Federal Deposit Insurance Corporation November 21, 2016 – Federal Register Recent Federal Regulation Documents
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Agency Information Collection Activities: Submission for OMB Review; Comment Request (3064-0200)
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 Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35). On August 24, 2016, (81 FR 57908), the FDIC requested comment for 60 days on a proposal to revise the ``Joint Standards for Assessing the Diversity Policies and Practices'' information collection by adding a form to the information collection entitled ``Diversity Self-Assessment Template for Entities Regulated by the FDIC.'' No comments were received. The FDIC hereby gives notice of its plan to submit to OMB a request to approve the renewal of these collections, and again invites comment on this renewal.
Removal of Transferred OTS Regulations Regarding Consumer Protection in Sales of Insurance and Amendments to FDIC Consumer Protection in Sales of Insurance Regulation
In this notice of proposed rulemaking, the Federal Deposit Insurance Corporation (``FDIC'') proposes to rescind and remove from the Code of Federal Regulations the subpart entitled ``Consumer Protection in Sales of Insurance'' (``the subpart'') that was included in the regulations transferred to the FDIC from the Office of Thrift Supervision (``OTS'') on July 21, 2011 in connection with the implementation of applicable provisions of title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act''). The requirements for State savings associations in this subpart are substantively similar to the requirements in the FDIC's part which is also entitled ``Consumer Protection in Sales of Insurance'' (``the part'') and is applicable for all insured depository institutions (``IDIs'') for which the FDIC has been designated the appropriate Federal banking agency. The FDIC proposes to rescind in its entirety the subpart and to modify the scope of the part to include State savings associations and their subsidiaries to conform to and reflect the scope of the FDIC's current supervisory responsibilities as the appropriate Federal banking agency. The FDIC also proposes to define ``FDIC-supervised insured depository institution or institution'' and ``State savings association.'' Finally, the FDIC proposes to transfer an anticoercion and antitying provision from the subpart that is applicable to State savings associations. Upon removal of the subpart, the Consumer Protection in Sales of Insurance, regulations applicable for all IDIs for which the FDIC has been designated the appropriate Federal banking agency will be found in the part.
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