[Federal Register Volume 69, Number 69 (Friday, April 9, 2004)]
[Notices]
[Pages 19007-19008]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-8035]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

Office of Thrift Supervision

FEDERAL RESERVE SYSTEM

FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

AGENCIES: Office of the Comptroller of the Currency (OCC), Treasury; 
Board of Governors of the Federal Reserve System (Board); Federal 
Deposit Insurance Corporation (FDIC); and Office of Thrift Supervision 
(OTS), Treasury.

ACTION: Submission for OMB review; comment request.

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SUMMARY: The OCC, Board, FDIC, and OTS (collectively, the Agencies), as 
part of their continuing effort to reduce paperwork and respondent 
burden, invite the general public and other Federal agencies to comment 
on a continuing information collection, as required by the Paperwork 
Reduction Act of 1995 (PRA). The Agencies may not conduct or sponsor, 
and a respondent is not required to respond to, an information 
collection unless it displays a currently valid Office of Management 
and Budget (OMB) control number. Currently, the OCC, FDIC, and OTS are 
soliciting comment concerning an extension of OMB approval of the 
information collections contained in their respective Consumer 
Protections for Depository Institution Sales of Insurance regulations. 
The Board has approved this information collection under its delegated 
authority from OMB.

DATES: Comments should be submitted by May 10, 2004.

ADDRESSES: Comments should be directed to the Agencies and the OMB Desk 
Officer for the Agencies as follows:
    OCC: Office of the Comptroller of the Currency, Public Information 
Room, 250 E Street, SW., Mail Stop 1-5, Attention: 1557-0220, 
Washington, DC 20219. Due to delays in delivery of paper mail in the 
Washington area, commenters are encouraged to submit comments by fax or 
electronic mail. Comments may be sent by fax to (202) 874-4448, or by 
electronic mail to [email protected]. You can inspect and 
photocopy comments at the OCC's Public Information Room. You can make 
an appointment to inspect the comments by calling (202) 874-5043.
    Board: Written comments may be mailed to Jennifer J. Johnson, 
Secretary, Board of Governors of the Federal Reserve System, 20th 
Street and Constitution Avenue, NW., Washington, DC 20551. However, 
because paper mail in the Washington area and at the Board of Governors 
is subject to delay, please consider submitting your comments by 
electronic mail to [email protected], or faxing them to 
the Office of the Secretary at (202) 452-3819 or (202) 452-3102. 
Members of the public may inspect comments in Room M-P-500 between 9 
a.m. and 5 p.m. on weekdays pursuant to 261.12, except as provided in 
261.14, of the Board's Rules Regarding Availability of Information, 12 
CFR 261.12 and 261.14.
    FDIC: Steven F. Hanft, Paperwork Clearance Officer, Legal Division, 
Room MB-3064, 550 17th Street, NW., Washington, DC 20429. All comments 
should refer to ``Insurance Sales Consumer Protections, 3064-0140.'' 
You may also hand-deliver comments to the guard station at the rear of 
the 550 17th Street Building (located on F Street), on business days 
between 7 a.m. and 5 p.m., or fax comments to (202) 898-3838.
    OTS: Information Collection Comments, Chief Counsel's Office, 
Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552, 
Attention: 1550-0106, Fax number (202) 906-6518, or e-mail to 
[email protected]. OTS will post comments and the 
related index on the OTS Internet site at www.ots.treas.gov. In 
addition, interested persons may inspect comments at the Public Reading 
Room, 1700 G Street, NW., by appointment. To make an appointment, call 
(202) 906-5922, send an e-mail to [email protected], or send a 
facsimile transmission to (202) 906-7755.
    OMB Desk Officer for the Agencies: Mark Menchik, Office of 
Information and Regulatory Affairs, Office of Management and Budget, 
New Executive Office Building, Washington, DC 20503, or e-mail to 
[email protected].

FOR FURTHER INFORMATION CONTACT: You may request additional information 
or a copy of the collection and supporting documentation submitted to 
OMB by contacting:
    OCC: John Ference or Camille Dixon, (202) 874-5090, Legislative and 
Regulatory Activities Division, Office of the Comptroller of the 
Currency, 250 E Street, SW., Washington, DC 20219.
    Board: Michelle Long, Acting Federal Reserve Board Clearance 
Officer, (202) 452-3829, Division of Research and Statistics, Board of 
Governors of the Federal Reserve System, 20th and C Streets, NW., M/S 
41, Washington, DC 20551.
    FDIC: Steven F. Hanft, Paperwork Clearance Officer, (202) 898-3907, 
Legal Division, Federal Deposit Insurance Corporation, 550 17th Street, 
NW., Washington, DC 20429.
    OTS: Marilyn K. Burton, OTS Clearance Officer, (202) 906-6467, 
Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.

SUPPLEMENTARY INFORMATION: The agencies are proposing to extend OMB 
approval of the following information collections:
    Titles:
    OCC: Consumer Protections for Depository Institution Sales of 
Insurance--12 CFR 14.
    Board: Disclosure Requirements in Connection With Regulation H 
(Consumer Protections in Sales of Insurance).
    FDIC: Insurance Sales Consumer Protections.
    OTS: Consumer Protections for Depository Sales of Insurance.
    OMB Control Numbers:
    OCC: 1557-0220.
    Board: 7100-0298.
    FDIC: 3064-0140.
    OTS: 1550-0106.
    Type of Review: Extension, without revision, of a currently 
approved collection.
    Form Number: None.
    Description: This submission covers an extension of the Agencies' 
currently approved information collections in their regulations (12 CFR 
part 14 (OCC), 12 CFR part 208 (Board), 12 CFR part 343 (FDIC), and 12 
CFR part 536 (OTS)). This submission involves no change to the 
regulations or to the information collections embodied in the 
regulations.
    The information collections contained in the regulations are as 
follows:
    Covered persons must make insurance disclosures before the 
completion of the initial sale of an insurance product or annuity to a 
consumer. The disclosure must be made orally and in writing to the 
consumer that: (1) The insurance product or annuity is not a deposit or 
other obligation of, or guaranteed by, the financial institution or an 
affiliate of the financial institution; (2) the insurance product or 
annuity is not insured by the FDIC or any other agency of the United 
States, the financial institution, or (if applicable) an affiliate of 
the financial

[[Page 19008]]

institution; and (3) in the case of an insurance product or annuity 
that involves an investment risk, there is investment risk associated 
with the product, including the possible loss of value.
    Sections --.40(a) (OCC), --.84(a) (Board), --.40(a) (FDIC), and 
--.40(a) (OTS).
    Covered persons must make a credit disclosure 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. The 
disclosure must be made orally and in writing that the financial 
institution may not condition an extension of credit on either: (1) The 
consumer's purchase of an insurance product or annuity from the 
financial institution or any of its affiliates; or (2) the consumer's 
agreement not to obtain, or a prohibition on the consumer from 
obtaining, an insurance product or annuity from an unaffiliated entity.
    Sections --.40(b) (OCC), --.84(b) (Board), --.40(b) (FDIC), and 
--.40(b) (OTS).
    Affected Public: Businesses or other for-profit.
    Burden Estimates: The agencies received no comments in response to 
their initial PRA renewal notice published in the Federal Register on 
November 12, 2003 (68 FR 64192). Nevertheless, as part of this renewal, 
an interagency working group reviewed the estimates of the paperwork 
burden in the underlying regulations. Although there is no change to 
the underlying regulations, the agencies have adjusted the estimated 
burden to improve the accuracy of their estimates. The agencies' new 
burden estimates follow.
    Estimated Number of Respondents:
    OCC: 1,563.
    Board: 955.
    FDIC: 2,760.
    OTS: 928.
    Estimated Number of Responses:
    OCC: 1,563.
    Board: 601,650.
    FDIC: 5,520.
    OTS: 601,347.
    Estimated Annual Burden Hours:
    OCC: 7,815 hours.
    Board: 15,041 hours.
    FDIC: 13,350 hours.
    OTS: 15,034 hours.
    Frequency of Response: On occasion.
    Comments: The Agencies have a continuing interest in the public's 
opinion regarding collections of information. Members of the public may 
submit comments regarding any aspect of these collections of 
information. All comments become a matter of public record.

    Dated: April 5, 2004.
Stuart Feldstein,
Assistant Director, Legislative and Regulatory Activities Division, 
Office of the Comptroller of the Currency.

    By order of the Board of Governors of the Federal Reserve 
System, March 18, 2004.
Jennifer J. Johnson,
Secretary of the Board.

    Dated in Washington, DC., this 30th day of March, 2004.
    Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.

    Dated: March 30, 2004.
    By the Office of Thrift Supervision.
Richard M. Riccobono,
Deputy Director.
[FR Doc. 04-8035 Filed 4-8-04; 8:45 am]
BILLING CODE 4810-33; 6210-01; 6714-01; 6720-01-P