[Federal Register Volume 73, Number 104 (Thursday, May 29, 2008)]
[Notices]
[Pages 30938-30940]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-11945]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other Federal 
agencies to take this opportunity to comment on continuing information 
collections, as required by the Paperwork Reduction Act of 1995 (44 
U.S.C. chapter 35). Currently, the FDIC is soliciting comments 
concerning the following collections of information titled: Acquisition 
Services Information Requirements (3064-0072), Account Based 
Disclosures in Connection with Federal Reserve Regulations E, CC, and 
DD (3064-0084), and Prompt Corrective Actions (3064-0115).

DATES: Comments must be submitted on or before July 28, 2008.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods. All comments should refer to 
the name of the collection:
     http://www.FDIC.gov/regulations/laws/federal/notices.html.
     E-mail: [email protected]. Include the name of the 
collection in the subject line of the message.
     Mail: Leneta G. Gregorie (202-898-3719), Counsel, Room F-
1064, Federal Deposit Insurance Corporation, 550 17th Street NW., 
Washington, DC 20429.

[[Page 30939]]

     Hand Delivery: Comments may be hand-delivered to the guard 
station at the rear of the 17th Street Building (located on F Street), 
on business days between 7 a.m. and 5 p.m.
    A copy of the comments may also be submitted to the OMB desk 
officer for the FDIC: Office of Information and Regulatory Affairs, 
Office of Management and Budget, New Executive Office Building, 
Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Leneta G. Gregorie at the address 
identified above.

SUPPLEMENTARY INFORMATION:
    Proposal to renew the following currently approved collections of 
information:
    1. Title: Acquisition Services Information Requirements.
    OMB Number: 3064-0072.
    This OMB Number covers the following items:

Forms Currently in Use: FDIC Background Investigation Questionnaire for 
Contractor Personnel Management Officials, Form 1600/04 (1-03). FDIC 
Contractor Representation and Certifications, Form 3700/04A (8-02).
FDIC Background Investigation Questionnaire for Contractor, Form 1600/
07 (8-02).
FDIC Notice and Authorization Pertaining to Consumer Reports, Form 
1600/10 (10-02).
FDIC Integrity and Fitness Representations and Certifications, Form 
3700/12 (11-03).
FDIC Leasing Representations and Certifications Form 3700/44 (10-01).
Discontinued Forms in This Collection: FDIC Contractor Application, 
Form 3700/13 (5-02). Contractor Past Performance RFP Reference Check 
Questionnaire, 3700/29 (10-01). Contractor Application Revision 
Request, Form 3700/33 (8-98).

    Frequency of Response: On occasion.
    Affected Public: Any contractors who wish to do business, have done 
business, or are currently under contract with the FDIC.
    Estimated Number of Respondents: 12,546.
    Estimated Time per Response: .43 hours.
    Total Annual Burden: 5,403 hours.
    General Description of Collection: The collection involves the 
submission of information on various forms by contractors who wish to 
do business, have done business, or are currently under contract with 
the FDIC. The information is used to: Enter contractors on the FDIC's 
nationwide contractor database, the National Contractor System (NCS); 
ensure compliance with established contractor ethics regulations (12 
CFR Part 366); obtain information on a contractor's past performance 
for proposal evaluation purposes; review a potential lessor's fitness 
and integrity prior to entering into a lease transaction; provide 
notice and authorization for obtaining consumer reports for employment 
purposes or performance under a contract; and document contractor 
change requests.
    2. Title: Account Based Disclosures in Connection With Federal 
Reserve Regulations E, CC, and DD.
    OMB Number: 3064-0084.
    Frequency of Response: On occasion.
    Affected Public: State chartered banks that are not members of the 
Federal Reserve System.
    Estimated Number of Respondents: 5,300.
    Total Annual Burden: 920,589 hours.
    General Description of Collection: This FDIC information collection 
provides for the application of Regulations E (Electronic Fund 
Transfers), CC (Availability of Funds), and DD (Truth in Savings) to 
State nonmember banks. Regulations E, CC, and DD are issued by the 
Federal Reserve Board of Governors (FRB) to ensure, among other things, 
that consumers are provided adequate disclosures regarding accounts, 
including electronic fund transfer services, availability of funds, and 
fees and annual percentage yield for deposit accounts. Generally, the 
Regulation E disclosures are designed to ensure consumers receive 
adequate disclosure of basic terms, costs, and rights relating to 
electronic fund transfer (EFT) services provided to them so that they 
can make informed decisions. Institutions offering EFT services must 
disclose to consumers certain information, including: initial and 
updated EFT terms, transaction information, the consumer's potential 
liability for unauthorized transfers, and error resolution rights and 
procedures.
    Like Regulation E, Regulation CC has consumer protection disclosure 
requirements. Specifically, Regulation CC requires depository 
institutions to make funds deposited in transaction accounts available 
within specified time periods, disclose their availability policies to 
customers, and begin accruing interest on such deposits promptly. The 
disclosures are intended to alert customers that their ability to use 
deposited funds may be delayed, prevent unintentional (and costly) 
overdrafts, and allow customers to compare the policies of different 
institutions before deciding at which institution to deposit funds. 
Depository institutions must also provide an awareness disclosure 
regarding substitute checks. The regulation also requires notice to the 
depositary bank and to a customer of nonpayment of a check.
    Regulation DD also has similar consumer protection disclosure 
requirements that are intended to assist consumers in comparing deposit 
accounts offered by institutions, principally through the disclosure of 
fees, the annual percentage yield, and other account terms. Regulation 
DD requires depository institutions to disclose yields, fees, and other 
terms concerning deposit accounts to consumers at account opening, upon 
request, and when changes in terms occur. Depository institutions that 
provide periodic statements are required to include information about 
fees imposed, interest earned, and the annual percentage yield (APY) 
earned during those statement periods. It also contains rules about 
advertising deposit accounts.
    Although the FRB regulations require institutions to retain 
evidence of compliance with the disclosure requirements, the 
regulations do not specify the types of records that must be retained.
    3. Title: Prompt Corrective Action.
    OMB Number: 3064-0115.
    Frequency of Response: On occasion.
    Affected Public: All insured depository institutions.
    Estimated Number of Respondents: 19.
    Estimated Time per Response: 4 hours.
    Total Annual Burden: 76 hours.
    General Description of Collection: The Prompt Corrective Action 
provisions in Section 38 of the Federal Deposit Insurance Act (12 
U.S.C. 1831o) permits and, in some cases requires, the Federal Deposit 
Insurance Corporation (FDIC) and other federal banking agencies to take 
certain supervisory actions when FDIC-insured institutions fall within 
one of five capital categories. They also restrict or prohibit certain 
activities and require the submission of a capital restoration plan 
when an insured institution becomes undercapitalized.

Request for Comment

    Comments are invited on: (a) Whether this collection of information 
is necessary for the proper performance of the FDIC's functions, 
including whether the information has practical utility; (b) the 
accuracy of the estimates of the burden of the information collection, 
including the validity of the methodologies and assumptions used; (c) 
ways to enhance the quality, utility,

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and clarity of the information to be collected; (d) ways to minimize 
the burden of the information collection on respondents, including 
through the use of automated collection techniques or other forms of 
information technology; and (e) estimates of capital or start up costs, 
and costs of operation, maintenance and purchase of services to provide 
the information.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the 
collection should be modified prior to submission to OMB for review and 
approval. Comments submitted in response to this notice also will be 
summarized or included in the FDIC's requests to OMB for renewal of 
this collection. All comments will become a matter of public record.

    Dated at Washington, DC, this 23nd day of May, 2008.

Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. E8-11945 Filed 5-28-08; 8:45 am]
BILLING CODE 6714-01-P