83 FR 16098 - Proposed Agency Information Collection Activities; Comment Request
FEDERAL RESERVE SYSTEM Federal Register Volume 83, Issue 72 (April 13, 2018)
Federal Register Volume 83, Issue 72 (April 13, 2018)
| Page Range | 16098-16099 | |
| FR Document | 2018-07668 |
[Federal Register Volume 83, Number 72 (Friday, April 13, 2018)] [Notices] [Pages 16098-16099] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-07668] ======================================================================= ----------------------------------------------------------------------- FEDERAL RESERVE SYSTEM Proposed Agency Information Collection Activities; Comment Request AGENCY: Board of Governors of the Federal Reserve System. ACTION: Notice, request for comment. ----------------------------------------------------------------------- SUMMARY: The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Recordkeeping and Disclosure Requirements Associated with Consumer Financial Protection Bureau's (CFPB) Regulation B (Equal Credit Opportunity Act) (FR B; OMB No. 7100-0201). DATES: Comments must be submitted on or before June 12, 2018. ADDRESSES: You may submit comments, identified by FR B, by any of the following methods:Agency Website: http://www.federalreserve.gov. Follow the instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx. Email: regs.comments@federalreserve.gov. Include OMB number in the subject line of the message. FAX: (202) 452-3819 or (202) 452-3102. Mail: Ann E. Misback, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW, Washington, DC 20551. All public comments are available from the Board's website at http://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, unless modified for technical reasons. Accordingly, your comments will not be edited to remove any identifying or contact information. Public comments may also be viewed electronically or in paper form in Room 3515, 1801 K Street (between 18th and 19th Streets NW) Washington, DC 20006 between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the Board requires that visitors make an appointment to inspect comments. You may do so by calling (202) 452-3684. Upon arrival, visitors will be required to present valid government-issued photo identification and to submit to security screening in order to inspect and photocopy comments. Additionally, commenters may send a copy of their comments to the OMB Desk Officer--Shagufta Ahmed--Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW, Washington, DC 20503 or by fax to (202) 395-6974. FOR FURTHER INFORMATION CONTACT: A copy of the PRA OMB submission, including the proposed reporting form and instructions, supporting statement, and other documentation will be placed into OMB's public docket files, once approved. These documents will also be made available on the Federal Reserve Board's public website at: http://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested from the agency clearance officer, whose name appears below. Federal Reserve Board Clearance Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of Governors of the Federal Reserve System, Washington, DC 20551, (202) 452-3829. Telecommunications Device for the Deaf (TDD) users may contact (202) 263-4869, Board of Governors of the Federal Reserve System, Washington, DC 20551. SUPPLEMENTARY INFORMATION: On June 15, 1984, the Office of Management and Budget (OMB) delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve of and assign OMB control numbers to collection of information requests and requirements conducted or sponsored by the Board. In exercising this delegated authority, the Board is directed to take every reasonable step to solicit comment. In determining whether to approve a collection of information, the Board will consider all comments received from the public and other agencies. Request for Comment on Information Collection Proposal The Board invites public comment on the following information collection, which is being reviewed under authority delegated by the OMB under the PRA. Comments are invited on the following: a. Whether the proposed collection of information is necessary for the proper performance of the Federal Reserve's functions; including whether the information has practical utility; b. The accuracy of the Federal Reserve's estimate of the burden of the proposed information collection, including the validity of the methodology and assumptions used; c. Ways to enhance the quality, utility, and clarity of the information to be collected; d. Ways to minimize the burden of information collection on respondents, including through the use of automated collection techniques or other forms of information technology; and e. Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the Federal Reserve should modify the proposal prior to giving final approval. Proposal To Approve Under OMB Delegated Authority the Extension for Three Years, Without Revision, of the Following Report Report title: Recordkeeping and Disclosure Requirements Associated with Consumer Financial Protection Bureau's (CFPB) Regulation B (Equal Credit Opportunity Act). Agency form number: FR B. OMB control number: 7100-0201. Frequency: Monthly; annually. Respondents: State member banks; subsidiaries of state member banks; subsidiaries of bank holding companies; U.S. branches and agencies of foreign banks (other than federal branches, federal agencies, and insured state branches of foreign banks); commercial lending companies owned or controlled by foreign banks; and organizations operating under section 25 or 25A of the Federal Reserve Act (12 U.S.C. 601-604a; 611-631). Estimated number of respondents: Notifications, furnishing of credit information, record retention (applications, actions, and prescreened solicitations), information for monitoring purposes, and rules on providing appraisal reports (providing appraisal report), 958 respondents; Self-testing: Record retention--incentives, 92 respondents; Self-testing: Record retention--self-correction, 23 respondents, and Self-testing: Record retention--rules concerning requests for information (disclosure for optional self-test), 92 respondents. Estimated average hours per response: Notifications, 6 hours; Furnishing of credit information, 2.5 hours; Record retention (Applications, actions, and prescreened solicitations), 8 hours; Information for monitoring purposes, 0.25 hours; Rules on providing appraisal reports (Providing appraisal report), 3 hours; Self-testing: Record retention--incentives, 2 hours; Self-testing: Record retention-- self-correction, 8 hours; and [[Page 16099]] Self-testing: Record retention--rules concerning requests for information (disclosure for optional self-test), 3.5 hours. Estimated annual burden hours: Notifications, 68,976 hours; Furnishing of credit information, 28,740 hours; Record retention (Applications, actions, and prescreened solicitations), 7,664 hours; Information for monitoring purposes, 2,874 hours; Rules on providing appraisal reports (Providing appraisal report), 34,488 hours; Self- testing: Record retention--incentives, 184 hours; Self-testing: Record retention--self-correction, 184 hours; and Self-testing: Record retention--rules concerning requests for information (disclosure for optional self-test), 3,864 hours. General description of report: ECOA was enacted in 1974 and is implemented by the CFPB's Regulation B for institutions the Board supervises.\1\ The ECOA prohibits discrimination in any aspect of a credit transaction because of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to contract), or other specified bases (receipt of public assistance, or the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act (15 U.S.C. 1600 et seq.)). To aid in implementation of this prohibition, the statute and regulation subject creditors to various mandatory disclosure requirements, notification provisions informing applicants of action taken on the credit application, provision of appraisal reports in connection with mortgages, credit history reporting, monitoring rules, and recordkeeping requirements. These requirements are triggered by specific events and disclosures must be provided within the time periods established by the statute and regulation. --------------------------------------------------------------------------- \1\ 15 U.S.C. 1691. The CFPB's Regulation B is located at 12 CFR part 1002. --------------------------------------------------------------------------- Legal authorization and confidentiality: The Board's Legal Division has determined that the CFPB is authorized to issue its Regulation B pursuant to its authority to prescribe regulations to carry out the purposes of ECOA (15 U.S.C. 1691b). The obligation to comply with the recordkeeping and disclosure requirements of CFPB's Regulation B is mandatory. Because the recordkeeping and disclosure requirements of the CFPB's Regulation B require creditors to retain their own records and to make certain disclosures to customers, the Freedom of Information Act (FOIA) would only be implicated if the Board's examiners retained a copy of this information as part of an examination a bank. Records obtained as a part of an examination or supervision of a bank are exempt from disclosure under FOIA exemption (b)(8), for examination material (5 U.S.C. 552(b)(8)). In addition, the records may also be exempt under (b)(4) or (b)(6). Records would be exempt under (b)(4) if the records contained ``trade secrets and commercial or financial information obtained from a person and privileged or confidential'' and the disclosure of the information would cause substantial harm to the competitive position of the respondents (5 U.S.C. 552(b)(4)). Records would be exempt under (b)(6) if the records contained personal information, the disclosure of which would ``constitute a clearly unwarranted invasion of personal privacy'' (5 U.S.C. 552(b)(6)). Board of Governors of the Federal Reserve System, April 9, 2018. Ann Misback, Secretary of the Board. [FR Doc. 2018-07668 Filed 4-12-18; 8:45 am] BILLING CODE 6210-01-P
![16098 Federal Register / Vol. 83, No. 72 / Friday, April 13, 2018 / Notices
Dated at Washington, DC, on April 9, 2018. order to inspect and photocopy c. Ways to enhance the quality,
Federal Deposit Insurance Corporation. comments. utility, and clarity of the information to
Robert E. Feldman, Additionally, commenters may send a be collected;
Executive Secretary. copy of their comments to the OMB d. Ways to minimize the burden of
[FR Doc. 2018–07635 Filed 4–12–18; 8:45 am] Desk Officer—Shagufta Ahmed—Office information collection on respondents,
BILLING CODE 6714–01–P of Information and Regulatory Affairs, including through the use of automated
Office of Management and Budget, New collection techniques or other forms of
Executive Office Building, Room 10235, information technology; and
FEDERAL RESERVE SYSTEM 725 17th Street NW, Washington, DC e. Estimates of capital or startup costs
20503 or by fax to (202) 395–6974. and costs of operation, maintenance,
Proposed Agency Information FOR FURTHER INFORMATION CONTACT: A and purchase of services to provide
Collection Activities; Comment copy of the PRA OMB submission, information.
Request including the proposed reporting form At the end of the comment period, the
and instructions, supporting statement, comments and recommendations
AGENCY: Board of Governors of the received will be analyzed to determine
Federal Reserve System. and other documentation will be placed
into OMB’s public docket files, once the extent to which the Federal Reserve
ACTION: Notice, request for comment. should modify the proposal prior to
approved. These documents will also be
made available on the Federal Reserve giving final approval.
SUMMARY: The Board of Governors of the
Federal Reserve System (Board) invites Board’s public website at: http:// Proposal To Approve Under OMB
comment on a proposal to extend for www.federalreserve.gov/apps/ Delegated Authority the Extension for
three years, without revision, the reportforms/review.aspx or may be Three Years, Without Revision, of the
Recordkeeping and Disclosure requested from the agency clearance Following Report
Requirements Associated with officer, whose name appears below.
Report title: Recordkeeping and
Consumer Financial Protection Bureau’s Federal Reserve Board Clearance
Disclosure Requirements Associated
(CFPB) Regulation B (Equal Credit Officer—Nuha Elmaghrabi—Office of
with Consumer Financial Protection
Opportunity Act) (FR B; OMB No. 7100– the Chief Data Officer, Board of
Bureau’s (CFPB) Regulation B (Equal
0201). Governors of the Federal Reserve
Credit Opportunity Act).
DATES: Comments must be submitted on System, Washington, DC 20551, (202) Agency form number: FR B.
or before June 12, 2018. 452–3829. Telecommunications Device OMB control number: 7100–0201.
for the Deaf (TDD) users may contact Frequency: Monthly; annually.
ADDRESSES: You may submit comments,
(202) 263–4869, Board of Governors of Respondents: State member banks;
identified by FR B, by any of the
the Federal Reserve System, subsidiaries of state member banks;
following methods:
• Agency Website: http:// Washington, DC 20551. subsidiaries of bank holding companies;
www.federalreserve.gov. Follow the SUPPLEMENTARY INFORMATION: On June U.S. branches and agencies of foreign
instructions for submitting comments at 15, 1984, the Office of Management and banks (other than federal branches,
http://www.federalreserve.gov/apps/ Budget (OMB) delegated to the Board federal agencies, and insured state
foia/proposedregs.aspx. authority under the Paperwork branches of foreign banks); commercial
• Email: regs.comments@ Reduction Act (PRA) to approve of and lending companies owned or controlled
federalreserve.gov. Include OMB assign OMB control numbers to by foreign banks; and organizations
number in the subject line of the collection of information requests and operating under section 25 or 25A of the
message. requirements conducted or sponsored Federal Reserve Act (12 U.S.C. 601–
• FAX: (202) 452–3819 or (202) 452– by the Board. In exercising this 604a; 611–631).
3102. delegated authority, the Board is Estimated number of respondents:
• Mail: Ann E. Misback, Secretary, directed to take every reasonable step to Notifications, furnishing of credit
Board of Governors of the Federal solicit comment. In determining information, record retention
Reserve System, 20th Street and whether to approve a collection of (applications, actions, and prescreened
Constitution Avenue NW, Washington, information, the Board will consider all solicitations), information for
DC 20551. comments received from the public and monitoring purposes, and rules on
All public comments are available other agencies. providing appraisal reports (providing
from the Board’s website at http:// appraisal report), 958 respondents; Self-
www.federalreserve.gov/apps/foia/ Request for Comment on Information testing: Record retention—incentives, 92
proposedregs.aspx as submitted, unless Collection Proposal respondents; Self-testing: Record
modified for technical reasons. The Board invites public comment on retention—self-correction, 23
Accordingly, your comments will not be the following information collection, respondents, and Self-testing: Record
edited to remove any identifying or which is being reviewed under retention—rules concerning requests for
contact information. Public comments authority delegated by the OMB under information (disclosure for optional self-
may also be viewed electronically or in the PRA. Comments are invited on the test), 92 respondents.
paper form in Room 3515, 1801 K Street following: Estimated average hours per response:
(between 18th and 19th Streets NW) a. Whether the proposed collection of Notifications, 6 hours; Furnishing of
Washington, DC 20006 between 9:00 information is necessary for the proper credit information, 2.5 hours; Record
a.m. and 5:00 p.m. on weekdays. For performance of the Federal Reserve’s retention (Applications, actions, and
daltland on DSKBBV9HB2PROD with NOTICES
security reasons, the Board requires that functions; including whether the prescreened solicitations), 8 hours;
visitors make an appointment to inspect information has practical utility; Information for monitoring purposes,
comments. You may do so by calling b. The accuracy of the Federal 0.25 hours; Rules on providing appraisal
(202) 452–3684. Upon arrival, visitors Reserve’s estimate of the burden of the reports (Providing appraisal report), 3
will be required to present valid proposed information collection, hours; Self-testing: Record retention—
government-issued photo identification including the validity of the incentives, 2 hours; Self-testing: Record
and to submit to security screening in methodology and assumptions used; retention—self-correction, 8 hours; and
VerDate Sep<11>2014 17:41 Apr 12, 2018 Jkt 244001 PO 00000 Frm 00055 Fmt 4703 Sfmt 4703 E:\FR\FM\13APN1.SGM 13APN1](https://thefederalregister.org/doc/83_FR_16170/page/1.svg)
![Federal Register / Vol. 83, No. 72 / Friday, April 13, 2018 / Notices 16099
Self-testing: Record retention—rules retained a copy of this information as Reserve System, Attn: Community
concerning requests for information part of an examination a bank. Records Advisory Council, Mail Stop I–305, 20th
(disclosure for optional self-test), 3.5 obtained as a part of an examination or Street and Constitution Ave. NW,
hours. supervision of a bank are exempt from Washington, DC 20551.
Estimated annual burden hours: disclosure under FOIA exemption (b)(8), FOR FURTHER INFORMATION CONTACT:
Notifications, 68,976 hours; Furnishing for examination material (5 U.S.C. Jennifer Fernandez, Community
of credit information, 28,740 hours; 552(b)(8)). In addition, the records may Development Analyst, Division of
Record retention (Applications, actions, also be exempt under (b)(4) or (b)(6). Consumer and Community Affairs,
and prescreened solicitations), 7,664 Records would be exempt under (b)(4) Board of Governors of the Federal
hours; Information for monitoring if the records contained ‘‘trade secrets Reserve System, 20th Street and
purposes, 2,874 hours; Rules on and commercial or financial information Constitution Ave. NW, Washington, DC
providing appraisal reports (Providing obtained from a person and privileged 20551, or (202) 452–2412, or CCA-CAC@
appraisal report), 34,488 hours; Self- or confidential’’ and the disclosure of frb.gov. Telecommunications Device for
testing: Record retention—incentives, the information would cause substantial the Deaf (TDD) users may contact (202)
184 hours; Self-testing: Record harm to the competitive position of the 263–4869.
retention—self-correction, 184 hours; respondents (5 U.S.C. 552(b)(4)). SUPPLEMENTARY INFORMATION: The Board
and Self-testing: Record retention—rules Records would be exempt under (b)(6) created the Community Advisory
concerning requests for information if the records contained personal Council (CAC) as an advisory committee
(disclosure for optional self-test), 3,864 information, the disclosure of which
hours. to the Board on issues affecting
would ‘‘constitute a clearly unwarranted consumers and communities. The CAC
General description of report: ECOA invasion of personal privacy’’ (5 U.S.C.
was enacted in 1974 and is is composed of a diverse group of
552(b)(6)). experts and representatives of consumer
implemented by the CFPB’s Regulation
B for institutions the Board supervises.1 Board of Governors of the Federal Reserve and community development
System, April 9, 2018. organizations and interests, including
The ECOA prohibits discrimination in
any aspect of a credit transaction Ann Misback, from such fields as affordable housing,
because of race, color, religion, national Secretary of the Board. community and economic development,
origin, sex, marital status, age (provided [FR Doc. 2018–07668 Filed 4–12–18; 8:45 am] employment and labor, financial
the applicant has the capacity to BILLING CODE 6210–01–P
services and technology, small business,
contract), or other specified bases and asset and wealth building. CAC
(receipt of public assistance, or the fact members meet semiannually with the
that the applicant has in good faith FEDERAL RESERVE SYSTEM members of the Board in Washington,
exercised any right under the Consumer DC to provide a range of perspectives on
Credit Protection Act (15 U.S.C. 1600 et Solicitation of Applications for the economic circumstances and
seq.)). To aid in implementation of this Membership on the Community financial services needs of consumers
prohibition, the statute and regulation Advisory Council and communities, with a particular
subject creditors to various mandatory focus on the concerns of low- and
AGENCY: Board of Governors of the
disclosure requirements, notification moderate-income consumers and
Federal Reserve System.
provisions informing applicants of communities. The CAC complements
ACTION: Notice. two of the Board’s other advisory
action taken on the credit application,
provision of appraisal reports in SUMMARY: The Board of Governors of the councils—the Community Depository
connection with mortgages, credit Federal Reserve System (Board) Institutions Advisory Council (CDIAC)
history reporting, monitoring rules, and established the Community Advisory and the Federal Advisory Council
recordkeeping requirements. These Council (the ‘‘CAC’’) as an advisory (FAC)—whose members represent
requirements are triggered by specific committee to the Board on issues depository institutions.
events and disclosures must be affecting consumers and communities. The CAC serves as a mechanism to
provided within the time periods This Notice advises individuals who gather feedback and perspectives on a
established by the statute and wish to serve as CAC members of the wide range of policy matters and
regulation. opportunity to be considered for the emerging issues of interest to the Board
Legal authorization and CAC. of Governors and aligns with the
confidentiality: The Board’s Legal Federal Reserve’s mission and current
Division has determined that the CFPB DATES: Applications received between responsibilities. These responsibilities
is authorized to issue its Regulation B Monday, April 16, 2018 and Friday, include, but are not limited to, banking
pursuant to its authority to prescribe June 15, 2018 will be considered for supervision and regulatory compliance
regulations to carry out the purposes of selection to the CAC for terms beginning (including the enforcement of consumer
ECOA (15 U.S.C. 1691b). The obligation January 1, 2019. protection laws), systemic risk oversight
to comply with the recordkeeping and ADDRESSES: Individuals who are and monetary policy decision-making,
disclosure requirements of CFPB’s interested in being considered for the and, in conjunction with the Office of
Regulation B is mandatory. Because the CAC may submit an application via the the Comptroller of the Currency (OCC)
recordkeeping and disclosure Board’s website or via email. The and Federal Deposit Insurance
requirements of the CFPB’s Regulation B application can be accessed at https:// Corporation (FDIC), responsibility for
require creditors to retain their own www.federalreserve.gov/secure/CAC/ implementation of the Community
daltland on DSKBBV9HB2PROD with NOTICES
records and to make certain disclosures Application/. Emailed submissions can Reinvestment Act (CRA).
to customers, the Freedom of be sent to CCA-CAC@frb.gov. The This Notice advises individuals of the
Information Act (FOIA) would only be information required for consideration opportunity to be considered for
implicated if the Board’s examiners is described below. appointment to the CAC. To assist with
If electronic submission is not the selection of CAC members, the
1 15 U.S.C. 1691. The CFPB’s Regulation B is feasible, submissions may be mailed to Board will consider the information
located at 12 CFR part 1002. the Board of Governors of the Federal submitted by the candidate along with
VerDate Sep<11>2014 17:41 Apr 12, 2018 Jkt 244001 PO 00000 Frm 00056 Fmt 4703 Sfmt 4703 E:\FR\FM\13APN1.SGM 13APN1](https://thefederalregister.org/doc/83_FR_16170/page/2.svg)
Document Created: 2018-04-13 00:18:06
Document Modified: 2018-04-13 00:18:06
| 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, request for comment. | |
| Dates | Comments must be submitted on or before June 12, 2018. | |
| Contact | A copy of the PRA OMB submission, including the proposed reporting form and instructions, supporting statement, and other documentation will be placed into OMB's public docket files, once approved. These documents will also be made available on the Federal Reserve Board's public website at: http:// www.federalreserve.gov/apps/reportforms/review.aspx or may be requested from the agency clearance officer, whose name appears below. | |
| FR Citation | 83 FR 16098 |
2024 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR