[Federal Register Volume 74, Number 156 (Friday, August 14, 2009)]
[Notices]
[Pages 41188-41189]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-19474]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Submission for OMB 
Review; 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 take this opportunity 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 OMB control number. The OCC is soliciting comment 
concerning its information collection titled, ``Identity Theft Red 
Flags and Address Discrepancies under the Fair and Accurate Credit 
Transactions Act of 2003 (FACT Act).'' The OCC also gives notice that 
it has sent the information collection to the Office of Management and 
Budget (OMB) for review.

DATES: You should submit comments by September 14, 2009.

ADDRESSES: Communications Division, Office of the Comptroller of the 
Currency, Mailstop 2-3, Attention: 1557-0237, 250 E Street, SW., 
Washington, DC 20219. In addition, comments may be sent by fax to (202) 
874-5274, or by electronic mail to [email protected]. 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.
    Additionally, you should send a copy of your comments to OCC Desk 
Officer, 1557-0237, 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 H. Gottlieb, OCC Clearance 
Officer, (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: Identity Theft Red Flags and Address Discrepancies under the 
Fair and Accurate Credit Transactions Act of 2003 (FACT Act).
    OMB Number: 1557-0237.
    Description: 12 CFR 41.90, 41.91, 41.82 and Appendix J to part 41 
implement sections 114 and 315 of the Fair and Accurate Credit 
Transactions Act of 2003 (FACT Act), Public Law 108-159 (2003).
    Section 114 amended section 615 of the Fair Credit Reporting Act 
(FCRA) to require the OCC, FRB, FDIC, OTS, NCUA, and FTC (Agencies) to 
issue jointly: (1) Guidelines for financial institutions and creditors 
regarding identity theft with respect to their account holders and 
customers; (2) regulations requiring each financial institution and 
creditor to establish reasonable policies and procedures for 
implementing the guidelines to identify possible risks to account 
holders or customers or to the safety and soundness of the institution 
or creditor; and (3) regulations generally requiring credit and debit 
card issuers to assess the validity of change of address requests under 
certain circumstances. Section 315 amended section 605 of the FCRA to 
require the Agencies to issue regulations providing guidance regarding 
reasonable policies and procedures that a user of consumer reports must 
employ when a user receives a notice of address discrepancy from a 
consumer reporting agency (CRA).
    The information collections in Sec.  41.90 require each financial 
institution and creditor that offers or maintains one or more covered 
accounts to develop and implement a written Identity Theft Prevention 
Program (Program). In developing the Program, financial institutions 
and creditors are required to consider the guidelines in Appendix J to 
part 41 and include those that are appropriate. The initial Program 
must be approved by the board of directors or an appropriate committee 
thereof and the board, an appropriate committee thereof or a designated 
employee at the level of senior management must be involved in the 
oversight of the Program. In addition, staff must be trained to carry 
out the Program. Pursuant to Sec.  41.91, each credit and debit card 
issuer is required to establish and implement policies and procedures 
to assess the validity of a change of address request under certain 
circumstances. Before issuing an additional or replacement card, the 
card issuer must notify the cardholder or use another means to assess 
the validity of the change of address.
    The information collections in Sec.  41.82 require each user of 
consumer reports to develop and implement reasonable policies and 
procedures designed to enable the user to form a reasonable belief that 
a consumer report relates to the consumer about whom it requested the 
report when the user receives a notice of address discrepancy from a 
CRA. A user of consumer reports must also develop and implement 
reasonable policies and procedures for furnishing an address for the 
consumer that the user has reasonably confirmed to be accurate to the 
CRA from which it receives a notice of address discrepancy when (1) the 
user can form a reasonable belief that the consumer report relates to 
the consumer about whom the user has requested the report; (2) the user 
establishes a continuing relationship with the consumer; and (3) the 
user regularly and in the ordinary course of business furnishes 
information to the CRA from which it received the notice of address 
discrepancy.
    Type of Review: Regular.
    Affected Public: Individuals; businesses or other for-profit.
    Estimated Number of Respondents: 1,635.
    Estimated Total Annual Responses: 6,550.
    Estimated Frequency of Response: On occasion.

[[Page 41189]]

    Estimated Total Annual Burden: 183,985 hours.
    The OCC issued a 60-day notice for comment on May 8, 2009. 74 FR 
21740. Two comments were received. The burden estimates have been 
adjusted to take into consideration the comments. A summary of the 
comments can be found in the supporting statement contained in the 
collection, which is available from the contact person listed above 
under FOR FURTHER INFORMATION CONTACT.
    Comments continued 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 has 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: August 10, 2009.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. E9-19474 Filed 8-13-09; 8:45 am]
BILLING CODE 4810-33-P