Federal Deposit Insurance Corporation 2007 – Federal Register Recent Federal Regulation Documents

Statement of Policy for Section 19 of the Federal Deposit Insurance Act
Document Number: E7-25128
Type: Notice
Date: 2007-12-28
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
On October 13, 2006, Section 19 of the Federal Deposit Insurance Act was modified to address institution-affiliated parties participating in the affairs of Bank Holding Companies and Savings and Loan Holding Companies. The FDIC is introducing a footnote to its Statement of Policy for Section 19 of the Federal Deposit Insurance Act (``SOP'') that will provide the public with a better understanding of the FDIC's scope given the Federal Reserve System's and Office of Thrift Supervision's new authority under Section 19. The FDIC is not seeking comment on the footnote clarifying the SOP, and the change is effective upon publication in the Federal Register.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: E7-24963
Type: Notice
Date: 2007-12-27
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In accordance with requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. 3501, et seq.), the FDIC hereby gives notice that it is submitting to the Office of Management and Budget (OMB) a request for OMB review and approval of the new information collection described below. The collection would provide information on the efforts of FDIC- insured depository institutions to meet the financial services needs of individuals who do not have an account at a bank or credit union (the ``unbanked''), and individuals who have a deposit account but also rely on alternative, non-bank financial service providers for transaction or credit services (the ``underbanked'') features and effectiveness of small-dollar programs offered by FDIC-insured financial institutions.
Community Reinvestment Act Regulations
Document Number: E7-24719
Type: Rule
Date: 2007-12-21
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The OCC, the Board, the FDIC, and the OTS (collectively, the ``agencies'') are amending their Community Reinvestment Act (CRA) regulations to adjust the asset-size thresholds used to define ``small bank'' or ``small savings association'' and ``intermediate small bank'' or ``intermediate small savings association.'' As required by the CRA regulations, the adjustment to the threshold amount is based on the annual percentage change in the Consumer Price Index. The agencies are also correcting a paragraph heading that is inaccurate as a result of annual revisions to the small institution threshold.
Sunshine Act; Notice of Agency Meeting
Document Number: E7-24463
Type: Notice
Date: 2007-12-18
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: E7-24462
Type: Notice
Date: 2007-12-18
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Interagency Notice of Proposed Rulemaking: Procedures To Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies Under Section 312 of the Fair and Accurate Credit Transactions Act
Document Number: E7-23549
Type: Proposed Rule
Date: 2007-12-13
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Federal Trade Commission, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The OCC, Board, FDIC, OTS, NCUA, and FTC (Agencies) are publishing for comment proposed regulations and guidelines to implement the accuracy and integrity provisions in section 312 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act).\1\ The proposed regulations and guidelines would implement the requirement that the Agencies issue guidelines for use by furnishers regarding the accuracy and integrity of the information about consumers that they furnish to consumer reporting agencies and prescribe regulations requiring furnishers to establish reasonable policies and procedures for implementing the guidelines. The Agencies also are publishing for comment proposed regulations to implement the direct dispute provisions in section 312. The proposed regulations would implement the requirement that the Agencies issue regulations identifying the circumstances under which a furnisher must reinvestigate disputes about the accuracy of information contained in a consumer report based on a direct request from a consumer.
Notice of Agency Meeting
Document Number: E7-23993
Type: Notice
Date: 2007-12-12
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Agency Information Collection Activities: Submission for OMB Review; Joint Comment Request
Document Number: 07-5998
Type: Notice
Date: 2007-12-10
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Federal Trade Commission, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
Pursuant to the Paperwork Reduction Act, the OCC, FDIC, OTS, NCUA, and FTC are submitting for Office of Management and Budget (OMB) review the information collection associated with a proposed study that will use a written survey to be completed by financial institutions and other persons who are creditors or users of consumer reports. The Board has approved this information collection under its delegated authority from OMB. The Agencies will use the Survey responses to prepare the initial report to the Congress (the Report) on information sharing practices by financial institutions, creditors, or users of consumer reports with their affiliates. The Agencies are statutorily required to jointly submit the Report with any recommendations for legislative or regulatory action. To conduct the Survey, the OCC, FDIC, OTS, NCUA, and FTC first seek additional public comment regarding this notice, which is the second of two notices required by the PRA, and will seek OMB review of, and clearance for, the collection of information discussed herein.
Risk-Based Capital Standards: Advanced Capital Adequacy Framework - Basel II
Document Number: 07-5729
Type: Rule
Date: 2007-12-07
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) (collectively, the agencies) are adopting a new risk-based capital adequacy framework that requires some and permits other qualifying banks \1\ to use an internal ratings-based approach to calculate regulatory credit risk capital requirements and advanced measurement approaches to calculate regulatory operational risk capital requirements. The final rule describes the qualifying criteria for banks required or seeking to operate under the new framework and the applicable risk-based capital requirements for banks that operate under the framework.
Rules of Practice and Procedure
Document Number: E7-22969
Type: Rule
Date: 2007-11-28
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (FDIC) is amending its procedural regulations implementing sections 8(g) and 8(b) of the Federal Deposit Insurance Act. The amendments are generally technical in nature, and are necessary to ensure that the rules are consistent with statutory changes effected by sections 708 and 702 of the Financial Services Regulatory Relief Act of 2006.
Deposit Insurance Assessments-2008 Designated Reserve Ratio
Document Number: E7-22576
Type: Notice
Date: 2007-11-21
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003
Document Number: 07-5453
Type: Rule
Date: 2007-11-09
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Federal Trade Commission, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The OCC, Board, FDIC, OTS, NCUA and FTC (the Agencies) are jointly issuing final rules and guidelines implementing section 114 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act) and final rules implementing section 315 of the FACT Act. The rules implementing section 114 require each financial institution or creditor to develop and implement a written Identity Theft Prevention Program (Program) to detect, prevent, and mitigate identity theft in connection with the opening of certain accounts or certain existing accounts. In addition, the Agencies are issuing guidelines to assist financial institutions and creditors in the formulation and maintenance of a Program that satisfies the requirements of the rules. The rules implementing section 114 also require credit and debit card issuers to assess the validity of notifications of changes of address under certain circumstances. Additionally, the Agencies are issuing joint rules under section 315 that provide guidance regarding reasonable policies and procedures that a user of consumer reports must employ when a consumer reporting agency sends the user a notice of address discrepancy.
Fair Credit Reporting Affiliate Marketing Regulations
Document Number: 07-5349
Type: Rule
Date: 2007-11-07
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The OCC, Board, FDIC, OTS, and NCUA (Agencies) are publishing final rules to implement the affiliate marketing provisions in section 214 of the Fair and Accurate Credit Transactions Act of 2003, which amends the Fair Credit Reporting Act. The final rules generally prohibit a person from using information received from an affiliate to make a solicitation for marketing purposes to a consumer, unless the consumer is given notice and a reasonable opportunity and a reasonable and simple method to opt out of the making of such solicitations.
Sunshine Act; Notice of Agency Meeting
Document Number: E7-21544
Type: Notice
Date: 2007-11-02
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Annual Independent Audits and Reporting Requirements
Document Number: E7-21168
Type: Proposed Rule
Date: 2007-11-02
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Section 36 of the Federal Deposit Insurance Act (FDI Act) and the FDIC's implementing regulations (part 363) set forth annual independent audit and reporting requirements for insured depository institutions with $500 million or more in total assets. Given changes in the industry, certain sound audit, reporting, and audit committee practices incorporated in the Sarbanes-Oxley Act of 2002 (SOX); and the FDIC's experience in administering part 363, the FDIC is proposing to amend part 363 of its regulations. These amendments are designed to further the objectives of section 36 by incorporating these sound practices into part 363 and to provide clearer and more complete guidance to institutions and independent public accountants concerning compliance with the requirements of section 36 and part 363. As required by section 36, the FDIC has consulted with the other federal banking agencies. The FDIC is also proposing a technical amendment to its rules and procedures (part 308, subpart U) for the removal, suspension, or debarment of accountants and accounting firms.
Notice of Agency Meeting
Document Number: E7-21545
Type: Notice
Date: 2007-11-01
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Privacy Act of 1974, as Amended; System of Records
Document Number: E7-21167
Type: Notice
Date: 2007-10-29
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (``FDIC'') proposes to add three new systems of records to its collection of systems of records notices published pursuant to the Privacy Act of 1974. These new systems of records are entitled: Office of the Chairman Correspondence Records; Congressional Correspondence Records; and, Legislative Information Tracking System Records. The FDIC also proposes to revise twenty-three existing systems of records to update various system elements and to add routine use language recommended by the President's Task Force on Identity Theft. We hereby publish this notice for comment on the proposed actions.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: E7-21097
Type: Notice
Date: 2007-10-29
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In accordance with requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that it plans to submit to the Office of Management and Budget (OMB) a request for OMB review and approval of the six information collections described below.
Extension of Time Period for Quarterly Reporting of Bank Officers' and Certain Employees' Personal Securities Transactions
Document Number: E7-20998
Type: Rule
Date: 2007-10-25
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is amending its regulation governing personal securities trading reporting to extend the time period from 10-business to 30-calendar days after the end of the calendar quarter that officers and all employees of state nonmember banks who make or participate in investment decisions for the accounts of customers have to report their personal securities transactions.
Agency Information Collection Activities: Proposed Collections; Comment Request
Document Number: E7-20584
Type: Notice
Date: 2007-10-19
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on the following information collections, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35): (1) Interagency Biographical and Financial Report; (2) Interagency Notice of Change in Control; (3) Recordkeeping and Disclosure Requirements in Connection with Regulation Z (Truth in Lending); (4) Recordkeeping and Disclosure Requirements in Connection with Regulation M (Consumer Leasing); and (5) Recordkeeping and Disclosure Requirements in Connection with Regulation B (Equal Credit Opportunity).
Assessment Dividends
Document Number: C7-4596
Type: Proposed Rule
Date: 2007-10-16
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Notice of Agency Meeting
Document Number: E7-20175
Type: Notice
Date: 2007-10-15
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: E7-20187
Type: Notice
Date: 2007-10-12
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
FDIC Advisory Committee on Economic Inclusion (ComE-IN); Notice of Meeting
Document Number: E7-19761
Type: Notice
Date: 2007-10-09
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In accordance with the Federal Advisory Committee Act, notice is hereby given of a meeting of the FDIC Advisory Committee on Economic Inclusion, which will be held in Washington, DC. The Advisory Committee will provide advice and recommendations on initiatives to expand access to banking services by underserved populations.
Proposed Guidance on Garnishment of Exempt Federal Benefit Funds
Document Number: 07-4783
Type: Notice
Date: 2007-09-28
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The Agencies are proposing guidance entitled Garnishment of Exempt Federal Benefit Funds. This proposed guidance has been developed to encourage financial institutions to have policies and procedures in place with respect to handling garnishment orders and sets forth best practices, including procedures designed to expedite notice to the consumer of the garnishment process and release of funds to the consumer as quickly as possible.
Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S. Branches and Agencies of Foreign Banks
Document Number: 07-4716
Type: Rule
Date: 2007-09-25
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The OCC, Board, FDIC, and OTS (collectively, the Agencies) are jointly adopting as final the interim rules issued on April 10, 2007, that implemented section 605 of the Financial Services Regulatory Relief Act of 2006 (FSRRA) and related legislation (collectively the Examination Amendments). The Examination Amendments permit insured depository institutions (institutions) that have up to $500 million in total assets, and that meet certain other criteria, to qualify for an 18-month (rather than 12-month) on-site examination cycle. Prior to enactment of FSRRA, only institutions with less than $250 million in total assets were eligible for an 18-month on-site examination cycle. The interim rules made parallel changes to the Agencies' regulations governing the on-site examination cycle for U.S. branches and agencies of foreign banks (foreign bank offices), consistent with the International Banking Act of 1978 (IBA). In addition to implementing the changes in the Examination Amendments, the interim rules clarified when a small insured depository institution is considered ``well managed'' for purposes of qualifying for an 18-month examination cycle.
Agency Information Collection Activities: Proposed Information Collection; Comment Request
Document Number: E7-18735
Type: Notice
Date: 2007-09-24
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In accordance with the Paperwork Reduction Act of 1995, an agency 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 FDIC is contemplating initiating a survey relating to large-bank deposit insurance account systems. Institutions with the largest number of deposit accounts would be asked to provide information about their deposit account systems to the FDIC. The FDIC is exploring new methods to modernize its deposit insurance determination process, whereby the insurance status of each depositor is determined in the event of failure, and information collected through the survey would be used to facilitate those efforts.
Assessment Dividends
Document Number: 07-4596
Type: Proposed Rule
Date: 2007-09-18
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is seeking comments on alternative methods for allocating dividends as part of a permanent final rule to implement the dividend requirements of the Federal Deposit Insurance Reform Act of 2005 (Reform Act) and the Federal Deposit Insurance Reform Conforming Amendments Act of 2005 (Amendments Act). The existing FDIC regulations on assessment dividends will expire on December 31, 2008.
Notice of a Matter To Be Deferred From the Agenda for Consideration at an Agency Meeting
Document Number: E7-17845
Type: Notice
Date: 2007-09-11
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Proposed Agency Information Collection Activities; Comment Request
Document Number: 07-4420
Type: Notice
Date: 2007-09-11
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), the OCC, the Board, the FDIC, and the OTS (the ``agencies'') 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 Federal Financial Institutions Examination Council (FFIEC), of which the agencies are members, has approved the agencies' publication for public comment of a proposal to extend, with revision, the Consolidated Reports of Condition and Income (Call Report) for banks and the Thrift Financial Report (TFR) for savings associations, which are currently approved collections of information. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the FFIEC and the agencies should modify the proposed revisions prior to giving final approval. The agencies will then submit the revisions to OMB for review and approval.
Sunshine Act; Notice of Agency Meeting
Document Number: E7-17714
Type: Notice
Date: 2007-09-07
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: E7-17713
Type: Notice
Date: 2007-09-07
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Agency Information Collection Activities: Proposed Collections; Comment Request
Document Number: E7-16912
Type: Notice
Date: 2007-08-29
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on the following information collections, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35): (1) Foreign Branching and Investment by Insured State Nonmember Banks; (2) Procedures for Monitoring Bank Secrecy Act Compliance; (3) Community Reinvestment Act; (4) Application for Waiver of Publication on Acceptance of Brokered Deposits for Adequately Capitalized Insured Institutions; (5) Real Estate Lending Standards; and (6) Management Official Interlocks.
Notice of Agency Meeting
Document Number: E7-16968
Type: Notice
Date: 2007-08-27
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Agency Information Collection Activities: Proposed Information Collection; Comment Request
Document Number: E7-16218
Type: Notice
Date: 2007-08-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on a proposed new collection of information, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35). The collection is mandated by section 7 of the Federal Deposit Insurance Reform Conforming Amendments Act of 2005 (``Reform Act'') (Pub. L. 109-173), which calls for the FDIC to conduct ongoing surveys ``on efforts by insured depository institutions to bring those individuals and families who have rarely, if ever, held a checking account, a savings account or other type of transaction or check cashing account at an insured depository institution (hereafter in this section referred to as the `unbanked') into the conventional finance system.'' The FDIC is initiating work on the first of these surveys and intends to survey FDIC-insured depository institutions on their efforts to serve underbanked, as well as unbanked, populations. Underbanked populations include individuals who have an account with an insured depository but also rely on nonbank alternative financial service providers for transaction services or high cost credit products.
Agency Information Collection Activities: Submission for OMB Review; Comment Request; 3064-0121
Document Number: E7-16215
Type: Notice
Date: 2007-08-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In accordance with requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that it is submitting to the Office of Management and Budget (OMB) a request for OMB review and approval of the renewal or revision of the information collection systems described below. The collection would provide information on the features and effectiveness of small-dollar programs offered by FDIC-insured financial institutions.
Proposed Illustrations of Consumer Information for Subprime Mortgage Lending
Document Number: 07-3945
Type: Notice
Date: 2007-08-14
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Board of Governors of the Federal Reserve System, Comptroller of the Currency
The OCC, Board, FDIC, OTS, and NCUA (the Agencies), request comment on these Proposed Illustrations of Consumer Information for Subprime Mortgage Lending. The illustrations are intended to assist institutions in providing consumer information as discussed in the consumer protection portion of the Agencies' Statement on Subprime Mortgage Lending (Subprime Statement). The illustrations are not intended as model forms, and institutions will not be required to use them. Rather, they are provided to respond to the requests of commenters that the Agencies provide uniform disclosures for, or illustrations of, the type of consumer information contemplated by the Subprime Statement.
Agency Information Collection Activities; Proposed Revision of Information Collection; Renewal; Comment Request
Document Number: 07-3834
Type: Notice
Date: 2007-08-07
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Comptroller of the Currency
The OCC and FDIC (Agencies), as part of their continuing effort to reduce paperwork and respondent burden, invite the public and other Federal agencies to comment on proposed revisions to a continuing information collection, as required by the Paperwork Reduction Act of 1995. The Agencies 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 Agencies are soliciting comments on proposed revisions to the information collections titled: ``Interagency Bank Merger Act Application.'' The General Information and Instructions section has been revised to delete information about the Bank Insurance Fund (BIF), the Savings Association Insurance Fund (SAIF), and the Oakar statutory provisions. In addition, corresponding legal citations on the form to these provisions are being deleted. The Agencies also solicit comment on the renewal without change to the information collections titled: ``Interagency Biographical and Financial Report'' and ``Interagency Notice of Change in Control.'' The OCC solicits comment on the renewal without change to its ``Interagency Notice of Change in Directors or Senior Executive Officers'' information collection. Additionally, the OCC is making other clarifying changes to the Comptroller's Licensing Manual (Manual).
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: E7-13877
Type: Notice
Date: 2007-07-18
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In accordance with requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that it plans to submit to the Office of Management and Budget (OMB) a request for OMB review and approval of the following information collection systems: Certified Statement (3064-0057); (3064-0137); and Insurance Sales Consumer Protections (3064-0140).
Notice of Agency Meeting
Document Number: E7-13726
Type: Notice
Date: 2007-07-16
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Management Official Interlocks
Document Number: 07-3441
Type: Rule
Date: 2007-07-16
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) (collectively, the Agencies) are amending their rules regarding management interlocks to implement section 610 of the Financial Services Regulatory Relief Act of 2006 (FSRRA) and to correct inaccurate cross-references.
Community Reinvestment Act; Interagency Questions and Answers Regarding Community Reinvestment; Notice
Document Number: 07-3223
Type: Notice
Date: 2007-07-11
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The staffs of the OCC, the Board, the FDIC, and OTS (collectively, the ``agencies'') have combined three previously adopted publications of informal staff guidance answering questions regarding community reinvestment (Interagency Questions and Answers). The Interagency Questions and Answers address frequently asked questions about community reinvestment to assist agency personnel, financial institutions, and the public. The agencies are proposing nine new questions and answers, as well as substantive and technical revisions to the existing Interagency Questions and Answers. Among the proposed new questions and answers is one that addresses activities engaged in by a majority-owned financial institution with a minority-or women- owned financial institution or a low-income credit union. In addition, three revisions are intended to encourage institutions to work with homeowners who are unable to make mortgage payments by highlighting that they can receive CRA consideration for foreclosure prevention programs for low- and moderate-income homeowners, consistent with the interagency Statement on Working with Mortgage Borrowers issued April 17, 2007. Public comment is invited on the proposed new and revised questions and answers, as well as any other community reinvestment issues.
Statement on Subprime Mortgage Lending
Document Number: 07-3316
Type: Notice
Date: 2007-07-10
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The Agencies are issuing a final interagency Statement on Subprime Mortgage Lending. This guidance has been developed to clarify how institutions can offer certain adjustable rate mortgage (ARM) products in a safe and sound manner, and in a way that clearly discloses the risks that borrowers may assume.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 07-3226
Type: Notice
Date: 2007-07-03
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), the OCC, the Board, the FDIC, and the OTS (the ``agencies'') 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. On April 6, 2007, the agencies published a notice requesting public comment for sixty days on the extension, with revision, of the Transfer Agent Registration and Amendment Form (TA-1). In addition, OTS seeks to implement an amendment to section 3(a)(34) of the Securities Exchange Act of 1934 (the Act), pursuant to a provision of the Financial Services Regulatory Relief Act of 2006 (FSRRA), enacted on October 13, 2006. This implementation would institute the use of the TA-1 for savings associations intending to engage in transfer agent activities. Currently, the OCC, FDIC, and OTS are soliciting comment concerning the extension, with revision, of the Transfer Agent Registration and Amendment Form. The Board has approved this information collection under its delegated authority from OMB.
FDIC Advisory Committee on Economic Inclusion (ComE-IN); Notice of Meeting
Document Number: E7-12632
Type: Notice
Date: 2007-06-29
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In accordance with the Federal Advisory Committee Act, notice is hereby given of a meeting of the FDIC Advisory Committee on Economic Inclusion, which will be held in Washington, DC. The Advisory Committee will provide advice and recommendations on initiatives to expand access to banking services by underserved populations.
Extension of Time Period for Quarterly Reporting of Bank Officers' and Certain Employees' Personal Securities Transactions
Document Number: E7-12239
Type: Proposed Rule
Date: 2007-06-27
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC proposes to amend its rule concerning the period of time that officers and all employees of state nonmember banks who make or participate in investment decisions for the accounts of customers (``certain employees'') have to report their personal securities transactions after the end of the calendar quarter. The revision would extend the time period from 10-business days to 30-calendar days after the end of the calendar quarter for bank officers and certain employees to report personal securities transactions to the bank. This revision reflects certain developments in Federal securities regulations.
Agency Information Collection Activities: Proposed Collection Renewals; Comment Request
Document Number: 07-2989
Type: Notice
Date: 2007-06-18
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The FDIC, OCC, and OTS (Agencies), as part of their continuing efforts to reduce paperwork and respondent burden, invite the general public and other federal agencies to take this opportunity to comment on a continuing information collection titled ``Affiliate Marketing/ Consumer Opt-Out Notices,'' as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35). OMB Control numbers for this collection are 3064-0149 (FDIC), 1557-0230 (OCC), and 1550-0112 (OTS).
Sunshine Act; Notice of Agency Meeting
Document Number: E7-11665
Type: Notice
Date: 2007-06-15
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: E7-11664
Type: Notice
Date: 2007-06-15
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Illustrations of Consumer Information for Nontraditional Mortgage Products
Document Number: 07-2859
Type: Notice
Date: 2007-06-08
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The Agencies are publishing three documents that set forth Illustrations of Consumer Information for Nontraditional Mortgage Products. The illustrations are intended to assist institutions in implementing the consumer protection portion of the Interagency Guidance on Nontraditional Mortgage Product Risks (Interagency NTM Guidance) adopted on October 4, 2006. 71 FR 58609 (Oct. 4, 2006). The illustrations are not model forms and institutions may choose not to use them in providing information to consumers on nontraditional mortgage products as recommended in the Interagency NTM Guidance.