Federal Deposit Insurance Corporation July 28, 2010 – Federal Register Recent Federal Regulation Documents

In accordance with requirements of the Paperwork Reduction Act of 1995 (``PRA''), 44 U.S.C. 3501 et. seq., the FDIC 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, 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 renewal of existing information collections, as required by the PRA. On May 18, 2010 (75 FR 27781), the FDIC solicited public comment for a 60-day period on renewal of the following information collections: Application for Consent to Exercise Trust Powers (3064-0025), and Insurance Sales Consumer Protections (3064- 0140). No comments were received. Therefore, the FDIC hereby gives notice of submission of its requests for renewal to OMB for review.

The OCC, Board, FDIC, OTS, FCA, and NCUA (collectively, the Agencies) are adopting final rules to implement the Secure and Fair Enforcement for Mortgage Licensing Act (the S.A.F.E. Act). The S.A.F.E. Act requires an employee of a bank, savings association, credit union or Farm Credit System (FCS) institution and certain of their subsidiaries that are regulated by a Federal banking agency or the FCA (collectively, Agency-regulated institutions) who acts as a residential mortgage loan originator to register with the Nationwide Mortgage Licensing System and Registry, obtain a unique identifier, and maintain this registration. The final rule further provides that Agency- regulated institutions must: require their employees who act as residential mortgage loan originators to comply with the S.A.F.E. Act's requirements to register and obtain a unique identifier, and adopt and follow written policies and procedures designed to assure compliance with these requirements.