82 FR 60468 - Agency Information Collection Requirements: Information Collection Renewal; Submission for OMB Review; Debt Cancellation Contracts and Debt Suspension Agreements
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency Federal Register Volume 82, Issue 243 (December 20, 2017)
Office of the Comptroller of the Currency
Federal Register Volume 82, Issue 243 (December 20, 2017)
| Page Range | 60468-60470 | |
| FR Document | 2017-27328 |
[Federal Register Volume 82, Number 243 (Wednesday, December 20, 2017)] [Notices] [Pages 60468-60470] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-27328] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Requirements: Information Collection Renewal; Submission for OMB Review; Debt Cancellation Contracts and Debt Suspension Agreements 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 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. Currently, the OCC is soliciting comment concerning the renewal of an information collection titled ``Debt Cancellation Contracts and Debt Suspension Agreements.'' The OCC also is giving notice that it has sent the collection to OMB for review. DATES: You should submit written comments by: January 19, 2018. 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: 1557-0224, 400 7th Street SW, Suite 3E-218, 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 hearing impaired, 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. Additionally, please send a copy of your comments by mail to: OCC Desk Officer, 1557-0224, U.S. Office of Management and Budget, 725 17th Street NW, #10235, Washington, DC 20503 or by email to: oira [email protected]. FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance Officer, (202) 649-5490 or, for persons who are deaf hearing impaired, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW, 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. The OCC is requesting that OMB extend its approval of the following collection. Title: Debt Cancellation Contracts and Debt Suspension Agreements. OMB Control No.: 1557-0224. Description: Twelve U.S.C. 24(Seventh) authorizes a national bank (bank) to enter into Debt Cancellation Contracts (DCCs) and Debt Suspension Agreements (DSAs). Part 37 requires banks to disclose information about a DCC or a DSA using either a short or long form disclosure. The short form disclosure usually is made orally and [[Page 60469]] issued at the time a bank first solicits the purchase of a contract. The long form disclosure usually is made in writing and issued before the customer completes the purchase of the contract. There are special rules for transactions by telephone, solicitations using written mail inserts or ``take one'' applications, and electronic transactions. Part 37 provides two forms of disclosure that serve as models for satisfying the requirements of the rule. Use of the forms is not mandatory, and the regulation permits a bank to adjust the form and wording of its disclosures so long as it meets the applicable requirements. The requirements of part 37 enhance consumer protections for customers who purchase DCCs and DSAs from banks and ensure that banks offer these products in a safe and sound manner by requiring them to effectively manage their risk exposure. Section 37.6 Section 37.6 requires the form of the disclosures to be readily understandable and meaningful. The content of the short and long form may vary, depending on whether a bank elects to provide a summary of the conditions and exclusions in the long form disclosures or refer the customer to the pertinent paragraphs in the contract. For example, the short form disclosure requires a bank to instruct the customer to read carefully both the long form disclosures and the contract for a full explanation of the contract terms, while the long form gives a bank the option of either: (i) Summarizing the limitations; or (ii) advising the customer that a complete explanation of the eligibility requirements, conditions, and exclusions is available in the contract and identifying the paragraphs where the customer may find that information. Section 37.6 and appendices A and B to part 37 require a bank to provide the following disclosures (summarized below), as appropriate:Anti-tying (short and long form)--A bank must inform the customer that purchase of the product is optional and that neither the bank's decision whether to approve the loan nor the terms and conditions of the loan are conditioned on the purchase of a DCC or DSA. Explanation of debt suspension agreement (long form)--A bank must disclose that if a customer activates the agreement, the customer's duty to pay the loan principal and interest is only suspended and the customer must fully repay the loan after the period of suspension has expired. Amount of the fee (long form)--A bank must make disclosures regarding the amount of the fee. The content of the disclosure depends on whether the credit is open-end or closed-end. In the case of closed-end credit, the bank must disclose the total fee. In the case of open-end credit, the bank must either: (i) Disclose that the periodic fee is based on the account balance multiplied by a unit cost and provide the unit cost; or (ii) disclose the formula used to compute the fee. Lump sum payment of fee (short and long form)--A bank must disclose, where appropriate, that a customer has the option to pay the fee in a single payment or in periodic payments and adding the fee to the amount borrowed will increase the cost of the contract. This disclosure is not appropriate in the case of a DCC or DSA provided in connection with a home mortgage loan because the option to pay the fee in a single payment is not available in that case. Lump sum payment of fee with no refund (short and long form)--A bank must disclose that the customer has the option to choose a contract with or without a refund provision. This disclosure must also state that the prices of refund and no-refund products are likely to differ. Refund of fee paid in lump sum (short and long form)--If a bank permits a customer to pay the fee in a single payment and add the fee to the amount borrowed, the bank must disclose its cancellation policy. The disclosure informs the customer of the bank's refund policy, as applicable, i.e., that the DCC or DSA may be: (i) Canceled at any time for a refund; (ii) cancelled within a specified number of days for a full refund; or (iii) cancelled at any time with no refund. Whether use of a credit line is restricted (long form)--A bank must inform a customer if the customer's activation of the contract would prohibit the customer from incurring additional charges or using the credit line. Termination of a DCC or DSA (long form)--If termination is permitted during the life of the loan, a bank must include an explanation of the circumstances under which a customer or the bank may terminate the contract. Additional disclosures (short form)--A bank must inform consumers that it will provide additional information before the customer is required to pay for the product. Eligibility requirements, conditions, and exclusions (short and long form)--A bank must describe any material limitations relating to the DCC or DSA. Section 37.7 Section 37.7 requires a bank to obtain a customer's written affirmative election to purchase a contract and written acknowledgment of receipt of the disclosures required by Sec. 37.6. The section further provides that the election and acknowledgment must be conspicuous, simple, direct, readily understandable, and designed to call attention to their significance. Pursuant to Sec. 37.7(b), if the sale of the contract occurs by telephone, the customer's affirmative election to purchase and acknowledgment of receipt of the required short form may be made orally, provided the bank: (i) Maintains sufficient documentation to show that the customer received the short form disclosures and then affirmatively elected to purchase the contract; (ii) mails the affirmative written election and written acknowledgment, together with the long form disclosures required by Sec. 37.6, to the customer within 3 business days after the telephone solicitation and maintains sufficient documentation to show it made reasonable efforts to obtain the documents from the customer; and (iii) permits the customer to cancel the purchase of the contract without penalty within 30 days after the bank has mailed the long form disclosures to the customer. Pursuant to Sec. 37.7(c), if the DCC or DSA is solicited through written materials such as mail inserts or ``take one'' applications and the bank provides only the short form disclosures in the written materials, then the bank shall mail the acknowledgment, together with the long form disclosures, to the customer. The bank may not obligate the customer to pay for the contract until after the bank has received the customer's written acknowledgment of receipt of disclosures, unless the bank takes certain steps, maintains certain documentation, and permits the customer to cancel the purchase within 30 days after mailing the long form disclosures to the customer. Section 37.6(d) permits the customer's affirmative election and acknowledgment to be made electronically. Type of Review: Regular. Affected Public: Businesses or other for-profit. Number of Respondents: 1,300. Total Annual Burden Hours: 31,200 hours. The OCC issued a notice for 60 days of comment regarding this collection, 82 FR 44875. No comments were received. Comments continue to be invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the OCC, including whether the information shall have practical utility; [[Page 60470]] (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. Dated: December 14, 2017. Karen Solomon, Acting Senior Deputy Comptroller and Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2017-27328 Filed 12-19-17; 8:45 am] BILLING CODE 4810-33-P
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on August 12, 1968 contains those same designated use of the property from Activities Division, Office of the
restrictions, under which the airport has aeronautical to non-aeronautical use, Comptroller of the Currency, Attention:
operated for 50 years. In an effort to comply with National Environmental 1557–0224, 400 7th Street SW, Suite
make the airport more economically Policy Act (NEPA), and undergo an 3E–218, Washington, DC 20219. In
viable, the State of Montana and the aeronautical study through the 7460–1 addition, comments may be sent by fax
Montana Department of Transportation process. to (571) 465–4326 or by electronic mail
(MDT) request the following deed Any person may inspect, by to prainfo@occ.treas.gov. You may
restrictions be removed: appointment, the request in person at personally inspect and photocopy
• Deed Restriction 1. ‘‘The State of the FAA office listed above under FOR comments at the OCC, 400 7th Street
Montana will use the lands herein FURTHER INFORMATION CONTACT. SW, Washington, DC 20219. For
conveyed for airport development.’’: In addition, any person may, upon security reasons, the OCC requires that
Requesting release of approximately 175 appointment and request, inspect the visitors make an appointment to inspect
acres from this deed restriction in order request to release deed restrictions and comments. You may do so by calling
to maintain financial viability by other documents germane to the request (202) 649–6700 or, for persons who are
permitting possible development of in person at the Yellowstone Airport. deaf or hearing impaired, TTY, (202)
these areas for non-airport development 649–5597. Upon arrival, visitors will be
Issued in Helena, Montana, on December 7,
related purposes to generate new 2017. required to present valid government-
sources of income to operate and issued photo identification and submit
William C. Garrison,
maintain the airport. to security screening in order to inspect
• Deed Restriction 6. ‘‘That all Manager, Helena Airports District Office.
and photocopy comments.
facilities of the airport developed with [FR Doc. 2017–27420 Filed 12–19–17; 8:45 am]
All comments received, including
Federal aid and all those useable for BILLING CODE 4910–13–P
attachments and other supporting
landing and take-off of aircraft will be materials, are part of the public record
available at all times without charge for and subject to public disclosure. Do not
use by the Department of Agriculture DEPARTMENT OF THE TREASURY include any information in your
and Interior in the conduct of its official comment or supporting materials that
business in common with other Office of the Comptroller of the
you consider confidential or
aircraft.’’: Requesting release of all Currency
inappropriate for public disclosure.
airport property from this deed Additionally, please send a copy of
restriction in order to maintain financial Agency Information Collection
Requirements: Information Collection your comments by mail to: OCC Desk
viability by being permitted to charge Officer, 1557–0224, U.S. Office of
for substantial use by the Department of Renewal; Submission for OMB Review;
Debt Cancellation Contracts and Debt Management and Budget, 725 17th
Agriculture and Department of Interior Street NW, #10235, Washington, DC
aircraft, in compliance with Grant Suspension Agreements
20503 or by email to: oira submission@
Assurance 27. AGENCY: Office of the Comptroller of the omb.eop.gov.
• Deed Restriction 7. ‘‘That no Currency (OCC), Treasury.
commercial overnight facilities, such a FOR FURTHER INFORMATION CONTACT:
motels, hotels, or private residences will ACTION: Notice and request for comment. Shaquita Merritt, OCC Clearance
be constructed on the property herein Officer, (202) 649–5490 or, for persons
SUMMARY: The OCC, as part of its who are deaf hearing impaired, TTY,
conveyed.’’: Requesting release of continuing effort to reduce paperwork
approximately 65 acres from this deed (202) 649–5597, Legislative and
and respondent burden, invites the Regulatory Activities Division, Office of
restriction in order to maintain financial general public and other federal
viability by permitting possible the Comptroller of the Currency, 400 7th
agencies to take this opportunity to Street SW, Washington, DC 20219.
development of commercial overnight comment on a continuing information
facilities and generate new sources of SUPPLEMENTARY INFORMATION: Under the
collection as required by the Paperwork
income to operate and maintain the PRA (44 U.S.C. 3501–3520), federal
Reduction Act of 1995 (PRA).
airport. MDT understands that agencies must obtain approval from
In accordance with the requirements
residential development is non- OMB for each collection of information
of the PRA, the OCC may not conduct
compliant with its federal grant they conduct or sponsor. ‘‘Collection of
or sponsor, and the respondent is not
assurances and has no intention of information’’ is defined in 44 U.S.C.
required to respond to, an information
allowing private residences to be 3502(3) and 5 CFR 1320.3(c) to include
collection unless it displays a currently
constructed on airport property. agency requests or requirements that
valid Office of Management and Budget
• Deed Restriction 8. ‘‘That members of the public submit reports,
(OMB) control number.
commercial advertising signs will be keep records, or provide information to
Currently, the OCC is soliciting
prohibited within the airport access a third party. The OCC is requesting that
comment concerning the renewal of an
road area.’’: Requesting release of OMB extend its approval of the
information collection titled ‘‘Debt
approximately 65 acres from this deed following collection.
Cancellation Contracts and Debt
restriction in order to maintain financial Title: Debt Cancellation Contracts and
Suspension Agreements.’’ The OCC also
viability by permitting possible Debt Suspension Agreements.
is giving notice that it has sent the OMB Control No.: 1557–0224.
development of commercial advertising
collection to OMB for review. Description: Twelve U.S.C.
signs within the airport access road area
DATES: You should submit written 24(Seventh) authorizes a national bank
sradovich on DSK3GMQ082PROD with NOTICES
and generate new sources of income to
operate and maintain the airport. comments by: January 19, 2018. (bank) to enter into Debt Cancellation
If the deed restrictions are released, ADDRESSES: Because paper mail in the Contracts (DCCs) and Debt Suspension
prior to moving forward with any Washington, DC area and at the OCC is Agreements (DSAs). Part 37 requires
associated non-aeronautical subject to delay, commenters are banks to disclose information about a
development, MDT understands it will encouraged to submit comments by DCC or a DSA using either a short or
still be required to: Obtain a release email, if possible. Comments may be long form disclosure. The short form
from federal obligation to change the sent to: Legislative and Regulatory disclosure usually is made orally and
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![60470 Federal Register / Vol. 82, No. 243 / Wednesday, December 20, 2017 / Notices
(b) The accuracy of the OCC’s organizational transition to a single Flora at (202) 461–6525 or via email at
estimate of the burden of the collection point of service within the general charles.flora@va.gov.
of information; organizational transformation of VHA. Dated: December 15, 2017.
(c) Ways to enhance the quality, On Wednesday February 7, the
Jelessa M. Burney,
utility, and clarity of the information to Committee will focus on VA mental
Federal Advisory Committee Management
be collected; health services and best practices for Office.
(d) Ways to minimize the burden of coordinating VA mental health services
[FR Doc. 2017–27378 Filed 12–19–17; 8:45 am]
the collection on respondents, including with RCS readjustment counseling
through the use of automated collection BILLING CODE P
services to better serve the combat-
techniques or other forms of information theater Veteran population. To this end
technology; and Committee members will receive
(e) Estimates of capital or start-up DEPARTMENT OF VETERANS
briefings from VA’s mental health
costs and costs of operation, AFFAIRS
leadership on the types and distribution
maintenance, and purchase of services of psychiatric disorders currently being Publication of the Date on Which All
to provide information. presented by Operation Iraqi Freedom/ Amounts Deposited in the Veterans
Dated: December 14, 2017. Operation Enduring Freedoms Veterans Choice Fund Will Be Exhausted
Karen Solomon, and the various treatment regimens
provided for their care inclusive of AGENCY: Department of Veterans Affairs.
Acting Senior Deputy Comptroller and Chief
Counsel, Office of the Comptroller of the psychotherapy and ACTION: Notice.
Currency. psychopharmacology. VA Mental Health
and RCS leadership will additionally SUMMARY: The Veterans Access, Choice,
[FR Doc. 2017–27328 Filed 12–19–17; 8:45 am]
present on the collaborative activities and Accountability Act of 2014, Public
BILLING CODE 4810–33–P Law 113–146, as amended, directs the
currently underway between RCS and
the Office of Mental Health and Suicide Department of Veterans Affairs (VA) to
Prevention to achieve life-saving publish in the Federal Register the date
DEPARTMENT OF VETERANS on which the Secretary will have
AFFAIRS outcomes for at risk combat-theater
Veterans and Service members. exhausted all amounts deposited in the
On Thursday February 8, the Veterans Choice Fund. This Federal
Advisory Committee on the Register Notice is VA’s publication of
Readjustment of Veterans, Notice of Committee will engage in strategic
round table discussions with various this date.
Meeting
other VHA program officials to review FOR FURTHER INFORMATION CONTACT:
The Department of Veterans Affairs the objectives and anticipated outcomes Joseph Duran, Director, Policy and
(VA) gives notice under the Federal for developing a ‘‘Veterans Engagement Planning (10D1A1), Veterans Health
Advisory Committee Act that a meeting Subcommittee’’. This project is being Administration, Department of Veterans
of the Advisory Committee on the initiated through collaborative Affairs, 810 Vermont Avenue NW,
Readjustment of Veterans will be held partnership between RCS and the Washington, DC 20420, (303) 372–4629.
February 6, 7, and 8, 2018. All meeting National Center for Post-Traumatic This is not a toll free number.
sessions will be conducted at the Stress Disorder (NC/PTSD) to strengthen SUPPLEMENTARY INFORMATION: The
Department of Veterans Affairs National the collaborative ties between the RCS Veterans Access, Choice, and
Headquarters, located at 810 Vermont and the NC/PTSD, to improve VA Accountability Act of 2014, Public Law
Avenue NW, Conference Room 530, services and products through Veteran 113–146, as amended, (the Act), section
Washington, DC, 20420. The meetings consumer feedback and to provide 802, established the Veterans Choice
will begin at 8:00 a.m. and adjourn at greater public awareness of VA and its Fund to be used by the Secretary of
4:30 p.m. The meetings are open to the achievements through quality services Veterans Affairs to carry out the
public. to Veterans and families. Veterans Choice Program established by
The purpose of the Committee is to In addition, the agenda will include section 101 of the Act. Pursuant to
review the post-war readjustment needs time for Committee strategic planning sections 101(p)(1) and (2) of the Act, the
of combat-theater Veterans and to focused on its annual operations Secretary may not furnish care and
evaluate the availability, effectiveness priorities for 2018 and the strategic services under the Veterans Choice
and coordination of VA programs perspectives for developing its 19th Program after the date on which the
available to meet Veterans’ readjustment annual report to Congress. Secretary has exhausted all amounts
service needs. No time will be allocated at this deposited in the Veterans Choice Fund.
The agenda for Tuesday February 6 meeting for receiving oral presentations Section 101(p)(3) of the Act directs, not
will feature meetings with VA and the from the public. However, members of later than 30 days prior, VA to publish
Veterans Health Administration (VHA) the public may direct written questions this date in the Federal Register and on
senior leadership to review the general or submit prepared statements for an internet website of the Department
values, strategic priorities and current review by the Committee before the available to the public. Based on current
perspectives on Veterans’ physical meeting to Mr. Charles M. Flora, data, VA believes it will have exhausted
health and psychosocial welfare. The M.S.W., Designated Federal Officer, the amount that was deposited in the
day’s agenda will also include briefings Readjustment Counseling Service, Veterans Choice Fund no earlier than
from the Readjustment Counseling Department of Veterans Affairs, 810 January 2, 2018; however, due to the
Service (RCS) Chief Officer regarding Vermont Avenue NW, Washington, DC unique nature of health care and the
sradovich on DSK3GMQ082PROD with NOTICES
the current activities of the RCS Vet 20420. Because the meeting will be in variability in health care costs, the
Centers to include the full scope of a Government building, please provide amounts in the Fund could last as long
outreach and readjustment counseling valid photo identification for check-in. as January 16, 2018. This information
being provided to combat-theater Please allow 15 minutes before the can be found on the internet at http://
Veterans, Service members and their meeting for the check-in process. If you www.va.gov/opa/choiceact/index.asp.
families. The briefing will also provide plan to attend or have questions VA will update the website if it
a status report regarding the RCS concerning the meeting, contact Mr. determines based on the most current
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Document Created: 2018-10-25 10:55:07
Document Modified: 2018-10-25 10:55:07
| 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 | You should submit written comments by: January 19, 2018. | |
| Contact | Shaquita Merritt, OCC Clearance Officer, (202) 649-5490 or, for persons who are deaf hearing impaired, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219. | |
| FR Citation | 82 FR 60468 |
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