[Federal Register Volume 66, Number 246 (Friday, December 21, 2001)]
[Rules and Regulations]
[Pages 65817-65822]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-31053]


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DEPARTMENT OF THE TREASURY

Office of Thrift Supervision

12 CFR Parts 500, 505, 506, 516, 517, 541, 543, 544, 545, 546, 552, 
556, 560, 561, 563, 563d, 563g, 565, 568, 570, 573, 583, and 590

[No. 2001-84]


Technical Amendments

AGENCY: Office of Thrift Supervision, Treasury.

ACTION: Final rule.

-----------------------------------------------------------------------

SUMMARY: The Office of Thrift Supervision (OTS) is amending its 
regulations to incorporate a number of technical and conforming 
amendments. They include clarifications, updated statutory and other 
references, and corrections of typographical errors.

EFFECTIVE DATE: December 21, 2001.

FOR FURTHER INFORMATION CONTACT: Marilyn K. Burton, Senior Paralegal 
(Regulations), (202) 906-6467, or Karen A. Osterloh, Assistant Chief 
Counsel, (202) 906-6639, Regulations and Legislation Division, Chief 
Counsel's Office, Office of Thrift Supervision, 1700 G Street, NW., 
Washington, DC 20552.

SUPPLEMENTARY INFORMATION: OTS is amending its regulations to 
incorporate a number of technical and conforming amendments. These 
changes are outlined below.
    OTS is changing the headings for several parts to more accurately 
reflect the contents. The following chart illustrates the changes made 
by this rule:

[[Page 65818]]



------------------------------------------------------------------------
            Part                    Old title             New title
------------------------------------------------------------------------
500.........................  Organization and      Agency Organization
                               Channeling of         and Functions
                               Functions.
516.........................  Application           Application
                               Processing            Procedures
                               Guidelines and        Processing
                               Procedures.
517.........................  The Minority, Women,  Contracting Outreach
                               and Individuals       Programs
                               with Disabilities
                               Outreach Program:
                               Contracting for
                               Goods and Services.
541.........................  Definitions.........  Definitions for
                                                     Regulations
                                                     Affecting Federal
                                                     Savings
                                                     Associations
543.........................  Incorporation,        Federal Mutual
                               Organization, and     Associations
                               Conversion of         Savings--Incorporat
                               Federal Mutual        ion, Organization,
                               Associations.         and Conversion
544.........................  Charter and Bylaws..  Federal Mutual
                                                     Savings
                                                     Associations--Chart
                                                     er and Bylaws
545.........................  Operations..........  Federal Savings
                                                     Associations--Opera
                                                     tions
546.........................  Merger, Dissolution,  Federal Mutual
                               Reorganization, and   Savings
                               Conversion.           Associations--Merge
                                                     r, Dissolution,
                                                     Reorganization, and
                                                     Conversion
552.........................  Incorporation,        Federal Stock
                               Organization, and     Associations--Incor
                               Conversion of         poration,
                               Federal Stock         Organization, and
                               Associations.         Conversion
561.........................  Definitions.........  Definitions for
                                                     Regulations
                                                     Affecting All
                                                     Savings
                                                     Associations
563.........................  Operations..........  Savings
                                                     Associations--Opera
                                                     tions
568.........................  Security Procedures.  Security Procedures
                                                     under the Bank
                                                     Protection Act
570.........................  Submission and        Safety and Soundness
                               Review of Safety      Guidelines and
                               and Soundness         Compliance
                               Compliance Plans      Procedures
                               and Issuance of
                               Orders to Correct
                               Safety and
                               Soundness
                               Deficiencies.
583.........................  Definitions.........  Definitions for
                                                     Regulations
                                                     Affecting Savings
                                                     and Loan Holding
                                                     Companies
------------------------------------------------------------------------

    In addition, OTS makes the following miscellaneous changes:
     Part 505--Freedom of Information Act (FOIA). The final 
rule revises Secs. 505.1 to 505.4, which describe the availability of 
materials under FOIA and the procedures for requests for records and 
administrative appeals. The final rule indicates that materials are 
available through the Dissemination Branch, General Law Division and 
the Public Reading Room, and that the Public Reading Room is available 
only by appointment. The final rule also provides that requests for 
records and administrative appeals of initial determinations to deny 
records must be submitted to the Dissemination Branch, General Law 
Division.
     Part 506--Information Collection Requirements under the 
Paperwork Reduction Act (PRA). The final rule updates the table 
displaying the OMB control numbers assigned to various OTS regulations 
under the PRA by inserting additional references to the control numbers 
and by correcting minor typographical errors. See 12 CFR 506.1(b).
     Part 516--Application Processing Guidelines and 
Procedures. The final rule updates Sec. 516.40 to include current 
addresses for OTS Regional Offices.
     Part 556--Statements of Policy. This final rule moves the 
statement of policy on branching at 12 CFR 556.5 to 12 CFR 545.93. This 
provision will now directly follow OTS rules on branch offices and 
branch office applications at 12 CFR 545.92. The only remaining 
provision in part 556 is the policy statement on receipt of interest 
expressed as a percentage of other income. See 12 CFR 556.13. This 
policy statement has limited applicability and is adequately addressed 
in various OTS legal opinions. See Op. Chief Counsel (May 3, 1996). OTS 
has concluded that it is unnecessary to continue to include this policy 
statement in its rules. Accordingly, this final rule deletes part 556.
     Part 560--Lending and Investment. The final rule corrects 
the indentation in the supervisory loan-to-value limits chart in the 
Appendix to Sec. 560.101.
     Part 563d--Securities of Savings Associations and Part 
563g--Securities Offerings. The final rule updates the filing 
requirements at Secs. 563d.1, 563d.2, 563g.5, and 563g.18.
     Part 565--Prompt Corrective Action. The final rule 
corrects a statutory citation in Sec. 565.4(b)(1)(iv).
     Part 568--Security Procedures. The final rule corrects the 
authority citation for this part.
     Part 573--Privacy of Consumer Financial Information. The 
final rule adds a phrase that was inadvertently omitted from 
Sec. 573.15(a)(7)(ii). This change conforms this section to the text of 
the rule published on 65 FR 35162 (June 1, 2000).
     Part 590--Preemption of State Usury Laws. OTS is 
correcting a grammatical error in Sec. 590.3(c).

Administrative Procedure Act; Riegle Community Development and 
Regulatory Improvement Act of 1994

    OTS finds that there is good cause to dispense with prior notice 
and comment on this final rule and with the 30-day delay of effective 
date mandated by the Administrative Procedure Act.\1\ OTS believes that 
these procedures are unnecessary and contrary to public interest 
because the rule merely corrects and clarifies existing provisions. 
Because the amendments in the rule are not substantive, these changes 
will not detrimentally affect savings associations.
---------------------------------------------------------------------------

    \1\ 5 U.S.C. 553.
---------------------------------------------------------------------------

    Section 302 of the Riegle Community Development and Regulatory 
Improvement Act of 1994 provides that regulations that impose 
additional reporting, disclosure, or other new requirements may not 
take effect before the first day of the quarter following 
publication.\2\ This section does not apply because this final rule 
imposes no additional requirements and makes only technical changes to 
existing regulations.
---------------------------------------------------------------------------

    \2\ Pub. L. 103-325, 12 U.S.C. 4802.
---------------------------------------------------------------------------

Regulatory Flexibility Act

    Pursuant to section 605(b) of the Regulatory Flexibility Act,\3\ 
the OTS Director certifies that this technical corrections regulation 
will not have a significant economic impact on a substantial number of 
small entities.
---------------------------------------------------------------------------

    \3\ Pub. L. 96-354, 5 U.S.C. 601.
---------------------------------------------------------------------------

Executive Order 12866

    OTS has determined that this rule is not a ``significant regulatory 
action'' for purposes of Executive Order 12866.

[[Page 65819]]

Unfunded Mandates Reform Act of 1995

    OTS has determined that the requirements of this final rule will 
not result in expenditures by State, local, and tribal governments, or 
by the private sector, of $100 million or more in any one year. 
Accordingly, a budgetary impact statement is not required under section 
202 of the Unfunded Mandates Reform Act of 1995.

List of Subjects

12 CFR Part 500

    Organization and functions (Government agencies).

12 CFR Part 505

    Freedom of information.

12 CFR Part 506

    Reporting and recordkeeping requirements.

12 CFR Part 516

    Administrative practice and procedure, Reporting and recordkeeping 
requirements, Savings associations.

12 CFR Part 517

    Government contracts, Individuals with disabilities, Minority 
businesses, Women.

12 CFR Parts 541, 556, and 561

    Savings associations.

12 CFR Parts 543, 544, and 546

    Reporting and recordkeeping requirements, Savings associations.

12 CFR Part 545

    Accounting, Consumer protection, Credit, Electronic funds 
transfers, Investments, Reporting and recordkeeping requirements, 
Savings associations.

12 CFR Parts 552 and 563g

    Reporting and recordkeeping requirements, Savings associations, 
Securities.

12 CFR Part 560

    Consumer protection, Investments, Manufactured homes, Mortgages, 
Reporting and recordkeeping requirements, Savings associations, 
Securities.

12 CFR Part 563

    Accounting, Advertising, Crime, Currency, Investments, Reporting 
and recordkeeping requirements, Savings associations, Securities, 
Surety bonds.

12 CFR Part 563d

    Authority delegations (Government agencies), Reporting and 
recordkeeping requirements, Savings associations, Securities.

12 CFR Part 565

    Administrative practice and procedure, Capital, Savings 
associations.

12 CFR Part 568

    Reporting and recordkeeping requirements, Savings associations, 
Security measures.

12 CFR Part 570

    Accounting, Administrative practice and procedure, Bank deposit 
insurance, Holding companies, Reporting and recordkeeping requirements, 
Savings associations, Safety and soundness.

12 CFR Part 573

    Consumer protection, Privacy, Reporting and recordkeeping 
requirements, Savings associations.

12 CFR Part 583

    Holding Companies, Savings associations.

12 CFR Part 590

    Banks, banking, Loan programs--housing and community development, 
Manufactured homes, Mortgages, Savings associations.

    Accordingly, the Office of Thrift Supervision hereby amends title 
12, chapter V of the Code of Federal Regulations, as set forth below.

PART 500--AGENCY ORGANIZATION AND FUNCTIONS

    1. Revise the part heading for part 500 to read as shown above.

    2. The authority citation for part 500 continues to read as 
follows:

    Authority: 12 U.S.C. 1462a, 1463, 1464.

PART 505--FREEDOM OF INFORMATION ACT

    3. The authority citation for part 505 continues to read as 
follows:

    Authority: 5 U.S.C. 552; 12 U.S.C. 1462a, 1463, 1464.

    4. Revise the third sentence of Sec. 505.1(b) to read as follows:


Sec. 505.1  Basis and Scope.

* * * * *
    (b) * * * Procedures for requests for records are set forth in 
Sec. 505.3 of this part. * * *

    5. Revise Sec. 505.2 to read as follows:


Sec. 505.2  Public Reading Room.

    OTS will make materials available for review on an ad hoc basis 
when necessary. Contact the Dissemination Branch, General Law Division, 
Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552, 
or you may visit the Public Reading Room at 1700 G Street, NW., by 
appointment only. To make an appointment for access, call (202) 906-
5922, send an E-mail to [email protected], or send a facsimile 
transmission to (202) 906-7755. (Please identify the materials you 
would like to inspect, to assist us in serving you.) We schedule 
appointments on business days between 10 a.m. and 4 p.m. In most cases, 
appointments will be available the next business day following the date 
we receive your request.

    6. Revise the first two sentences of Sec. 505.3 to read as follows:


Sec. 505.3  Requests for records.

    The Manager, Dissemination Branch or a designated official will 
make the initial determination under 31 CFR 1.5(g) whether to grant a 
request for OTS records. Requests may be mailed to: Freedom of 
Information Act Request, Dissemination Branch, General Law Division, 
Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552, 
or marked ``FOIA'' and delivered in person to the Public Reading Room, 
Dissemination Branch, General Law Division, 1700 G Street, NW., 
Washington, DC 20552. * * *

    7. Revise the first and third sentences of Sec. 505.4 to read as 
follows:


Sec. 505.4  Administrative appeal of initial determination to deny 
records.

    The Deputy Chief Counsel for General Law or a designated official 
will make appellate determinations under 31 CFR 1.5(h) with respect to 
OTS records. * * * Appeals may be delivered personally to the 
Dissemination Branch, General Law Division, Office of Thrift 
Supervision, 1700 G Street, NW., Washington, DC 20552. * * *

PART 506--INFORMATION COLLECTION REQUIREMENTS UNDER THE PAPERWORK 
REDUCTION ACT

    8. The authority citation for part 506 continues to read as 
follows:

    Authority: 44 U.S.C. 3501 et seq.

    9. Amend Sec. 506.1(b) by revising the entry for part 516, removing 
the entry for Sec. 516.1(c), adding new entries for Secs. 533.4, 533.6 
and 533.7 in numerical order, and revising the entry for Sec. 545.92 to 
read as follows:


Sec. 506.1  OMB control numbers assigned pursuant to the Paperwork 
Reduction Act.

* * * * *
    (b) Display.

[[Page 65820]]



------------------------------------------------------------------------
12 CFR part or section where identified
             and described                   Current OMB control No.
------------------------------------------------------------------------
 
                  *        *        *        *        *
Part 516...............................  1550-0056
 
                  *        *        *        *        *
533.4..................................  1550-0105
533.6..................................  1550-0105
533.7..................................  1550-0105
 
                  *        *        *        *        *
545.92.................................  1550-0004 and 1550-0006
 
                  *        *        *        *        *
------------------------------------------------------------------------

PART 516--APPLICATION PROCESSING PROCEDURES

    10. Revise the part heading for part 516 to read as shown above.

    11. The authority citation for part 516 continues to read as 
follows:

    Authority: 5 U.S.C. 552, 559; 12 U.S.C. 1462a, 1463, 1464, 2901 
et seq.

    12. Revise Sec. 516.40(a)(2) to read as follows:


Sec. 516.1  Where do I file my application?

    (a) * * *
    (2) The addresses of each Regional Office and the states covered by 
each office are:

------------------------------------------------------------------------
           Region                Office address         States served
------------------------------------------------------------------------
Northeast..................  Office of Thrift       Connecticut,
                              Supervision, 10        Delaware, Maine,
                              Exchange Place, 18th   Massachusetts, New
                              Floor, Jersey City,    Hampshire, New
                              New Jersey, 07302.     Jersey, New York,
                                                     Pennsylvania, Rhode
                                                     Island, Vermont,
                                                     West Virginia.
Southeast..................  Office of Thrift       Alabama, District of
                              Supervision, 1475      Columbia, Florida,
                              Peachtree Street,      Georgia, Maryland,
                              NE., Atlanta,          North Carolina,
                              Georgia 30309. Mail    Puerto Rico, South
                              to: PO Box 105217,     Carolina, Virginia,
                              Atlanta, Georgia       the Virgin Islands
                              30348-5217.
Central....................  Office of Thrift       Illinois, Indiana,
                              Supervision, One       Kentucky, Michigan,
                              South Wacker Drive,    Ohio, Tennessee,
                              Suite 2000, Chicago,   Wisconsin
                              Illinois 60606.
Midwest....................  Office of Thrift       Arkansas, Colorado,
                              Supervision, 225 E.    Iowa, Kansas,
                              John Carpenter         Louisiana,
                              Freeway, Suite 500,    Minnesota,
                              Irving, Texas 75062-   Mississippi,
                              2326. Mail to: PO      Missouri, Nebraska,
                              Box 619027, Dallas/    New Mexico, North
                              Ft. Worth, Texas       Dakota, Oklahoma,
                              75261-9027.            South Dakota, Texas
West.......................  Office of Thrift       Alaska, Arizona,
                              Supervision, Pacific   California, Guam,
                              Plaza, 2001 Junipero   Hawaii, Idaho,
                              Serra Boulevard,       Montana, Nevada,
                              Suite 650, Daly        Northern Mariana
                              City, California,      Islands, Oregon,
                              94014-1976. Mail to:   Utah, Washington,
                              PO Box 7165, San       Wyoming
                              Francisco,
                              California 94120-
                              7165.
------------------------------------------------------------------------

* * * * *

PART 517--CONTRACTING OUTREACH PROGRAMS

    13. Revise the part heading for part 517 to read as shown above.

    14. The authority citation for part 517 continues to read as 
follows:

    Authority: 12 U.S.C. 1833(e); 42 U.S.C. 12101 et seq.

PART 541--DEFINITIONS FOR REGULATIONS AFFECTING FEDERAL SAVINGS 
ASSOCIATIONS

    15. Revise the part heading for part 541 to read as shown above.

    16. The authority citation for part 541 continues to read as 
follows:

    Authority: 12 U.S.C. 1462a, 1463, 1464.

PART 543--FEDERAL MUTUAL SAVINGS ASSOCIATIONS--INCORPORATION, 
ORGANIZATION, AND CONVERSION

    17. Revise the part heading for part 543 to read as shown above.

    18. The authority citation for part 543 continues to read as 
follows:

    Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 2901 et 
seq.

PART 544--FEDERAL MUTUAL SAVINGS ASSOCIATIONS--CHARTER AND BYLAWS

    19. Revise the part heading for part 544 to read as shown above.

    20. The authority citation for part 544 continues to read as 
follows:

    Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 2901 et 
seq.

PART 545--FEDERAL SAVINGS ASSOCIATIONS--OPERATIONS

    21. Revise the part heading for part 545 to read as shown above.

    22. The authority citation for part 545 continues to read as 
follows:

    Authority: 12 U.S.C. 1462a, 1463, 1464, 1828.

    23. Revise Sec. 545.92(d)(2) to read as follows:


Sec. 545.92  Branch offices.

* * * * *
    (d) * * *
    (2) Submission of application or notice. A Federal savings 
association must comply with Sec. 545.93 of this part and must file its 
application or notice within the time frame in Sec. 516.60 of this 
chapter.
* * * * *

PART 546--FEDERAL MUTUAL SAVINGS ASSOCIATIONS--MERGER, DISSOLUTION, 
REORGANIZATION, AND CONVERSION

    24. Revise the part heading for part 546 to read as shown above.

    25. The authority citation for part 546 continues to read as 
follows:

    Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 2901 et 
seq.

PART 552--FEDERAL STOCK ASSOCIATIONS--INCORPORATION, ORGANIZATION, 
AND CONVERSION

    26. Revise the part heading for part 552 to read as shown above.

    27. The authority citation for part 552 continues to read as 
follows:

    Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a.

PART 556--STATEMENTS OF POLICY [REMOVED]


Sec. 556.5  [Redesignated as Sec. 545.93]

    28. Redesignate Sec. 556.5 as Sec. 545.93.


Part 556  [Removed]

    28a. Remove part 556.

[[Page 65821]]

PART 560--LENDING AND INVESTMENT

    29. The authority citation for part 560 continues to read as 
follows:

    Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 1701j-3, 
1828, 3803, 3806; 42 U.S.C. 4106.

    30. Amend the Appendix to Sec. 560.101 by revising the Supervisory 
Loan-to-Value Limits table to read as follows:


Sec. 560.101  Real estate lending standards.

* * * * *

Appendix to Sec. 560.101--Interagency Guidelines for Real Estate 
Lending Policies

* * * * *

Supervisory Loan-to-Value Limits

* * * * *

------------------------------------------------------------------------
                                                               Loan-to-
                       Loan category                         value limit
                                                               (percent)
------------------------------------------------------------------------
Raw land...................................................           65
Land development...........................................           75
Construction:
    Commercial, multifamily,\1\ and other nonresidential...           80
    1- to 4-family residential.............................           85
Improved property..........................................           85
Owner-occupied 1- to 4-family and home equity..............       (\2\)
------------------------------------------------------------------------
\1\ Multifamily construction includes condominiums and cooperatives.
\2\ A loan-to-value limit has not been established for permanent
  mortgage or home equity loans on owner-occupied, 1- to 4-family
  residential property. However, for any such loan with a loan-to-value
  ratio that equals or exceeds 90 percent at origination, an institution
  should require appropriate credit enhancement in the form of either
  mortgage insurance or readily marketable collateral.

* * * * *

PART 561--DEFINITIONS FOR REGULATIONS AFFECTING ALL SAVINGS 
ASSOCIATIONS

    31. Revise the part heading for part 561 to read as shown above.

    32. The authority citation for part 561 continues to read as 
follows:

    Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a.

PART 563--SAVINGS ASSOCIATIONS--OPERATIONS

    33. Revise the part heading for part 563 to read as shown above.

    34. The authority citation for part 563 continues to read as 
follows:

    Authority: 12 U.S.C. 375b, 1462, 1462a, 1463, 1464, 1467a, 1468, 
1817, 1820, 1828, 1831o, 3806; 42 U.S.C. 4106.

PART 563d--SECURITIES OF SAVINGS ASSOCIATIONS

    35. The authority citation for part 563d continues to read as 
follows:

    Authority: 12 U.S.C. 1462a, 1463, 1464; 15 U.S.C. 78c(b), 78l, 
78m, 78w, 78d-1.

    36. Revise the fourth sentence of Sec. 563d.1 to read as follows:


Sec. 563d.1  Requirements under certain sections of the Securities 
Exchange Act of 1934.

    * * * All filings with respect to securities issued by savings 
associations required by those rules and regulations to be made with 
the Commission shall be made with the Business Transactions Division, 
Chief Counsel's Office, Office of Thrift Supervision, 1700 G Street, 
NW., Washington, DC 20552, by submitting such filings to the Securities 
Filing Desk at the above address, except as noted in Sec. 563d.2 of 
this part. * * *
    37. Revise the third sentence of Sec. 563d.2 to read as follows:


Sec. 563d.2  Mailing requirements for securities filings.

    * * * The originally-signed copy and all remaining copies of each 
filing shall be sent to the Business Transactions Division by 
submitting such filings to the Securities Filing Desk at the address 
specified in Sec. 563d.1 of this part. * * *

PART 563g--SECURITIES OFFERINGS

    38. The authority citation for part 563g continues to read as 
follows:

    Authority: 12 U.S.C. 1462a, 1463, 1464; 15 U.S.C. 78c(b), 78l, 
78m, 78n, 78p, 78w.

    39. Revise Sec. 563g.5(b)(1) introductory text, (b)(1)(i), and 
(b)(2) to read as follows:


Sec. 563g.5  Filing and signature requirements.

* * * * *
    (b) * * * (1) Unless otherwise required, any filing under this part 
shall include nine copies of the document to be filed with the Business 
Transactions Division, Chief Counsel's Office, as follows:
    (i) Seven copies, which shall include one manually signed copy with 
exhibits, three conformed copies with exhibits, and three conformed 
copies without exhibits, to the Securities Filing Desk, Office of 
Thrift Supervision, 1700 G Street, NW., Washington, DC 20552; and
* * * * *
    (2) Within five days after the effective date of an offering 
circular or the commencement of a public offering after the effective 
date, whichever occurs later, nine copies of the offering circular used 
shall be filed with OTS, as follows: seven copies to the Securities 
Filing Desk, Office of Thrift Supervision, 1700 G Street, NW., 
Washington, DC 20552, and two copies to the Regional Director.
* * * * *

    40. Revise the last sentence of Sec. 563g.18(a) to read as follows:


Sec. 563g.18  Current and periodic reports.

    (a) * * * The duty to file under this section shall also be 
automatically suspended as to any fiscal year, other than the fiscal 
year within which such offering circular became effective, if, at the 
beginning of such fiscal year, the securities of each class to which 
the offering circular relates are held of record by less than three 
hundred persons and upon the filing of a Form 15.
* * * * *

PART 565--PROMPT CORRECTIVE ACTION

    41. The authority citation for part 565 continues to read as 
follows:

    Authority: 12 U.S.C. 1831o.

    42. Revise Sec. 565.4(b)(1)(iv) is revised to read as set forth:


Sec. 565.4  Capital measures and capital category definitions.

* * * * *
    (b) * * *
    (1) * * *
    (iv) Is not subject to any written agreement, order, capital 
directive, or prompt corrective action directive issued by OTS under 
section 8 of the FDI Act, the International Lending Supervision Act of 
1983 (12 U.S.C. 3907), the Home Owners' Loan Act (12 U.S.C. 
1464(t)(6)(A)(ii)), or section 38 of the FDI Act, or any regulation 
thereunder, to meet and maintain a specific capital level for any 
capital measure.
* * * * *

PART 568--SECURITY PROCEDURES UNDER THE BANK PROTECTION ACT

    43. Revise the part heading for part 568 to read as shown above.

    44. Revise the authority citation for part 568 to read as follows:

    Authority: Secs. 2-5, 82 Stat. 294-295 (12 U.S.C. 1881-1884).

PART 570--SAFETY AND SOUNDNESS GUIDELINES AND COMPLIANCE PROCEDURES

    45. Revise the part heading for part 570 to read as shown above.

    46. The authority citation for part 570 continues to read as 
follows:

    Authority: 12 U.S.C. 1831p-1.

[[Page 65822]]

PART 573--PRIVACY OF CONSUMER FINANCIAL INFORMATION

    47. The authority citation for part 573 continues to read as 
follows:

    Authority: 12 U.S.C. 1462a, 1463, 1464, 1828; 15 U.S.C. 6801 et 
seq.


    48. Revise Sec. 573.15 (a)(7)(ii) to read as follows:


Sec. 573.15  Other exceptions to notice and opt out requirements.

    (a) * * *
    (7) * * *
    (ii) To comply with a properly authorized civil, criminal, or 
regulatory investigation, or subpoena or summons by Federal, State, or 
local authorities; or
* * * * *

PART 583--DEFINITIONS FOR REGULATIONS AFFECTING SAVINGS AND LOAN 
HOLDING COMPANIES

    49. Revise the part heading for part 583 to read as shown above.

    50. The authority citation for part 583 continues to read as 
follows:

    Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 1468.

PART 590--PREEMPTION OF STATE USURY LAWS

    51. The authority citation for part 590 continues to read as 
follows:

    Authority: 12 U.S.C. 1735f-7a.

    52. Revise 590.3(c) to read as follows:


Sec. 590.3  Operation.

* * * * *
    (c) Nothing in this section preempts limitations in state laws on 
prepayment charges, attorneys' fees, late charges or other provisions 
designed to protect borrowers.

    Dated: December 11, 2001.

    By the Office of Thrift Supervision.
James E. Gilleran,
Director.
[FR Doc. 01-31053 Filed 12-20-01; 8:45 am]
BILLING CODE 6720-01-P