[Federal Register Volume 73, Number 96 (Friday, May 16, 2008)]
[Notices]
[Page 28551]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-10945]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Proposed Information 
Collection; Comment Request

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other Federal 
agencies to comment on a continuing information collection, as required 
by the Paperwork Reduction Act of 1995. 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 Office of Management 
and Budget (OMB) control number. The OCC is soliciting comment 
concerning its information collection titled ``Loans in Areas Having 
Special Flood Hazards (12 CFR 22).'' The OCC is also giving notice that 
it has submitted the collection to OMB for review.

DATES: You should submit written comments by: June 16, 2008.

ADDRESSES: Communications Division, Office of the Comptroller of the 
Currency, Public Information Room, Mail Stop 1-5, Attention: 1557-0202, 
250 E Street, SW., Washington, DC 20219. In addition, comments may be 
sent by fax to (202) 874-4448, or by electronic mail to 
[email protected]. You may personally inspect and photocopy 
comments at the OCC's Public Information Room, 250 E 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) 
874-5043. Upon arrival, visitors will be required to present valid 
government-issued photo identification and submit to security screening 
in order to inspect and photocopy comments.
    Additionally, you should send a copy of your comments to OCC Desk 
Officer, 1557-0202, by mail to U.S. Office of Management and Budget, 
725 17th Street, NW., 10235, Washington, DC 20503, or by fax 
to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection from Mary Gottlieb, (202) 874-5090, 
Legislative and Regulatory Activities Division, Office of the 
Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval 
of the following information collection:
    Title: Loans in Areas Having Special Flood Hazards--12 CFR 22.
    OMB Control Number: 1557-0202.
    Description: The regulation requires national banks to make 
disclosures and keep records regarding whether a property securing a 
loan is located in a special flood hazard area. This information 
collection is required by section 303(a) \1\ and title V of the Riegle 
Community Development and Regulatory Improvement Act,\2\ the National 
Flood Insurance Reform Act of 1994 amendments to the National Flood 
Insurance Act of 1968 \3\ and the Flood Disaster Protection Act of 
1973,\4\ and by OCC regulations implementing those statutes. The 
information collection requirements are contained in 12 CFR part 22.
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    \1\ 12 U.S.C. 4804.
    \2\ 42 U.S.C. 4104(a).
    \3\ 12 U.S.C. 4104a and 4104b.
    \4\ 12 U.S.C. 4012a and 4106(b).
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    Section 22.6 requires a national bank to use and maintain a copy of 
the Standard Flood Hazard Determination Form developed by the Federal 
Emergency Management Agency (FEMA).
    Section 22.7 requires a national bank or its loan servicer, if a 
borrower has not obtained flood insurance, to notify the borrower to 
obtain adequate flood insurance coverage or the bank or servicer will 
purchase flood insurance on the borrower's behalf.
    Section 22.9 requires a national bank making, extending, increasing 
or renewing a loan secured by a building or a mobile home located in a 
special flood hazard area to advise the borrower and the loan servicer 
that the property is located in a special flood hazard area, provide a 
description of the flood insurance purchase requirements, and provide 
information regarding the availability of insurance under the National 
Flood Insurance Program and Federal assistance in the event of a 
declared Federal flood disaster. The bank must maintain a record of the 
borrower's and loan servicer's receipts of these notices.
    Section 22.10 requires a national bank making, increasing, 
extending, renewing, selling or transferring a loan secured by a 
building or a mobile home located in a special flood hazard area to 
notify FEMA of the identity of the servicer, and of any change in 
servicers.
    These information collection requirements ensure bank compliance 
with applicable Federal law, further bank safety and soundness, provide 
protections for banks and the public, and further public policy 
interests.
    Type of Review: Regular review.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 2,300.
    Estimated Total Annual Responses: 230,000.
    Estimated Frequency of Response: On occasion.
    Estimated Time per Respondent: 25.5 hours.
    Estimated Total Annual Burden: 58,650 hours.
    An agency may not conduct or sponsor, and a respondent is not 
required to respond to, an information collection unless the 
information collection displays a currently valid OMB control number.
    On March 10, 2008, the OCC published a notice in the Federal 
Register soliciting comments for 60 days on this information collection 
(73 FR 12799). No comments were received. Comments continue to be 
invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility;
    (b) The accuracy of the agency'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 startup costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: May 12, 2008.
Michele Meyer,
Assistant Director, Legislative & Regulatory Activities Division, 
Office of the Comptroller of the Currency.
[FR Doc. E8-10945 Filed 5-15-08; 8:45 am]
BILLING CODE 4810-33-P