[Federal Register Volume 72, Number 119 (Thursday, June 21, 2007)]
[Notices]
[Page 34360]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-12040]


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DEPARTMENT OF THE TREASURY

Office of Thrift Supervision


Submission for OMB Review; Comment Request--Consumer Protections 
for Depository Institution Sales of Insurance

AGENCY: Office of Thrift Supervision (OTS), Treasury.

ACTION: Notice and request for comment.

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SUMMARY: The proposed information collection requirement described 
below has been submitted to the Office of Management and Budget (OMB) 
for review and approval, as required by the Paperwork Reduction Act of 
1995. OTS is soliciting public comments on the proposal.

DATES: Submit written comments on or before July 23, 2007.

ADDRESSES: Send comments, referring to the collection by title of the 
proposal or by OMB approval number, to OMB and OTS at these addresses: 
Office of Information and Regulatory Affairs, Attention: Desk Officer 
for OTS, U.S. Office of Management and Budget, 725-17th Street, NW., 
Room 10235, Washington, DC 20503, or by fax to (202) 395-6974; and 
Information Collection Comments, Chief Counsel's Office, Office of 
Thrift Supervision, 1700 G Street, NW., Washington, DC 20552, by fax to 
(202) 906-6518, or by e-mail to [email protected]. 
OTS will post comments and the related index on the OTS Internet Site 
at http://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 public.info@ots.treas.gov">public.info@ots.treas.gov, or send a facsimile transmission to 
(202) 906-7755.

FOR FURTHER INFORMATION CONTACT: For further information or to obtain a 
copy of the submission to OMB, please contact Marilyn K. Burton at 
[email protected], (202) 906-6467, or facsimile number (202) 
906-6518, Litigation Division, Chief Counsel's Office, Office of Thrift 
Supervision, 1700 G Street, NW., Washington, DC 20552.

SUPPLEMENTARY INFORMATION: OTS may not conduct or sponsor an 
information collection, and respondents are not required to respond to 
an information collection, unless the information collection displays a 
currently valid OMB control number. As part of the approval process, we 
invite comments on the following information collection.
    Title of Proposal: Consumer Protections for Depository Institution 
Sales of Insurance.
    OMB Number: 1550-0106.
    Form Number: N/A.
    Regulation requirement: 12 CFR part 536.
    Description: This submission covers an extension of OTS's currently 
approved information collection in its regulation found at 12 CFR part 
536. 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:
    12 CFR 536.40(a). Savings associations must make insurance 
disclosures in connection with the initial purchase of an insurance 
product. 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, a savings association or an 
affiliate of a savings association; (2) the insurance product or 
annuity is not insured by the FDIC or any other agency of the United 
States, a savings association, or (if applicable) an affiliate of a 
savings association; 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.
    12 CFR 536.40(b). Savings associations must make a 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 a savings 
association may not condition an extension of credit on either: (1) The 
consumer's purchase of an insurance product or annuity from a savings 
association 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.
    Type of Review: Renewal.
    Affected Public: Businesses or other for-profit; individuals.
    Estimated Number of Respondents: 845.
    Estimated Number of Responses: 841,826.
    Estimated Frequency of Response: On occasion.
    Estimated Total Burden: 21,046 hours.
    Clearance Officer: Marilyn K. Burton, (202) 906-6467, Office of 
Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.
    OMB Reviewer: Desk Officer for OTS, Fax: (202) 395-6974, U.S. 
Office of Management and Budget, 725-17th Street, NW., Room 10235, 
Washington, DC 20503.

    Dated: June 13, 2007.
Deborah Dakin,
Senior Deputy Chief Counsel, Regulations and Legislation Division.
[FR Doc. E7-12040 Filed 6-20-07; 8:45 am]
BILLING CODE 6720-01-P