[Federal Register Volume 74, Number 125 (Wednesday, July 1, 2009)]
[Proposed Rules]
[Pages 31529-31533]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-15322]
Federal Register / Vol. 74, No. 125 / Wednesday, July 1, 2009 /
Proposed Rules
[[Page 31529]]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
12 CFR Part 41
[Docket ID OCC-2008-0022]
RIN 1557-AD21
FEDERAL RESERVE SYSTEM
12 CFR Part 222
[Docket No. R-1300]
RIN 7100-AD18
FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Part 334
RIN 3064-AD40
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
12 CFR Part 571
[Docket No. OTS-2008-0026]
RIN 1550-AC31
NATIONAL CREDIT UNION ADMINISTRATION
12 CFR Part 717
FEDERAL TRADE COMMISSION
16 CFR Part 660
RIN 3084-AA94
Guidelines for Furnishers of Information to Consumer Reporting
Agencies
AGENCIES: Office of the Comptroller of the Currency, Treasury (OCC);
Board of Governors of the Federal Reserve System (Board); Federal
Deposit Insurance Corporation (FDIC); Office of Thrift Supervision,
Treasury (OTS); National Credit Union Administration (NCUA); and
Federal Trade Commission (FTC).
ACTION: Advance notice of proposed rulemaking.
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SUMMARY: The OCC, Board, FDIC, OTS, NCUA, and FTC (Agencies) request
comment to gather information that would assist the Agencies in
considering the development of a possible proposed addition to the
furnisher accuracy and integrity guidelines that were issued in today's
Federal Register. Those guidelines, along with the accompanying
regulations, implement the accuracy and integrity provisions in section
312 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act)
that amended section 623 of the Fair Credit Reporting Act (FCRA). This
advance notice of proposed rulemaking (ANPR) seeks to obtain
information that would assist the Agencies in determining whether it
would be appropriate to propose an addition to one of the guidelines
that would delineate the circumstances under which a furnisher would be
expected to provide an account opening date to a consumer reporting
agency to promote the integrity of the information. In addition, the
Agencies request comment more broadly on whether furnishers should be
expected to provide any other types of information to a consumer
reporting agency in order to promote integrity.
DATES: Comments must be submitted by August 31, 2009.
ADDRESSES: Because paper mail in the Washington, DC area and at the
Agencies is subject to delay, commenters are encouraged to submit
comments by e-mail, if possible. Commenters are also encouraged to use
the title ``Procedures to Enhance the Accuracy and Integrity of
Information Furnished to Consumer Reporting Agencies'' to facilitate
the organization and distribution of the comments. Comments submitted
to one or more of the Agencies will be made available to all of the
Agencies. Interested parties are invited to submit comments to:
OCC: You may submit comments by any of the following methods:
Federal eRulemaking Portal--``Regulations.gov'': Go to
http://www.regulations.gov, under the ``More Search Options'' tab click
next to the ``Advanced Docket Search'' option where indicated, select
``Comptroller of the Currency'' from the agency drop-down menu, then
click ``Submit.'' In the ``Docket ID'' column, select ``OCC-2008-0022''
to submit or view public comments and to view supporting and related
materials for this advance notice of proposed rulemaking. The ``How to
Use This Site'' link on the Regulations.gov home page provides
information on using Regulations.gov, including instructions for
submitting or viewing public comments, viewing other supporting and
related materials, and viewing the docket after the close of the
comment period.
Mail: Office of the Comptroller of the Currency, 250 E
Street, SW., Mail Stop 2-3, Washington, DC 20219.
E-mail: [email protected].
Fax: (202) 874-5274.
Hand Delivery/Courier: 250 E Street, SW., Mail Stop 2-3,
Washington, DC 20219.
Instructions: You must include ``OCC'' as the agency name and
``Docket Number OCC-2008-0022'' in your comment. In general, OCC will
enter all comments received into the docket and publish them on
Regulations.gov without change, including any business or personal
information that you provide such as name and address information, e-
mail addresses, or phone numbers. Comments received, including
attachments and other supporting materials, are part of the public
record and subject to public disclosure. Do not enclose any information
in your comment or supporting materials that you consider confidential
or inappropriate for public disclosure.
You may review comments and other related materials by any of the
following methods:
Viewing Comments Electronically: Go to http://www.regulations.gov, under the ``More Search Options'' tab click next
to the ``Advanced Docket Search'' option where indicated, select
``Comptroller of the Currency'' from the agency drop-down menu, then
click ``Submit.'' In the ``Docket ID'' column, select ``OCC-2008-0022''
to view public comments for this advance notice of proposed rulemaking.
Viewing Comments Personally: You may personally inspect
and photocopy comments at the OCC, 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-
4700. 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.
Docket: You may also view or request available background
documents and project summaries using the methods described above.
Board: You may submit comments, identified by Docket No. R-1300, 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.
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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,
NW., Washington, DC 20551.
All public comments are available from the Board's Web site at
http://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, NW.) between 9 a.m. and 5 p.m. on weekdays.
FDIC: You may submit comments, identified by the RIN for this
rulemaking, by any of the following methods:
Agency Web site: http://www.fdic.gov/regulations/laws/federal/propose.html. Follow instructions for submitting comments on
the Agency Web site.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
E-Mail: [email protected]. Include the RIN number in the
subject line of the message.
Mail: Robert E. Feldman, Executive Secretary, Attention:
Comments, Federal Deposit Insurance Corporation, 550 17th Street, NW.,
Washington, DC 20429.
Hand Delivery/Courier: 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.
Public Inspection: All comments received will be posted without
change to http://www.fdic.gov/regulations/laws/federal/propose.html,
including any personal information provided. Paper copies of public
comments may be ordered from the Public Information Center by telephone
at (877) 275-3342 or (703) 562-2200.
OTS: You may submit comments, identified by OTS-2008-0026, by any
of the following methods:
Federal eRulemaking Portal ``Regulations.gov'': Go to
http://www.regulations.gov, under the ``more Search Options'' tab click
next to the ``Advanced Docket Search'' option where indicated, select
``Office of Thrift Supervision'' from the agency drop down menu, then
click ``Submit.'' In the ``Docket ID'' column, select ``OTS-2008-0026''
to submit or view public comments and to view supporting and related
materials for this advance notice of proposed rulemaking. The ``How to
Use This Site'' link on the Regulations.gov home page provides
information on using Regulations.gov, including instructions for
submitting or viewing public comments, viewing other supporting and
related materials, and viewing the docket after the close of the
comment period.
E-mail address: [email protected]. Please
include OTS-2008-0026 in the subject line of the message and include
your name and telephone number in the message.
Mail: Regulation Comments, Chief Counsel's Office, Office
of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552,
Attention: OTS-2008-0026.
Fax: (202) 906-6518.
Hand Delivery/Courier: Guard's Desk, East Lobby Entrance,
1700 G Street, NW., from 9 a.m. to 4 p.m. on business days, Attention:
Regulation Comments, Chief Counsel's Office, Attention: OTS-2008-0026.
Instructions: All submissions received must include the
agency name and docket number for this rulemaking. All comments
received will be entered into the docket and posted on Regulations.gov
without change, including any personal information provided. Comments,
including attachments and other supporting materials received, are part
of the public record and subject to public disclosure. Do not enclose
any information in your comment or supporting materials that you
consider confidential or inappropriate for public disclosure.
Viewing Comments Electronically: Go to http://www.regulations.gov, select ``Office of Thrift Supervision'' from the
agency drop-down menu, then click ``Submit.'' Select Docket ID ''OTS-
2008-0026'' to view public comments for this advance notice of proposed
rulemaking.
Viewing Comments On-Site: You may inspect comments at the
Public Reading Room, 1700 G Street, NW., by appointment. To make an
appointment for access, 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)
906-6518. (Prior notice identifying the materials you will be
requesting will assist us in serving you.) We schedule appointments on
business days between 10 a.m. and 4 p.m. In most cases, appointments
will be available the next business day following the date we receive a
request.
NCUA: You may submit comments by any of the following methods
(please send comments by one method only):
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
NCUA Web Site: http://www.ncua.gov/RegulationsOpinionsLaws/proposed_regs/proposed_regs.html. Follow the
instructions for submitting comments.
E-mail: Address to [email protected]. Include ``[Your
name] Comments on Advance Notice of Proposed Rulemaking Part 717,
Procedures to Enhance the Accuracy and Integrity of Information
Furnished to Consumer Reporting Agencies under Section 312 of the Fair
and Accurate Credit Transactions Act'' in the e-mail subject line.
Fax: (703) 518-6319. Use the subject line described above
for e-mail.
Mail: Address to Mary Rupp, Secretary of the Board,
National Credit Union Administration, 1775 Duke Street, Alexandria, VA
22314-3428.
Hand Delivery/Courier: Address to Mary Rupp, Secretary of
the Board, National Credit Union Administration. Deliver to guard
station in the lobby of 1775 Duke Street, Alexandria, VA 22314-3428, on
business days between 8 a.m. and 5 p.m.
All public comments are available on the agency's Web site at
http://www.ncua.gov/RegulationsOpinionsLaws/comments as submitted,
except as may not be possible for technical reasons. Public comments
will not be edited to remove any identifying or contact information.
Paper copies of comments may be inspected in NCUA's law library, at
1775 Duke Street, Alexandria, VA 22314, by appointment weekdays between
9 a.m. and 3 p.m. To make an appointment, call (703) 518-6546 or send
an e-mail to [email protected].
FTC: Comments should refer to ``Procedures to Enhance the Accuracy
and Integrity of Information Furnished to Consumer Reporting Agencies
under Section 312 of the Fair and Accurate Credit Transactions Act,
Project No. R611017,'' and may be submitted by any of the following
methods. Comments containing confidential material must be filed in
paper form, must be clearly labeled ``Confidential,'' and must comply
with FTC Rule 4.9(c).\1\ Comments should not include any sensitive
personal information, such as an individual's Social Security Number;
date of birth; driver's license number or
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other State identification number or foreign country equivalent;
passport number; financial account number; or credit or debit card
number. Comments also should not include any sensitive health
information, such as medical records and other individually
identifiable health information.
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\1\ The comment must be accompanied by an explicit request for
confidential treatment, including the factual and legal basis for
the request, and must identify the specific portions of the comment
to be withheld from the public record. The request will be granted
or denied by the FTC's General Counsel, consistent with applicable
law and the public interest. See FTC Rule 4.9(c), 16 CFR 4.9(c).
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E-mail: https://secure.commentworks.com/ftc-FACTAfurnishers. To ensure that the FTC considers an electronic
comment, you must file it on the Web-based form found at this Web link
and follow the instructions on that form.
Federal eRulemaking Portal: http://www.regulations.gov.
You may visit this Web site to read this request for public comment and
to file an electronic comment. The FTC will consider all comments that
regulations.gov forwards to it.
Mail or Hand Delivery: A comment filed in paper form
should refer, both in the text and on the envelope, to the name and
project number identified above, and should be mailed or delivered to
the following address: Federal Trade Commission/Office of the
Secretary, Room H-135 (Annex C), 600 Pennsylvania Avenue, NW.,
Washington, DC 20580.
The FTC Act and other laws the FTC administers permit the
collection of public comments to consider and use in this proceeding as
appropriate. All timely and responsive public comments, whether filed
in paper or electronic form, will be considered by the FTC, and will be
available to the public on its Web site, to the extent practicable, at
http://www.ftc.gov/os/publiccomments.htm. As a matter of discretion,
the FTC makes every effort to remove home contact information for
individuals from the public comments it receives before placing those
comments on the FTC Web site. More information, including routine uses
permitted by the Privacy Act, may be found in the FTC's privacy policy,
at http://www.ftc.gov/ftc/privacy.htm.
FOR FURTHER INFORMATION CONTACT:
OCC: Stephen Van Meter, Assistant Director, Community and Consumer
Law Division, (202) 874-5750; Patrick T. Tierney, Senior Attorney, or
Carl Kaminski, Senior Attorney, Legislative and Regulatory Activities
Division, (202) 874-5090; or Malloy T. Harris, Jr., National Bank
Examiner, Compliance Policy, (202) 874-4851, Office of the Comptroller
of the Currency, 250 E Street, SW., Washington, DC 20219.
Board: Amy E. Burke, Senior Attorney, or Jelena McWilliams,
Attorney, Division of Consumer and Community Affairs, (202) 452-3667 or
(202) 452-2412; or Anne B. Zorc, Counsel, (202) 452-3876, or Kara L.
Handzlik, Attorney, (202) 452-3852, Legal Division, Board of Governors
of the Federal Reserve System, 20th and C Streets, NW., Washington, DC
20551.
FDIC: Glenn S. Gimble, Senior Policy Analyst, (202) 898-6865,
Division of Supervision and Consumer Protection; Richard M. Schwartz,
Counsel, (202) 898-7424, or Richard B. Foley, Counsel, (202) 898-3784,
Legal Division; 550 17th St., NW., Washington, DC 20429.
OTS: April Breslaw, Director, Consumer Regulations, (202) 906-6989;
Suzanne McQueen, Consumer Regulations Analyst, Compliance and Consumer
Protection Division, (202) 906-6459; or Richard Bennett, Senior
Compliance Counsel, Regulations and Legislation Division, (202) 906-
7409, at 1700 G Street, NW., Washington, DC 20552.
NCUA: Linda Dent or Regina Metz, Attorneys, Office of General
Counsel, phone (703) 518-6540 or fax (703) 518-6569, National Credit
Union Administration, 1775 Duke Street, Alexandria, VA 22314.
FTC: Clarke W. Brinckerhoff and Pavneet Singh, Attorneys, (202)
326-2252, Bureau of Consumer Protection, Federal Trade Commission, 600
Pennsylvania Avenue, NW., Washington, DC 20580.
SUPPLEMENTARY INFORMATION:
I. Background
The Fair Credit Reporting Act (FCRA), which was enacted in 1970,
sets standards for the collection, communication, and use of
information bearing on a consumer's creditworthiness, credit standing,
credit capacity, character, general reputation, personal
characteristics, or mode of living.\2\ In 1996, the Consumer Credit
Reporting Reform Act extensively amended the FCRA.\3\ The FACT Act \4\
further amended the FCRA for various purposes, including improved
accuracy of consumer reports.
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\2\ 15 U.S.C. 1681-1681x.
\3\ Public Law 104-208, 110 Stat. 3009 (Sept. 20, 1996).
\4\ Public Law 108-159, 117 Stat. 1952 (Dec. 4, 2003).
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Section 623 of the FCRA describes the responsibilities of persons
that furnish information about consumers (furnishers) to consumer
reporting agencies (CRAs).\5\ Section 312 of the FACT Act amended
section 623 of the FCRA by requiring the Agencies to issue guidelines
for use by furnishers regarding the accuracy and integrity of the
information about consumers that they furnish to CRAs and to prescribe
regulations requiring furnishers to establish reasonable policies and
procedures for implementing the guidelines (referred to in this ANPR as
the accuracy and integrity regulations and guidelines).
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\5\ Section 623 is codified at 15 U.S.C. 1681s-2.
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In this issue of the Federal Register, the Agencies promulgated
final rules and guidelines to implement section 312 of the FACT Act.
Section --.41(e) \6\ of the final rules defines the term ``integrity''
to mean that information that a furnisher provides to a CRA about an
account or other relationship with the consumer:
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\6\ Section 660.2(e) in the FTC's rule.
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Is substantiated by the furnisher's records at the time it
is furnished;
Is furnished in a form and manner that is designed to
minimize the likelihood that the information may be incorrectly
reflected in a consumer report; and
Includes the information in a furnisher's possession about
the account or other relationship that the relevant Agency has:
[cir] Determined that the absence of which would likely be
materially misleading in evaluating a consumer's creditworthiness,
credit standing, credit capacity, character, general reputation,
personal characteristics, or mode of living; and
[cir] Listed in section I.(b)(2)(iii) of the guidelines.
Section I.(b)(2)(iii) of the guidelines lists a ``credit limit, if
applicable and in the furnisher's possession.'' Thus, under the final
rule that cross-references this provision of the guidelines,
information relating to a consumer that is furnished to a CRA will not
be deemed to have ``integrity'' if it does not include a credit limit,
if the account or relationship with the consumer has a credit limit,
and the credit limit is in the possession of the furnisher.
The Agencies now seek information to determine if they should
include the account opening date as another item to be included in
section I.(b)(2)(iii) of the guidelines. The Agencies also request
comment on any other items that should be included in section
I.(b)(2)(iii) of the guidelines in order to promote the integrity of
information furnished to CRAs. Specifically, the Agencies request
comment on whether there are other items of information the absence of
which would likely be materially misleading in evaluating a consumer's
creditworthiness, credit standing, credit capacity, character, general
reputation, personal characteristics, or mode of living, and which the
Agencies should
[[Page 31532]]
list in section I.(b)(2)(iii) of the guidelines.
II. Account Opening Date
In general, credit scoring models use the following factors to
generate a credit score: payment history, credit utilization (amount
owed compared to the credit limit), length of credit history (time
since accounts opened and time since account activity), number and
types of credit accounts, new credit established, types of credit used,
and bankruptcy filings.\7\ The Agencies understand that an account
opening date may be used to determine the length of a consumer's credit
history. A long-established credit history tends to affect positively a
consumer's credit score, and may similarly affect other assessments of
a consumer's creditworthiness.
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\7\ See Robert B. Avery, Raphael W. Bostic, Paul S. Calem &
Glenn B. Canner, An Overview of Consumer Data and Credit Reporting,
Federal Reserve Bulletin, vol. 89, at 47-73 (Feb. 2003); Robert B.
Avery, Paul S. Calem, Glenn B. Canner & Shannon C. Mok, Credit
Report Accuracy and Access to Credit, Federal Reserve Bulletin, vol.
90, at 297-322 (Summer 2004).
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The Agencies understand that some furnishers, including furnishers
that provide only negative information to CRAs, may not include account
opening dates in the information they provide to CRAs. The Agencies are
concerned that, for at least some consumers, this practice may result
in a lower credit score for the consumer than otherwise would be the
case (or otherwise result in a more negative assessment of the
consumer's creditworthiness). Therefore, the omission of the account
opening date may result in higher costs and reduced access to credit
and other products and services and present an incorrect impression of
credit and other risks to lenders and other users of consumer reports.
The Agencies also recognize, however, that it is possible that the
account opening date may not be a significant factor in determining a
credit score in certain credit scoring models or in other assessments
of a consumer's creditworthiness; that some credit scoring models and
other assessment systems might be adjusted to compensate for the
absence of an account opening date; and that other data might
effectively be substituted for an account opening date.
III. Request for Comments
The Agencies believe that, in advance of proposing any additions or
changes to the accuracy and integrity guidelines, it is appropriate to
invite comment from all interested parties on the following issues:
To what extent, and under what circumstances, do
furnishers provide account opening dates to CRAs? What factors
determine whether that information will be provided?
Would the absence of an account opening date or any other
specific item in the information a furnisher provides to a CRA likely
be materially misleading in evaluating a consumer's creditworthiness,
credit standing, credit capacity, character, general reputation,
personal characteristics, or mode of living? If so, how, and under what
circumstances?
Does the omission of an account opening date or other
items of information otherwise compromise the integrity of information
provided by furnishers to CRAs? If so, how, and under what
circumstances?
Should certain types of credit or other products or
services be exempt from any proposed guideline for furnishing an
account opening date or other items of information? For example, should
any such new rules or guidelines be applicable only to mortgage or
credit card products? Alternatively, should such rules or guidelines
apply only to credit that is ``consumer credit'' as defined by
Regulation Z (12 CFR 226)? Should any other types of credit products or
services should be exempt, and, if so, why?
Should accounts for which both positive and negative
activity has been furnished on a regular basis for a certain period of
time be exempt from any proposed rule or guideline for furnishing an
account opening date or other items of information? If so, what is the
appropriate period of time, and why?
How should ``account opening date'' or other terms used to
identify other items of information be defined, if at all? Are there
types of credit or other products or services that, because of their
nature, would not have an account opening date or other identified
items of information? If so, please identify such credit products or
services and explain why they would not have an account opening date or
other identified items of information.
What specific costs and benefits would be incurred and
realized by consumers if furnishers were expected to furnish an account
opening date or other items of information to CRAs?
What specific costs and benefits would be incurred and
realized by furnishers and users of consumer reports if furnishers were
expected to furnish an account opening date or other items of
information to CRAs?
What would be the effect on the credit reporting system if
furnishers were expected to furnish an account opening date or other
items of information to CRAs?
In addition, the Agencies specifically invite comment as follows:
The Agencies invite comment from individuals and consumer
organizations on the effect on consumers and the credit reporting
system if furnishers were required to provide CRAs with an account
opening date or other items of information.
In addition, the Agencies recognize that small institutions operate
with more limited resources than larger institutions. Thus, the
Agencies specifically request comment on the impact on small
institutions of a possible future proposal that would require
furnishers to furnish more information to CRAs, such as an account
opening date, and whether the goals of a possible future proposal could
be achieved for small institutions through an alternative approach.
Finally, the Agencies invite comment on how a future proposal could
affect the furnishing of information to specialized types of CRAs, such
as CRAs that collect information for the purpose of making decisions
regarding insurance, employment or tenant screening, or check
verification, and to nontraditional CRAs that may only provide
information to a limited class of businesses (e.g., medical information
providers and tenant screening services).
IV. Regulatory Analysis
Executive Order 12866
Executive Order 12866 requires the preparation of an analysis for
agency actions that are ``significant regulatory actions.''
``Significant regulatory actions'' are actions that may result in
regulations that are likely to:
Have an annual effect on the economy of $100 million or
more or adversely affect in a material way the economy, a sector of the
economy, productivity, competition, jobs, the environment, public
health or safety, or State, local, or Tribal governments or
communities;
Create a serious inconsistency or otherwise interfere with
an action taken or planned by another agency;
Materially alter the budgetary impact of entitlements,
grants, user fees, or loan programs or the rights and obligations of
recipients thereof; or
Raise novel legal or policy issues arising out of legal
mandates, the
[[Page 31533]]
President's priorities, or the principles set forth in the Executive
Order.\8\
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\8\ Executive Order 12866 (Sept. 30, 1993), 58 FR 51735 (Oct. 4,
1993). A ``regulatory action'' is ``any substantive action by an
agency (normally published in the Federal Register) that promulgates
or is expected to lead to the promulgation of a final rule or
regulation, including notices of inquiry, advance notices of
proposed rulemaking, and notices of proposed rulemaking.'' Executive
Order 12866, section 3(e).
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This ANPR neither establishes nor proposes any regulatory
requirements. Because this ANPR does not contain a specific proposal,
information is not available with which to prepare a regulatory
analysis. The OCC and OTS will each prepare a regulatory analysis if
they proceed with a proposed rule that constitutes a significant
regulatory action.
Accordingly, the OCC and OTS solicit comment, information, and data
on the potential effects on the economy of any changes to the
guidelines that commenters may recommend. The OCC and OTS encourage
commenters to provide information about estimates of costs, benefits,
other effects, or any other information. In addition, the OCC and OTS
ask commenters to identify or estimate start-up or non-recurring costs
separately from costs or effects they believe would be ongoing.
Quantitative information would be the most useful. The OCC and OTS will
carefully consider the costs and benefits associated with any proposed
changes to the guidelines.
Dated: May 15, 2009.
John C. Dugan,
Comptroller of the Currency.
By order of the Board of Governors of the Federal Reserve
System, June 4, 2009.
Jennifer J. Johnson,
Secretary of the Board.
By order of the Board of Directors.
Dated at Washington, DC, the 8th day of June 2009.
Robert E. Feldman,
Executive Secretary, Federal Deposit Insurance Corporation.
Dated: April 2, 2009.
By the Office of Thrift Supervision.
John E. Bowman,
Acting Director.
By the National Credit Union Administration Board on May 21,
2009.
Mary Rupp,
Secretary of the Board.
By Direction of the Commission.
Donald S. Clark,
Secretary.
[FR Doc. E9-15322 Filed 6-30-09; 8:45 am]
BILLING CODE 4810-33-P; 6210-01-P; 6714-10-P; 6720-01-P; 7535-01-P;
6750-01-P