Agency Information Collection Activities: Information Collection Renewal; Comment Request; Covered Savings Associations Notice, 9355-9356 [2025-02481]

Agencies

• Office of the Comptroller of the Currency
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 90, Number 27 (Tuesday, February 11, 2025)]
[Notices]
[Pages 9355-9356]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-02481]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Covered Savings Associations Notice

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

ACTION: Notice and request for comment.

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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites comment on a continuing information 
collection, as required by the Paperwork Reduction Act of 1995 (PRA). 
In accordance with the requirements of the PRA, the OCC may not conduct 
or sponsor, and the respondent is not required to respond to, an 
information collection unless it displays a currently valid Office of 
Management and Budget (OMB) control number. The OCC is soliciting 
comment concerning the renewal of its information collection titled, 
``Covered Savings Associations Notice.''

DATES: Comments must be received by April 14, 2025.

ADDRESSES: Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:
     Email: [email protected].
     Mail: Chief Counsel's Office, Attention: Comment 
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0341, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
     Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
     Fax: (571) 293-4835.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0341'' in your comment. In general, the OCC will publish 
comments on www.reginfo.gov without change, including any business or 
personal information provided, such as name and address information, 
email addresses, or phone numbers. Comments received, including 
attachments and other supporting materials, are part of the public 
record and subject to public disclosure. Do not include any information 
in your comment or supporting materials that you consider confidential 
or inappropriate for public disclosure.
    Following the close of this notice's 60-day comment period, the OCC 
will publish a second notice with a 30-day comment period. You may 
review comments and other related materials that pertain to this 
information collection beginning on the date of publication of the 
second notice for this collection by the method set forth in the next 
bullet.
     Viewing Comments Electronically: Go to www.reginfo.gov. 
Hover over the ``Information Collection Review'' tab and click on 
``Information Collection Review'' from the drop-down menu. From the 
``Currently under Review'' drop-down menu, select ``Department of 
Treasury'' and then click ``submit.'' This information collection can 
be located by searching OMB control number ``1557-0341'' or ``Covered 
Savings Associations Notice.'' Upon finding the appropriate information 
collection, click on the related ``ICR Reference Number.'' On the next 
screen, select ``View Supporting Statement and Other Documents'' and 
then click on the link to any comment listed at the bottom of the 
screen.
     For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer, 
(202) 649-5490, Chief Counsel's Office, Office of the Comptroller of 
the Currency, 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: Under the PRA (44 U.S.C. 3501 et seq.), 
Federal agencies must obtain approval from the OMB for each collection 
of information that they conduct or sponsor. ``Collection of 
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to 
include agency requests or requirements that members of the public 
submit reports, keep records, or provide information to a third party. 
Section 3506(c)(2)(A) of title 44 generally requires Federal agencies 
to provide a 60-day notice in the Federal Register concerning each 
proposed collection of information, including each proposed extension 
of an existing collection of information, before submitting the 
collection to OMB for approval. To comply with this requirement, the 
OCC is publishing notice of the renewal/revision of this collection.
    Title: Covered Savings Associations Notice.
    OMB Control No.: 1557-0341.
    Type of Review: Regular.
    Affected Public: Businesses or other for-profit.
    Description: The Home Owners' Loan Act (HOLA), as amended by the 
Economic Growth, Regulatory Relief, and Consumer Protection Act 
(EGRRCPA), allows a Federal savings association (FSA) with total 
consolidated assets of $20 billion or less, as of December 31, 2017, to 
elect to operate as a covered savings association (CSA). This section 
of HOLA requires the OCC to issue rules that, among other things, 
establish streamlined standards and procedures for FSA elections to 
operate as CSAs and clarify the requirements for the treatment of a 
CSA. A CSA has the same rights and privileges as a national bank and is 
subject to the same duties and restrictions as a national bank.
    Twelve CFR part 101 allows FSAs to elect national bank powers and 
operate as CSAs. An FSA seeking to operate as a CSA is required under 
12 CFR 101.3(a) to submit a notice making a CSA election to the OCC 
that: (1) is signed by a duly authorized officer of the FSA; and (2) 
identifies and describes any nonconforming subsidiaries, assets, or 
activities that the FSA operates, holds, or conducts at the time it 
submits its notice.
    Under 12 CFR 101.5(a), the OCC may require a CSA to submit a plan 
to divest, conform, or discontinue a nonconforming subsidiary, asset, 
or activity.
    A CSA may submit a notice to terminate its election to operate as a 
CSA under 12 CFR 101.6 using procedures similar to those for an 
election. In addition, after a period of five years, an FSA that has 
terminated its election to operate as a CSA may submit a notice under 
12 CFR 101.7 to

[[Page 9356]]

reelect using the same procedures used for its original election.
    Estimated Frequency of Response: On occasion.
    Estimated Number of Respondents: 259.
    Estimated Total Annual Burden: 284 hours.
    Comments submitted in response to this notice will be summarized 
and included in the request for OMB approval. All comments will become 
a matter of public record. Comments are invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the OCC, including whether the 
information has practical utility;
    (b) The accuracy of the OCC's estimate of the burden of the 
collection of information;
    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    (d) Ways to minimize the burden of the collection on respondents, 
including through the use of automated collection techniques or other 
forms of information technology; and
    (e) Estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

Patrick T. Tierney,
Assistant Director, Office of the Comptroller of the Currency.
[FR Doc. 2025-02481 Filed 2-10-25; 8:45 am]
BILLING CODE 4810-33-P