[Federal Register Volume 76, Number 10 (Friday, January 14, 2011)]
[Notices]
[Pages 2753-2754]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-799]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Proposed Agency 
Information Collection Activities; 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.''

DATES: You should submit written comments by: March 15, 2011.

ADDRESSES: Communications Division, Office of the Comptroller of the 
Currency, Mail Stop 2-3, Attention: 1557-0202, 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 to 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 H. 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 held as 
security for 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\ 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 the Standard Flood 
Hazard Determination Form developed by the Federal Emergency Management 
Agency (FEMA) and to maintain a completed copy of that form for the 
period of time the bank owns the loan.
    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 of Federal 
assistance in the event of a declared Federal flood disaster. In lieu 
of providing the borrower notice, a national bank may obtain a 
satisfactory written assurance from a seller or lessor that, within a 
reasonable time before completion of the sale or lease transaction, the 
seller or lessor provided such notice to the purchaser or lessee. For 
the period of time the bank owns the loan, the bank must maintain a 
record of the borrower's and loan servicer's receipts of these notices 
and, where appropriate, the written assurance from the seller or the 
lessor.
    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: 1,650.
    Estimated Total Annual Responses: 166,650.
    Estimated Frequency of Response: On occasion.
    Estimated Time per Respondent: 25.5 hours.
    Estimated Total Annual Burden: 42,075 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.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval. All comments become a 
matter of public record. Comments are 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;

[[Page 2754]]

    (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 start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: January 10, 2011.
Michele Meyer,
Assistant Director, Legislative & Regulatory Activities Division, 
Office of the Comptroller of the Currency.
[FR Doc. 2011-799 Filed 1-13-11; 8:45 am]
BILLING CODE 4810-33-P