual) .....................
2,189
1
08:00
17,512
Disclosure (Annual) .....................
2,189
1
08:00
17,512
Disclosure (Annual) .....................
2,189
1
08:00
17,512
Disclosure (Annual) .....................
2,189
1
08:00
17,512
Disclosure (Annual) .....................
2,189
1
02:00
4,378
Disclosure (On Occasion) ...........
2,265
937
00:01
35,372
2,551
1
12:00
30,612
Æ Credit and Charge Card Provisions
7. Timely Settlement of Estate Debts,
12 CFR 1026.11(c)(2) (Mandatory).
8. Ability to Pay, 12 CFR 1026.51
(Mandatory).
9. College Student Credit Annual Report, 12 CFR 1026.57(d) (Mandatory).
10. Submission of Credit Card Agreements, 12 CFR 1026.58(c) (Mandatory).
11. Internet Posting of Credit Card
Agreements, 12 CFR 1026.58(d)
(Mandatory).
12. Individual Credit Card Agreements,
12 CFR 1026.58(e) (Mandatory).
• Home Equity Open-End Credit Plans (HELOC)
Æ General Disclosure Rules for HELOC’s
13. Application Disclosures, 12 CFR
1026.40 (Mandatory).
14. Account Opening Disclosures, 12
CFR 1026.6(a) (Mandatory).
15. Periodic Statements, 12 CFR
1026.7(a) (Mandatory).
16. Annual Statement of Billing Rights,
12 CFR 1026.9(a)(1) (Mandatory).
17. Alternative Summary Statement of
Billing Rights, 12 CFR 1026.9(a)(2)
(Mandatory).
18. Change in Terms Disclosures, 12
CFR 1026.9(b) through (h) (Mandatory).
19. Notice to Restrict Credit, 12 CFR
1026.9(c)(1)(iii); 1026.40(f)(3)(i) and
(vi) (Mandatory).
• All Open-End Credit Plans
khammond on DSKJM1Z7X2PROD with NOTICES
20. Error Resolution, 12 CFR 1026.13
(Mandatory).
Closed-End Credit Products:
• General Rules for Closed-End Credit
21. Other than Real Estate, Home-Secured and Private Education Loans,
12 CFR 1026.17 and 1026.18 (Mandatory).
Disclosure (Annual) .....................
• Closed-End Mortgages
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38138
Federal Register / Vol. 89, No. 89 / Tuesday, May 7, 2024 / Notices
TABLE 2—SUMMARY OF ESTIMATED ANNUAL ONGOING BURDEN—Continued
[OMB No. 3064–0082]
Information collection (IC)
(obligation to respond)
Type of burden
(frequency of response)
Number of
responses per
respondent
Number of
respondents
Time per
response
(HH:MM)
Annual
burden
(hours)
Æ Application and Consummation
22. Loan Estimate, 12 CFR 1026.19(e);
and 1026.37 (Mandatory).
23. Closing Disclosure, 12 CFR
1026.19(f); and 1026.38 (Mandatory).
24. Record Retention of Disclosures, 12
CFR 1026.19(e), (f); 1026.37; and
1026.38 (Mandatory).
Disclosure (Annual) .....................
2,815
1
08:00
22,520
Disclosure (Annual) .....................
2,815
1
08:00
22,520
Recordkeeping (Annual) .............
2,815
1
00:18
845
Disclosure (Annual) .....................
2,815
1
40:00
112,600
Disclosure (Annual) .....................
2,815
1
08:00
22,520
Disclosure (Annual) .....................
2,815
1
01:30
4,223
Disclosure (Annual) .....................
2,815
1
02:00
5,630
Disclosure (Annual) .....................
2,815
1
08:00
22,520
Disclosure (Annual) .....................
2,815
1
08:00
22,520
Recordkeeping (On Occasion) ....
2,815
1166
00:15
820,573
Disclosure (On Occasion) ...........
2,815
45
00:12
25,335
Disclosure (Annual) .....................
2,829
1
08:00
22,632
Disclosure (Annual) .....................
2,829
1
08:00
22,632
Reporting (On Occasion) ............
2,829
1
00:10
472
Disclosure (Annual) .....................
1
1
24:00
24
2,815
1
00:14
657
Æ Post-Consummation Disclosures
25. Interest Rate and Payment Summary, 12 CFR 1026.18(s) (Mandatory).
26. No Guarantee to Refinance Statement, 12 CFR 1026.18(t) (Mandatory).
27. ARMs Rate Adjustments with Payment Change Disclosures, 12 CFR
1026.20(c) (Mandatory).
28. Initial Rate Adjustment Disclosure
for ARMs, 12 CFR 1026.20(d) (Mandatory).
29. Escrow Cancellation Notice, 12
CFR 1026.20(e) (Mandatory).
30. Periodic Statements, 12 CFR
1026.41 (Mandatory).
Æ Ability to Repay Requirements
31. Minimum Standards, 12 CFR
1026.43(c) through (f) (Mandatory).
32. Prepayment Penalties, 12 CFR
1026.43(g) (Mandatory).
Mortgage Products (Open and Closed-End):
• Mortgage Servicing Disclosures
Æ Payoff Statements
33. Payoff Statements, 12 CFR
1026.36(c)(3) (Mandatory).
Æ Notice of Sale or Transfer
34. Notice of Sale or Transfer, 12 CFR
1026.39 (Mandatory).
• Valuation Independence
Æ Mandatory Reporting
35. Reporting Appraiser Noncompliance, 12 CFR 1026.42(g) (Mandatory).
Reverse and High-Cost Mortgages:
• Reverse Mortgages
Æ Reverse Mortgage Disclosures
khammond on DSKJM1Z7X2PROD with NOTICES
36. Reverse Mortgage Disclosures, 12
CFR 1026.31(c)(2) and 1026.33
(Mandatory).
• High-Cost Mortgage Loans
Æ HOEPA Disclosures and Notice
37. HOEPA Disclosures and Notice, 12
CFR 1026.32(c) (Mandatory).
Disclosure (Annual) .....................
Private Education Loans:
• Initial Disclosures
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38139
Federal Register / Vol. 89, No. 89 / Tuesday, May 7, 2024 / Notices
TABLE 2—SUMMARY OF ESTIMATED ANNUAL ONGOING BURDEN—Continued
[OMB No. 3064–0082]
Information collection (IC)
(obligation to respond)
Type of burden
(frequency of response)
Number of
respondents
Number of
responses per
respondent
Time per
response
(HH:MM)
Annual
burden
(hours)
Æ Application and Solicitation Disclosures
38. Application or Solicitation Disclosures, 12 CFR 1026.47(a) (Mandatory).
Disclosure (Annual) .....................
2,755
1
60:00
165,300
Disclosure (Annual) .....................
2,755
1
60:00
165,300
Disclosure (Annual) .....................
2,755
1
60:00
165,300
Disclosure (Annual) .....................
2,265
1
00:20
755
Disclosure (Annual) .....................
2,856
1
00:20
952
Recordkeeping (Annual) .............
2,857
1
00:18
857
......................................................
........................
........................
........................
1,959,488
Æ Approval Disclosures
39. Approval Disclosures, 12 CFR
1026.47(b) (Mandatory).
Æ Final Disclosures
40. Final Disclosures, 12 CFR
1026.47(c) (Mandatory).
Advertising Rules
• All Credit Types
Æ Open-End Credit
41. Open-End Credit, 12 CFR 1026.16
(Mandatory).
Æ Closed-End Credit
42. Closed-End Credit, 12 CFR 1026.24
(Mandatory).
Record Retention:
• Evidence of Compliance
43. Regulation Z in General, 12 CFR
1026.25 (Mandatory).
Total Annual Ongoing Burden
(Hours).
khammond on DSKJM1Z7X2PROD with NOTICES
Source: FDIC.
Note: The estimated annual IC time burden is the product, rounded to the nearest hour, of the estimated annual number of responses and the
estimated time per response for a given IC. The estimated annual number of responses is the product, rounded to the nearest whole number, of
the estimated annual number of respondents and the estimated annual number of responses per respondent. This methodology ensures the estimated annual burdens in the table are consistent with the values recorded in OMB’s consolidated information system.
General Description of Collection:
Consumer Financial Protection Bureau
(CFPB) Regulation Z—12 CFR 1026
implements the Truth in Lending Act
(15 U.S.C. 1601, et seq.) and certain
provisions of the Real Estate Settlement
Procedures Act (12 U.S.C. 2601 et seq.).
This regulation prescribes uniform
methods for computing the cost of
credit, the disclosure of credit terms and
costs, the resolution of errors and
imposes various other recordkeeping,
reporting and disclosure requirements.
The FDIC has enforcement authority on
the requirements of the CFPB’s
Regulation over the financial
institutions it supervises. This
information collection captures the
recordkeeping, reporting, and disclosure
burdens of Regulation Z on FDICsupervised institutions. To arrive at the
estimated annual burden the FDIC
assessed the number of potential
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respondents to the information
collection by identifying the number of
FDIC-supervised institutions who
reported activity that would be within
the scope of the information collection
requirements according to data from the
most recent Call Report. Additionally,
the FDIC estimated the frequency of
responses to the recordkeeping,
reporting, or disclosure requirements by
assessing the dollar volume of activity
that would be within the scope of the
information collection. In some
instances, the FDIC used information
provided by other sources to estimate
the magnitude and scope of activity
attributable to FDIC-supervised
institutions when more immediate
information sources did not exist.
The estimated annual burden, in
hours, is the product of the estimated
number of respondents per year,
estimated number of responses per
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respondent per year, and estimated
hours per response, as summarized in
Table 1 for the implementation burden
and in Table 2 for the ongoing burden,
below. The total estimated annual
burden for this Information Collection
Request (ICR) is 1,959,766 hours (288
hours estimated implementation
burden, plus 1,959,488 hours estimated
ongoing burden), which is a decrease of
71,838 hours from the 2021 estimate. As
the estimated time per response
remained the same from the 2021 ICR,
the change in the total estimated annual
burden hours is attributable to the
decrease in the estimated number of
respondents in Table 2.
2. Title: Account Based Disclosures in
Connection with Consumer Financial
Protection Bureau Regulations E and DD
and Federal Reserve Regulation CC.
OMB Number: 3064–0084.
Form Number: None.
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38140
Federal Register / Vol. 89, No. 89 / Tuesday, May 7, 2024 / Notices
Affected Public: FDIC-Supervised
Institutions.
Burden Estimate:
SUMMARY OF ESTIMATED ANNUAL BURDEN
[OMB No. 3064–0084]
Information collection (IC)
(obligation to respond)
Type of burden
(frequency of response)
Number of
responses per
respondent
Number of
respondents
Time per
response
(HH:MM)
Annual burden
(hours)
khammond on DSKJM1Z7X2PROD with NOTICES
CFPB Regulation E—12 CFR Part 1005
1. Initial Disclosures: General, 12 CFR
1005.7(b) (Mandatory).
2. Initial Disclosures: Payroll Cards, 12
CFR 1005.18(c)(1) (Mandatory).
3. Initial Disclosures: Change in
Terms, 12 CFR 1005.8(a) (Mandatory).
4. Error Resolution Rules: General, 12
CFR 1005.8(b), 12 CFR 1005.11
(Mandatory).
5. Error Resolution Rules: Payroll
Cards, 12 CFR 1005.18 (Mandatory).
6. Prepaid Accounts: New Products—
Short Form Disclosure, 12 CFR
1005.18(b)(2), 12 CFR 1005.15(c)
(Mandatory).
7. Prepaid Accounts: New Products—
Long Form Disclosure, 12 CFR
1005.18(b)(4), 12 CFR 1005.15(c)
(Mandatory).
8. Prepaid Accounts: Implementation—Short Form Additional Fee
Type
Disclosure,
12
CFR
1005.18(b)(2)(ix) (Mandatory).
9. Prepaid Accounts: Implementation—Access to Prepaid Account Information, 12 CFR 1005.18(c)(5), 12
CFR 1005.15(d) (Mandatory).
10. Prepaid Accounts: Implementation—Error Resolution, 12 CFR
1005.18(e)(2), 12 CFR 1005.11
(Mandatory).
11. Prepaid Accounts: Implementation—Submission of Agreements, 12
CFR 1005.19(b) (Mandatory).
12. Prepaid Accounts: Ongoing—Short
Form Additional Fee Type Disclosure, 12 CFR 1005.18(b)(2)(ix)
(Mandatory).
13. Prepaid Accounts: Ongoing—Access to Prepaid Account Information, 12 CFR 1005.18(c)(5), 12 CFR
1005.15(d) (Mandatory).
14. Prepaid Accounts: Ongoing—Error
Resolution, 12 CFR 1005.18(e)(2),
12 CFR 1005.11 (Mandatory).
15. Prepaid Accounts: Ongoing—Submission of Agreements, 12 CFR
1005.19(b) (Mandatory).
16. Gift Cards/Certificates: Implementation—Exclusion Policies and Procedures, 12 CFR 1005.20(b)(2)
(Mandatory).
17. Gift Cards/Certificates: Implementation—Policies & Procedures 12
CFR 1005.20(e)(1) (Mandatory).
18. Gift Cards/Certificates: Ongoing—
Exclusion Policies and Procedures,
12 CFR 1005.20(b)(2) (Mandatory).
19. Gift Cards/Certificates: Ongoing—
Policies & Procedures 12 CFR
1005.20(e)(1) (Mandatory).
VerDate Sep<11>2014
15:55 May 06, 2024
Disclosure (On Occasion) .............
2,871
83
00:01.5
5,957
Disclosure (On Occasion) .............
6
5,000
00:01.5
750
Disclosure (On Occasion) .............
2,871
113
00:01
5,407
Disclosure (On Occasion) .............
2,871
3
00:30
4,307
Disclosure (On Occasion) .............
6
8
00:30
24
Disclosure (On Occasion) .............
2
24.33
40:00
1,960
Disclosure (On Occasion) .............
2
24.33
08:00
392
Disclosure (On Occasion) .............
1
1
04:00
4
Recordkeeping (On Occasion) ......
1
1
24:00
24
Recordkeeping (On Occasion) ......
1
1
08:00
8
Reporting (On Occasion) ...............
1
1
01:00
1
Disclosure (Annual) .......................
15
1
00:30
8
Recordkeeping ...............................
(Annual) .........................................
15
1
00:30
8
Recordkeeping ...............................
(Annual) .........................................
15
1
00:30
8
Reporting (Annual) ........................
15
1
00:30
8
Recordkeeping (On Occasion) ......
2
1
20:00
40
Recordkeeping (On Occasion) ......
2
1
20:00
40
Recordkeeping (Annual) ................
12
1
00:15
3
Recordkeeping (Annual) ................
12
1
00:15
3
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Federal Register / Vol. 89, No. 89 / Tuesday, May 7, 2024 / Notices
SUMMARY OF ESTIMATED ANNUAL BURDEN—Continued
[OMB No. 3064–0084]
Number of
responses per
respondent
Number of
respondents
Time per
response
(HH:MM)
Information collection (IC)
(obligation to respond)
Type of burden
(frequency of response)
Annual burden
(hours)
20. Remittances: Implementation—
Policies & Procedures for Error Resolution and Retention of Documentation 12 CFR 1005.33(g), 12
CFR 1005.13 (Mandatory).
21. Remittances: Ongoing—Policies &
Procedures for Error Resolution and
Retention of Documentation 12 CFR
1005.33(g), 12 CFR 1005.13 (Mandatory).
22. Remittance Transfer Disclosures
12 CFR 1005.31 (Mandatory).
23. Error Resolution for Remittance
Transfers 12 CFR 1005.33 (Mandatory).
24. Remittance Transfers Scheduled
before date of transfer 12 CFR
1005.36 (Mandatory).
Recordkeeping (On Occasion) ......
1
1
08:00
8
Recordkeeping (Annual) ................
122
1
00:30
61
Disclosure (Monthly) ......................
122
12
08:00
11,712
Disclosure (Monthly) ......................
122
12
04:30
6,588
Disclosure (Annual) .......................
122
1
08:00
976
CFPB Regulation DD—12 CFR Part 1030
25. Account disclosures (Upon Request and New Accounts), 12 CFR
1030.4 (Mandatory).
26. Change in Terms, 12 CFR 1030.5
(Mandatory).
27. Prematurity (renewal) Notices to
Consumers, 12 CFR 1030.5 (Mandatory).
28. Disclosures on Periodic Statements, 12 CFR 1030.6 (Mandatory).
29. Advertising, 12 CFR 1030.8 (Mandatory).
Disclosure (On Occasion) .............
2,871
170
00:01.5
12,202
Disclosure (On Occasion) .............
2,871
380
00:01
18,183
Disclosure (On Occasion) .............
2,871
340
00:01
16,269
Disclosure (Monthly) ......................
2,871
12
04:00
137,808
Disclosure (Monthly) ......................
2,871
12
00:30
17,226
khammond on DSKJM1Z7X2PROD with NOTICES
Federal Reserve Board Regulation CC—12 CFR Part 229
30. Specific Availability Policy Disclosure (Initial Notice, Upon Request,
Upon Change in Policy), 12 CFR
229.16, 12 CFR 229.17, 12 CFR
229.18(d) (Mandatory).
Disclosure (On Occasion) .............
2,936
140
00:01
6,851
31. Case-by-case Hold Notice to Consumers, 12 CFR 229.16(c) (Mandatory).
32. Notice of Exceptions to Hold Policy, (12 CFR 229.13(g)) (Mandatory).
33. Notice posted where consumers
make deposits (Incl. ATMs), 12 CFR
229.18(b), 12 CFR 229.18(c) (Mandatory).
34. Notice to consumers of changes in
policy, 12 CFR 229.18(e) (Mandatory).
35. Annual notice of new ATMs, 12
CFR 229.18(e) (Mandatory).
36. Notice of nonpayment—notice to
depository bank, 12 CFR 229.33(a)
and 12 CFR 229.33(d) (Mandatory).
37. Response to consumer’s recredit
claim (validation, denial, reversal),
12 CFR 229.54(e) (Mandatory).
38. Bank’s claim against an indemnifying bank, 12 CFR 229.55 (Mandatory).
39. Consumer awareness disclosure,
12 CFR 229.57 (Mandatory).
Disclosure (On Occasion) .............
2,936
717
00:03
105,256
Disclosure (On Occasion) .............
2,936
247
00:03
36,260
Disclosure (On Occasion) .............
2,936
1
00:15
734
Disclosure (On Occasion) .............
2,936
170
00:01
8,319
Disclosure (Annual) .......................
2,936
1
05:00
14,680
Disclosure (On Occasion) .............
2,936
2211
00:01
108,192
Disclosure (On Occasion) .............
2,936
12
00:15
8,808
Reporting (On Occasion) ...............
2,936
5
00:15
3,670
Disclosure (On Occasion) .............
2,936
170
00:01
8,319
VerDate Sep<11>2014
15:55 May 06, 2024
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Fmt 4703
Sfmt 4703
E:\FR\FM\07MYN1.SGM
07MYN1
38142
Federal Register / Vol. 89, No. 89 / Tuesday, May 7, 2024 / Notices
SUMMARY OF ESTIMATED ANNUAL BURDEN—Continued
[OMB No. 3064–0084]
Number of
responses per
respondent
Number of
respondents
Time per
response
(HH:MM)
Information collection (IC)
(obligation to respond)
Type of burden
(frequency of response)
Annual burden
(hours)
40. Reg CC Consumer Burden—Expedited recredit claim notice, 12
CFR 229.54(a) and 12 CFR
229.54(b)(2) (Mandatory).
Reporting (On Occasion) ...............
2,936
8
00:15
5,872
Total Annual Burden (Hours): ......
........................................................
........................
........................
........................
546,946
Source: FDIC.
Note: The estimated annual IC time burden is the product, rounded to the nearest hour, of the estimated annual number of responses and the
estimated time per response for a given IC. The estimated annual number of responses is the product, rounded to the nearest whole number, of
the estimated annual number of respondents and the estimated annual number of responses per respondent. This methodology ensures the estimated annual burdens in the table are consistent with the values recorded in OMB’s consolidated information system.
General Description of Collection:
Regulations E & DD (Consumer
Financial Protection Bureau’s
Regulations) and Regulation CC (the
Federal Reserve’s Regulation) ensure
adequate disclosures regarding
accounts, including electronic fund
transfer services, availability of funds,
and fees and annual percentage yield for
deposit accounts. Generally, the
Regulation E disclosures are designed to
ensure consumers receive adequate
disclosure of basic terms, costs, and
rights relating to electronic fund transfer
(EFT) services provided to them so that
they can make informed decisions.
Institutions offering EFT services must
disclose to consumers certain
information, including: Initial and
updated EFT terms, transaction
information, the consumer’s potential
liability for unauthorized transfers, and
error resolution rights and procedures.
Like Regulation E, Regulation CC
contains consumer protection disclosure
requirements. Specifically, Regulation
CC requires depository institutions to
make funds deposited in transaction
accounts available within specified time
periods, disclose their availability
policies to customers, and begin
accruing interest on such deposits
promptly. The disclosures are intended
to alert customers that their ability to
use deposited funds may be delayed,
prevent unintentional (and costly)
overdrafts, and allow customers to
compare the policies of different
institutions before deciding at which
institution to deposit funds. Depository
institutions must also provide an
awareness disclosure regarding
substitute checks. The regulation also
requires notice to the depositary bank
and to a customer of nonpayment of a
check. Regulation DD also has similar
consumer protection disclosure
requirements that are intended to assist
consumers in comparing deposit
accounts offered by institutions,
principally through the disclosure of
fees, the annual percentage yield, and
other account terms. Regulation DD
requires depository institutions to
disclose yields, fees, and other terms
concerning deposit accounts to
consumers at account opening, upon
request, and when changes in terms
occur.
Depository institutions that provide
periodic statements are required to
include information about fees imposed,
interest earned, and the annual
percentage yield (APY) earned during
2021 Total
annual
burden
(hours)
Regulation
khammond on DSKJM1Z7X2PROD with NOTICES
those statement periods. It also contains
rules about advertising deposit
accounts. This Information Collection
Request (ICR) is being revised as a result
of the addition of five (5) new
information collection requirements
contained in CFPB’s Regulation E,
Subpart B. The estimated annual
burden, in hours, is the product of the
estimated number of respondents per
year, estimated number of responses per
respondent per year, and estimated
hours per response, as summarized in
the Table above. The total estimated
annual burden for this ICR is 546,946
hours, which is a decrease of 45,875
hours from our estimate in the 2021
memo (592,821 hours). This decrease
can be explained largely by a decline in
the number of FDIC-supervised IDIs
from December 31, 2020 (the period
used in the previous OMB renewal) to
December 31, 2023. This decrease is
attenuated by the inclusion of five ICs
pertaining to recordkeeping and
disclosure requirements associated with
remittance transfers in Subpart B of
CFPB Regulation E.
The estimated annual burden and
change in burden, broken down by each
Regulation (E, DD, and CC), is as
follows:
2024 Total
annual
burden
(hours)
Change
(hours)
CFPB Regulation E .....................................................................................................................
CFPB Regulation DD ...................................................................................................................
FRB Regulation CC .....................................................................................................................
28,950
223,594
340,277
38,297
201,688
306,961
+ 9,347
¥21,906
¥33,316
Total Annual Burden .............................................................................................................
592,821
546,946
¥45,875
Request for Comment
Comments are invited on: (a) Whether
the collections of information are
necessary for the proper performance of
the FDIC’s functions, including whether
VerDate Sep<11>2014
15:55 May 06, 2024
Jkt 262001
the information has practical utility; (b)
the accuracy of the estimates of the
burden of the information collections,
including the validity of the
methodology and assumptions used; (c)
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Fmt 4703
Sfmt 4703
ways to enhance the quality, utility, and
clarity of the information to be
collected; and (d) ways to minimize the
burden of the collections of information
on respondents, including through the
E:\FR\FM\07MYN1.SGM
07MYN1
38143
Federal Register / Vol. 89, No. 89 / Tuesday, May 7, 2024 / Notices
use of automated collection techniques
or other forms of information
technology. All comments will become
a matter of public record.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on May 1, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024–09856 Filed 5–6–24; 8:45 am]
BILLING CODE 6714–01–P
This list
(as updated from time to time in the
Federal Register) may be relied upon as
‘‘of record’’ notice that the Corporation
has been appointed receiver for
purposes of the statement of policy
published in the July 2, 1992, issue of
the Federal Register (57 FR 29491). For
further information concerning the
identification of any institutions which
have been placed in liquidation, please
visit the Corporation website at
www.fdic.gov/bank/individual/failed/
banklist.html, or contact the Chief,
Receivership Oversight at RO@fdic.gov
or at Division of Resolutions and
Receiverships, FDIC, 600 North Pearl
Street, Suite 700, Dallas, TX 75201.
SUPPLEMENTARY INFORMATION:
FEDERAL DEPOSIT INSURANCE
CORPORATION
Update to Notice of Financial
Institutions for Which the Federal
Deposit Insurance Corporation Has
Been Appointed Either Receiver,
Liquidator, or Manager
Federal Deposit Insurance
Corporation.
ACTION: Update listing of financial
institutions in liquidation.
AGENCY:
Notice is hereby given that
the Federal Deposit Insurance
Corporation (Corporation) has been
appointed the sole receiver for the
following financial institution effective
as of the Date Closed as indicated in the
listing.
SUMMARY:
INSTITUTIONS IN LIQUIDATION
[in alphabetical order]
FDIC
ref. No.
Bank name
City
State
10546 .......
Republic First Bank dba Republic Bank .................................
Philadelphia ............................................
PA .......
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on May 1, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024–09840 Filed 5–6–24; 8:45 am]
(12 U.S.C. 3333(b)). No action was taken
by the ASC.
James R. Park,
Executive Director.
[FR Doc. 2024–09882 Filed 5–6–24; 8:45 am]
BILLING CODE 6714–01–P
BILLING CODE 6700–01–P
FEDERAL FINANCIAL INSTITUTIONS
EXAMINATION COUNCIL
FEDERAL MINE SAFETY AND HEALTH
REVIEW COMMISSION
[Docket No. AS24–11]
Sunshine Act Meetings
Appraisal Subcommittee; Notice of
Meeting
TIME AND DATE:
Appraisal Subcommittee of the
Federal Financial Institutions
Examination Council.
ACTION: Notice of special closed
meeting.
khammond on DSKJM1Z7X2PROD with NOTICES
AGENCY:
Description: In accordance with
section 1104(b) of title XI of the
Financial Institutions Reform, Recovery,
and Enforcement Act of 1989, as
amended, notice is hereby given that the
Appraisal Subcommittee (ASC) met for
a Special Closed Meeting on this date.
Location: Virtual meeting via Webex.
Date: May 1, 2024.
Time: 11:15 a.m. ET.
Action and Discussion Item
Personnel Matter
The ASC convened a Special Closed
Meeting to discuss a personnel matter
pursuant to section 1104(b) of title XI
VerDate Sep<11>2014
15:55 May 06, 2024
Jkt 262001
10 a.m., Tuesday, May
14, 2024.
PLACE: The Richard V. Backley Hearing
Room, Room 511, 1331 Pennsylvania
Avenue NW, Suite 504 North,
Washington, DC 20004 (enter from F
Street entrance).
STATUS: Open.
MATTERS TO BE CONSIDERED: The
Commission will consider and act upon
the following in open session: Crimson
Oak Grove Resources, LLC, Docket Nos.
SE 2021–0112, et al. (Issues include
whether the Judge erred in denying
motions to settle based on his
conclusion that the Secretary of Labor
had failed to provide sufficient
information to support the vacating of
citations.)
Any person attending this meeting
who requires special accessibility
features and/or auxiliary aids, such as
sign language interpreters, must inform
the Commission in advance of those
PO 00000
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Fmt 4703
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Date closed
04/26/2024
needs. Subject to 29 CFR 2706.150(a)(3)
and 2706.160(d).
CONTACT PERSON FOR MORE INFO:
Emogene Johnson (202) 434–9935/(202)
708–9300 for TDD Relay/1–800–877–
8339 for toll free.
Phone Number for Listening to
Meeting: 1–(866) 236–7472. Passcode:
678–100.
Authority: 5 U.S.C. 552b.
Dated: May 3, 2024.
Sarah L. Stewart,
Deputy General Counsel.
[FR Doc. 2024–10089 Filed 5–3–24; 4:15 pm]
BILLING CODE 6735–01–P
FEDERAL MINE SAFETY AND HEALTH
REVIEW COMMISSION
Sunshine Act Meetings
TIME AND DATE:
2 p.m., Tuesday, May 14,
2024.
The Richard V. Backley Hearing
Room, Room 511, 1331 Pennsylvania
Avenue NW, Suite 504 North,
Washington, DC 20004 (enter from F
Street entrance).
STATUS: Open.
MATTERS TO BE CONSIDERED: The
Commission will consider and act upon
the following in open session: Knight
Hawk Coal, LLC, Docket No. LAKE
2021–0160 (Issues include whether the
Secretary of Labor has unreviewable
discretion to remove a significant and
substantial designation from a contested
PLACE:
E:\FR\FM\07MYN1.SGM
07MYN1
]]>Agencies
[Federal Register Volume 89, Number 89 (Tuesday, May 7, 2024)]
[Notices]
[Pages 38136-38143]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-09856]
=======================================================================
-----------------------------------------------------------------------
FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0082; -0084]
Agency Information Collection Activities: Proposed Collection
Renewal; Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The FDIC, as part of its obligations under the Paperwork
Reduction Act of 1995 (PRA), invites the general public and other
Federal agencies to take this opportunity to comment on the renewal of
the existing information collections described below (OMB Control No.
3064-0082; -0084).
DATES: Comments must be submitted on or before July 8, 2024.
ADDRESSES: Interested parties are invited to submit written comments to
the FDIC by any of the following methods:
Agency Website: https://www.fdic.gov/resources/regulations/federal-register-publications/.
Email: [email protected]. Include the name and number of
the collection in the subject line of the message.
Mail: Manny Cabeza (202-898-3767), Regulatory Counsel, MB-
3128, Federal Deposit Insurance Corporation, 550 17th Street NW,
Washington, DC 20429.
Hand Delivery: Comments may be hand-delivered to the guard
station at the rear of the 17th Street NW building (located on F Street
NW), on business days between 7:00 a.m. and 5:00 p.m.
All comments should refer to the relevant OMB control number. A
copy of the comments may also be submitted to the OMB desk officer for
the FDIC: Office of Information and Regulatory Affairs, Office of
Management and Budget, New Executive Office Building, Washington, DC
20503.
FOR FURTHER INFORMATION CONTACT: Manny Cabeza, Regulatory Counsel, 202-
898-3767, [email protected], MB-3128, Federal Deposit Insurance
Corporation, 550 17th Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
Proposal to renew the following currently approved collection of
information:
1. Title: Recordkeeping, Disclosure and Reporting Requirements in
Connection with Regulation Z.
OMB Number: 3064-0082.
Form Number: None.
Affected Public: FDIC-Supervised Institutions.
Burden Estimate:
Table 1--Summary of Estimated Annual Implementation Burden
[OMB No. 3064-0082]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Number of Time per
Information collection (IC) Type of burden (frequency of response) Number of responses per response Annual burden
(obligation to respond) respondents respondent (HH:MM) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Open-End Credit Products:
Not Home-Secured Open-End Credit Plans.....................................................................................................
[cir] Credit and Charge Card Provisions.........................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
Timely Settlement of Estate Debts Recordkeeping (On Occasion)....................... 8 1 08:00 64
Written Policies and Procedures, 12
CFR 1026.11(c)(1) (Mandatory).
Ability to Pay Written Policies and Recordkeeping (On Occasion)....................... 8 1 08:00 64
Procedures, 12 CFR 1026.51(a)(ii)
(Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Mortgage Products (Open and Closed-End):
Valuation Independence.....................................................................................................................
[cir] Mandatory Reporting.......................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
Implementation of Policies and Recordkeeping (On Occasion)....................... 8 1 20:00 160
Procedures, 12 CFR 1026.42(g)
(Mandatory).
Total Annual Implementation .................................................. .............. .............. .............. 288
Burden (Hours).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Source: FDIC.
Note: The estimated annual IC time burden is the product, rounded to the nearest hour, of the estimated annual number of responses and the estimated
time per response for a given IC. The estimated annual number of responses is the product, rounded to the nearest whole number, of the estimated
annual number of respondents and the estimated annual number of responses per respondent. This methodology ensures the estimated annual burdens in the
table are consistent with the values recorded in OMB's consolidated information system.
Table 2--Summary of Estimated Annual Ongoing Burden
[OMB No. 3064-0082]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Number of Time per
Information collection (IC) Type of burden (frequency of response) Number of responses per response Annual burden
(obligation to respond) respondents respondent (HH:MM) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Open-End Credit Products:
Not Home-Secured Open-End Credit Plans.....................................................................................................
[cir] General Disclosure Rules for Not Home-Secured Open-End Credit Plans.......................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 38137]]
1. Credit and Charge Card Disclosure (Annual).............................. 478 1 08:00 3,824
Applications and Solicitations, 12
CFR 1026.60 (Mandatory).
2. Account Opening Disclosures, 12 Disclosure (Annual).............................. 478 1 12:00 5,736
CFR 1026.6(b) (Mandatory).
3. Periodic Statements, 12 CFR Disclosure (Monthly)............................. 478 12 08:00 45,888
1026.7(b) (Mandatory).
4. Annual Statement of Billing Disclosure (Annual).............................. 478 1 08:00 3,824
Rights, 12 CFR 1026.9(a)(1)
(Mandatory).
5. Alternative Summary Statement of Disclosure (Monthly)............................. 478 12 08:00 45,888
Billing Rights, 12 CFR 1026.9(a)(2)
(Voluntary).
6. Change in Terms Disclosures, 12 Disclosure (Annual).............................. 478 1 08:00 3,824
CFR 1026.9(b) through (h)
(Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
[cir] Credit and Charge Card Provisions.........................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
7. Timely Settlement of Estate Debts, Disclosure (On Occasion)......................... 478 61 00:05 2,430
12 CFR 1026.11(c)(2) (Mandatory).
8. Ability to Pay, 12 CFR 1026.51 Recordkeeping (Annual)........................... 478 1 12:00 5,736
(Mandatory).
9. College Student Credit Annual Reporting (Annual)............................... 478 1 08:00 3,824
Report, 12 CFR 1026.57(d)
(Mandatory).
10. Submission of Credit Card Reporting (Quarterly)............................ 478 4 03:00 5,736
Agreements, 12 CFR 1026.58(c)
(Mandatory).
11. Internet Posting of Credit Card Disclosure (Quarterly)........................... 478 4 06:00 11,472
Agreements, 12 CFR 1026.58(d)
(Mandatory).
12. Individual Credit Card Disclosure (On Occasion)......................... 478 14 00:15 1,673
Agreements, 12 CFR 1026.58(e)
(Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Home Equity Open-End Credit Plans (HELOC)..................................................................................................
[cir] General Disclosure Rules for HELOC's......................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
13. Application Disclosures, 12 CFR Disclosure (Annual).............................. 2,189 1 12:00 26,268
1026.40 (Mandatory).
14. Account Opening Disclosures, 12 Disclosure (Annual).............................. 2,189 1 12:00 26,268
CFR 1026.6(a) (Mandatory).
15. Periodic Statements, 12 CFR Disclosure (Annual).............................. 2,189 1 08:00 17,512
1026.7(a) (Mandatory).
16. Annual Statement of Billing Disclosure (Annual).............................. 2,189 1 08:00 17,512
Rights, 12 CFR 1026.9(a)(1)
(Mandatory).
17. Alternative Summary Statement of Disclosure (Annual).............................. 2,189 1 08:00 17,512
Billing Rights, 12 CFR 1026.9(a)(2)
(Mandatory).
18. Change in Terms Disclosures, 12 Disclosure (Annual).............................. 2,189 1 08:00 17,512
CFR 1026.9(b) through (h)
(Mandatory).
19. Notice to Restrict Credit, 12 CFR Disclosure (Annual).............................. 2,189 1 02:00 4,378
1026.9(c)(1)(iii); 1026.40(f)(3)(i)
and (vi) (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
All Open-End Credit Plans..................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
20. Error Resolution, 12 CFR 1026.13 Disclosure (On Occasion)......................... 2,265 937 00:01 35,372
(Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Closed-End Credit Products:
General Rules for Closed-End Credit........................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
21. Other than Real Estate, Home- Disclosure (Annual).............................. 2,551 1 12:00 30,612
Secured and Private Education Loans,
12 CFR 1026.17 and 1026.18
(Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Closed-End Mortgages.......................................................................................................................
[[Page 38138]]
[cir] Application and Consummation..............................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
22. Loan Estimate, 12 CFR 1026.19(e); Disclosure (Annual).............................. 2,815 1 08:00 22,520
and 1026.37 (Mandatory).
23. Closing Disclosure, 12 CFR Disclosure (Annual).............................. 2,815 1 08:00 22,520
1026.19(f); and 1026.38 (Mandatory).
24. Record Retention of Disclosures, Recordkeeping (Annual)........................... 2,815 1 00:18 845
12 CFR 1026.19(e), (f); 1026.37; and
1026.38 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
[cir] Post-Consummation Disclosures.............................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
25. Interest Rate and Payment Disclosure (Annual).............................. 2,815 1 40:00 112,600
Summary, 12 CFR 1026.18(s)
(Mandatory).
26. No Guarantee to Refinance Disclosure (Annual).............................. 2,815 1 08:00 22,520
Statement, 12 CFR 1026.18(t)
(Mandatory).
27. ARMs Rate Adjustments with Disclosure (Annual).............................. 2,815 1 01:30 4,223
Payment Change Disclosures, 12 CFR
1026.20(c) (Mandatory).
28. Initial Rate Adjustment Disclosure (Annual).............................. 2,815 1 02:00 5,630
Disclosure for ARMs, 12 CFR
1026.20(d) (Mandatory).
29. Escrow Cancellation Notice, 12 Disclosure (Annual).............................. 2,815 1 08:00 22,520
CFR 1026.20(e) (Mandatory).
30. Periodic Statements, 12 CFR Disclosure (Annual).............................. 2,815 1 08:00 22,520
1026.41 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
[cir] Ability to Repay Requirements.............................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
31. Minimum Standards, 12 CFR Recordkeeping (On Occasion)...................... 2,815 1166 00:15 820,573
1026.43(c) through (f) (Mandatory).
32. Prepayment Penalties, 12 CFR Disclosure (On Occasion)......................... 2,815 45 00:12 25,335
1026.43(g) (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Mortgage Products (Open and Closed-End):
Mortgage Servicing Disclosures.............................................................................................................
[cir] Payoff Statements.........................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
33. Payoff Statements, 12 CFR Disclosure (Annual).............................. 2,829 1 08:00 22,632
1026.36(c)(3) (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
[cir] Notice of Sale or Transfer................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
34. Notice of Sale or Transfer, 12 Disclosure (Annual).............................. 2,829 1 08:00 22,632
CFR 1026.39 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Valuation Independence.....................................................................................................................
[cir] Mandatory Reporting.......................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
35. Reporting Appraiser Reporting (On Occasion).......................... 2,829 1 00:10 472
Noncompliance, 12 CFR 1026.42(g)
(Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Reverse and High-Cost Mortgages:
Reverse Mortgages..........................................................................................................................
[cir] Reverse Mortgage Disclosures..............................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
36. Reverse Mortgage Disclosures, 12 Disclosure (Annual).............................. 1 1 24:00 24
CFR 1026.31(c)(2) and 1026.33
(Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
High-Cost Mortgage Loans...................................................................................................................
[cir] HOEPA Disclosures and Notice..............................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
37. HOEPA Disclosures and Notice, 12 Disclosure (Annual).............................. 2,815 1 00:14 657
CFR 1026.32(c) (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Private Education Loans:
Initial Disclosures........................................................................................................................
[[Page 38139]]
[cir] Application and Solicitation Disclosures..................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
38. Application or Solicitation Disclosure (Annual).............................. 2,755 1 60:00 165,300
Disclosures, 12 CFR 1026.47(a)
(Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
[cir] Approval Disclosures......................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
39. Approval Disclosures, 12 CFR Disclosure (Annual).............................. 2,755 1 60:00 165,300
1026.47(b) (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
[cir] Final Disclosures.........................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
40. Final Disclosures, 12 CFR Disclosure (Annual).............................. 2,755 1 60:00 165,300
1026.47(c) (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Advertising Rules
All Credit Types...........................................................................................................................
[cir] Open-End Credit...........................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
41. Open-End Credit, 12 CFR 1026.16 Disclosure (Annual).............................. 2,265 1 00:20 755
(Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
[cir] Closed-End Credit.........................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
42. Closed-End Credit, 12 CFR 1026.24 Disclosure (Annual).............................. 2,856 1 00:20 952
(Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Record Retention:
Evidence of Compliance.....................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
43. Regulation Z in General, 12 CFR Recordkeeping (Annual)........................... 2,857 1 00:18 857
1026.25 (Mandatory).
---------------------------------------------------------------
Total Annual Ongoing Burden ................................................. .............. .............. .............. 1,959,488
(Hours).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Source: FDIC.
Note: The estimated annual IC time burden is the product, rounded to the nearest hour, of the estimated annual number of responses and the estimated
time per response for a given IC. The estimated annual number of responses is the product, rounded to the nearest whole number, of the estimated
annual number of respondents and the estimated annual number of responses per respondent. This methodology ensures the estimated annual burdens in the
table are consistent with the values recorded in OMB's consolidated information system.
General Description of Collection: Consumer Financial Protection
Bureau (CFPB) Regulation Z--12 CFR 1026 implements the Truth in Lending
Act (15 U.S.C. 1601, et seq.) and certain provisions of the Real Estate
Settlement Procedures Act (12 U.S.C. 2601 et seq.). This regulation
prescribes uniform methods for computing the cost of credit, the
disclosure of credit terms and costs, the resolution of errors and
imposes various other recordkeeping, reporting and disclosure
requirements. The FDIC has enforcement authority on the requirements of
the CFPB's Regulation over the financial institutions it supervises.
This information collection captures the recordkeeping, reporting, and
disclosure burdens of Regulation Z on FDIC-supervised institutions. To
arrive at the estimated annual burden the FDIC assessed the number of
potential respondents to the information collection by identifying the
number of FDIC-supervised institutions who reported activity that would
be within the scope of the information collection requirements
according to data from the most recent Call Report. Additionally, the
FDIC estimated the frequency of responses to the recordkeeping,
reporting, or disclosure requirements by assessing the dollar volume of
activity that would be within the scope of the information collection.
In some instances, the FDIC used information provided by other sources
to estimate the magnitude and scope of activity attributable to FDIC-
supervised institutions when more immediate information sources did not
exist.
The estimated annual burden, in hours, is the product of the
estimated number of respondents per year, estimated number of responses
per respondent per year, and estimated hours per response, as
summarized in Table 1 for the implementation burden and in Table 2 for
the ongoing burden, below. The total estimated annual burden for this
Information Collection Request (ICR) is 1,959,766 hours (288 hours
estimated implementation burden, plus 1,959,488 hours estimated ongoing
burden), which is a decrease of 71,838 hours from the 2021 estimate. As
the estimated time per response remained the same from the 2021 ICR,
the change in the total estimated annual burden hours is attributable
to the decrease in the estimated number of respondents in Table 2.
2. Title: Account Based Disclosures in Connection with Consumer
Financial Protection Bureau Regulations E and DD and Federal Reserve
Regulation CC.
OMB Number: 3064-0084.
Form Number: None.
[[Page 38140]]
Affected Public: FDIC-Supervised Institutions.
Burden Estimate:
Summary of Estimated Annual Burden
[OMB No. 3064-0084]
----------------------------------------------------------------------------------------------------------------
Type of burden Number of Time per
Information collection (IC) (frequency of Number of responses per response Annual burden
(obligation to respond) response) respondents respondent (HH:MM) (hours)
----------------------------------------------------------------------------------------------------------------
CFPB Regulation E--12 CFR Part 1005
----------------------------------------------------------------------------------------------------------------
1. Initial Disclosures: Disclosure (On 2,871 83 00:01.5 5,957
General, 12 CFR 1005.7(b) Occasion).
(Mandatory).
2. Initial Disclosures: Disclosure (On 6 5,000 00:01.5 750
Payroll Cards, 12 CFR Occasion).
1005.18(c)(1) (Mandatory).
3. Initial Disclosures: Change Disclosure (On 2,871 113 00:01 5,407
in Terms, 12 CFR 1005.8(a) Occasion).
(Mandatory).
4. Error Resolution Rules: Disclosure (On 2,871 3 00:30 4,307
General, 12 CFR 1005.8(b), 12 Occasion).
CFR 1005.11 (Mandatory).
5. Error Resolution Rules: Disclosure (On 6 8 00:30 24
Payroll Cards, 12 CFR 1005.18 Occasion).
(Mandatory).
6. Prepaid Accounts: New Disclosure (On 2 24.33 40:00 1,960
Products--Short Form Occasion).
Disclosure, 12 CFR
1005.18(b)(2), 12 CFR
1005.15(c) (Mandatory).
7. Prepaid Accounts: New Disclosure (On 2 24.33 08:00 392
Products--Long Form Occasion).
Disclosure, 12 CFR
1005.18(b)(4), 12 CFR
1005.15(c) (Mandatory).
8. Prepaid Accounts: Disclosure (On 1 1 04:00 4
Implementation--Short Form Occasion).
Additional Fee Type
Disclosure, 12 CFR
1005.18(b)(2)(ix) (Mandatory).
9. Prepaid Accounts: Recordkeeping 1 1 24:00 24
Implementation--Access to (On Occasion).
Prepaid Account Information,
12 CFR 1005.18(c)(5), 12 CFR
1005.15(d) (Mandatory).
10. Prepaid Accounts: Recordkeeping 1 1 08:00 8
Implementation--Error (On Occasion).
Resolution, 12 CFR
1005.18(e)(2), 12 CFR 1005.11
(Mandatory).
11. Prepaid Accounts: Reporting (On 1 1 01:00 1
Implementation--Submission of Occasion).
Agreements, 12 CFR 1005.19(b)
(Mandatory).
12. Prepaid Accounts: Ongoing-- Disclosure 15 1 00:30 8
Short Form Additional Fee (Annual).
Type Disclosure, 12 CFR
1005.18(b)(2)(ix) (Mandatory).
13. Prepaid Accounts: Ongoing-- Recordkeeping... 15 1 00:30 8
Access to Prepaid Account (Annual)........
Information, 12 CFR
1005.18(c)(5), 12 CFR
1005.15(d) (Mandatory).
14. Prepaid Accounts: Ongoing-- Recordkeeping... 15 1 00:30 8
Error Resolution, 12 CFR (Annual)........
1005.18(e)(2), 12 CFR 1005.11
(Mandatory).
15. Prepaid Accounts: Ongoing-- Reporting 15 1 00:30 8
Submission of Agreements, 12 (Annual).
CFR 1005.19(b) (Mandatory).
16. Gift Cards/Certificates: Recordkeeping 2 1 20:00 40
Implementation--Exclusion (On Occasion).
Policies and Procedures, 12
CFR 1005.20(b)(2) (Mandatory).
17. Gift Cards/Certificates: Recordkeeping 2 1 20:00 40
Implementation--Policies & (On Occasion).
Procedures 12 CFR
1005.20(e)(1) (Mandatory).
18. Gift Cards/Certificates: Recordkeeping 12 1 00:15 3
Ongoing--Exclusion Policies (Annual).
and Procedures, 12 CFR
1005.20(b)(2) (Mandatory).
19. Gift Cards/Certificates: Recordkeeping 12 1 00:15 3
Ongoing--Policies & (Annual).
Procedures 12 CFR
1005.20(e)(1) (Mandatory).
[[Page 38141]]
20. Remittances: Recordkeeping 1 1 08:00 8
Implementation--Policies & (On Occasion).
Procedures for Error
Resolution and Retention of
Documentation 12 CFR
1005.33(g), 12 CFR 1005.13
(Mandatory).
21. Remittances: Ongoing-- Recordkeeping 122 1 00:30 61
Policies & Procedures for (Annual).
Error Resolution and
Retention of Documentation 12
CFR 1005.33(g), 12 CFR
1005.13 (Mandatory).
22. Remittance Transfer Disclosure 122 12 08:00 11,712
Disclosures 12 CFR 1005.31 (Monthly).
(Mandatory).
23. Error Resolution for Disclosure 122 12 04:30 6,588
Remittance Transfers 12 CFR (Monthly).
1005.33 (Mandatory).
24. Remittance Transfers Disclosure 122 1 08:00 976
Scheduled before date of (Annual).
transfer 12 CFR 1005.36
(Mandatory).
----------------------------------------------------------------------------------------------------------------
CFPB Regulation DD--12 CFR Part 1030
----------------------------------------------------------------------------------------------------------------
25. Account disclosures (Upon Disclosure (On 2,871 170 00:01.5 12,202
Request and New Accounts), 12 Occasion).
CFR 1030.4 (Mandatory).
26. Change in Terms, 12 CFR Disclosure (On 2,871 380 00:01 18,183
1030.5 (Mandatory). Occasion).
27. Prematurity (renewal) Disclosure (On 2,871 340 00:01 16,269
Notices to Consumers, 12 CFR Occasion).
1030.5 (Mandatory).
28. Disclosures on Periodic Disclosure 2,871 12 04:00 137,808
Statements, 12 CFR 1030.6 (Monthly).
(Mandatory).
29. Advertising, 12 CFR 1030.8 Disclosure 2,871 12 00:30 17,226
(Mandatory). (Monthly).
----------------------------------------------------------------------------------------------------------------
Federal Reserve Board Regulation CC--12 CFR Part 229
----------------------------------------------------------------------------------------------------------------
30. Specific Availability Disclosure (On 2,936 140 00:01 6,851
Policy Disclosure (Initial Occasion).
Notice, Upon Request, Upon
Change in Policy), 12 CFR
229.16, 12 CFR 229.17, 12 CFR
229.18(d) (Mandatory).
----------------------------------------------------------------------------------------------------------------
31. Case-by-case Hold Notice Disclosure (On 2,936 717 00:03 105,256
to Consumers, 12 CFR Occasion).
229.16(c) (Mandatory).
32. Notice of Exceptions to Disclosure (On 2,936 247 00:03 36,260
Hold Policy, (12 CFR Occasion).
229.13(g)) (Mandatory).
33. Notice posted where Disclosure (On 2,936 1 00:15 734
consumers make deposits Occasion).
(Incl. ATMs), 12 CFR
229.18(b), 12 CFR 229.18(c)
(Mandatory).
34. Notice to consumers of Disclosure (On 2,936 170 00:01 8,319
changes in policy, 12 CFR Occasion).
229.18(e) (Mandatory).
35. Annual notice of new ATMs, Disclosure 2,936 1 05:00 14,680
12 CFR 229.18(e) (Mandatory). (Annual).
36. Notice of nonpayment-- Disclosure (On 2,936 2211 00:01 108,192
notice to depository bank, 12 Occasion).
CFR 229.33(a) and 12 CFR
229.33(d) (Mandatory).
37. Response to consumer's Disclosure (On 2,936 12 00:15 8,808
recredit claim (validation, Occasion).
denial, reversal), 12 CFR
229.54(e) (Mandatory).
38. Bank's claim against an Reporting (On 2,936 5 00:15 3,670
indemnifying bank, 12 CFR Occasion).
229.55 (Mandatory).
39. Consumer awareness Disclosure (On 2,936 170 00:01 8,319
disclosure, 12 CFR 229.57 Occasion).
(Mandatory).
[[Page 38142]]
40. Reg CC Consumer Burden-- Reporting (On 2,936 8 00:15 5,872
Expedited recredit claim Occasion).
notice, 12 CFR 229.54(a) and
12 CFR 229.54(b)(2)
(Mandatory).
---------------------------------------------------------------
Total Annual Burden ................ .............. .............. .............. 546,946
(Hours):.
----------------------------------------------------------------------------------------------------------------
Source: FDIC.
Note: The estimated annual IC time burden is the product, rounded to the nearest hour, of the estimated annual
number of responses and the estimated time per response for a given IC. The estimated annual number of
responses is the product, rounded to the nearest whole number, of the estimated annual number of respondents
and the estimated annual number of responses per respondent. This methodology ensures the estimated annual
burdens in the table are consistent with the values recorded in OMB's consolidated information system.
General Description of Collection: Regulations E & DD (Consumer
Financial Protection Bureau's Regulations) and Regulation CC (the
Federal Reserve's Regulation) ensure adequate disclosures regarding
accounts, including electronic fund transfer services, availability of
funds, and fees and annual percentage yield for deposit accounts.
Generally, the Regulation E disclosures are designed to ensure
consumers receive adequate disclosure of basic terms, costs, and rights
relating to electronic fund transfer (EFT) services provided to them so
that they can make informed decisions. Institutions offering EFT
services must disclose to consumers certain information, including:
Initial and updated EFT terms, transaction information, the consumer's
potential liability for unauthorized transfers, and error resolution
rights and procedures. Like Regulation E, Regulation CC contains
consumer protection disclosure requirements. Specifically, Regulation
CC requires depository institutions to make funds deposited in
transaction accounts available within specified time periods, disclose
their availability policies to customers, and begin accruing interest
on such deposits promptly. The disclosures are intended to alert
customers that their ability to use deposited funds may be delayed,
prevent unintentional (and costly) overdrafts, and allow customers to
compare the policies of different institutions before deciding at which
institution to deposit funds. Depository institutions must also provide
an awareness disclosure regarding substitute checks. The regulation
also requires notice to the depositary bank and to a customer of
nonpayment of a check. Regulation DD also has similar consumer
protection disclosure requirements that are intended to assist
consumers in comparing deposit accounts offered by institutions,
principally through the disclosure of fees, the annual percentage
yield, and other account terms. Regulation DD requires depository
institutions to disclose yields, fees, and other terms concerning
deposit accounts to consumers at account opening, upon request, and
when changes in terms occur.
Depository institutions that provide periodic statements are
required to include information about fees imposed, interest earned,
and the annual percentage yield (APY) earned during those statement
periods. It also contains rules about advertising deposit accounts.
This Information Collection Request (ICR) is being revised as a result
of the addition of five (5) new information collection requirements
contained in CFPB's Regulation E, Subpart B. The estimated annual
burden, in hours, is the product of the estimated number of respondents
per year, estimated number of responses per respondent per year, and
estimated hours per response, as summarized in the Table above. The
total estimated annual burden for this ICR is 546,946 hours, which is a
decrease of 45,875 hours from our estimate in the 2021 memo (592,821
hours). This decrease can be explained largely by a decline in the
number of FDIC-supervised IDIs from December 31, 2020 (the period used
in the previous OMB renewal) to December 31, 2023. This decrease is
attenuated by the inclusion of five ICs pertaining to recordkeeping and
disclosure requirements associated with remittance transfers in Subpart
B of CFPB Regulation E.
The estimated annual burden and change in burden, broken down by
each Regulation (E, DD, and CC), is as follows:
----------------------------------------------------------------------------------------------------------------
2021 Total 2024 Total
Regulation annual burden annual burden Change (hours)
(hours) (hours)
----------------------------------------------------------------------------------------------------------------
CFPB Regulation E............................................... 28,950 38,297 + 9,347
CFPB Regulation DD.............................................. 223,594 201,688 -21,906
FRB Regulation CC............................................... 340,277 306,961 -33,316
-----------------------------------------------
Total Annual Burden......................................... 592,821 546,946 -45,875
----------------------------------------------------------------------------------------------------------------
Request for Comment
Comments are invited on: (a) Whether the collections of information
are necessary for the proper performance of the FDIC's functions,
including whether the information has practical utility; (b) the
accuracy of the estimates of the burden of the information collections,
including the validity of the methodology and assumptions used; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; and (d) ways to minimize the burden of the collections of
information on respondents, including through the
[[Page 38143]]
use of automated collection techniques or other forms of information
technology. All comments will become a matter of public record.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on May 1, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-09856 Filed 5-6-24; 8:45 am]
BILLING CODE 6714-01-P
