83 FR 52452 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 83, Issue 201 (October 17, 2018)

Page Range		52452-52453
FR Document		2018-22551

The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Disclosure Requirements of Subpart H of Regulation H (Consumer Protections in Sales of Insurance) (Reg H-7; OMB No. 7100- 0298).

Federal Register, Volume 83 Issue 201 (Wednesday, October 17, 2018)

[Federal Register Volume 83, Number 201 (Wednesday, October 17, 2018)]
[Notices]
[Pages 52452-52453]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-22551]


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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 Disclosure Requirements of Subpart H of Regulation H 
(Consumer Protections in Sales of Insurance) (Reg H-7; OMB No. 7100-
0298).

DATES: Comments must be submitted on or before December 17, 2018.

ADDRESSES: You may submit comments, identified by Reg H-7, 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, NW (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, if approved. These documents will also be made available 
on the 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 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 Board's functions, including whether the 
information has practical utility;
    b. The accuracy of the Board'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 Board 
should modify the proposal.

Proposal To Approve Under OMB Delegated Authority the Extension for 
Three Years, Without Revision, of the Following Report

    Report title: Disclosure Requirements of subpart H of Regulation H 
(Consumer Protections in Sales of Insurance).
    Agency form number: Reg H-7.
    OMB control number: 7100-0298.
    Frequency: On occasion.
    Respondents: State member banks and other persons.
    Estimated number of respondents: 822.
    Estimated time per response: 1.5 minutes.
    Estimated annual burden hours: 12,947.
    General description of report: Subpart H of Regulation H was 
adopted by the Board in 2003 pursuant to section 305 of the Gramm-
Leach-Bliley Act of 1999 (GLBA), which required the federal banking 
agencies to issue joint regulations governing retail sales practices, 
solicitations, advertising, and offers of insurance by, on behalf of, 
or at the offices of insured depository institutions. The insurance 
consumer protection rules in Regulation H, which apply to the sale of 
insurance by a state member bank or by any other person at

[[Page 52453]]

an office of the bank or on behalf of the bank (collectively, ``Covered 
Persons''), require Covered Persons to prepare and provide certain 
disclosures to consumers. Covered Persons are required to make certain 
written and oral disclosures before the completion of the initial sale 
of an insurance product or annuity to a consumer and at the time a 
consumer applies for an extension of credit in connection with which an 
insurance product or annuity is solicited, offered, or sold (see 12 CFR 
208.84(a)-(d)).
    Legal authorization and confidentiality: Section 305 of the GLBA 
requires that the Board issue regulations, including disclosure 
requirements, applicable to retail sales practices, solicitations, 
advertising, or offers of insurance by depository institutions (12 
U.S.C. 1831x). The disclosure requirements described above are 
contained in subpart H of the Board's Regulation H. 12 CFR part 208, 
subpart H. The disclosures required under subpart H are mandatory. 
Because Regulation H-7 disclosures are provided by Covered Persons to 
customers, confidentiality issues should generally not arise. However, 
if the Board obtains any institution-specific information during an 
examination of a state member bank, such information may be protected 
under exemption (b)(8) of the Freedom of Information Act, which exempts 
from disclosure materials related to the examination of financial 
institutions (5 U.S.C. 552(b)(8)).


Board of Governors of the Federal Reserve System, October 11, 2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-22551 Filed 10-16-18; 8:45 am]
 BILLING CODE 6210-01-P

52452 Federal Register / Vol. 83, No. 201 / Wednesday, October 17, 2018 / Notices

C. Comments Request Accordingly, your comments will not be Request for Comment on Information
FHFA requests written comments on edited to remove any identifying or Collection Proposal
the following: (1) Whether the collection contact information. Public comments The Board invites public comment on
of information is necessary for the may also be viewed electronically or in the following information collection,
proper performance of FHFA functions, paper form in Room 3515, 1801 K which is being reviewed under
including whether the information has Street, NW (between 18th and 19th authority delegated by the OMB under
practical utility; (2) the accuracy of Streets NW) Washington, DC 20006 the PRA. Comments are invited on the
FHFA’s estimates of the burdens of the between 9:00 a.m. and 5:00 p.m. on following:
collection of information; (3) ways to weekdays. For security reasons, the a. Whether the proposed collection of
enhance the quality, utility, and clarity Board requires that visitors make an information is necessary for the proper
of the information collected; and (4) appointment to inspect comments. You performance of the Board’s functions,
ways to minimize the burden of the may do so by calling (202) 452–3684. including whether the information has
collection of information on Upon arrival, visitors will be required to practical utility;
respondents, including through the use present valid government-issued photo b. The accuracy of the Board’s
of automated collection techniques or identification and to submit to security estimate of the burden of the proposed
other forms of information technology. screening in order to inspect and information collection, including the
Dated: October 12. 2018. photocopy comments. validity of the methodology and
Kevin Winkler, assumptions used;
Additionally, commenters may send a c. Ways to enhance the quality,
Chief Information Officer, Federal Housing copy of their comments to the OMB
Finance Agency. utility, and clarity of the information to
Desk Officer—Shagufta Ahmed—Office be collected;
[FR Doc. 2018–22667 Filed 10–16–18; 8:45 am] of Information and Regulatory Affairs, d. Ways to minimize the burden of
BILLING CODE 8070–01–P Office of Management and Budget, New information collection on respondents,
Executive Office Building, Room 10235, including through the use of automated
725 17th Street, NW, Washington, DC collection techniques or other forms of
FEDERAL RESERVE SYSTEM 20503, or by fax to (202) 395–6974. information technology; and
FOR FURTHER INFORMATION CONTACT: A e. Estimates of capital or startup costs
Proposed Agency Information
and costs of operation, maintenance,
Collection Activities; Comment copy of the PRA OMB submission,
and purchase of services to provide
Request including the proposed reporting form
information.
and instructions, supporting statement,
AGENCY: Board of Governors of the At the end of the comment period, the
Federal Reserve System. and other documentation will be placed comments and recommendations
into OMB’s public docket files, if received will be analyzed to determine
ACTION: Notice, request for comment.
approved. These documents will also be the extent to which the Board should
SUMMARY: The Board of Governors of the made available on the Board’s public modify the proposal.
Federal Reserve System (Board) invites website at http://
comment on a proposal to extend for www.federalreserve.gov/apps/ Proposal To Approve Under OMB
three years, without revision, the reportforms/review.aspx or may be Delegated Authority the Extension for
Disclosure Requirements of Subpart H requested from the agency clearance Three Years, Without Revision, of the
of Regulation H (Consumer Protections officer, whose name appears below. Following Report
in Sales of Insurance) (Reg H–7; OMB Federal Reserve Board Clearance Report title: Disclosure Requirements
No. 7100–0298). Officer—Nuha Elmaghrabi—Office of of subpart H of Regulation H (Consumer
DATES: Comments must be submitted on the Chief Data Officer, Board of Protections in Sales of Insurance).
or before December 17, 2018. Agency form number: Reg H–7.
Governors of the Federal Reserve
ADDRESSES: You may submit comments, OMB control number: 7100–0298.
System, Washington, DC 20551, (202)
identified by Reg H–7, by any of the Frequency: On occasion.
452–3829. Telecommunications Device Respondents: State member banks and
following methods: for the Deaf (TDD) users may contact
• Agency Website: http:// (202) 263–4869, Board of Governors of
other persons.
www.federalreserve.gov. Follow the Estimated number of respondents:
the Federal Reserve System, 822.
instructions for submitting comments at
Washington, DC, 20551. Estimated time per response: 1.5
http://www.federalreserve.gov/apps/
foia/proposedregs.aspx. SUPPLEMENTARY INFORMATION: On June minutes.
• Email: regs.comments@ 15, 1984, the Office of Management and Estimated annual burden hours:
federalreserve.gov. Include OMB Budget (OMB) delegated to the Board 12,947.
number in the subject line of the authority under the Paperwork General description of report: Subpart
message. Reduction Act (PRA) to approve and H of Regulation H was adopted by the
• FAX: (202) 452–3819 or (202) 452– assign OMB control numbers to Board in 2003 pursuant to section 305
3102. of the Gramm-Leach-Bliley Act of 1999
collection of information requests and
• Mail: Ann E. Misback, Secretary, (GLBA), which required the federal
requirements conducted or sponsored
Board of Governors of the Federal banking agencies to issue joint
by the Board. In exercising this regulations governing retail sales
Reserve System, 20th Street and
daltland on DSKBBV9HB2PROD with NOTICES

Constitution Avenue NW, Washington, delegated authority, the Board is practices, solicitations, advertising, and
DC 20551. directed to take every reasonable step to offers of insurance by, on behalf of, or
All public comments are available solicit comment. In determining at the offices of insured depository
from the Board’s website at http:// whether to approve a collection of institutions. The insurance consumer
www.federalreserve.gov/apps/foia/ information, the Board will consider all protection rules in Regulation H, which
proposedregs.aspx as submitted, unless comments received from the public and apply to the sale of insurance by a state
modified for technical reasons. other agencies. member bank or by any other person at

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Document Created: 2018-10-17 01:47:55
Document Modified: 2018-10-17 01:47:55

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 December 17, 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, if approved. These documents will also be made available on the 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 52452