[Federal Register Volume 72, Number 172 (Thursday, September 6, 2007)]
[Notices]
[Pages 51228-51229]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-17565]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System
SUMMARY: Background.
    On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board of Governors of the Federal Reserve System 
(Board) its approval authority under the Paperwork Reduction Act (PRA), 
as per 5 CFR 1320.16, to approve of and assign OMB control numbers to 
collection of information requests and requirements conducted or 
sponsored by the Board under conditions set forth in 5 CFR 1320 
Appendix A.1. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. Copies of the Paperwork Reduction Act 
Submission, supporting statements and approved collection of 
information instruments are placed into OMB's public docket files. The 
Federal Reserve may not conduct or sponsor, and the respondent is not 
required to respond to, an information collection that has been 
extended, revised, or implemented on or after October 1, 1995, unless 
it displays a currently valid OMB control number.

Request for comment on information collection proposals

    The following information collections, which are being handled 
under this delegated authority, have received initial Board approval 
and are hereby published for comment. At the end of the comment period, 
the proposed information collections, along with an analysis of 
comments and recommendations received, will be submitted to the Board 
for final approval under OMB delegated authority. Comments are invited 
on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    b. The accuracy of the Federal Reserve'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; and
    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.

DATES: Comments must be submitted on or before November 5, 2007.

ADDRESSES: You may submit comments, identified by Reg V: 7100-0308 by 
any of the following methods:
     Agency Web Site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     E-mail: [email protected]. Include docket 
number in the subject line of the message.
     FAX: 202/452-3819 or 202/452-3102.
     Mail: Jennifer J. Johnson, Secretary, Board of Governors 
of the Federal Reserve System, 20th Street and Constitution Avenue, 
N.W., Washington, DC 20551.
    All public comments are available from the Board's web site at 
www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm 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 in Room MP-500 
of the Board's Martin Building (20th and C Streets, N.W.) between 9:00 
a.m. and 5:00 p.m. on weekdays.
    Additionally, commenters should send a copy of their comments to 
the OMB Desk Officer by mail to the Office of Information and 
Regulatory Affairs, U.S. 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, once approved. These documents will also be made 
available on the Federal Reserve Board's public website at: http://www.federalreserve.gov/boarddocs/reportforms/review.cfm or may be 
requested from the agency clearance officer, whose name appears below.
    Michelle Shore, Federal Reserve Board Clearance Officer (202-452-
3829), Division of Research and Statistics, Board of Governors of the 
Federal Reserve System, Washington, DC 20551. Telecommunications Device 
for the Deaf (TDD) users may contact (202-263-4869), Board of Governors 
of the Federal Reserve System, Washington, DC 20551.

[[Page 51229]]

Proposal to approve under OMB delegated authority the extension for 
three years, without revision, of the following reports:

    1. Report title: Disclosure requirements associated with Regulation 
V
    Agency form number: Reg V
    OMB control number: 7100-0308 \1\
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    \1\ The proposed information collections associated with the 
following notice of proposed rulemakings: Fair Credit Reporting 
Affiliate Marketing Regulations (Docket No R1203) published in the 
Federal Register July 15, 2004, and Identity Theft Red Flags and 
Address Discrepancies under the Fair and Accurate Credit 
Transactions Act of 2003 (Docket No R1255) published in the Federal 
Register July 18, 2006, will be assigned OMB No. 7100-0308 once the 
rules have been finalized during the 4th quarter of 2007.
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    Frequency: On occasion
    Reporters: Financial institutions \2\
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    \2\ Under section 217, the term ``financial institution'' is 
defined broadly to have the same meaning as in the privacy 
provisions of the Gramm-Leach-Bliley Act of 1999 (GLB Act), which 
defines financial institution to mean ``any institution the business 
of which is engaging in financial activities as described in section 
4(k) of the Bank Holding Company Act of 1956,'' whether or not 
affiliated with a bank. 15 U.S.C. 6809(3).
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    Annual reporting hours: 7,500 hours
    Estimated average hours per response: .25 hours
    Number of respondents: 30,000
    General description of report: This information collection is 
mandatory (15 U.S.C. Sec.  1681s-2(a)(7)). Because the records are 
maintained at state member banks and the notices are not provided to 
the Federal Reserve, no issue of confidentiality arises under the 
Freedom of Information Act.
    Abstract: Financial institutions that (1) extend credit and 
regularly and in the ordinary course of business furnish information to 
a nationwide consumer reporting agency, and (2) furnish negative 
information to such an agency regarding credit extended to a customer 
must provide a clear and conspicuous notice to the customer, in 
writing, about furnishing this negative information.

    Board of Governors of the Federal Reserve System, August 30, 
2007.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E7-17565 Filed 9-5-07; 8:45 am]
BILLING CODE 6210-01-S