81 FR 10363 - Agency Information Collection Activities: Information Collection Renewal; Comment Request; Consumer Protections for Depository Institution Sales of Insurance
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency Federal Register Volume 81, Issue 39 (February 29, 2016)
Office of the Comptroller of the Currency
Federal Register Volume 81, Issue 39 (February 29, 2016)
| Page Range | 10363-10364 | |
| FR Document | 2016-04266 |
[Federal Register Volume 81, Number 39 (Monday, February 29, 2016)] [Notices] [Pages 10363-10364] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-04266] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Comment Request; Consumer Protections for Depository Institution Sales of Insurance AGENCY: Office of the Comptroller of the Currency (OCC), Treasury. ACTION: Notice and request for comment. ----------------------------------------------------------------------- SUMMARY: The OCC, 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 a continuing information [[Page 10364]] 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 renewal of its information collection titled, ``Consumer Protections for Depository Institution Sales of Insurance.'' DATES: Comments must be received by April 29, 2016. ADDRESSES: Because paper mail in the Washington, DC area and at the OCC is subject to delay, commenters are encouraged to submit comments by email, if possible. Comments may be sent to: Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, Attention: 1557-0220, 400 7th Street SW., Suite 3E-218, Mail Stop 9W- 11, Washington, DC 20219. In addition, comments may be sent by fax to (571) 465-4326 or by electronic mail to [email protected]. You may personally inspect and photocopy comments at the OCC, 400 7th Street SW., Washington, DC 20219. For security reasons, the OCC requires that visitors make an appointment to inspect comments. You may do so by calling (202) 649-6700 or, for persons who are deaf or hard of hearing, TTY, (202) 649-5597. Upon arrival, visitors will be required to present valid government-issued photo identification and submit to security screening in order to inspect and photocopy comments. All 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. FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer, (202) 649-5490 or, for persons who are deaf or hard of hearing, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-11, Washington, DC 20219. SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal agencies must obtain approval from OMB for each collection of information 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 the PRA (44 U.S.C. 3506(c)(2)(A)) 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 collection of information set forth in this document. The OCC is proposing to extend OMB approval of the following information collection: Title: Consumer Protections for Depository Institution Sales of Insurance. OMB Control No.: 1557-0220. Type of Review: Extension, without revision, of a currently approved collection. Description: This information collection is required under section 305 of the Gramm-Leach-Bliley Act (GLB Act), Public Law 106-102. Section 305 of the GLB Act requires the OCC, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the Agencies) to prescribe joint consumer protection regulations that apply to retail sales practices, solicitations, advertising, and offers of any insurance product by a depository institution or by other persons performing these activities at an office of the institution or on behalf of the institution (other covered persons). Section 305 also requires those performing such activities to disclose certain information to consumers (e.g., that insurance products and annuities are not FDIC-insured). This information collection requires national banks, Federal savings associations, and other covered persons, as defined in 12 CFR 14.20(f) and 136.20, involved in insurance sales to make two separate disclosures to consumers. Under Sec. Sec. 14.40 and 136.40, a national bank, Federal savings association, or other covered person must prepare and provide orally and in writing: (1) Certain insurance disclosures to consumers before the completion of the initial sale of an insurance product or annuity to a consumer and (2) certain credit disclosures at the time of application for the extension of credit (if insurance products or annuities are sold, solicited, advertised, or offered in connection with an extension of credit). Consumers use the disclosures to understand the risks associated with insurance products and annuities and to understand that they are not required to purchase, and may refrain from purchasing, certain insurance products or annuities in order to qualify for an extension of credit. Affected Public: Businesses or other for-profit. Frequency: On occasion. Estimated Burden: Estimated Number of Respondents: 663. Total Estimated Burden Hours: 3,315 hours. Comments: 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 information collection burden; (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 the services necessary to provide the required information. Dated: February 23, 2016. Mary Hoyle Gottlieb, Regulatory Specialist, Legislative and Regulatory Activities Division. [FR Doc. 2016-04266 Filed 2-26-16; 8:45 am] BILLING CODE 4810-33-P
![Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Notices 10363
costs, program income, annual audit, the current circulars, as well as list FTA contains information pertaining to cost
payment procedures, de-obligation of programs associated with the circulars. principles appendices of the Uniform
federal assistance, debt service reserve, Proposed Appendix B, ‘‘Federal Guidance.
and the right to terminate. While Financial Report,’’ has been updated to Proposed Appendix H [Appendix G of
retaining much of the information found remove information pertaining to FTA Circular 5010.1D], ‘‘Request for
in FTA Circular 5010.1D, substantive TEAM. Once TrAMS is available, FTA Advance or Reimbursement (SF–270)’’
proposed changes include the following: will revise Appendix B to include has been revised to explain how the
Due to the emphasis on having illustrations from TrAMS. recipient should use FTA’s DELPHI e-
adequate internal controls under the Proposed Appendix C, ‘‘Real Estate Invoicing of DELPHI Markview system.
Uniform Guidance, FTA has added Acquisition Management Plan,’’ which New Proposed Appendix I,
more detailed information to assure that is substantially similar to Appendix C of ‘‘Reporting on Real Property,’’ lists the
transactions are properly executed, FTA Circular 5010.1D, has been revised information about real property that the
funds are safeguarded, and records are to address the following issues: (1) recipient, at a minimum, must provide
adequately created and maintained. Acquisitions, partial acquisitions, and to FTA to facilitate compliance with 2
The discussion of non-federal share anticipated number of relocations; (2) CFR 200.329. Among the information
now lists some sources of non-federal whether FTA needs to concur in the expressly required is the parcel number
share, noting that the type of federal appraisal review; (3) issues arising from and the size, expressed as acreage,
assistance awarded determines their administrative settlements; (4) the square or linear units.
eligibility as matching funds. anticipated extent of displacement, New Proposed Appendix J, ‘‘Award
Proposed Chapter VI adds to the types of displacement, availability of Amendments and Budget Revision
information in FTA Circular 5010.1D replacement housing and business sites, Guidelines,’’ provides an explanation of
pertaining to indirect costs. Proposed and other anticipated problems; and (5) how amendments and budget revisions
Chapter VI now states that OMB assigns the contracting requirements, reporting will be treated in both TEAM and
cognizant agencies for state and local requirements, statement of policy TrAMS.
governments. U.S. DOT is the cognizant regarding rental property for extended Proposed Appendix K [Appendix H to
agency for determining indirect costs for possession by tenants and owners, and FTA Circular 5010.1D], ‘‘References,’’
transit districts. In addition, proposed policy regarding rental of property not has been updated to add citations to
Chapter VI now provides extensive immediately needed for use to new documents appearing in the
instructions on how to report indirect accomplish the purposes of the Award. circular.
costs. Proposed Appendix D, ‘‘Guide for
Proposed Appendix L [Appendix I to
Proposed Chapter VI expands the Preparing an Appraisal Scope of Work,’’
FTA Circular 5010.1D], ‘‘FTA Regional
discussion of how program income is to has been expanded to provide more
and Metropolitan Contact Information,’’
be used and now includes a chart guidance on appraising real property,
updates previous contact information.
illustrating those requirements. License especially real property with adverse
In summary, we emphasize that
fees and royalties derived from patents environmental conditions. FTA believes
interested stakeholders should review
and copyrights, as well as advertising this guidance is needed due to the
the proposed circular in its entirety
and concession fees are now expressly frequency of issues arising when a
carefully, particularly the definitions
acknowledged to be program income. recipient seeks to acquire real property,
that have been added or revised, and
Proposed Chapter VI amends the especially when adverse environmental
those provisions that contain new or
information regarding the annual conditions are present.
Proposed Appendix E, ‘‘Rolling Stock expanded information.
‘‘Single Audit’’ to note that the single
audit threshold has been changed from Status Report,’’ is substantially similar Issued in Washington, DC.
$500,000 to $750,000, as required by 2 to Appendix E of FTA Circular 5010.1D. Therese W. McMillan,
CFR part 200. FTA Circular 5010.1D, Appendix F, Acting Administrator.
Proposed Chapter VI sets forth the combined information about indirect [FR Doc. 2016–04273 Filed 2–26–16; 8:45 am]
information about procedures a cost rate proposals (IDRP) with cost BILLING CODE P
recipient must follow and information a allocation plans (CAP). In 2 CFR part
recipient is requested to provide in 200, indirect cost rate and cost
connection with returns of federal allocation plan have independent
assistance to the Federal Government. definitions and requirements, Appendix DEPARTMENT OF THE TREASURY
When requesting federal assistance, F is now solely dedicated to IDRPs and
Office of the Comptroller of the
proposed Chapter VI reminds recipients also provides an example of what
Currency
to verify the availability of that federal constitutes a 20 percent change in the
assistance in FTA’s current electronic FTA approved IDRP, which will then Agency Information Collection
award and management system. require approval by FTA for a new Activities: Information Collection
Proposed Chapter VI provides indirect cost rate. Renewal; Comment Request;
information regarding requisition Also consistent with new provisions Consumer Protections for Depository
payments to include information on the of the Uniform Guidance, Appendix F Institution Sales of Insurance
DELPHI e-Invoicing System or DELPHI permits recipients that have never
Markview system. negotiated an indirect cost rate or have AGENCY: Office of the Comptroller of the
not had an indirect cost rate approved Currency (OCC), Treasury.
asabaliauskas on DSK5VPTVN1PROD with NOTICES
G. Appendices by a cognizant agency to choose a ‘‘de ACTION: Notice and request for comment.
Following are changes made to the minimis rate’’ or an indirect cost rate of
Appendices of FTA Circular 5010.1D 10% of the modified total direct cost. SUMMARY: The OCC, as part of its
and information about new appendices ‘‘Cost Allocation Plans’’ are now continuing effort to reduce paperwork
that have been added to the Proposed addressed in proposed Appendix G. and respondent burden, invites the
Circular: Among other things, proposed general public and other Federal
Proposed Appendix A, ‘‘Table of FTA Appendix G defines a CAP consistent agencies to take this opportunity to
Circulars,’’ has been updated to reflect with the Uniform Guidance and also comment on a continuing information
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![10364 Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Notices
collection, as required by the Paperwork members of the public submit reports, understand that they are not required to
Reduction Act of 1995 (PRA). keep records, or provide information to purchase, and may refrain from
In accordance with the requirements a third party. Section 3506(c)(2)(A) of purchasing, certain insurance products
of the PRA, the OCC may not conduct the PRA (44 U.S.C. 3506(c)(2)(A)) or annuities in order to qualify for an
or sponsor, and the respondent is not requires Federal agencies to provide a extension of credit.
required to respond to, an information 60-day notice in the Federal Register Affected Public: Businesses or other
collection unless it displays a currently concerning each proposed collection of for-profit.
valid Office of Management and Budget information, including each proposed Frequency: On occasion.
(OMB) control number. extension of an existing collection of Estimated Burden:
The OCC is soliciting comment information, before submitting the Estimated Number of Respondents:
concerning renewal of its information collection to OMB for approval. To 663.
collection titled, ‘‘Consumer Protections comply with this requirement, the OCC Total Estimated Burden Hours: 3,315
for Depository Institution Sales of is publishing notice of the collection of hours.
Insurance.’’ information set forth in this document. Comments: Comments submitted in
The OCC is proposing to extend OMB response to this notice will be
DATES: Comments must be received by
approval of the following information summarized and included in the request
April 29, 2016. for OMB approval. All comments will
ADDRESSES: Because paper mail in the
collection:
Title: Consumer Protections for become a matter of public record.
Washington, DC area and at the OCC is Comments are invited on:
Depository Institution Sales of
subject to delay, commenters are (a) Whether the collection of
Insurance.
encouraged to submit comments by information is necessary for the proper
OMB Control No.: 1557–0220.
email, if possible. Comments may be Type of Review: Extension, without performance of the functions of the
sent to: Legislative and Regulatory revision, of a currently approved OCC, including whether the information
Activities Division, Office of the collection. has practical utility;
Comptroller of the Currency, Attention: Description: This information (b) The accuracy of the OCC’s
1557–0220, 400 7th Street SW., Suite collection is required under section 305 estimate of the information collection
3E–218, Mail Stop 9W–11, Washington, of the Gramm-Leach-Bliley Act (GLB burden;
DC 20219. In addition, comments may Act), Public Law 106–102. Section 305 (c) Ways to enhance the quality,
be sent by fax to (571) 465–4326 or by of the GLB Act requires the OCC, the utility, and clarity of the information to
electronic mail to prainfo@occ.treas.gov. Board of Governors of the Federal be collected;
You may personally inspect and Reserve System, and the Federal Deposit (d) Ways to minimize the burden of
photocopy comments at the OCC, 400 Insurance Corporation (collectively, the the collection on respondents, including
7th Street SW., Washington, DC 20219. Agencies) to prescribe joint consumer through the use of automated collection
For security reasons, the OCC requires protection regulations that apply to techniques or other forms of information
that visitors make an appointment to retail sales practices, solicitations, technology; and
inspect comments. You may do so by advertising, and offers of any insurance (e) Estimates of capital or start-up
calling (202) 649–6700 or, for persons product by a depository institution or by costs and costs of operation,
who are deaf or hard of hearing, TTY, other persons performing these maintenance, and purchase of the
(202) 649–5597. Upon arrival, visitors activities at an office of the institution services necessary to provide the
will be required to present valid or on behalf of the institution (other required information.
government-issued photo identification covered persons). Section 305 also Dated: February 23, 2016.
and submit to security screening in requires those performing such Mary Hoyle Gottlieb,
order to inspect and photocopy activities to disclose certain information Regulatory Specialist, Legislative and
comments. to consumers (e.g., that insurance Regulatory Activities Division.
All comments received, including products and annuities are not FDIC- [FR Doc. 2016–04266 Filed 2–26–16; 8:45 am]
attachments and other supporting insured). BILLING CODE 4810–33–P
materials, are part of the public record This information collection requires
and subject to public disclosure. Do not national banks, Federal savings
include any information in your associations, and other covered persons, DEPARTMENT OF THE TREASURY
comment or supporting materials that as defined in 12 CFR 14.20(f) and
you consider confidential or 136.20, involved in insurance sales to Office of the Comptroller of the
inappropriate for public disclosure. make two separate disclosures to Currency
FOR FURTHER INFORMATION CONTACT: consumers. Under §§ 14.40 and 136.40,
Shaquita Merritt, Clearance Officer, a national bank, Federal savings Agency Information Collection
(202) 649–5490 or, for persons who are association, or other covered person Activities; Information Collection
deaf or hard of hearing, TTY, (202) 649– must prepare and provide orally and in Renewal; Comment Request; Funding
5597, Legislative and Regulatory writing: (1) Certain insurance and Liquidity Risk Management
Activities Division, Office of the disclosures to consumers before the AGENCY: Office of the Comptroller of the
Comptroller of the Currency, 400 7th completion of the initial sale of an Currency (OCC), Treasury.
Street SW., Suite 3E–218, Mail Stop insurance product or annuity to a ACTION: Notice and request for comment.
9W–11, Washington, DC 20219. consumer and (2) certain credit
asabaliauskas on DSK5VPTVN1PROD with NOTICES
SUPPLEMENTARY INFORMATION: Under the disclosures at the time of application for SUMMARY: The OCC, as part of its
PRA (44 U.S.C. 3501–3520), Federal the extension of credit (if insurance continuing effort to reduce paperwork
agencies must obtain approval from products or annuities are sold, solicited, and respondent burden, invites the
OMB for each collection of information advertised, or offered in connection general public and other Federal
they conduct or sponsor. ‘‘Collection of with an extension of credit). agencies to take this opportunity to
information’’ is defined in 44 U.S.C. Consumers use the disclosures to comment on a continuing information
3502(3) and 5 CFR 1320.3(c) to include understand the risks associated with collection, as required by the Paperwork
agency requests or requirements that insurance products and annuities and to Reduction Act of 1995 (PRA).
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Document Created: 2016-02-27 02:04:57
Document Modified: 2016-02-27 02:04:57
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice and request for comment. | |
| Dates | Comments must be received by April 29, 2016. | |
| Contact | Shaquita Merritt, Clearance Officer, (202) 649-5490 or, for persons who are deaf or hard of hearing, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-11, Washington, DC 20219. | |
| FR Citation | 81 FR 10363 |
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