83 FR 56402 - Agency Information Collection Activities: Information Collection Renewal; Request for Comment; Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency Federal Register Volume 83, Issue 219 (November 13, 2018)
Office of the Comptroller of the Currency
Federal Register Volume 83, Issue 219 (November 13, 2018)
| Page Range | 56402-56404 | |
| FR Document | 2018-24615 |
[Federal Register Volume 83, Number 219 (Tuesday, November 13, 2018)] [Notices] [Pages 56402-56404] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-24615] ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Request for Comment; Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003 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). An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid OMB control number. The OCC is soliciting comment concerning the renewal of its information collection titled, ``Identity Theft Red Flags and Address Discrepancies under the Fair and Accurate Credit Transactions Act of 2003.'' DATES: Comments must be received by January 14, 2019. ADDRESSES: Commenters are encouraged to submit comments by email, if possible. You may submit comments by any of the following methods:Email: [email protected]. Mail: Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, Attention: 1557-0237, 400 7th Street SW, Suite 3E-218, Washington, DC 20219. Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, Washington, DC 20219. Fax: (571) 465-4326. Instructions: You must include ``OCC'' as the agency name and ``1557-0237'' in your comment. In general, the OCC will publish your comment on www.reginfo.gov without change, including any business or personal information that you provide, such as name and address information, email addresses, or phone numbers. 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 [[Page 56403]] you consider confidential or inappropriate for public disclosure. You may review comments and other related materials that pertain to this information collection beginning on the date of publication of the second notice for this collection \1\ by any of the following methods: --------------------------------------------------------------------------- \1\ Following the close of the 60-day comment period for this notice, the OCC will publish a notice for 30 days of comment for this collection. --------------------------------------------------------------------------- Viewing Comments Electronically: Go to www.reginfo.gov. Click on the ``Information Collection Review'' tab. Underneath the ``Currently under Review'' section heading, from the drop-down menu, select ``Department of Treasury'' and then click ``submit.'' This information collection can be located by searching by OMB control number ``1557-0237'' or ``Identity Theft Red Flags and Address Discrepancies under the Fair and Accurate Credit Transactions Act of 2003.'' Upon finding the appropriate information collection, click on the related ``ICR Reference Number.'' On the next screen, select ``View Supporting Statement and Other Documents'' and then click on the link to any comment listed at the bottom of the screen. For assistance in navigating www.reginfo.gov, please contact the Regulatory Information Service Center at (202) 482-7340. Viewing Comments Personally: You may personally inspect comments at the OCC, 400 7th Street SW, Washington, DC. 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 comments. FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer, (202) 649-5490 or, for persons who are deaf or hearing impaired, TTY, (202) 649-5597, Chief Counsel's Office, 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 and requirements that members of the public submit reports, keep records, or provide information to a third party. Section 3506(c)(2)(A) of part 44 (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 proposed extension of this collection of information. Title: Identity Theft Red Flags and Address Discrepancies under the Fair and Accurate Credit Transactions Act of 2003. OMB Control No.: 1557-0237. Description: Section 114 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act) \2\ amended section 615 of the Fair Credit Reporting Act (FCRA) \3\ to require the Agencies \4\ to issue jointly: --------------------------------------------------------------------------- \2\ 15 U.S.C. 1681m(e). \3\ 15 U.S.C. 1681m. \4\ Section 114 required the guidelines and regulations to be issued jointly by the federal banking agencies (OCC, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation), the National Credit Union Administration, and the Federal Trade Commission. Therefore, for purposes of this filing, ``Agencies'' refers to these entities. Note that Section 1088(a)(8) of the Dodd-Frank Act further amended section 615 of FCRA to also require the Securities and Exchange Commission and the Commodity Futures Trading Commission to issue Red Flags guidelines and regulations. --------------------------------------------------------------------------- Guidelines for financial institutions and creditors regarding identity theft with respect to their account holders and customers; (in developing the guidelines, the Agencies are required to identify patterns, practices, and specific forms of activity that indicate the possible existence of identity theft; the guidelines must be updated as often as necessary and must be consistent with the policies and procedures required under section 326 of the USA PATRIOT Act, (31 U.S.C. 5318(l)); Regulations that require each financial institution and each creditor to establish reasonable policies and procedures for implementing the guidelines in order to identify possible risks to account holders or customers or to the safety and soundness of the institution or creditor; and Regulations generally requiring credit and debit card issuers to assess the validity of change of address requests under certain circumstances. Section 315 of the FACT Act also amended section 605 of FCRA to require the Agencies to issue regulations providing guidance regarding what reasonable policies and procedures a user of consumer reports must have in place and employ when a user receives a notice of address discrepancy from a consumer reporting agency (CRA). These regulations are required to describe reasonable policies and procedures for users of consumer reports to: Enable a user to form a reasonable belief that it knows the identity of the person for whom it has obtained a consumer report; and Reconcile the address of the consumer with the CRA, if the user establishes a continuing relationship with the consumer and regularly and, in the ordinary course of business, furnishes information to the CRA. As required by section 114 of the FACT Act, appendix J to 12 CFR part 41 contains guidelines for financial institutions and creditors to use in identifying patterns, practices, and specific forms of activity that may indicate the existence of identity theft. In addition, 12 CFR 41.90 requires each financial institution or creditor that is a national bank, federal savings association, federal branch or agency of a foreign bank, and any of their operating subsidiaries that are not functionally regulated, to establish an Identity Theft Prevention Program (Program) designed to detect, prevent, and mitigate identity theft in connection with accounts. Pursuant to Sec. 41.91, credit card and debit card issuers must implement reasonable policies and procedures to assess the validity of a request for a change of address under certain circumstances. Section 41.90 requires each OCC-regulated financial institution or creditor that offers or maintains one or more covered accounts to develop and implement a Program. In developing a Program, financial institutions and creditors are required to consider the guidelines in appendix J and include the suggested provisions, as appropriate. The initial Program must be approved by the institution's board of directors or by an appropriate committee thereof. The board, an appropriate committee thereof, or a designated employee at the level of senior management must be involved in the oversight of the Program. In addition, staff members must be trained to carry out the Program. Pursuant to Sec. 41.91, each credit and debit card issuer is required to establish and implement policies and procedures to assess the validity of a change of address request if it is followed by a request for an additional or replacement card. Before issuing the additional or replacement card, the card issuer must notify the cardholder of the request and provide the cardholder a reasonable means to report incorrect address changes or use another means to assess the validity of the change of address. [[Page 56404]] As required by section 315 of the FACT Act, Sec. 1022.82 \5\ requires users of consumer reports to have in place reasonable policies and procedures that must be followed when a user receives a notice of address discrepancy from a CRA. --------------------------------------------------------------------------- \5\ Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act transferred this regulation to the BCFP. The OCC retains enforcement authority for this regulation for institutions with $10 billion in total assets or less. --------------------------------------------------------------------------- Section 1022.82 requires each user of consumer reports to develop and implement reasonable policies and procedures designed to enable the user to form a reasonable belief that a consumer report relates to the consumer about whom it requested the report when it receives a notice of address discrepancy from a CRA. A user of consumer reports also must develop and implement reasonable policies and procedures for furnishing a customer address that the user has reasonably confirmed to be accurate to the CRA from which it receives a notice of address discrepancy when the user can: (1) Form a reasonable belief that the consumer report relates to the consumer about whom the user has requested the report; (2) establish a continuing relationship with the consumer; and (3) establish that it regularly and in the ordinary course of business furnishes information to the CRA from which it received the notice of address discrepancy. Type of Review: Regular. Affected Public: Individuals; Businesses or other for-profit. Estimated Number of Respondents: 1,186. Estimated Total Annual Burden: 132,007 hours. Comments submitted in response to this notice will be summarized, included in the request for OMB approval, and 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 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: November 6, 2018. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2018-24615 Filed 11-9-18; 8:45 am] BILLING CODE P
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management; mark-to-market and copy of the report upon request to any DEPARTMENT OF THE TREASURY
amortized cost net asset values; dollar- person for a reasonable charge.
weighted average portfolio maturity; Office of the Comptroller of the
Twelve CFR 9.18(c)(5) (and 150.260
dollar-weighted average portfolio life Currency
by cross-reference) require that, for
maturity as of the last business day of special exemption CIFs, national banks
the prior calendar month; and certain Agency Information Collection
and FSAs must submit to the OCC a Activities: Information Collection
other security-level information for each
written plan that sets forth: Renewal; Request for Comment;
security held.
Twelve CFR 9.18(b)(4)(iii)(J) (and • The reason the proposed fund Identity Theft Red Flags and Address
150.260 by cross-reference) require that requires a special exemption; Discrepancies Under the Fair and
national banks and FSAs adopt, for Accurate Credit Transactions Act of
• The provisions of the fund that are
STIFs, procedures that require a 2003
inconsistent with 12 CFR 9.18(a) and
national bank or FSA that manages a (b); AGENCY: Office of the Comptroller of the
STIF to notify the OCC prior to or Currency (OCC), Treasury.
within one business day thereafter of • The provisions of 12 CFR 9.18(b) for
which the national bank or FSA seeks ACTION: Notice and request for
certain events.
an exemption; and comment.
Twelve CFR 9.18(b)(4)(iii)(K) (and
150.260 by cross-reference) require that • The manner in which the proposed SUMMARY: The OCC, as part of its
national banks and FSAs adopt, for fund addresses the rights and interests continuing effort to reduce paperwork
STIFs, certain procedures in the event of participating accounts. and respondent burden, invites the
that the STIF has repriced its net asset general public and other federal
value below $0.995 per participating Type of Review: Regular.
agencies to take this opportunity to
interest. Affected Public: Businesses or other comment on a continuing information
Twelve CFR 9.18(b)(4)(iii)(L) (and for-profit. collection as required by the Paperwork
150.260 by cross-reference) require that Estimated Number of Respondents: Reduction Act of 1995 (PRA).
national banks and FSAs adopt, for 320. An agency may not conduct or
STIFs, procedures for initiating sponsor, and a respondent is not
liquidation of a STIF upon the Frequency of Response: On occasion.
required to respond to, an information
suspension or limitation of withdrawals Estimated Total Annual Burden: collection unless it displays a currently
as a result of redemptions. 115,125 hours. valid OMB control number.
Twelve CFR 9.18(b)(6)(ii) (and Comments submitted in response to The OCC is soliciting comment
150.260 by cross-reference) require, for concerning the renewal of its
this notice will be summarized,
CIFs, that national banks and FSAs, at information collection titled, ‘‘Identity
included in the request for OMB
least once during each 12-month period, Theft Red Flags and Address
prepare a financial report of the fund approval, and become a matter of public
record. Comments are invited on: Discrepancies under the Fair and
based on the audit required by 12 CFR Accurate Credit Transactions Act of
9.18(b)(6)(i). The report must disclose (a) Whether the collection of 2003.’’
the fund’s fees and expenses in a information is necessary for the proper
manner consistent with applicable state performance of the functions of the DATES: Comments must be received by
law in the state in which the national OCC, including whether the information January 14, 2019.
bank or FSA maintains the fund and has practical utility; ADDRESSES: Commenters are encouraged
must contain: to submit comments by email, if
(b) The accuracy of the OCC’s
• A list of investments in the fund possible. You may submit comments by
estimate of the burden of the collection any of the following methods:
showing the cost and current market
of information; • Email: prainfo@occ.treas.gov.
value of each investment;
• A statement covering the period (c) Ways to enhance the quality, • Mail: Legislative and Regulatory
after the previous report showing the utility, and clarity of the information to Activities Division, Office of the
following (organized by type of be collected; Comptroller of the Currency, Attention:
investment): 1557–0237, 400 7th Street SW, Suite
(d) Ways to minimize the burden of
Æ A summary of purchases (with 3E–218, Washington, DC 20219.
the collection on respondents, including • Hand Delivery/Courier: 400 7th
costs);
Æ A summary of sales (with profit or through the use of automated collection Street SW, Suite 3E–218, Washington,
loss and any investment change); techniques or other forms of information DC 20219.
Æ Income and disbursements; and technology; and • Fax: (571) 465–4326.
Æ An appropriate notation of any (e) Estimates of capital or start-up Instructions: You must include
investments in default. costs and costs of operation, ‘‘OCC’’ as the agency name and ‘‘1557–
Twelve CFR 9.18(b)(6)(iv) (and maintenance, and purchase of services 0237’’ in your comment. In general, the
150.260 by cross-reference) require that to provide information. OCC will publish your comment on
a national bank or FSA managing a CIF www.reginfo.gov without change,
provide a copy of the financial report, Dated: November 6, 2018. including any business or personal
or provide notice that a copy of the Theodore J. Dowd, information that you provide, such as
report is available upon request without Deputy Chief Counsel, Office of the name and address information, email
amozie on DSK3GDR082PROD with NOTICES1
charge, to each person who ordinarily Comptroller of the Currency. addresses, or phone numbers.
would receive a regular periodic [FR Doc. 2018–24612 Filed 11–9–18; 8:45 am] Comments received, including
accounting with respect to each BILLING CODE 4810–33–P attachments and other supporting
participating account. The national bank materials, are part of the public record
or FSA may provide a copy to and subject to public disclosure. Do not
prospective customers. In addition, the include any information in your
national bank or FSA must provide a comment or supporting materials that
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As required by section 315 of the through the use of automated collection property before the close of the
FACT Act, § 1022.82 5 requires users of techniques or other forms of information recapture period used in figuring the
consumer reports to have in place technology; and original investment credit. Form 4255
reasonable policies and procedures that (e) Estimates of capital or start-up provides for the computation of the
must be followed when a user receives costs and costs of operation, recapture tax.
a notice of address discrepancy from a maintenance, and purchase of services Current Actions: There are no changes
CRA. to provide information. being made to the form at this time.
Section 1022.82 requires each user of Dated: November 6, 2018.
consumer reports to develop and Type of Review: Extension of a
Theodore J. Dowd, currently approved collection.
implement reasonable policies and
procedures designed to enable the user Deputy Chief Counsel, Office of the Affected Public: Business or other for-
Comptroller of the Currency. profit organizations, individuals, and
to form a reasonable belief that a
[FR Doc. 2018–24615 Filed 11–9–18; 8:45 am] farms.
consumer report relates to the consumer
about whom it requested the report BILLING CODE P
Estimated Number of Respondents:
when it receives a notice of address 13,200.
discrepancy from a CRA. A user of Estimated Time per Respondent: 9
consumer reports also must develop and DEPARTMENT OF THE TREASURY
hrs. 49 min.
implement reasonable policies and Internal Revenue Service
procedures for furnishing a customer Estimated Total Annual Burden
address that the user has reasonably Hours: 129,492.
Proposed Collection; Comment
confirmed to be accurate to the CRA Request for Form 4255 The following paragraph applies to all
from which it receives a notice of of the collections of information covered
address discrepancy when the user can: AGENCY: Internal Revenue Service (IRS), by this notice:
(1) Form a reasonable belief that the Treasury. An agency may not conduct or
consumer report relates to the consumer ACTION: Notice and request for sponsor, and a person is not required to
about whom the user has requested the comments. respond to, a collection of information
report; (2) establish a continuing unless the collection of information
relationship with the consumer; and (3) SUMMARY: The Internal Revenue Service
displays a valid OMB control number.
establish that it regularly and in the (IRS), as part of its continuing effort to
Books or records relating to a collection
ordinary course of business furnishes reduce paperwork and respondent
of information must be retained as long
information to the CRA from which it burden, invites the general public and
as their contents may become material
received the notice of address other Federal agencies to take this
in the administration of any internal
discrepancy. opportunity to comment on information
revenue law. Generally, tax returns and
Type of Review: Regular. collections, as required by the
tax return information are confidential,
Affected Public: Individuals; Paperwork Reduction Act of 1995. The
as required by 26 U.S.C. 6103.
Businesses or other for-profit. IRS is soliciting comments concerning
Estimated Number of Respondents: Recapture of Investment Credit. Request for Comments: Comments
1,186. DATES: Written comments should be
submitted in response to this notice will
Estimated Total Annual Burden: received on or before January 14, 2019 be summarized and/or included in the
132,007 hours. to be assured of consideration. request for OMB approval. Comments
Comments submitted in response to will be of public record. Comments are
ADDRESSES: Direct all written comments
this notice will be summarized, invited on: (a) Whether the collection of
to Laurie Brimmer, Internal Revenue information is necessary for the proper
included in the request for OMB
Service, Room 6526, 1111 Constitution performance of the functions of the
approval, and become a matter of public
Avenue NW, Washington, DC 20224. agency, including whether the
record. Comments are invited on:
(a) Whether the collection of FOR FURTHER INFORMATION CONTACT: information has practical utility; (b) the
information is necessary for the proper Requests for additional information or accuracy of the agency’s estimate of the
performance of the functions of the copies of the form and instructions burden of the collection of information;
OCC, including whether the information should be directed to Martha R. Brinson, (c) ways to enhance the quality, utility,
has practical utility; at (202) 317–5753, or at Internal and clarity of the information to be
(b) The accuracy of the OCC’s Revenue Service, Room 6526, 1111 collected; (d) ways to minimize the
estimate of the burden of the collection Constitution Avenue NW, Washington, burden of the collection of information
of information; DC 20224, or through the internet at on or other forms of information
(c) Ways to enhance the quality, Martha.R.Brinson@irs.gov. technology; and (e) estimates of capital
utility, and clarity of the information to SUPPLEMENTARY INFORMATION: or start-up costs and costs of operation,
be collected; Title: Recapture of Investment Credit. maintenance, and purchase of services
(d) Ways to minimize the burden of OMB Number: 1545–0166. to provide information.
the collection on respondents, including Form Number: 4255.
Approved: October 25, 2018.
Abstract: Internal Revenue Code
5 Title X of the Dodd-Frank Wall Street Reform section 50(a) requires that a taxpayer’s Laurie Brimmer,
and Consumer Protection Act transferred this Senior Tax Analyst.
regulation to the BCFP. The OCC retains
income tax be increased by the
enforcement authority for this regulation for investment credit recapture tax if the [FR Doc. 2018–24666 Filed 11–9–18; 8:45 am]
amozie on DSK3GDR082PROD with NOTICES1
institutions with $10 billion in total assets or less. taxpayer disposes of investment credit BILLING CODE 4830–01–P
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Document Created: 2018-11-10 03:18:22
Document Modified: 2018-11-10 03:18:22
| 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 January 14, 2019. | |
| Contact | Shaquita Merritt, Clearance Officer, (202) 649-5490 or, for persons who are deaf or hearing impaired, TTY, (202) 649-5597, Chief Counsel's Office, Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219. | |
| FR Citation | 83 FR 56402 |
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